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Yes Bank Personal Loan

Online Yes Bank Personal Loans

Last Updated 08th Jun 2021

Yes Bank Personal Loan is the most popular personal loan in India given its low interest rates, quick approval, and online process. Key selling points of Yes Bank Personal Loan are:

  • Yes Bank Personal Loan interest rate starts from 10.70%.
  • The processing fee charged on Yes Bank personal loan is 1499.
  • Yes Bank also offers pre-approved personal loans at low rates for customers with strong credit history and those with an existing account with the bank.
  • The bank has an online application process where the KYC and documents submission can be done digitally.
  • You can easily check the status of your Yes Bank personal loan application status on a real time basis on the bank’s website or by visiting their customer care centre.
  • Yes Bank has special schemes for different income and occupation groups.
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Yes Bank Personal Loan Details

  • Interest Rate on Yes Bank personal loan ranges from 10.70% to 19.99%.
  • Lowest EMI per lakh works out to be ₹ 2,159 , as calculated on the lowest rate and longest loan tenure.
  • Personal Loans by Yes Bank are available for salaried working with government, private sector, MNCs and self-employed professionals such as doctors within the age group of 21 to 60 years.
  • Loan amount can range from ₹ 2 Lakh to ₹ 20 Lakh
  • Yes Bank Personal Loan can be availed for a period of 12 months and can go up to 60 months.
  • Processing Fees charged by Yes Bank on personal loan is 1499%
  • Yes Bank allows personal loan foreclosure and part prepayment after 12 months with charges of Up to 4%.
  • Yes Bank also has various other post loan disbursement charges including
    • Cheque Bounce Charges - ₹ 750
    • Loan Cancellation Charges - ₹ 1000
    • Additional Repayment Charges - ₹ 750 + GST
    • Other Charges - ₹ 750
  • Schemes of Yes Bank as offered to different type of borrowers in 2021 are:

How to Get the Best Offer on Yes Bank Personal Loan?

There are various factors that impact your chances to get the best offers on Yes Bank Personal Loan, as listed follows:

  • Loan Amount - Yes Bank offers loans between ₹ 2 Lakh and ₹ 20 Lakh and charges lower rates on higher loan amount and vice-versa, so apply accordingly.
  • Salary - Yes Bank offers personal loan to all customers with a net take home monthly salary of more than ₹ 18,000. The rate of interest is higher if you fall in the low salary bucket and lower if you fall in higher income bucket.
  • Employer Category - Yes Bank has clubbed the companies in a high to low category based on internal assessment of company’s size, reputation, profitability etc. When you apply for Yes Bank personal loan, the bank will decide on your interest rate based on the company category you fall in. MyLoanCare can also help you check which category of company you qualify in to help you get the best offer.
  • Relationship with the Bank - Yes Bank offers special rates to the existing customer of the bank, who have a high likelihood of getting loans at lowest interest rate starting at 10.70%
  • Credit Score - Yes Bank checks the CIBIL score of personal loan customers which has to be minimum of 650. Higher the CIBIL Score, higher is your chance of securing best offer.

Yes Bank Personal Loan Documents

You require the following documents to avail personal loan from Yes Bank

  • Filled up loan application form or an online form, if you are applying online
  • 2 Passport Size Photo
  • Identity Proof – One of the following: Driving License, PAN, Passport, Voter ID, Aadhaar Card
  • Residential Address Proof – One of the following: Registered Rent Agreement, Passport, Leave and License, Utility Bill of last three months
  • Income Documents – Copy of Form 16 of last 2 years, 3 month pay slip, 3 months bank statement showing salary credit and any EMI debit

Types of Yes Bank Personal Loan Schemes

Yes Bank offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

YES BANK Personal Loan for Holiday
  • You can avail of Yes Bank personal loan for holidays to plan your dream holiday with your loved ones for a loan amount upto Rs. 40 lakhs. It covers most of your expenses, including flight tickets, hotel charges, travel accessories and more, depending on various eligibility factors such as income, age, CIBIL.
YES BANK Personal Loan for Wedding
  • With Yes Bank Personal Loan for a wedding, you can finance one of the most important days of your life. You can avail of loan amount ranging from Ra. 1 lakh to Rs. 40 Lakh based on your loan eligibility and fulfil various expenses for the wedding such as jewellery, clothing, decoration, catering etc.
  • You can avail of a personal loan to redecorate or refurbish your household space with YES BANK personal loan for Home Renovation. The funds you can avail of will vary on your profile, including your credit score, income, employment history; however you can avail of loan amount upto Rs. 40 Lakh.

How to Apply for Yes Bank Personal Loan?

The step-by-step procedure to get a personal loan online from Yes Bank is mentioned below:

  • Visit the official website of Yes Bank Or contact your nearest Yes Bank branch.
  • Now, fill personal, professional and financial details as required by the lender and submit the form.
  • Once you have submitted the application form, Yes Bank will check your eligibility and provide you with information about the eligible amount you can avail.
  • If you agree to process the application, then you would be required to submit the essential documents which can also be uploaded online.
  • Finally, your documents will be processed by Yes Bank, and on successful approval of the loan, the funds will be disbursed to your Yes Bank account immediately.

You can also apply for Yes Bank personal loans by visiting their branch or by calling their customer care centre.Offline mode are mentioned below:

  • Visit the nearest Yes Bank branch and fill in the application form with the loan amount required, your personal details, occupation information and your contact number.
  • The Yes Bank representative will explain about the eligibility of the loan as well as the loan rates, terms as well as processing fees, prepayment and foreclosure clauses.
  • After submitting the application form and required documents, you will be provided with an application reference number. You can use the same number to track the status of your Yes Bank Personal Loan application.
  • On successful verification, the loan can get disbursed immediately after loan sanction and signing of the agreement.
Illustration on Personal Loan Yes Bank
Maximum Annual Percentage Rate (APR) 10.7% to 19.99%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 12 Months to 60 Months
  • Yes Bank Personal Loan Interest Rate: 10.70% to 19.99%
  • Processing Fee payable to: NIL
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 2,159 for 60 Months ₹ 1,00,000 loan at 10.70% (lowest rate, longest time period) to ₹ 9,263 for 12 Months ₹ 1,00,000 loan at 19.99% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 10.7% to 19.99%
  • Total cost payable over loan tenure: ₹ 1,05,890 for 12 Months loan to ₹ 1,29,559 for 60 Months loan

Personal Loan from Other Banks in India

FAQs

How much time will the Yes Bank take to take a decision on my personal loan?

Banks generally convey their decision on a loan within 15 days of submitting a loan application. However, some banks also offer instant loan offers, which can be approved within a few hours to 2-3 days.

Why should I take a personal loan from Yes Bank ?

Below-mentioned is the reason why you must avail a personal loan from Yes Bank.

  • Online approval & disbursal during Covid
  • Nil foreclosure charges after 12 EMIs
  • Special offers for top corporate
  • Part payment facility available
  • Top up on existing loan

How much interest is charged by Yes Bank on personal loan?

Personal loan interest rates in Yes Bank are 10.70% to 19.99%. Yes Bank personal loan interest rate for salary account holders are comparatively lower than that for other customers.

What is the lowest EMI per lakh on personal loan from Yes Bank ?

If you apply for loan from Yes Bank, your lowest Personal Loan EMI per lakh will be ₹ 2,159 which corresponds to lowest interest rate of 10.70% and longest tenure of 60 years.

What is the minimum and maximum tenure of personal loan in Yes Bank?

Yes Bank personal loan has a minimum tenure of12 months to maximum 60 months.

How much personal loan amount I can borrow from Yes Bank?

Yes Bank offers you loan if you need a minimum amount of ₹ 2 Lakh to a maximum amount of ₹ 20 Lakh

Can I add my spouse's income while applying for personal loan from Yes Bank?

Yes, you can add the income of your spouse to increase your Personal Loan Eligibility andto get a higher loan amount from Yes Bank . In this case, the bank will check the CIBIL score of your spouse and ask for all income and bank statements of your spouse for the purpose of processing your application

How can I get Yes Bank personal loan?

You can get a personal loan from Yes Bankby directly visiting the nearest branch or can apply online at their website. While these two are the traditional methods of applying, you can easily apply for the loan at MyLoanCare website where you can do a thorough comparison of all loan details, rates and charges before deciding to proceed with Yes Bank’s application process.

How can I check my Yes Bank personal loan status?

You can check the status of your loan online and offline. Once you have applied for a personal loan from Yes Bank, you will be given an application number. You can use that application number and registered mobile number to check the status of your loan online at Yes Bank's website. In case you are unable to track your application online, you can get Yes Bank loan assistance at Yes Bank loan customer care centre and ask them to help you out with the status. If you have applied for the loan through MyLoanCare, you can check the status of your application by logging into MyLoanCare account.

What is the importance of credit score if I wish to avail a Yes Bank personal loan ?

It is important to have a good credit score if you wish to apply for a personal loan from Yes Bank. A credit score above 750 is considered good for a personal loan. A low credit score increases the chances of rejection of your application.

Is there security or collateral needed to get a personal loan from Yes Bank?

No, Yes Bank does not require any collateral or security to lend you the personal loan as it is an unsecured loan.

Can I close my Yes Bank personal loan after 1 year?

You can close your personal loan from Yes Bank after 12 months by paying charges: Up to 4%

Can I negotiate with Yes Bank on the personal loan interest rate?

Yes, as a customer, you should negotiate for a rate discount when you apply. You may end up getting a better rate from the bank if you have applied for a high loan amount and are in a high income range working with a reputed company.

How to pay your Yes Bank personal loan EMI?

You can pay your Yes Bank personal loan EMI by using ECS facility or through Standing Instruction.Yes Bank also provides you the facility to pay your Personal Loan EMI online using net banking and mobile banking.


Yes Bank Personal Loan Reviews 4.5/5  by 127 customers
MyLoanCare Service
4.6/5.0
Banks Service
4.3/5.0
Pavan, Hyderabad
Reviewed on 13th Jun 2021
4.5 / 5 stars
Yes Bank Personal Loan Availed in Jun 2021

I needed a top up loan of 5 lakhs. I reached out to MyLoanCare, they were very professional and helpRead more...

Ronak, Bhuj
Reviewed on 12th Jun 2021
5 / 5 stars
Yes Bank Personal Loan Availed in Jun 2021

Very professional and excellent service provided by Gaurav Sharma. Thanks to him and MyLoanCare stafRead more...

Ambati, Hyderabad
Reviewed on 11th Jun 2021
5 / 5 stars
Yes Bank Personal Loan Availed in Jun 2021

Excellent service, thanks to MyLoanCare team and especially Mr.Chinmoy.Read more...

Mohd, Hyderabad
Reviewed on 11th Jun 2021
4.5 / 5 stars
Yes Bank Personal Loan Availed in Jun 2021

Very good service by MyLoanCare. I will also suggest to my friend and family members. Read more...

Salla, Nellore
Reviewed on 08th Jun 2021
5 / 5 stars
Yes Bank Personal Loan Availed in Jun 2021

MyLoanCare assistant Simran took care of every step of loan process with utmost care.Read more...

Arpit, Delhi
Reviewed on 24th May 2021
5 / 5 stars
Yes Bank Personal Loan Availed in May 2021

My first experience with MyLoanCare was so smooth.Read more...

Sujit, Thane
Reviewed on 24th Apr 2021
4 / 5 stars
Yes Bank Personal Loan Availed in Apr 2021

Very polite and respectful behaviour.Read more...

Nilesh, Patna
Reviewed on 22nd Apr 2021
4.5 / 5 stars
Yes Bank Personal Loan Availed in Mar 2021

Excellent service, very responsive and great quality! Would highly recommend. Specially Monica, thanRead more...

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Yes Bank Personal Loan News - Jun 2021
  • 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.
  • 2021-01-05 : YES BANK retail loan disbursal to become easier and faster
    YES BANK has joined hands with Salesforce to make its retail loan disbursal easier and faster. This collaboration aims to engage customers with a unified experience and drive aggressive retail-led growth for the bank. Further, the partnership will improve the disbursal process of retail loans like home, personal, car, two-wheeler, gold and education loans.
  • 2020-07-28 : Yes Bank reported a net profit of 45. 44 crore for June quarter
    YES Bank posted a 60.05% year-on-year fall in net profit at Rs 45.44 crore for the quarter ended June 30. The Bank had posted a net profit of Rs 113.76 crore in the corresponding quarter last year. Deposits at Rs 1,17,360 crore grew 11.4% QoQ aided by 26.4% QoQ growth in current account deposits and 12.6 per cent QoQ growth in term deposits which includes fixed and recurring deposits. CASA ratio stood at 25.8%. Further, Net interest income was at Rs 1,908 crore bolstered by home, personal, gold, car and two-wheeler loan along with business and mudra loans.
  • 2020-07-06 : YES Bank introduces instant loan disbursement facility
    Private lender, Yes Bank has launched an instant loan disbursement facility. The facility will help the retail customers like that of home, personal, gold, two-wheeler, and car loan to apply for the loan in a smooth and fast manner.
*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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