Personal loans are much needed when we are in financial trouble or needed more money for any planned or unplanned events. If you need a Personal Loan Yes Bank can be a better choice for you.
Today we will discuss Yes Bank Personal Loan in detail. the detailed review will help you to decide if you can go with Yes Bank Personal loan or not.
But before let’s brush up about personal loans.
What is Personal Loan?
It is a loan in which we borrow money from a bank, credit union, or NBFC (Non-Banking Financial Company) to meet our personal needs or requirement.
These loans are generally Unsecured means you do not have to put anything in collateral with the bank like cars, properties, etc.
As this is an unsecured loan, the interest rate will be always higher due to the risk associated with it.
Well!! we got an idea about Personal loans so far. Let’s move to Yes Bank personal loan features.
Yes Bank Personal Loan Features & Benefits
There are several features and benefits of Yes Bank personal loan. You can find them as mentioned below.
- Yes Bank offers a personal Loan from Rs. 1 Lakh to Rs. 40 Lakh.
- The loan repayment tenure will be ranging from 12 months to 60 months.
- You do not need to put anything in collateral to get the loan.
- You can calculate your EMI using Yes Bank personal loan EMI Calculator.
- It provides an easy way to check your eligibility online using personal loan eligibility calculator.
- The amount will be credited to your bank account within an hour once your personal loan has been processed and sanctioned.
- The Interest rate is competitive that will start from 10.99%.
- You can apply Yes Bank personal loan online.It is fast and efficient.
- You will get the lending decision within five days after the submission of your loan application.
- It also provides the facility of loan transfer i.e high-cost personal Loan from other banks or institutions to lower interest rates.
- Doorstep Banking facility is available. Yes Bank staff will visit your home or office when you apply for a personal loan for completion of application form and document verification.
- It provides part pre payment option only after 12 EMIs.
Types of Loans Yes Bank Offers
Yes, Bank offers various types of personal loans. you can find below personal loans available for the customers.
- Personal Loan for Holiday
- Personal Loan for Wedding
- Personal Loan for Home Renovation
We will discuss all the above personal loans in brief.
Yes Bank Personal Loan for Holiday
If you have planned to visit somewhere and there is a financial crunch, yes bank provides you a personal loan for the holiday so you can enjoy quality time with loved ones.
It will cover most of your expenses, including, flight tickets and hotel charges. it can also help to cover travel accessories depending on the loan amount.
Yes Bank Personal Loan for Wedding
Wedding is the most important event in anyone life and it should not be delayed or postponed because of the money. Yes, Bank is there with its wedding loan.
It will make sure that all your wedding costs are covered. you can also cover the cost of jewelry, clothing, decoration, catering under this loan.
Yes Bank Personal Loan for Home Renovation
If you are facing a shortage of money for important home maintenance or renovation, Yes Bank will help you by providing a home renovation loan.
It has the best plans available, custom-made to meet the demands of you and your family.
Yes Bank Personal Loan Eligibility & Requirements
- In order to be eligible for a Yes Bank personal loan, you must be between 22 and 58 years of age.
- You must earn a regular income of at least Rs. 25000 per month.
- You must submit other recurring monthly expenses, including any current EMIs.
- Need to provide Employer details and Employment history (years at current job).
- Require to fill the time period spent at the current address whether it is rented, owned or mortgaged.
- If you are self employed you need to show most recent individual tax return from Income Tax department.
Documents Required for Yes Bank Personal Loan
There are a few basic documents that have to be provided by everyone as mentioned below.
- Application form
- Address proof
- Income Proof ( last 3 months salary slips)
- Identity Proof ( passport, driving license, Aaadhar card, voter ID)
- If you are self employed, you need to show proof of Business i.e Business certificate or Registration
NOTE: You may need additional documents while applying for a loan depending on your outline.
Yes Bank Personal Loan Fees & Charges
| Charges Description | Charges |
|---|---|
| Loan Processing Fees | Up to 2.50% of the sanctioned loan amount. |
| Foreclosure Charges (allowed only after repayment of 12 EMIs) | 13-24 Months of EMI repayment – 4% of Principal Outstanding 25-36 Months of EMI repayment – 3% of Principal Outstanding 37-48 Months of EMI repayment – 2% of Principal Outstanding 48 Months of EMI repayment – NIL |
| Pre-Part Payment Charges | 2% + applicable taxes on part payment amount paid |
| Duplicate No Due Certificate/ No Objection Certificate | Rs. 250 per statement |
| Duplicate Statement of Account Charges | Rs. 750 per statement |
| Charges for Late Payment of EMI | 24% per annum on the amount outstanding from the date of default |
| Stamp Duty & other Statutory Charges | As per the applicant State location |
| Cheque Swapping and Dishonour Charges | Rs 750 per transaction |
| Loan cancellation/Re-booking Charges | Rs 1000 + tax |
| Duplicate Repayment Schedule | Rs. 750 per schedule |
| Statement of Account Charges | Rs. 750/- Per Statement |
| Legal / Incidental / Collection Charges | At actuals |
How to Apply for Yes Bank Personal Loan Online
Customers can apply for a personal loan at Yes Bank online or by visiting their nearest Yes Bank branch. It also provides the doorstep service to complete the documentation process at your home or office.
Follow the steps below to proceed with the Yes Bank personal loan.
If the Applicant does not have an account in Yes Bank:
- Visit the Yes Bank official Website
- Enter your details like name, mobile number, Email ID, PAN card number,select annual income, company name and click on the Submit button.
- You will get a call from Yes Bank about the procedure and other details.
- If you meet all the criteria, your loan amount will be approved.
If the Applicant has an account in Yes Bank:
If you have already an account in Yes Bank, follow the below procedure.
- Visit Yes Bank Net Banking official website and Log in using your ID and Password.
- Once you log in successfully click on the option Loans from the top menu and select Personal Loan.
- On the next screen Enter your registered mobile number and Customer ID and click on the Proceed button.
- An OTP will be sent to the entered mobile number. Enter OTP and click on the Verify button.
- Once your OTP is verified, on the next screen choose your Loan Purpose from the drop-down, check the box I am an Indian Citizen and click on the Continue button.
- Next, you need to enter your basic information like Name, DOB, employment details, Salary details,PAN card details, fill your EMI details if any and click on the Continue button.
- Based on your entered details, on the next screen you will see if you are eligible for loan and if it is yes, you will also see how much you are offered as a loan amount along with Monthly EMI, processing fee, rate of interest, tenure etc.
- After going through all the details, if you are happy with the amount and interest, click on Accept and Continue button.
- On the next screen click on Complete Your Application button.
- Now, Upload your Photo, Enter your personal details like current address, permanent address, Employer details, References, KYC and Income proof.
- Once all the required documents is uploaded successfully, your loan will be processed and sanctioned.
- You will receive the amount within 24 hours to your Bank Account.
How Yes Bank Personal Loan Repayment Works?
Yes Bank offers flexible repayment options in the form of easy EMIs ranging from 1 to 5 years. The loan amount will be auto-debited from your bank account automatically as agreed.
Just make sure that there is a sufficient amount in your bank account on the due date to avoid any extra fees or charges.
Yes Bank Contact Details
Yes Bank Customer Care Number (India) =
- 1800 1200 (Toll Free)
Yes Bank Customer Care Number (Outside India) =
- +91 22 4935 0000 (From Outside India)
- 1833 380 0149 (USA)
- 1833 491 0559 (CANADA)
- 800 048 9153 (UK)
- 8000 3570 2510 (UAE)
Yes Bank Email Address =
Yes Bank Help through SMS =
SMS HELP
Conclusion
In this article, we have discussed how you can apply for Yes Bank Personal loans. Along with it, we have also seen the charges and fees.
I hope this will help you to calculate your loan requirement including fees and interests. make sure to always check hidden charges if any while applying for any personal loan.
It offers various types of personal loans based on personal requirements so it can be a good option.
Read Also
- Kotak Mahindra Bank Personal Loan Review | How to Apply for Kotak Bank Personal Loan
FAQs
A personal loan will depend on the applicant’s profile. if he/she maintains his/her finances well, he might get a low-interest rate. However, the interest rate starts at 10.99%.
Yes Bank offers personal Loan of Rs. 1 Lakh to Rs. 40 Lakh for tenure ranging from 12-60 months.
Yes Bank will let you know its decision after 5 working days from the date of receipt of the application.
Yes, it does but only for a limited time period. keep checking the yes Bank website if you are eligible for pre-approved loans.
Yes, you can pay your loan amount early however this facility is available with applicable charges after satisfactory payment of 12 EMIs.
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