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.
Following are some of the reasons for you to choose Yes bank personal loan:
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.
22 to 60 years (at the time of loan maturity)
Up to 2.50% of the loan amount subject to a minimum of Rs. 999/- plus taxes
Prepayment allowed only after 12 months.
Foreclosure of Loan is allowed post repayment of 12 EMI’s
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
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.
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.
Get easy approval on personal loan from Yes bank with minimum documentation. The application process is simple and hassle-free.
Take advantage of the efficient customer support that provides 100% transparency throughout the lending procedure.
Once the application is processed, the funds will get disbursed within a few days.
An applicant must fulfill the following eligibility criteria to get easy approval on a personal loan from Yes Bank.
Monthly Net Salary should be at least ₹25,000/- in hand (Net Salary)
Age – 22 to 60 years (at the time of loan maturity)
Nature of Employment- Salaried
Total work experience must be at least of 2 years with a minimum of 6 months at the current place of work.
Minimum of 2 years at current residence if it is rented. Owned/parental owned requires no condition.
Proof of Identity & Age
(Aadhaar Card/Passport/Voter ID/Driving License)
Proof of Address
(Aadhaar Card/Passport/Telephone or Electricity bill/Ration card/ Rental Agreement)
(Salary slips of last three months with Form 16)
(IT returns for the last two years)
(Bank statement of salary account for the last 6 months)
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.
After filling the online application, you can get easy and fast approval subject to your profile.
With few documents and verification check, the loan process becomes simple and easy.
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.
IndiaLends provides a dedicated customer support team that is proactive in resolving queries and helping in any grievances.
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.
Fill our easy & simple online application.
We will review your application and
get back to you shortly.
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."
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 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:
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:
YES Bank personal loan also provides preclosure facility at nominal charges. However, preclosure of YES Bank personal loan are varied as follows:
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:
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:
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:
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.
|Loan processing fees||Upto 2.5% of the loan amount subject to a minimum of ₹999/- plus taxes|
|Pre/part payment charges||1% plus applicable taxes on part payment amount paid|
|Duplicate No dues Certificate||₹250/- per event|
|Late EMI payment charges||24% per annum on amount outstanding from date of default|
|Cheque bounce charges||₹750/- for every cheque bounce plus taxes|
|Loan cancellation charges||Charges ₹1000/- plus taxes (both interest and cancellation charges to be borne by the customer)|
|Duplicate Repayment Schedule||₹750 for every schedule|
|Statement of Account Charges||₹750/- per Schedule|
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.
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 ₹750 per schedule is charged.
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.
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.
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.
The maximum loan amount that can be availed through a YES BANK personal loan is ₹25 lacs.
It is not mandatory to have a guarantor/collateral to avail a YES BANK personal loan. However, this also depends on the loan amount you wish to seek, your credit history and your monthly income.
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.