Yes Bank Personal Loan

Yes Bank is the fourth largest private sector bank in India and is the only Greenfield bank license awarded by the RBI in the last 10 years. Founded in 2004 by Rana Kapoor and Ashok Kapoor, the bank has received several national and international honours for their various businesses. One of the popular product that has helped the bank grow is Yes Bank personal loan. With interest rates starting 10.75%, you can get easy approval on loan amount up to ₹25 lacs. Be it for purchasing consumer durables or for medical emergencies, a Yes bank personal loan can be the answer to all your money problems.

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Why Choose Yes Bank Personal Loan?

Following are some of the reasons for you to choose Yes bank personal loan:

  • Easy and fast approval
  • Special interest rates for women borrowers
  • Easy and fast approval
  • Interest rates starting 10.75%
  • No guarantor, no collateral required
  • Loan amount starting from Rs 1 lac and goes up to Rs 25 lacs
  • Hassle-free application process with 100% transparency
  • Flexible repayment tenure, ranging from 12-60 months
  • Balance Transfer with top-up available
  • Quick disbursal with money in your account within a few days
Yes Bank Personal Loan Interest Rate

The rate of interest for personal loan from Yes Bank starts from 10.75%. However, factors such as your credit score, credit history, your relationship with the bank, and the bank’s internal policies are also considered.

SALARIED INDIVIDUAL Loan Amount
Interest Rate10.75%
Loan Tenure12-60 months
Age22 to 60 years (at the time of loan maturity)
Processing FeeUp to 2.50% of the loan amount subject to a minimum of Rs. 999/- plus taxes
Part/Pre-Payment Charges Prepayment allowed only after 12 months.
Foreclosure ChargesForeclosure of Loan is allowed post repayment of 12 EMI’s

FEATURES AND BENEFITS

Competitive Interest Rates

Yes Bank offers attractive interest rates starting from 10.75% to its applicants. However, the interest rate offered depends on the applicant’s credit history too.

Flexible repayment options

With its Personal Loan Diva offer, Yes Bank provides a special loan scheme to women employees. 100+ Diva offers are available for working women to achieve their needs and goals. They can take a pre-approved personal loan upto Rs. 3 lakh. The procedure to avail this offer is very simple - you just need to intimate the bank through a call or email. After that, a unique Diva number is generated and sent to your email id. You need to verify the product code and follow further procedures to avail the offer.The applicant can choose the tenure of his/her loan. As per the Equated Monthly Instalments(EMIs), the individual can manage their funds accordingly.

Balance Transfer Available

With Yes bank personal loan, you can get your high-interest personal loan transferred at lower interest rates. Moreover, you can additionally avail for more during the process.

Part/Pre-payment options

You can also opt to part pay or prepay your personal loan at very nominal charges.

No Security, No Guarantor

You are not required to provide any security or guarantor when taking a Yes bank personal loan.

Insurance Cover

You get an insurance cover along with your personal finance scheme for a nominal premium. It provides you an accidental cover up to Rs. 8 lakh. In addition, you also get covered for a critical illness up to Rs. 1 lakh.

Easy Approval

Get easy approval on personal loan from Yes bank with minimum documentation. The application process is simple and hassle-free.

100% Transparency

Take advantage of the efficient customer support that provides 100% transparency throughout the lending procedure.

Quick disbursal

Once the application is processed, the funds will get disbursed within a few days.

Yes Bank Personal Loan Eligibility Criteria

An applicant must fulfill the following eligibility criteria to get easy approval on a personal loan from Yes Bank.

1

Monthly Net Salary should be at least ?25,000/- in hand (Net Salary)

2

Age – 22 to 60 years (at the time of loan maturity)

3

Nature of Employment- Salaried

4

Total work experience must be at least of 2 years with a minimum of 6 months at the current place of work.

5

Minimum of 2 years at current residence if it is rented. Owned/parental owned requires no condition.

Yes Bank Personal Loans Documents Required
1

Proof of Identity & Age

(Aadhaar Card/Passport/Voter ID/Driving License)

2

Proof of Address

(Aadhaar Card/Passport/Telephone or Electricity bill/Ration card/ Rental Agreement)

3

Salary slips

(Salary slips of last three months with Form 16)

4

IT returns

(IT returns for the last two years)

5

Bank statement

(Bank statement of salary account for the last 6 months)

Why Apply for Yes Bank Personal Loan at IndiaLends?

The collaboration of Yes bank with IndiaLends can help customers get the best loan offers as per their requirements. With a simple online application process and easy personal loan eligibility check, personal loan is now available with ease. Moreover, you can calculate your Equated Monthly Instalments (EMIs) with our EMI calculator.

1

Easy & Quick Approval

After filling the online application, you can get easy and fast approval subject to your profile.

2

Personalized offers

With few documents and verification check, the loan process becomes simple and easy.

3

Cash within a few days

We never need any room for delay. Which is why we try our best to get funds transferred to your bank account as soon as possible.

4

Efficient Customer Support

IndiaLends provides a dedicated customer support team that is proactive in resolving queries and helping in any grievances.

5

Real Time Tracking Facility

IndiaLends has a dedicated customer support team and helpline which is always ready to help with any grievances or questions from loan applicants.With IndiaLends, you can track your application after submission. You will also get on-time updates about your loan status via both, email and SMS.

How To Apply for Yes Bank Personal Loan at IndiaLends?

1

Registration

Fill our easy & simple online application.

 
2

Quick Verification

We will review your application and get back to you shortly.

 
3

Loan Disbursal

Get money in your bank account in no time.

We will forward your loan application to your nearest Yes Bank branch. You can also check the loan application status via IndiaLends App/web using "Track My Application."

How do I calculate YES BANK personal loan EMI?

EMI plays a key role in every loan application process as they help an individual manage their debts along with the monthly budget. This is why it is important to calculate the EMI for your YES BANK personal loan to first assess your affordability.

The general formula to calculate EMI is complex, tedious and time-consuming. Which is why you can now calculate EMI for your YES BANK personal loan easily using IndiaLends personal loan EMI calculator. All you need to do is use the slider to add the necessary values( the principal amount, interest rate and loan tenure) to know the EMI payable.

Yes Bank Personal Loan Balance Transfer

Yes Bank personal loan balance transfer helps you to transfer your high-interest loan into loan with low-interest at affordable EMI’s. This not only helps in reducing the interest cost but also helps in easy repayment of your personal loan.

Wondering how to balance transfer your personal loan to Yes Bank? All you need to do is provide all the details of your existing loan including principal, interest rate and loan tenure. Moreover, you need to provide the repayment track record of the past 12 months before approval.

The documents required for Yes Bank personal loan balance transfer are:

Salary slips

Bank statements

Identity proof

PAN card

Address proof

Yes Bank Personal Loan Processing Time

YES Bank personal loans have a hassle-free application process with approval within a few days. Generally, a personal loan is processed within 7-10 days from the date of submitting the application. However, it also depends on the the documentation process. In order to process YES Bank personal loan application, one must provide the following documents:

Complete form along with photograph and signature

Copy of voter ID card/driving license/passport

A Processing fee cheque

Bank statement of last 3 months/Passbook statement of last 6 months

Documentation for salaried applicants:

  • The most recent salary slip
  • Salary certificate of current date along with the latest Form 16

Documentation for self-employed applicants:

  • The most recent Bank statement
  • Recent ITR or Form 16

Yes Bank Personal Loan Preclosure

YES Bank personal loan also provides preclosure facility at nominal charges. However, preclosure of YES Bank personal loan are varied as follows:

13-24 Months 4% of principal outstanding
25-36 Months 3% of principal outstanding
37 – 48 months 2% of Principal Outstanding
>48 Months Nil

Please note that personal loan of preclosure can be allowed only after 12 EMI’s. In order to pre-close your personal loan, you can follow these steps:

  • Step-1: Go to YES BANK’s website and select the option of the closing of loan account from the list mentioned in the e-services tab.
  • Step-3:Once the payment is done, please ensure to collect the No Dues Certificate.

Yes Personal Loan Top Up

YES Bank personal loan offers top up facility over your existing personal loan. It is designed for individuals who have an existing personal loan and require extra funding. The following features of YES Bank personal loan top up are:

  • Flexible repayment options
  • Minimum paperwork required
  • Attractive interest rates
  • Easy and Quick Approval

Yes Personal Loan Status

You can track your personal loan status through YES Bank personal loan through the official website of YES Bank. All you need to do is log in to your loan account by entering the following details:

Loan account number

Date of birth

Name of the applicant

You can also track your loan application via IndiaLends app by selecting “Track my Application”. Please note this facility is available only if you’ve applied for Yes Bank personal loan via IndiaLends.

Yes Bank Personal Loan Fees and Charges

Description Charges
Loan processing fees Upto 2.5% of the loan amount subject to a minimum of Rs 999/- plus taxes
Foreclosure charges Salaried - 13-24 Months - 4% of Principal Outstanding, 25-36 Months - 3% of Principal Outstanding ,37 – 48 months - 2% of Principal Outstanding ,
>48 Months - Nil

Some frequently asked questions(FAQs) regarding YES bank personal loan

Q. What are the pre-closure charges and the pre-closure process?

A. The charges for YES BANK pre-closure are nominal. Moreover, the pre-closure of YES BANK personal loan is allowed only after 12 EMI’s. The varied charges for pre-closure are:

13-24 Months 4% of principal outstanding
25-36 Months 3% of principal outstanding
37 – 48 months 2% of Principal Outstanding
>48 Months Nil

All you need to do to pre-close your loan is to go to YES BANK’s website and select the option of the closing of loan account from the list mentioned in the e-services tab. After filling in all the necessary details, a request from your side is sent to the bank requesting them to close the loan. Once the payment is done, please ensure to collect the No Dues Certificate.

Q. How can I receive my Repayment Schedule?

A. The loan repayment schedule provides every detail of the loan including the loan amount, the repayment period and the interest payable. You receive the repayment schedule just after the loan amount is disbursed.
In a case where the original repayment schedule is lost, a duplicate repayment schedule comes with a charge. In the case of a duplicate repayment schedule for YES BANK personal loan, a charge of Rs 750 per schedule is charged.

Q. When is the No Dues Certificate dispatched?

A. Once you have closed a personal loan by paying the entire amount, you receive a No Dues Certificate or NDC. NDC states that the borrower is no more liable to the lender and has repaid the loan in full. Please note that an NDC will not be provided if the loan is settled or written off.

Q. How do I change my mode of instalment payment from PDC to ECS?

A. If you wish to change your instalment payment method from PDC(Post-dated cheques) to ECS (Electronic Clearing Service), you need to visit the respective bank. After you fill out an application, the necessary changes will be done and the cheques will be returned to you. Thereafter, the payment is automatically debited from your bank account.

Q.Does YES BANK offer multiple personal loan products?

A. YES BANK does not offer multiple personal loan products. However, the personal loan offered by YES BANK can be used for multiple purposes including home renovation, marriage, and others.

Q. How much loan can one avail through a YES BANK personal loan?

A. The maximum loan amount that can be availed through a YES BANK personal loan is Rs 25 lacs.

Q. How can a borrower repay the loan amount?

A. There are multiple repayment options to pay off your monthly equally instalment options. You can pay the EMI’s via post-dated cheques or through ECS or a standing instruction to debit your bank account with the EMI amount.

Q. Is prepayment of a personal loan permitted by YES BANK?

A. You can make a prepayment of a YES BANK personal loan after a lock-in period of 12 months. However, the amount you can prepay is limited which is:

20% principal outstanding for 12 – 24 months

20% principal outstanding for 25 – 36 Months

25% principal outstanding for 37 – 48 Months

25% principal outstanding for 49 – 60 Months

Q. What are the prepayment charges imposed by YES BANK?

A. The prepayment charges imposed by YES BANK are 1% plus applicable taxes on the part payment amount paid.

Q.Is part payment of a personal loan permitted?

A. Part-payment is allowed in YES BANK personal loan after a repayment of 12 EMI’s. However, the repayment can be done for a certain amount which is:

20% principal outstanding for 12 – 24 months

20% principal outstanding for 25 – 36 Months

25% principal outstanding for 37 – 48 Months

25% principal outstanding for 49 – 60 Months

Q. Will an applicant be required to provide proof of income while applying for a loan?

A. Yes, an individual is required to provide proof of income while applying for a loan. A salaried individual must provide the salary slips for the last 3 months whereas a self-employed individual must provide ITR for the last 3 years.

Q. Does YES BANK levy any loan cancellation charges?

A. YES BANK levies a penalty of Rs 1000/- plus taxes in the event of cancellation. Both, the cancellation and interest charges are to be borne by the customer.

Q. Where can I find the YES BANK personal loan application form?

A. You can apply for YES BANK personal loan via IndiaLends to get faster approval. With the collaboration of YES BANK and IndiaLends, customers can get the best loan offers as per their requirements.

Q.How do I postpone/reschedule my EMI payments?

A. In order to postpone/reschedule your EMI payments for YES BANK personal loan, you must contact the bank and ask for the necessary changes. The bank might at first ask for some details to verify the account before making the changes.

Q. Do I have to pay extra charges to change the instalment payment date?

A. There is no extra charge that needs to be paid to change the instalment payment date. However, the amount that is pending will be added to the EMI. Let’s suppose you are making a payment of Rs 4000 on 2nd of every month. However, if you wish to postpone the date from 2nd of that month to the 5th, you wouldn’t be asked to pay any extra charges but the amount for the extra 3 days will be added to the EMI.

Q. Will there be a penalty to be paid if the EMI is paid late?

A. In a case where the EMI is paid late for YES BANK personal loan, there will be a penalty of 24% per annum on the amount outstanding from the date of default.

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