YES BANK offers personal loans of up to Rs.40 lakh to both salaried and self-employed individuals, provided they meet the pre-specified eligibility criteria. Before approving a personal loan application, YES BANK checks an applicant’s age, monthly income, outstanding liabilities, employment status and history, work experience, and the number of years the individual has lived in their current residence.
|Age||21 to 60 years||25 to 65 years|
|Income||Rs.25,000 Per month (if they reside in tier 1 cities)
Rs.18,000 Per Month (if they reside in tier 2 cities).
|CIBIL Score||700 and above||700 and above|
|Loan Amount||Rs.1 Lakh to Rs.40 lakhs||Rs.1 Lakh to Rs.40 lakhs|
|Loan Tenure||1 - 5 years||1 - 5 years|
|Interest Rate||10.75% p.a.||10.75% p.a.|
|Processing Fee||Up to 2.5% (Min Rs.999)||Up to 2.5% (Min Rs.999)|
|Prepayment Charge||After 12 EMIs, 4% of principal outstanding + Service Tax||After 12 EMIs, 4% of principal outstanding + Service Tax|
*Note: Any other conditions specified by the lender with regard to your employment history, etc., will have to be met to borrow a loan from YES BANK.
|Interest Rate||10.75% p.a. onwards|
|Loan Amount||Up to Rs.40 lakh|
|Loan Tenure||12 months to 60 months|
|Processing Fees||Up to 2.5% (Minimum – Rs.999 plus GST)|
No, you will be approved for a personal loan from YES BANK provided that you meet the lender’s eligibility criteria. The reason for which you wish to borrow a loan does not play a role in the approval of your application.
No, the lender charges interest rates that start at 10.75% p.a. The actual interest rate that you will be charged will vary based on your credit score, the loan tenure that you opt for, repayment capacity, etc.
The minimum loan amount that can be borrowed is Rs.1 lakh
YES BANK will update you about the status of your personal loan application within 5 days of receiving your application.
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