Yes Bank Personal Loan @ 10% | Types of Loans, Features and Eligibility Criteria

Yes Bank Personal Loan: Personal loans are nothing but a loan taken majorly for oneself. It’s a small basic expense in which a person credits from banks, union banking, or “NBFCs” that are non-banking financial companies, so it meets the requirements of a person daily. It’s helpful for a single commodity.

Personal loans are not backed up with collateral because they are unsecured. In a personal loan, with the help of yes bank personal loan calculator, the lender is not relying on a borrower’s asset but depends on the person’s credibility, judged mostly by credit score. Personal loans can be used for home renovations, weddings, medical expenses, or personal expenses, but the fact to be driven is that it has a higher amount of interest than others.

To discuss personal loans, one needs to check Yes Bank’s loan rate of interest, and we get all these through the Yes Bank Personal Loan customer care portal provided on the Bank’s website.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

Yes Bank

Yes Bank Overview

Yes Bank is a private bank in India, headquartered in Mumbai, Maharashtra. The Bank had its biggest collapse on 5th March 2020 because it had an excessive amount of loans, so the Reserve bank of India took over its control. Later, RBI constructed a board name where they made Sunil Mehta, the non-executive chairman of Yes bank.

How to Apply for a Personal Loan in Yes Bank?

Customers can apply for a Personal Loan at YES BANK online or by visiting their nearest YES BANK branch. The steps that customers should follow while applying for a loan with YES BANK are as follows.

Step 1: Assessment for the requirement of Loan. The first step needed to be done by customers is to determine the amount of money they will need to loan and chalk out their plans for the repayment of said Loan.

Step 2: The customers need to find out their eligibility for a personal loan at YES BANK (Direct access to the bot)

Customers can do the needful by clicking on the link provided by the Bank on their website. They will be asked to fill in details such as:

  • Age
  • Monthly Income
  • Other recurring monthly expenses, including any current EMIs
  • Employer
  • Employment history: years at current job
  • The period spent living at current residence
  • Whether it is rented, owned, or mortgaged

Step 3: After this, the customer will get a call from YES BANK and ensure that the customer has all the required documents, including knowing your customer (KYC) and proof of income.

Yes Bank Personal Loan Documents Required

  • The filled loan application form with all the details required.
  • Identity proof: identity proof for the person applying for the Loan. It can be their passport, Voter ID Card, Driving License, or AADHAR Card.
  • Address proof: A valid form of proof of permanent address. One can provide their electric bill for this address proof.
  • Income proof: a proof of income of the person applying for the Loan. His or her bank statement from the last three months is required.

Yes Bank Personal Loan Features

Yes Bank offers a personal loan to its customers starting from 1 lakh to 40 lakhs at the interest rate of 10.99 %for the 12-60 months range. This long tenure provided by the Bank helps one ensure the period and method of payment the customer will pay back the loan.

The feature of the personal loans offered by Yes Bank are as follows:

  • There is no need for collateral.
  • YES, BANK allows its customers to choose the tenure of their Loan. Thereby, the Customers can calculate the monthly installment (EMI) they need to be paying across the loan tenure to determine a repayment schedule and the repayment method that would suit the customer best.
  • Customers are given the provision to check their eligibility for a YES BANK personal loan in very minimal time by using the personal loan eligibility calculator provided on the Bank’s website. Mobile users can also use YES BANK mPower Bot for 1-minute in-principle loan approval.
  • Yes Bank provides a very fast and smooth transaction of funds to the account mentioned by the customer for the Personal Loan. Yes Bank funds will be disbursed in a matter of hours, ensuring they are available at a moment’s notice for any emergencies such as medical payments.
  • Customers can easily apply for a loan online via the loan application portal on the Yes Bank Website.
  • Yes Bank customers also have the option if they want to transfer their high-cost personal Loans from other banks or institutions.
  • Yes Bank provides for its customer the service of Doorstep banking where if a customer applies for a personal loan, a bank representative will visit the customer and aid in the completion of the personal loan application.
  • Yes Bank also provides its customers with a part pre-payment option where the customer is allowed to partly pay the amount of the loan before the end of the loan tenure.

Types of Personal Loans offered by Yes Bank

There are many distinct types of personal loans that are being provided by the Yes Bank services in which they give the customer various types of personal Loan be it for leisure or for an emergency.

Holiday Personal Loans

Yes Bank provides its customers with personal holiday loans where customers can enjoy their vacation without being in a situation requiring money.

A personal loan for a holiday from YES BANK assists the customer cover most of their expenses, including flight tickets and hotel charges.

It can also help cover travel accessories depending upon the size of the Loan.

Wedding Loans

A wedding in India is generally a matter of spending money on big amounts. Thus, Yes Bank offers its customers wedding loans so that one does not have to come under a cash crunch during the wedding.

Wedding Loans from YES BANK offer the customer quick cash during their time of need and thereby making sure that all the wedding costs are covered.

One can incorporate various needs such as jewelry, clothing, decoration, catering to be under such a loan.

Home Renovation Loans

Yes Bank provides its customers with Home renovation loans in order to make sure the customers don’t put off on home renovation in need of money. In Yes Bank Home Renovation personal loans, YES BANK offers the customer the best of plans, custom-made to meet the demands of the customer.

Takeaways from the Article

Thus, this concludes the article detailing personal loans and, in particular, Yes Bank Personal Loan. It is very integral to understand the basics and intricacies of the methods to apply for personal loans. This article details a few of the important things to know and understand in order to apply for a personal loan.

The information about personal loans is not just limited to this article. One must always read carefully the terms and conditions a specific bank puts out before applying to it for a loan.

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