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Yes Bank Personal Loan Eligibility Calculator

Yes Bank Personal Loan Eligibility 2021

Last Updated 19th Jul 2021

Eligibility CriteriaSalaried Self Employed Professionals
Profession that are eligible for Yes Bank Personal LoanSalaried people working in government, private or MNCs companies Professionals like Doctors, CA, CS, Architects
Applicant Age21 - 60 years25 - 65 years
  • High credit score and better financial stability lead to high personal loan eligibility from Yes Bank.
  • Yes Bank requires you to meet certain eligibility factors related to age, number of years of work experience and type of residence you live in to be able to get a personal loan.
  • Yes Bank calculates the amount of personal loan you are eligible for using a formula that includes your net take home salary and your existing loans or EMIs you have to pay currently.
Personal Loan Eligibility Calculator
Yes Bank Personal Loan Eligibility

Yes Bank offers various personal loan schemes and offers, at affordable rates to eligible customers. Yes Bank Personal loan eligibility is based on factors like age, salary, occupation and cibil score. You can avail personal loan from Yes Bank, even if you are salaried or self-employed. The eligibility criteria, however may be slight different for self employed. A detail information on these factors is mentioned in the further sections.

Yes Bank Personal Loan Eligibility based on Age
  • Age: The minimum age requirement for availing a Yes Bank personal loan is 21 years and the maximum age is 60 years.If you are aged below 21 years, you are considered as ineligble borrower as you might not fulfil the income criteria for the loan.
Yes Bank Personal Loan Eligibility based on Salary
  • Net Income : Your eligibility is determined by your net monthly income to understand so that your loan EMI’s are not affecting your living standards. Yes Bank asks for a minimum net income of ₹ 18,000 per month to avail a personal loan.
  • FOIR : FOIR (Fixed Obligation to Income Ratio) is an important parameter that is used to determine your Yes Bank personal loan eligibility. Yes Bank takes all your fixed obligations (like rent or current EMIs) into account while estimating your eligibility. Minimum FOIR required to be eligible for personal loan from Yes Bank is 0.45. Use Yes Bank personal loan eligibility calculator to estimate your eligibility and apply online for the eligible loan amount hassle-free.

Illustration- Mr. A who is 25 years old has a net income of ₹ 18,000. He wants to take a personal loan of ₹ 1 Lakh for 60 months. Yes Bank allows a maximum FOIR of 0.45.

Based on the information provided by the applicant, Yes Bank will calculate his eligibility using the eligibility calculator. With a salary of ₹ 18,000, the maximum amount he is eligible for is ₹ 3.75 Lakh. The interest he has to pay for this amount for 60 months is 10.70%.

Yes Bank Personal Loan Eligibility based on CIBIL Score

  • CIBIL Score: When checking eligibility for a personal loan, Yes Bank will check the your complete Credit report, including all past running loans and your payment track record on loans and credit cards. Higher credit score increases your the chances that your loan application from Yes Bank will get approved. However, a low CIBIL score decreases your eligibility to get a personal loan. Yes Bank requires a minimum credit score of 650 to be eligible for a personal loan.

Yes Bank Personal Loan Eligibility based on Occupation

There are other factors related to you occupation which are responsible for the approval of the loan by Yes Bank, as listed below:

  • Job stability and profession - Job stability is important to improve your eligibility to get a personal loan from Yes Bank. Your total work experience and current work experience are assessed to evaluate your job stability and profession. Yes Bank looks for a minimum total experience of 24 months and also looks for applicants who have been employed in the current job for a minimum of 6 months.
  • Residence place and stability – Banks are very particular about your place of residence. Yes Bank has a pre-decided list of areas where the bank will lend the loan. The bank also has a negative list of area of locations in which it will not lend depending on the past credit behavior of borrowers from such localities. Yes Bank also gauges your residential stability by checking on the number of years since when you have been staying in your current residence. If you are staying in your own residence, it improves your chance of getting a loan from Yes Bank. Minimum residence stability to be considered by the bank is 12 months.
  • Industry Type – Yes Bank has a negative list of professions and type of industry, defined as customer or industry segments to which they will not give the loan. So, your chances of getting a loan approval also depends on your profession and industry you are employed in.
  • Salary Mode – Yes Bank considers salary transferred to the bank account as a secure and stable income with adequate income proofs. If you are earning well but getting salary through cash or cheque,the bank will not give you the loan because the bank needs concrete evidence of your salary to support your loan amount. So, salary transfer mode of payment is preferred by Yes Bank if you apply for a personal loan.

How can I Check my Yes Bank Personal Loan Eligibility?

To check Yes Bank personal loan eligibility you need to follow these steps:

  • Login to Yes Bank website
  • Go to Yes Bank personal loan
  • Now, check the eligibility criteria using the Personal Loan Eligibility Calculator. For this fill the required details such as Name, loan requirements, salary, age, etc.

In Addition to this, you can also contact the bank at their customer care number, 1800-1200.

Yes Bank Personal Loan Eligibility for Self Employed

Yes Bank personal loan eligibility criteria for self employed is as follows:-

  • You must be an Indian citizen with a professional degree holder like CA, CS, Doctor, Architect etc with degree registration.
  • You must be minimum of 21 years at the time of loan application.
  • You must have filed ITR for atleast 24 months to get a personal loan from Yes Bank.
  • You must have a gross annual reciept of more than ₹ 12,00,000.
  • Yes Bank checks your credit history to estimate your creditworthiness and your credit score must be above 650 to get a Yes Bank personal loan.

Other Loan Calculators

FAQs

What are the eligibility criteria to avail Yes Bank personal loan?

The minimum age of the applicant required to get a personal loan from Yes Bank is 21 year as the chances of meeting income eligibility criteria are very less below this age. The maximum age for salaried employees can go up to 60 years.

Is age an eligibility criteria to apply for a Yes Bank personal loan?

Yes, age is an eligibility criteria to apply for a Yes Bank personal loan. You should be of minimum 21 years to avail a loan from Yes Bank.

Am I eligible for Yes Bank personal loan if my CIBIL score is less than 300?

It is unlikely that you will be able to avail Yes Bank personal loan if your CIBIL score is less than 300. If you have a credit score less than 300 then it is considered bad and to avail a personal loan from Yes Bank, you must have a credit score above 650.

How can I improve my eligibility for Yes Bank personal loan?

To improve your Yes Bank personal loan eligibility you can add a co-applicant, maintain a high credit score, pay EMI’s and credit card bills on time and reduce your existing debts. These steps will help improve Yes Bank personal loan eligibility.

What should be my income to secure a personal loan from Yes Bank?

The minimum income for a salaried employee should be at least ₹ 18,000 per month to secure a personal loan from Yes Bank.However, the income criteria of Yes Bank may vary for metro cities, tier-1 or tier 2 locations.

How much work experience is required for personal loan from Yes Bank?

To get a personal loan from Yes Bank, you must be an earning individual working in a central/state government, private company or MNC.You must have a minimum work experience of 6 months for Yes Bank personal loan.

What is the maximum loan amount an applicant can get?

The maximum loan amount an applicant can get under a personal loan from Yes Bank is up to ₹ 20 Lakh.However, the eligibility criteria for every borrower is different as it is based on various factors like age, employment etc.

Will CIBIL Score affect my personal loan from Yes Bank?

Yes, CIBIL Score does have an impact on your personal loan. A good score indicates a good repayment record and hence most banks avoid giving loans if you have a low credit score. The minimum CIBIL score for personal loan is 650 and above.

Does adding a co-applicant increase personal loan eligibility?

Yes, adding a co-applicant increases your eligibility for a Yes Bank personal loan as it increases your repayment capacity. While availing loan from Yes Bank ensure that you add a co-borrower who has good income flow, limited fixed obligations and a strong credit score.

Do I need to have a guarantor to apply for Personal Loan from Yes Bank?

Personal loan is an unsecured loan, so Yes Bank assure that the amount gets repaid on time. However, if your credit score is good and there is no default in your past repayment history, then you do not need a guarantor to get a loan from Yes Bank .

Where can I get the company list which is eligible for Yes Bank personal loan?

Yes Bank does not prefer lending personal loans to companies identified under customer or industry segments. For details you can contact Yes Bank or can use the personal loan eligibility calculator.


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Yes Bank Personal Loan News - Jul 2021
  • 2021-07-08 : Yes Bank loans, advances shrink marginally at Rs 1.63 lakh cr by end of June quarter
    Yes Bank loans and advances that include Personal Loan, Home Loan, Loan Against Property, Business Loan, Education Loan, Gold Loan, Car Loan and Top-up Loan, fell by a marginal 0.4% to Rs 1.63 lakh crore by the end of June 30, 2021, data from the bank showed on Monday. The loans and advances stood at Rs 1,63,914 crore as of June 30, 2021, as compared with Rs 1,64,510 crore in the year-ago period, registering a marginal decline of 0.4% on a year-on-year basis.
  • 2021-07-06 : Yes Bank - Loans, advances shrink in Q1 over Covid-19 impact
    Yes Bank loans and advances shrank in the Q1 FY22 on a year-on-year basis and also sequentially, reflecting the economic and business impact of the Coronavirus (Covid-19) pandemic. Sequentially, the loan book that includes Personal Loan, Home Loan, Loan Against Property, Business Loan, Education Loan, Two-wheeler Loan, Car Loan, Gold Loan, Doctor Loan, Mudra Loan, etc. contracted by 1.8% to Rs 1,63,914 crore at the end of June 2021 from Rs 1,66,893 crore in the previous quarter ended March 2021.
  • 2021-06-23 : Yes Bank aims to double retail loan book in 3 years
    Yes Bank aims to double their retail loan book that includes personal loan, business loan, home loan, loan against property, top-up loan, professional loan, personal loan, gold loan, car loan, consumer loan and mudra loan in the next three years. Their SME book has already improved to 51% from 44% last year with the target to reach around 60% in the next two years.
  • 2021-03-09 : YES Essence, a holistic banking proposition for women launched
    YES Bank launched YES Essence, a holistic banking proposition for women across different customer segments. YES Essence provides offers, solutions and products for women covering categories like lifestyle, wellness, education, protection and investment. The banking proposition is aiming to aid women to fulfil their aspirations.
  • 2021-01-06 : Yes Bank reported 1.3% quarterly growth in loans and advances
    Yes Bank registered 1.3% quarter-on-quarter growth in loans and advances which includes home, personal, gold, car, two-wheeler and education loans along with business and mudra loans to Rs 1.69 lakh crore during the December quarter. Deposits which include fixed and recurring deposits grew 7.7% to Rs 1.46 lakh crore. Further, the current account and savings account deposits grew 12.6% to Rs 37,973 crore.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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