Yes Bank Personal Loan Interest Rates
Yes Bank offers its customers Personal Loans ranging from Rs. 1 Lakh up to Rs. 40 Lakhs at the most competitive interest rates starting @ 10.99% p.a. The tenure ranges from 12 months to 60 months. Yes Bank marked up External Benchmark Lending Rate (YBL - EBLR) w.e.f. 01.03.2021 is 7.60%
Yes Bank Personal Loan Rate of Interest 2024
Some of the most important Yes Bank personal loan details are given below:
| Loan Amount | Rs. 1 Lakh - Rs. 40 Lakhs |
| Rate of Interest | 10.99% |
| Tenure of Repayment | 12 - 60 months |
| Lowest EMI Possible | Rs. 2,174 Per Lakh |
| Processing Fee | Up to Rs. 4,999 or up to 2.5% of loan amount |
| Foreclosure Charges | Up to 4% of principal outstanding |
| Part Prepayment Charges | 2% plus applicable taxes on part payment amount paid |
| Yes Bank marked up External Benchmark Lending Rate (YBL - EBLR) w.e.f. 01.03.2021 | 7.60% |
Factors Affecting Yes Bank Personal Loan Interest Rate
The following factors determine the personal loan interest rate you can expect to get from Yes Bank and this will help you systematically plan your finances.
- Loan Amount: The amount borrowed from a customer from the bank. Usually, the banks offer a lower interest rate for a higher amount. Yes Bank offers Personal Loan between Rs. 1 Lakh and Rs. 40 Lakhs.
- Salary: Your earnings and income define your eligibility to repay the loan. Usually, a higher salary bracket individual is offered a loan at a lower interest rate. Interest rates of the bank differ based on your net monthly income.
- Employer Category: Yes Bank maintains an internal list of companies that fall into categories that are ranked from high to low company categories based on the company's reputation, size, and existing relationship with the bank. Employees who belong to companies in reputed categories get the best discounts and a low interest rate.
- Relationship with the Bank: Yes Bank offers some special rates, offers, and charges to its existing account holders. Those customers who have managed their accounts well and made all the payments timely in the past will get the benefit of low interest rates and better discounts on the loans availed from Yes Bank.
- Loan Tenure: Personal Loans are of a shorter period, usually ranging from 12 months to 60 months as they are taken to meet the immediate and urgent requirements. Usually, longer tenure attracts a higher interest rate.
- Repayment Capacity: Yes Bank checks and verifies the repayment capacity of the borrower before lending any loans. This is done through CIBIL as it has the repayment track record of previous loans taken and credit card bill payments.
Yes Bank Personal Loan Fees & Charges
| Purpose | Charge/Fee |
|---|---|
| Processing Charge | Up to Rs. 4,999 or up to 2.5% of loan amount |
| Foreclosure Charges (Allowed after 12 EMIs) |
|
| Part Prepayment (Allowed after 12 EMIs) | 2% plus applicable taxes on part payment amount paid |
| Issuance of NOC | Rs. 250 per event |
| Late EMI Payment | 24% p.a. on the amount outstanding from the default date |
| Stamp Duty + Other Statuary Charges | As per law |
| Cheque Swap Charge | Rs. 750 per event plus applicable taxes |
| Bounce Charges | Rs. 600 – 1,200 per bounce |
| Loan Cancellation/ Rebooking | Rs. 1,000 + applicable taxes*interest to be borne by the customer in the event of loan cancellation |
| Legal/Incidental Charges | At actual |
| Duplicate repayment schedule, statement of account etc | Rs. 750 per event + applicable taxes |
Benefits of Taking a Personal Loan from Yes Bank
Yes Bank personal loans are popular among our customers due to their benefits, which include:
- Unsecured Loans - Where you are not required to give any security or guarantor when taking a Personal Loan from Yes Bank.
- Flexible Repayment Options Available
- Quick Disbursal of Funds, As soon as your application for a Personal Loan gets processed then your funds get disbursed within a matter of few hours.
- Attractive Interest Rates - This starts at 10.99%. easy application process accessible online with only basic documentation.
- Easy Transfer of Your Existing Loan
- Part Pre-Payment Option Available
- Yes Bank has several offers on personal loans for existing account holders. It also offers special schemes, offers, and discounts for employees of large companies.
Yes Bank Personal Loan Interest Rate Comparison with Other Lenders
How to Apply for a Yes Bank Personal Loan through MyMoneyMantra?
In case, you plan to get a loan from Yes Bank the process is easy. All you need to do is apply for a personal loan at MyMoneyMantra. The loan application will be processed online and Yes Bank's representative will get in touch with you immediately to take the loan process ahead. You will get free services from MyMoneyMantra's personal loan advisor who will make sure that the lending process is quick and you get the best suitable personal loan from Yes Bank.
Yes Bank Personal Loan - Customer Care Numbers
- Yes Bank Toll-Free Customer Care Number is 1800 2000
- An Alternate number is: +91 22 6121 9000
- You can email your queries here: yestouch@yesbank.in
- Or, SMS 'HELP' space to +91 92233 90909
Yes Bank Personal Loan Interest Rates FAQs
Unlike other banks, Yes Bank offers loans at a 10.99% interest rate combined with the lowest EMI of Rs. 2,174 per Lakh. Therefore, if you are paying an EMI more than this amount then you can opt for a balance transfer and relocate your loan to Yes Bank.
The interest rates in Yes Bank range from 10.99% in the case of personal loans.
Concerning Yes Bank, you can repay your loan in a flexible time of a minimum of 12 months to a maximum of 60 months.
Yes Bank offers you a loan with a minimum amount of Rs. 1 Lakh to a maximum amount of Rs. 40 lakh.
Yes, you can opt for part-prepayment of your Yes Bank personal loan. However, this facility can be availed only after the payment of 12 EMIs.
Yes, age is a vital factor in checking the eligibility of a customer to get a personal loan. You need to be at least 21 years old at loan approval time and 60 years old at loan maturity time.
No, you don't have to bring a guarantor for a Yes Bank personal loan.
Yes Bank allows you to combine your income along with your spouse's income so that you increase your loan eligibility and get a higher loan amount.