YES Bank Personal Loan Interest Rate

In today’s fast pacing world, it is crucial for individuals to pursue their dreams and aspirations. Whether it is funding a wedding or meeting unexpected expenses, personal loans have become a popular choice for many. YES Bank, a renowned name in the banking sector, offers tailored personal loan solutions to meet financial needs. 

However, before availing a personal loan from YES Bank, understanding the interest rates on these loans is essential for potential borrowers to make informed decisions. This article aims to shed light on YES Bank personal loan interest rates, helping individuals to unlock the financial flexibility they desire. 

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Personal Loan – Explained

A personal loan is a versatile financial instrument that offers individuals access to funds without requiring collateral. Personal loans are granted based on the borrower’s creditworthiness and ability to repay. These loans are typically offered for a short repayment tenure of 6 months to 5 years and hence interest rates charged are comparatively higher. 

Interest Rate, Fees & other charges – YES Bank Personal Loan

The interest rate, processing fees, and other charges for all types of personal loans offered by YES Bank are given below: 

Interest Rate10.99% to 20% per annum
Loan Processing ChargesUp to 2% on loan amount+ tax
Prepayment Charges4% of the outstanding principal amount
Stamp DutyAs per applicable laws of the state

Factors responsible for YES Bank Personal Loan Interest Rate 

The interest rates on personal loans offered by YES Bank are influenced by various factors. Understanding these factors can help borrowers anticipate the interest rates they might receive and make informed decisions. Here, are some key factors responsible for YES Bank personal loan interest rate. 

  • Credit Score
  • Financial History
  • Income Level
  • Relationship with the Bank

Suggested Read: Business loan Emi Calculator 

How is the interest rate assessed on YES Bank Personal Loan?

As per the policy and norms of YES Bank, the interest rates on personal loan starts from 10.99% and goes up to 20%. Its maximum personal loan amount is 40 Lakhs. Existing customers have an advantage in the loan approval process as it is easier to verify their accounts to check their financial history. 

Also, your credit score is a crucial factor that determines your creditworthiness. A credit score of 750+ is usually considered a good credit score and increases your chances of loan approval. 

How to apply for Personal Loan in YES Bank?

Applying for a YES Bank personal loan is quite easy and can be done by visiting the nearest bank branch or bank’s website. 

  • Determine the loan amount and repayment plan
  • Check for your eligibility to avail a personal loan at YES Bank, this can be done using the YES Robot
  • After checking the eligibility, fill out the loan application form.
  • Get a call from the bank, and make sure to have all the required documents. 
  • Now sit back and wait for the disbursal. 

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Features & Benefits – YES Bank Personal Loan Interest rate

The prime benefits of acquiring a personal loan from YES Bank are: 

  • Pre-payment options available
  • 1-minute loan approval
  • Flexible repayments
  • Doorstep banking
  • Efficient services

Documentation Required – YES Bank Personal Loan 

Here, are the documents required to secure a personal loan from YES Bank

  • Identity proof (Passport, Driving License, Aadhar Card, VoterID)
  • Address proof (Valid ID proof comprising of at least a year-old permanent address) 
  • Income proof (Bank statement of last 3 months)

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FAQs related  YES Bank Personal Loan Interest Rate 

Q.1 What is the minimum personal loan amount that one can borrow from YES Bank? 

YES Bank provides personal loans starting from Rs 1,00,000. 

Q.2 What is the repayment tenure of the personal loan offered by YES Bank? 

The repayment tenure of the YES Bank Personal loans ranges from 12 months to 60 months

Q.3 Is it mandatory to be an existing customer to avail of a personal loan from YES Bank?

No, it is not at all mandatory to be an existing customer to get a personal loan from YES Bank. 

Q.4 What is YES Bank’s customer care number?

YES Bank’s customer care number is 1800-1200 (toll-free). 

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✅Minimum Documents    ✅No Collateral     ✅Instant Disbursal