YES Bank Personal Loans

YES Bank is one of the youngest private-sector banks in India with only 25 years in service. It was founded in 2004 by Ashok Kapoor and Rana Kapoor and is headquartered in Mumbai. It has already reached the position of being the fourth largest private sector bank in India. It has a vast network of over 1000 branches and 1800 ATMs. YES Bank offers a wide range of debit cards with dazzling features such as enhanced purchase limits, exclusive value-added services, and withdrawal limits. 

YES Bank Personal Loans

YES Bank provides attractive personal loans to its customers for fulfilling their different financial needs at very affordable rates of interest, hassle-free documentation, reasonable repayment options, and instant loan approvals. mymoneykarma gives you all the information you need on YES Bank personal loans.

Benefits of YES Bank Personal Loans

YES Bank personal loans are loaded with customer-centric benefits and features. The following are a few highlights of YES Bank personal loans.

1. Large loan amounts ranging from a minimum of Rs 1 lakh to a maximum of Rs 40 lakhs. The loan amount depends on the applicant's credit score, repayment capability, credit history, and yearly income.

2. Long loan tenures ranging from a minimum of 6 months and a maximum period of 60 months.

3. Attractive interest rates ranging between 10.75% to 16.99% per annum.

4. Loans available for salaried individuals, public and private company employees, and government employees.

5. Special offers on the applicant being an existing customer of YES Bank.

6. Various feasible repayment channels such as NEFT, post-dated cheques, and online banking.

7. Simplified loan application and approval process with minimal documentation.

8. Dedicated 24/7 customer service desk for query resolution.

9. The facility of doorstep document collection.

Here is a summary of all the information regarding YES Bank personal loans.

Interest Rate	10.75% to 16.99%
Minimum Loan Amount	Rs 1 lakh
Maximum Loan Amount	Rs 40 lakhs
Minimum Repayment Tenure	6 months
Maximum Repayment Tenure	60 months

Types of YES Bank Personal Loans

YES Bank offers the following types of personal loans.

Holiday Loans

These personal loans from Yes Bank can be used for planning holidays to exotic locations in India and abroad.

Eligibility Criteria

1. Minimum income of Rs 25,000 per month.

2. Sound repayment capability and a good credit score.

3. Minimum age of 21 years.

4. Maximum age of 65 years.

5. Minimum work experience of 2 years and 1 year at the current company.

Wedding Loans

These personal loans from Yes Bank can be used to cover the costs of a wedding in the family or of the applicant.

Eligibility Criteria

1. Minimum income of Rs 25,000 per month.

2. Sound repayment capability and a good credit score.

3. Minimum age of 21 years.

4. Maximum age of 65 years.

5. Minimum work experience of 2 years and 1 year at the present company.

Home Renovation Loans

These personal loans from Yes Bank can be used much like a home loan, for covering the costs of upgrading or renovating the applicant’s home.

Eligibility Criteria

1. Minimum income of Rs 25,000 per month.

2. Sound repayment capability and a good credit score.

3. Minimum age of 21 years.

4. Maximum age of 65 years.

5. Minimum work experience of 2 years and 1 year at the present company.

Best Personal Loan Interest Rates 2019

The interest rates of personal loans from other banks are also given below.

Banks	Interest rates
Axis Bank	11.25% - 24%
HDFC Bank	10.99% - 20.00%
SBI	12.50% – 16.60%
Kotak Mahindra Bank	11.00% - 24.00%
Bajaj Finserv	2.00% - 16.00%
Standard Chartered	10.99% - 16%
Fullerton India	12% - 25%
IndusInd Bank	10%-30.50%
CitiBank	10.99% - 18%
IDBI	12.45% - 13.50%
IDFC Bank	11.69% - 15.00%
PNB	11.65% - 12%
ICICI Bank	10.75% - 16.99%
Andhra Bank	11.55% - 14%
RBL Bank	14.5% - 23%
Canara Bank	13.5% - 14.5%
Tata Capital	11.75% - 19.00%
Bank of Baroda	11.05% - 11.6%

Documents Required for YES Bank Personal Loans

Applicants need to submit the following documents while applying for YES Bank personal loan.

1. A filled loan application form with necessary details such as income, occupational details, and personal information.

2. Copies of the applicant's PAN card and Aadhaar card.

3. Copies of income proof such as salary slips of the previous three months, bank statements of the last three months, and a copy of Form 16.

4. Copies of residence proof such as telephone bills, electricity bills, or rental agreement attested by the applicant.

5. Two copies of recent passport sized photographs.

How to Apply for YES Bank Personal Loans Online

Applicants can directly apply for YES Bank personal loans online by visiting the YES Bank website and downloading the personal loan application form. They must submit the filled form and upload the required documentation on to the portal. Then, the applicant profiles are evaluated and the loan amount is deposited in the applicants’ accounts within 5 working days.

How to Apply for YES Bank Personal Loans Offline

Applicants can visit the nearest YES Bank loan centre along with their documentation. They can fill up the application form received at the bank and submit it with the documentation and the bank approves the loan within 5 working days if the applicant profiles meet all the eligibility criteria.

Frequently Asked Questions

1: What is the duration for YES Bank personal loan application approval?

Answer: YES Bank notifies the applicants of the loan approval within a maximum of 120 working hours from the date of the application. With mymoneykarma, get your loan approved within 24 hours.

2: What is the loan amount of YES Bank personal loans?

Answer: YES bank provides personal loans with a minimum loan amount of Rs 1 lakh and a maximum amount of Rs 40 lakhs.

3: What is the rate of interest on YES Bank personal loans?

Answer: YES Bank offers reasonable interest rates ranging between 11.50% - 16.75% per annum.

4: Is prepayment of loan allowed with YES Bank personal loans?

Answer: Yes, YES Bank personal loan provides the facility of pre-closure of the loan before the completion of the loan tenure only after the payment of 12 EMIs.

5: Does the YES Bank personal loan have any pre-closure charges?

Answer: Yes, YES Bank personal loans charges a fee of 5% of the approved loan amount as pre-closure charges.

6: What are the other fees associated with YES Bank personal loans?

Answer: Here is a list of fees associated with YES Bank personal loans.

Loan Processing Charges	2.5% of the loan amount + GST
Foreclosure Charges	4% of the loan amount + GST
Pre-payment or Part-payment charges	nil
Legal/incidental charges	As actuals
Charges for late payment of Loan amount	24% of the loan amount
Stamp Duty & other Statutory Charges	As applicable by state laws
Re-Issuance of photocopy of loan agreement/documents	Rs 250 + GST
Duplicate NOC	Rs 250 + GST
Cheque swapping charges	nil
Loan cancellation charges	nil