Yes bank has quickly established itself as one of the largest private lending financial institutions in India. The other services offered by the financial institution other than the Yes bank personal loan are investment banking, corporate finance, etc. Yes bank has more than 600 branches across India. Yes bank personal loan provides you with financial assistance for all of your urgent capital needs- you can fund your wedding expenses, take that last-minute unplanned trip as well as consolidate any of your impending debts. Other than that, you can also make use of the loan amount for home renovation purposes. Further, you don’t even need to have a guarantor or any collateral to apply for a personal loan through Yes bank.
Yes bank personal loan rates are in the range of 10.75% to 14% p.a. And if you are still confused regarding your personal loan interest rates; you can easily calculate them by making use of an EMI calculator on the ApnaLoan website.
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The various reasons why you should opt for a Yes bank personal loan are here as follows:
- The maximum amount of financial assistance that you can avail via Yes bank personal loan is up to 40 lakh rupees whereas the minimum is 2 lakh rupees.
- Further, Yes bank offers flexible repayment options in the form of EMIs (equated monthly installments); thus, you can easily plan out and repay the entire borrowed sum without any hassles. The minimum repayment tenure is of 12 months and the maximum is 60 months.
- You can even prepay the Yes bank personal loan and the charge of doing so after 12 months is around 4% of the outstanding amount (exclusive of tax).
- The best thing about opting for a Yes bank personal loan is that the financial institution provides the borrowers with a simple application process; other than that, the approval and disbursal of the loan amount is quick and simple.
- The processing fees charged by the Yes bank are around 2% of the borrowed capital.
However, the financial institution has kept a set of eligibility criteria that you need to fulfill in order to obtain the loan amount.
The Yes bank personal loan eligibility criteria that you need to meet are here as follows:
- The applicant needs to be in the age group of 25 years to 58 years in order to be eligible to apply for the Yes bank personal loan.
- Yes bank also checks your income amount to determine the repayment capability. The minimum amount of income that you need to earn is around 25,000 rupees or above.
- Further, the financial institution also gauges your creditworthiness on the basis of your credit score. Thus, ensure that you have a credit score above 750 before you decide to apply for a personal loan; hence, repay all of your previous and current debts in time.
- Yes bank also checks your employment status; thus, ensure that you have been at least working for 6 months with your current employer. Further, also ensure that you have been staying at your current place of residence for more than a year (owned or rented property) before you apply for a Yes bank personal loan.
Further, you also need to possess all the valid Yes bank personal loan documents to successfully apply for the loan amount.
The different sets of documents that you need are here as follows:
- Yes bank loan application form filled with correct information.
- Your income proof in the form of salary slips, your last 3 months bank statement.
- Valid address proof- where you have been staying for more than a year (electricity bill, passport, etc.)
- Your identity proof can be- driving license, voting ID, etc.