Eligibility Criteria for Yes Bank Personal Loans in 2024
Eligibility Criteria
Details/Requirements
Age
Minimum age: 21 years, Maximum age: 60 years
Employment Type
Salaried individuals and self-employed
Minimum Income
Salaried: Monthly income of at least Rs. 25,000
Employment Stability
Salaried: Minimum 1 year of continuous employment with the current employer; Self-employed: Minimum 2 years of business continuity
Credit Score
A good credit score, typically above 700
Loan Amount
1 lakh – 40 Lakhs
Interest rates
From 10.99%
Loan Tenure
Minimum tenure: 12 months; Maximum tenure: 60 months
Existing Relationship
Existing Yes Bank customers may receive preferential terms
Documents Required
ID proof, address proof, Salary slips, income tax returns, or bank statements, and Passport size photograp
Processing Fee
Upto 2% of the loan amount
Repayment History
A good repayment history with no defaults or late payments on existing loans
Features of Personal Loan offered by Yes Bank
No Collateral required: You do not need to provide any collateral to avail the loan
Flexible Loan amount: With a Personal Loan EMI calculator, you can quickly calculate the repayment schedule with different parameters and choose the repayment schedule that fits you the most
SPEEDY Approval: After all the necessary documents have been submitted and verified, Yes Bank will approve the loan will confirm its approval decision within five days from the receipt of application
Quick Disbursal of Funds: Once your yes bank loan has been approved, funds will be transferred to your account in a matter of few hours
Easy to apply: Since the application process is digitalized, the whole loan application process only takes a few minutes
Part pre-payment option: If borrowers get some extra funds for a month, they have the option to choose to part pre-pay your YES Bank Personal Loan after paying 12 EMIs
Special Offers for Existing Customers:Existing Yes Bank customers may enjoy special offers, including preferential interest rates and processing fee waivers, enhancing the overall value of the personal loan.
Transparent Fee Structure: Yes Bank maintains transparency in its fee structure, detailing processing fees and other charges upfront, providing the borrowers knowledge beforehand