Introduction
Yes Bank offers personal loans with interest rates starting from 10.99% p.a., providing flexible loan tenures of up to 60 months and loan amounts ranging from Rs. 1 lakh to Rs. 40 lakh. These loans are designed to meet a variety of personal financial needs, such as medical emergencies, weddings, travel, or debt consolidation.
Yes Bank personal loans feature quick approval, minimal documentation, and no collateral requirement. Additionally, the bank offers flexible repayment options, ensuring that borrowers can manage their finances with ease while addressing immediate personal requirements.
Yes Bank Personal Loan Highlights
| Interest Rate | 10.99% p.a. onwards |
| Loan Amount | Rs 1 lakh-Rs 40 lakh |
| Tenure | 1-5 years |
| Processing Fees | Up to 2.5% |
Types of Personal Loans
| Type of Loan | Purpose | LTV Ratio | Tenure | Special Features |
| Wedding Loan | For personal or family needs | General Purpose | Up to 5 years | No collateral required; Quick approval; Flexible repayment options |
| Travel Loan | For salaried individuals | Up to 100% of annual income | Up to 5 years | Higher eligibility based on salary; Faster disbursal |
| Medical Loan | Medical expenses | Up to 100% of medical bills | Up to 5 years | Quick processing for urgent medical needs; Minimal documentation |
| Home Renovation Loan | Travel expenses | Up to 100% of travel cost | Up to 5 years | Covers entire trip cost; Flexible EMI options |
| Education Loan | Education expenses | Up to 100% of education fees | Up to 5 years | Covers tuition and related expenses; Repayment starts after course completion |
| Debt Consolidation Loan | Wedding expenses | Up to 100% of wedding cost | Up to 5 years | Covers all wedding-related expenses; Customizable repayment options |
Yes Bank Personal Loan Features & Benefits
- No collateral required.
- In-principle approval within 60 seconds.
- Fast approval and disbursal of loan.
- Easy online eligibility check process.
- Easy online application process.
- Flexible repayment options ranging between 12 months and 60 months.
- Facilities for transferring existing loans, doorstep banking, mobile banking, and part prepayment.
Yes Bank Personal Loan Interest Rate
| Customer Type | Effective Rate Of Interest |
| For Salaried | 10.50% to 17.50% per annum |
| For Self-employed | 11.25% to 18.00% per annum |
Yes Bank Personal Loan Processing Fees and Charges
| Fee Type | Details |
| Processing Fee | 1% to 2% of the loan amount |
| Prepayment/Foreclosure Charges | 2% to 4% of the outstanding principal amount |
| Late Payment Charges | 2% per month on the overdue amount |
| Documentation Charges | Varies depending on the loan amount and type |
| Stamp Duty | As per state laws |
| Loan Cancellation Charges | Interest for the period between disbursement and cancellation; processing fee is non-refundable |
| Cheque Bounce Charges | ₹500 to ₹1,000 per instance |
| Duplicate Statement Issuance Charges | ₹250 per statement |
| Loan Cancellation Charges | Processing fee is non-refundable, other charges as per terms |
| Charges for Copies of Documents | ₹500 per bounced cheque |
| Amortization Schedule Charges | ₹200 to ₹500 per request |
Eligibility Criteria for Yes Bank Personal Loan
| Requirements | Salaried | Self-Employed |
| Residency | Indian/NRI | Indian/NRI |
| Age | 21 to 60 years | 25 to 65 years |
| CIBIL Score | 700 or above | 700 or above |
| Minimum Net Income | ₹25,000 per month (varies by location and employer category) | ₹5 lakhs annual turnover (may vary based on business type) |
Documents Required for Yes Bank Personal Loan
1. Identity Proof:
- Passport
- PAN Card
- Voter ID
- Aadhaar Card
- Driving License
2. Address Proof:
- Passport
- Utility Bill (Electricity, Water, Gas)
- Aadhaar Card
- Ration Card
- Rental Agreement
3. Age Proof:
- PAN Card
- Passport
- Birth Certificate
- 10th Class Certificate
4. Income Proof:
- Salaried Individuals:
- Last 3 months’ salary slips
- Latest Form 16
- Self-Employed Individuals:
- Last 2 years’ Income Tax Returns (ITR)
- Audited Balance Sheet and Profit & Loss Statement
5. Bank Statements:
- Salaried Individuals: Last 3 to 6 months’ bank statements showing salary credit
- Self-Employed Individuals: Last 6 months’ bank statements of the business accounts
6. Employment/Business Proof:
- Salaried Individuals: Employment offer letter or employee ID card
- Self-Employed Individuals: Business registration certificate, Trade license, or GST registration certificate
7. Photographs:
- 2 to 3 recent passport-sized color photographs
8. Loan Application Form:
- Duly filled and signed loan application form
9. Signature Verification:
- A copy of the applicant’s signature as proof (can be on the PAN Card, Passport, or a cancelled cheque)
Yes Bank Personal Loan EMI Calculator
Calculate your EMI using Punjab Yes Bank’s online EMI calculator. Simply enter the loan amount, tenure, and interest rate to get an estimate of your monthly payments. [Link to EMI Calculator
Tips to Improve Loan Approval Chances
- Improve Credit Score: Maintain a CIBIL score of 750 and above.
- Reduce Existing Debt: Lower your existing debt before applying.
- Stable Income: Ensure consistent and stable income to meet eligibility criteria.
How to Apply for a Personal Loan at the Yes Bank?
- Visit the Yes Bank website or nearest branch.
- Click on ‘Apply Now’.
- Provide your personal and income details.
- Select “Yes Bank” from the list of lenders.
- Choose your preferred loan amount and repayment tenure.
- Submit the application.
- Contact Us at +91 636909 5433 or Visit Grow Associates for more convenient option
Types of Yes Bank Personal Loans
1. Wedding Loan
- Purpose: To cover wedding-related expenses such as venue, catering, attire, and more.
- Special Features: High loan amounts and quick disbursal to ensure funds are available when needed.
2. Travel Loan
- Purpose: To finance domestic or international travel plans, including flights, accommodations, and other travel-related expenses.
- Special Features: Flexible repayment options and minimal documentation for fast processing.
3. Medical Loan
- Purpose: To cover medical emergencies, surgeries, treatments, and hospital expenses.
- Special Features: Quick approval and disbursal to address urgent healthcare needs.
4. Home Renovation Loan
- Purpose: For home improvement or renovation projects, including repairs, remodeling, and furnishing.
- Special Features: Tailored loan amounts based on renovation costs, with flexible repayment options.
5. Education Loan
- Purpose: To finance higher education expenses, including tuition fees, books, and living expenses.
- Special Features: Competitive interest rates and no collateral required.
6. Debt Consolidation Loan
- Purpose: To consolidate multiple debts into a single loan, simplifying repayment and potentially lowering interest costs.
- Special Features: Lower interest rates on balance transfers and flexible repayment terms.
7. Top-up Loan
- Purpose: Available for existing Yes Bank personal loan customers who need additional funds on top of their existing loan.
- Special Features: Easy application process and quick disbursal.
8. Festival Loan
- Purpose: To cover expenses related to festivals, such as shopping, gifts, travel, and celebrations.
- Special Features: Shorter tenure with flexible repayment plans.
Why Apply for Personal Loans through Grow Associates?
- Offers from Top Lenders: 30+ partner Banks/NBFCs/Fintechs provide the best available loan at one place.
- Compare & Choose: Easily compare loan offers from top banks, NBFCs, and fintechs to choose the best option.
- Personalized Solutions & High Approval Chances: Personal loan offers are ranked according to your credit score and eligibility factors, maximizing your chances of approval.
- Pre-Approved Loans: Access pre-approved personal loan offers based on your credit health.
- End-to-end Assistance: From loan selection to fund disbursement, Grow Associates assists you at every step.
Compare Yes Bank Personal Loan with Other Banks and NBFCs
| Bank Name | Interest Rate | Processing Fee | Foreclosure Charges | Late Payment Fee |
| Yes Bank | 10.50% to 17.50% per annum | 1% to 2% of the loan amount | 2% to 4% of the outstanding principal amount | 2% per month on the overdue amount |
| Punjab National Bank | 8.80% to 14.85% p.a. | 1% of the loan amount + GST | 3% of the prepaid amount | 2% per month on the overdue amount |
| Bank of India | 10.50% – 14.50% p.a. | Up to 2% of the loan amount (min ₹1,000, max ₹15,000) | Nil for individual borrowers | 2% per month on the overdue amount |
| ICICI Bank | 10.99% to 22% p.a. | Up to 2.5% of the loan amount + GST | 5% of the outstanding principal amount + GST | 2% per month on the overdue amount |
| Kotak Mahindra Bank | 10.99% to 24% p.a. | Up to 2.5% of the loan amount + GST | 5% of the outstanding principal amount + GST | 2% per month on the overdue amount |
| HDFC Bank | 11% to 21% p.a. | Up to 2.5% of the loan amount + GST | 4% of the outstanding principal amount | 2% per month on the overdue amount |
| State Bank of India | 10.55% to 15.65% p.a. | 1% to 1.5% of the loan amount + GST | 3% of the prepaid amount | 2% per month on the overdue amount |
| Axis Bank | 12% to 24% p.a. | Up to 2% of the loan amount + GST | 5% of the outstanding principal amount | 2% per month on the overdue amount |
| Bajaj Finserv | 11% to 24% p.a. | Up to 3.99% of the loan amount + GST | 4% of the outstanding principal amount + GST | 2% per month on the overdue amount |
Brief Summary
Yes Bank offers a versatile personal loan product designed to meet various financial needs, such as weddings, travel, medical emergencies, home renovations, and more. With loan amounts ranging from ₹1 lakh to ₹40 lakhs, Yes Bank provides flexible repayment options, with tenures ranging from 12 to 60 months.
FAQs
1. What is the maximum loan amount I can avail of with a YES BANK Personal Loan?
You can avail of a personal loan amount ranging from ₹1 lakh to ₹40 lakhs, depending on your eligibility and credit profile.
2. How long does it take to process a YES BANK Personal Loan?
The processing time for a Yes Bank personal loan is typically within 24 to 48 hours after the submission of all required documents.
3. What is the tenure range for YES BANK Personal Loans?
Yes Bank offers a flexible repayment tenure ranging from 12 to 60 months.
4. Can I prepay or foreclose my YES BANK Personal Loan?
Yes, you can prepay or foreclose your Yes Bank personal loan after a minimum of 12 EMIs, subject to applicable foreclosure charges.
5. How can I apply for a YES BANK Personal Loan?
You can apply for a Yes Bank personal loan online through the Yes Bank website or mobile app, or by visiting any Yes Bank branch.
