A Personal Loan is an unsecured personal loan where there is no requirement of depositing any security or collateral in advance. This loan is very convenient to use; you will get all the funds in the account in just a few hours only by sitting at home. No need for Co-signer is the major benefit of this loan. Furthermore, you can use this amount of personal loan to pay your credit card bills, to make your home and for wedding purposes. The customer can use this amount for anything as the bank doesn’t keep the record of it. In a personal loan, very less paperwork is required. You need IDs, address proof and past banking records.
Why apply for Yes Bank Personal Loan?
- Lowest interest rates
- Instant Approval in 2 hours
- Easy Documentation and flexible loan tenure
Yes Bank Personal Loan Eligibility
- The minimum age of the applicant should be 21 years and maximum up to 60 years.
- If the borrower is residing in a metropolitan city, then they should have a minimum income of Rs 18,000. And if the person is from a non-metropolitan city, then they should have a minimum salary of Rs 12,000.
- The borrower should have the work experience of the last three years, and the salary should come in their account only.
- If a person is applying for the personal loan, then he must have a good credit history.
- The documentation process is easy; they have to submit their bank statement of the last three months and the salary slip of the last six months.
- If a person is self-employed than the age of the applicant should be 25 years.
- The applicant should file ITR for the last three years.
- The credit score of the applicant should be good, and no debt should be left due.
- The ITR which the applicant files should be of Rs 2.5 lakhs per annum at least.
- And the applicant is having a business than his business should be running from the last three years
Yes Bank Personal Loan Documents
- ID proofs- PAN card/Aadhar card/Passport/Driving License/Employee ID.
- Address proofs mention- PAN card/Aadhar card/Passport/Driving License/Bank passbook/Ration card/any Utility bill (telephone, electricity, water, gas) of less than two months old/Letter from a recognized public authority verifying the customer’s residence/LIC policy or receipt.
- Proof of ownership - Electricity or water bill/property papers/maintenance bill.
- Current job proof - Current employment certificate or appointment letter(in case of more than two years).
List of documents (Self-employment)
- Proof of business existence-Sales deed or agreement/Saral copy of 3 years old/tax registration proof/Company registration license
- Proof of Income- Income tax returns of the last 2 years along with computation of income duly attested by a CA(chartered accountant)/audited balance sheet and Profit & Loss accounts/tax audit report if applicable/Bank statement: Latest 1 year bank statement (both savings and current)/Investment proof: fixed deposit, fixed assets, shares, etc.
- The need for professional Degree Certificate (in the case of professionals)
- If any existing loan in the past- Need to submit sanction letter, payment track record.
Yes Bank Personal Loan Interest Rates.
The interest rate may vary from person to person as it depends upon the salary and CIBIL score of the applicant. The interest rate of personal loan starts from 10.75% per year.
Factors which affect personal loan interest rates:
- Loan Tenure: If loan tenure is flexible then that we can change the interest rate as well as EMI according to our priority.
- High CIBIL score: You may get a 0.25% reduction in interest rates if your CIBIL score is more than 800.
- Top firms: If you do the job at reputed firms then there are chances that you may obtain a lower interest rate. The reason behind that is, lending institutions will perceive you of having a stable career and likely to make repayments on time.
- A healthy relationship with a bank: It affects very much to interest rates. Banks provide lower interest rates to loyal customers with whom they have a good relationship.
- Good salary: Individuals with higher income have most likely chances of repaying the loan. A stable income makes more chances of sanctioning the loan.
Yes Bank Personal Loan Tenure
The tenure of the personal loan is from 1 year to 5 years.
How to apply for Yes Bank Personal Loan
- Visit www.dialabank.com
- Go to the loan section and select a personal loan link.
- By clicking this link, you will be directed to all details of the personal loan where you can select your preferred city.
- You can call this number to get more information: 9878981166
About YES Bank
Yes, Bank Limited is a 4th largest private sector bank in India, founded by Rana Kapoor and Ashok Kapur in 2004. Mainly, it acts as a Corporate bank; retail banking and asset management as subsidiary functions. Yes, Bank has given short-term loans to a number of retail and corporate banks in Taiwan, Japan, USA, and Europe. This bank also has a strategic partnership with the US government based OPIC and with Wells Fargo. According to the data on 31 December 2017, Yes bank had 1050 branches and 1724 ATMs in India. It had a balance sheet size of 250,000 crores and Gross NPA of 1.72%, making it the fourth largest private sector bank in India.
Q. What is the maximum loan amount that can be sanctioned?
A. Loan amount offered by is up to Rs 20 Lakh.
Q: Are there any foreclosure charges for Personal Loan?
A. Yes, there are foreclosure charges in Yes Bank.
Q: How much time it takes for the approval of Personal Loan?
A: It takes 72 hours to get personal loan approval in Yes Bank.
Q: Does Yes Bank provides top up on existing loans?
A: Yes Yes Bank provides the top up facility on existing loans.
Q: What are the Interest Rates offered by the Yes Bank for the Personal Loan?
A: Personal Loan rates vary from 10.75% to 22.00% per annum, it depends on the Applicant’s profile, CIBIL score, and financial history.
Q: What is the Loan Repayment Tenure?
A: Yes Bank Personal Loan has a tenure of 1-5 years. The applicant is free to choose the loan tenure
Q: How can you repay a Personal Loan?
A: You can repay the Loan in the form of EMIs.
Other Personal Loan Providers (Click to Apply)
Lending Personal Loan Providers
|REMINDER SERVICES||EMI CALCULATOR|
Disclaimer: The information provided on www.dialabank.com is collected from public sources and is believed to be accurate and genuine. This site should be used as an information provider for different product offerings of Insurance companies and the visitor should make an independent verification with the Insurance companies to verify the claims made in the policy before making any purchase. The decision to Apply and/or Purchase a policy is at the sole and complete discretion of the website visitor and Dialabank.com cannot guarantee or can be held liable for loss or damage caused by claims made by insurance companies through their agents, partners, products or services, directly or indirectly.