Compare & Choose from Best Personal Loan OffersYES Bank Personal Loan Highlights – June 2022 | |
| Interest Rate | 10.99% p.a. onwards |
| Loan Amount | Rs 1-Rs 40 lakh |
| Tenure | 1-5 years |
Table of Contents :
YES Bank Personal Loan Interest Rates
The interest rates for YES Bank Limited personal loans start @ 10.99% p.a. onwards. The final interest rates offered to the personal loan applicants depend upon the age, credit score, monthly income, job profile, employer’s profile, loan repayment history, etc.
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Comparison of YES Bank Personal Loan vs Other Lenders
| Banks/NBFCs | Interest Rates (per annum) |
| YES Bank | 10.99% onwards |
| HDFC Bank | 10.50% – 21% |
| SBI | 9.80%-13.80% |
| ICICI Bank | 10.50% onwards |
| Axis Bank | 10.25% onwards |
| Kotak Mahindra Bank | 10.99% onwards |
| IndusInd Bank | 10.49% onwards |
| IDFC First Bank | 10.49% – 25% |
| Bajaj Finserv | 13.00% onwards |
| Tata Capital | 10.99% onwards |
YES Bank Personal Loan Fees & Charges
| Foreclosure Charges-Full prepayment charges | Allowed post repayment of 12 EMIs Charges after 12 months: 13-24 months- 4% of principal outstanding 25-36 months- 3% of principal outstanding 37-48 months- 2% of principal outstanding >48 months- NIL |
| Pre Part payment Charges | 2% + taxes |
| Pre Part payment allowed | Allowed post repayment of 12 EMIs 13-24 months- 20% of principal outstanding 25-36 months- 20% of principal outstanding 37-48 months- 25% of principal outstanding >48 months- 25% of principal outstanding |
| Pre Part-Payment or foreclosure is not allowed upto payment of | 12 EMIs |
| Duplicate No Due Certificate/No Objection Certificate | Rs 250 per statement |
| Duplicate statement of account charges | RS 750 per statement |
| Penal Interest | 24% p.a. |
| Stamp Duty and other Statutory Charges | As applicable |
| Cheque/SI/ECS/NACH swapping charges | Rs 750 |
| Cheque/SI/ECS Dishonour Charges | Rs 750 |
| Loan cancellation and rebooking charges | Rs 1,000 + tax |
| Statement of account charges | Rs 750 |
| Legal/Incidental/Collection Charges | At actuals |
| Duplicate Repayment Schedule | Rs 750 |
| NeSL fee per loan/debt record of borrower per year | Rs 25 |
| NeSL Annual Renewal Fee per loan/debt record of a borrower | NIL |
Check Your Free Credit Score to know personal loan eligibility Check Now
Types of YES Bank Personal Loan
Below are the types of personal loans offered by YES Bank:
For Holiday
- Purpose: To meet the travel expenses including flight tickets, hotel charges, travel accessories, etc
For Wedding
- Purpose: To cater the various expenses related to wedding including, jewelry, catering, clothing, decoration, etc
For Home Renovation
- Purpose: To meet the expenses for home renovation such as redecorating and refurbishing the house
Balance Transfer
- Purpose: Transfer of existing personal loan from other lending institutions to YES Bank Limited at lower interest rates
Also Check: List of Banks Offering Personal Loan Balance Transfer at Low Interest Rates
YES Bank Top-Up Loan
Top-Up loan refers to loan sanctioned over and above an existing personal loan that has not been paid off in full yet. Only selected YES Bank customers are eligible for a top-up personal loan. You can contact YES Bank customer care to know, if you are eligible and qualify for a YES Bank Top-Up loan.
Eligibility for YES Bank Personal Loan
Both salaried and self-employed individuals can apply for a personal loan from YES Bank subject to the key eligibility conditions as mentioned below:
For Salaried Individuals
Key factors that may impact your eligibility for a personal loan from YES Bank include:
- CIBIL Score
- Repayment history
- Monthly Income
- Employer
- Pre-existing EMIs and other recurring expenses
- Stable employment history
- Duration spent living at the current residence
- Whether the place of residence is rented, owned or mortgaged
- Prior relationship with the bank
For Self-Employed Professionals
For self-employed applicants, the minimum age to apply for a personal loan from YES Bank is 22 years. Apart from the factors mentioned above, additional factors affecting the eligibility of self-employed individuals applying for YES Bank personal loan are as follows:
- Business stability proven by current business registration certificate or equivalent document
- Stable income history proven by certified account statements/P&L statements, etc.
Documents Required for YES Bank Personal Loan
The common documents required to apply for a personal loan with YES Bank include the following:
General Documents
- Identity Proof/Signature Proof
- Address Proof (Office/Residence)
- Age Proof
For Salaried Applicants
- Salary slips for last 2-3 months
- ITR for last 2 years/Appointment Letter/Form-16
- Salary Account Statement for 3-6 months
- All existing loan details
For Private Limited Company
- List of directors and shareholders
- Memorandum and Articles of Association
- Bank account statement (main) for last 6 months
- ITR/Profit and Loss/Balance Sheet statement for last 3 years (along with Form 3CB and 3CD)
- Existing loan details
For Partnership
- ITR/Profit and Loss/Balance Sheet statement for last 3 years (along with Form 3CB and 3CD)
- Partnership deed
- Bank statement for last 6 months (main account)
- All existing loans details
For Proprietorship
- ITR/Profit and Loss/Balance Sheet statement for last 3 years (along with Form 3CB and 3CD)
- Main account bank statement for last 6 months
- Details for existing loans
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Personal Loan at Attractive Interest Rates Apply Now
Customer Care
You can contact YES Bank’s customer service department by phone, e-mail address, SMS or YES Robot: Phone Numbers (For India)
- 1800-1200 (Toll-Free)
- +91 22-6121-9000 (charges applicable)
Phone Numbers (For Outside India)*
- +91 22-3099-3600
- 1877-659-8044 (USA/CANADA)
- 808-178-5133(UK)
- 8000-3570-3089(UAE)
*international call rates may apply
- >E-mail Address: yestouch@yesbank.in
- SMS: Send ‘HELP’ space <CUST ID> to +91 9552220020
- YES Robot: You can also use the YES Robot, the YES Bank chatbot (virtual assistant) in order to get in touch with a YES Bank customer service representative.
FAQs
Q. What is the turnaround time for YES Bank Personal Loan disbursal?
A. YES Bank confirms its appraisal decision after 5 days of the completion of documentation process. The personal loan gets disbursed within few hours of loan processing and approval.
Q. Can I foreclose my personal loan account at YES Bank?
A. YES you can foreclose your personal loan account at YES Bank after repayment of 12 EMIs. You can also make part-prepayments for your personal loan post 12 EMIs.
Know more details on: Foreclosure charges on personal loans
Q. Do I need to provide any security or guarantors while applying for YES Bank Personal Loan?
A. The personal loan applicants do not require to provide any security, collateral or guarantors while applying for YES Bank Personal Loan.
Q. What are the factors that determine the eligibility of YES Bank personal loan applicants?
A. YES Bank considers the age, monthly income, occupation profile, employer’s profile, the time spent at current residence, monthly expenses and existing EMIs of personal loan applicants for evaluating their loan applications.
Q. Can I choose between a fixed and floating interest rate?
A. YES Bank offers personal loans at fixed rates only.
Q. What is the minimum credit score required to avail YES Bank personal loan?
A. YES Bank has not specified the cut-off credit score for its personal loan applicants. However, the applicants with credit scores of 750 and above have higher chances of availing personal loans at lower interest rates.
Read more: How to build/improve your credit score using Step UP Credit Card