YES Bank personal loans are quick and easy to avail at competitive interest rates. The bank offers financial assistance to both existing and new customers. You can use the amount for various personal purposes like a holiday, wedding, medical expenses, education, or home construction. These can be repaid in easy EMIs. You can apply online or offline without pleading any collateral with the bank. To know more about features, eligibility, documentation, and application process, continue reading this blog.
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YES Bank Personal Loans
YES Bank personal loans are unsecured loans. These are offered up to INR 50 lakhs at interest rates starting from 10.49% p.a. The bank offers the lowest interest rates and a part-payment facility. A flexible repayment tenure of up to 72 months (6 years) is offered. By entering your application number after applying, you can check the application status of your YES Bank online loans.
| Maximum Loan Amount | Up to INR 50 lakhs |
| Interest Rates | 10.49% p.a onwards |
| Repayment Tenure | 72 months (6 years) |
| Minimum Salary | INR 25,000 per month |
Also Read: Check here all the major details about Personal Loans and Tax Benefits
YES Bank Personal Loan Interest Rates & Charges
Personal loans from YES Bank are offered at competitive interest rates starting from 10.49% p.a. However, it may go up to 20% p.a. These are as lower than the interest rates on personal loans from SBI and ICICI Bank personal loans.
This enables salaried and self-employed individuals to apply for cost-effective and affordable personal loans from YES Bank. The bank prioritizes transparency by clearly outlining processing fees and other charges. Check out the table for more details-
| Interest Rates | 10.49% to 20% p.a |
| Processing Fees | Up to 2.5% of the loan amount |
| Repayment Mode Swap Charges | INR 750 per transaction |
| Loan Cancellation Charges | INR 1,000 |
| Statement of Account Charges | INR 750 |
Eligibility Criteria
To be eligible for personal loans from YES Bank, you need to be a salaried employee with a minimum monthly salary of INR 25,000. Self-employed individuals and professionals can also apply with a stable source of income. Here’s the breakdown of key requirements that you must fulfil to be eligible for personal loan:
- Age: You must fall between 21 years to 60 years, as set by the bank.
- Employment Status: You must be employed full-time with a reputable organization.
- Income: Your income should meet the bank’s minimum requirements, which is INR 25,000 per month.
- Credit Score: An excellent CIBIL score for a personal loan significantly enhances your chances of approval and securing a lower interest rate. It should ideally be more than 650 to 700.
Also Read: Having a bad credit history? Check out how to avail of personal loans with low CIBIL scores.
Documents Required
You need to prove your reliability by submitting a list of documents when applying for personal loans from YES Bank. Documents related to identity, address, income, employment, and credit history must be attached or uploaded when filling out the personal loan application form of the bank. Check out the list below-
- A valid government-issued photo ID like your Aadhaar card, passport, or driver’s license for your identification.
- Recent utility bills, a rental agreement, or any document to confirm your current address.
- Provide salary slips, income tax returns, or bank statements for income verification.
- An employment letter or proof of business ownership strengthens your application by showcasing your professional standing.
- Credit Report highlighting your creditworthiness and past repayment history.
YES Bank might ask for additional requirements. It’s always best to check with them directly to ensure you have everything they need.
How to Apply for Personal Loan from YES Bank Online?
You can apply for a personal loan offline (via branch visit) or online (the official website). However, before applying you need to calculate the loan amount and repayment tenure that suits your budget. Determine the loan amount using the eligibility checker online and prepare the necessary documents like ID proof, address proof, income proof, and employment details.
Follow the steps given below for a hassle-free application process for online loans-
- Visit the official website of YES Bank.
- Navigate to ‘Loans’ and click on ‘Consumer Loans’.
- Now click on ‘Personal Loans’.
- Click on ‘Apply Online’.
- Fill in the details as asked and submit.
- YES Bank will verify your application and contact you for further steps.
This was all about the personal loan features of YES Bank. To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
FAQs
YES Bank personal loans are unsecured loans. These are offered up to INR 50 lakhs at interest rates starting from 10.49% p.a.
YES Bank offers the lowest interest rates on personal loans starting from 10.49% p.a. This enables salaried and self-employed individuals to apply for cost-effective and affordable personal loans from YES Bank.
To be eligible for a YES Bank personal loan, the minimum monthly salary of an individual must be INR 25,000.
Absolutely. YES Bank offers higher loan amounts of up to INR 50 lakhs at the lowest interest rates starting from 10.49% p.a. There are no hidden charges and the bank prioritizes transparency by clearly outlining other charges.
To be eligible for personal loans from YES Bank, you need to be a salaried employee with a minimum monthly salary of INR 25,000. Self-employed individuals and professionals can also apply with a stable source of income.
