YES Bank offers a personal loan of up to Rs.40 lakh. The minimum interest rate for salaried as well as self-employed applicants start from 10.75% p.a.. The minimum loan tenure is 12 months and the maximum loan tenure is 60 months.
Rs.4,654 p.m. (Calculated for the minimum loan amount for the longest tenure allowed at the lowest interest rate available)
Rs.4,654 p.m. (Calculated for the minimum loan amount for the longest tenure allowed at the lowest interest rate available)
Processing Fee
NA
NA
Age
Not specified
Not specified
Prepayment Charges
No charges. But prepayment allowed only after 12 months.
Part prepayments allowed:
20% for 12 – 24 months
20% for 24 – 36 months
25% for 36 – 48 months
25% for 48 – 60 months
No charges. But prepayment allowed only after 12 months.
Part prepayments allowed:
20% for 12 – 24 months
20% for 24 – 36 months
25% for 36 – 48 months
25% for 48 – 60 months
Foreclosure Charges
Foreclosure is allowed only post repayment of 12 EMI’s
Within 12 to 24 months: 4%
Within 24 to 36 Months: 3%
Within 36 to 48 Months: 2%
After 48 Months: No charge
Foreclosure is allowed only post repayment of 12 EMI’s
Within 12 to 24 months: 4%
Within 24 to 36 Months: 3%
Within 36 to 48 Months: 2%
After 48 Months: No charge
YES BANK offers personal loans designed to enhance the quality of life of a borrower. This loan can be used to fulfil any personal need, be it a wedding, medical expenses or travel and is available at extremely competitive interest rates. YES BANK personal loans are easy to avail and are minus the hassle free process associated with personal loan applications, ensuring it is extremely customer friendly.
YES BANK Personal Loan Interest Rates
Interest rates charged by YES BANK depend on factors like the borrower’s repayment capacity and purpose for funds and are some of the most competitive rates in India. The Base Rate at YES BANK is 10.50% per annum (effective 22/06/2015). Interest rates for the year 2015 are dependent on the current base rate and range between 14% per annum to 16% per annum, based on different parameters. YES BANK offers the option of repaying a personal loan through flexible EMIs, ensuring that repayment doesn’t become an additional financial burden.
How to calculate EMI on your YES BANK Personal Loan
EMI calculations form an extremely crucial aspect of every loan application process as they help an individual determine the amount he/she would need to repay every month in order to clear a loan, enabling a borrower to plan his/her resources accordingly. Calculating EMIs on your YES BANK personal loan are no longer a tedious task, thanks to Bankbazaar. One could log on to the Bankbazaar website and enter details about their personal loan (tenure, amount, interest rate) in the EMI calculator which then processes the information and displays the EMIs in a simple and easy to understand format.
An amortization table is a handy tool which provides a systematic breakdown of the entire loan repayment timeline. It indicates the variation between the Principal and Interest components for a particular loan, providing information which can make the repayment planning simple. Post each EMI payment the principal amount reduces and it is this reduced principal which is used to calculate interest for the next term. This calculation continues till the entire loan amount is cleared.
Example: Mr. Vivek avails a personal loan of Rs 1 lakh from YES BANK at an annual interest of 14% and a tenure of 5 years. His EMI comes up to Rs 2,327 per month. Mr. Vivek decides to consult the amortization table shown below in order to clear his loan and plan his repayment accordingly.
Factors affecting YES BANK Personal Loan Interest Rates
The interest rate an individual pays for a YES BANK personal loan depend on multiple factors, some of which are mentioned below.
Loan tenure – The tenure of a personal loan can have an impact on the interest rates charged by a bank and it is possible for loans with longer tenures to attract a lower interest rate compared to loans with shorter tenures.
Repayment capacity –The repayment capacity of an individual is a crucial factor when it comes to determining interest rates. It is possible for YES BANK to charge rates which do not overburden a borrower in terms of his/her repayment capacity.
Relationship with YES BANK– Individuals having a good relationship with YES BANK could be in a position to lower their interest rates, on the basis of their past behaviour and personal standing. It is possible for banks to lower interest rates for esteemed customers who have displayed commitment to their payments in the past.
Employment details – Interest rates can vary according to the profession of a borrower. It is possible for salaried borrowers to get a lower interest rate compared to self-employed borrowers, thanks to them having a steady source of income. Borrowers with an unstable job history might not always have a steady income source and could end up paying a higher interest rate as the bank could view them as risky prospects.
Age – It is possible for banks to vary their interest rates depending on the age of a borrower as senior citizens (>60 years) might be charged a lower interest compared to youngsters (<30 years).
Note: Interest rates charged by YES BANK are at their sole discretion and subject to change.
How CIBIL score affects YES BANK Personal Loan Interest Rates
The CIBIL score of a borrower can have an impact on the interest rate he/she pays for a YES BANK personal loan. YES BANK relies on the CIBIL score of an applicant to gauge his/her repayment capacity and credit history and it is possible for a borrower with a good CIBIL score to negotiate interest rates charged by YES BANK, on account of this score. Borrowers with a poor CIBIL score could end up paying a higher interest rate as they might not come across as credit worthy and it is possible for banks to charge higher interest rates in such cases.
Key things about YES BANK Personal Loan Interest Rates
The interest rates charged by YES BANK could change if there are any changes in its Base Rate.
Interest rates charged by YES BANK do not depend on collateral and there is no need to provide a guarantor/surety in order to obtain this loan.
Any changes in repo rates could have an impact on interest rates charged by YES BANK.
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.
I have directly applied with yesbank for Personal Loan.The agent clearly explained the process.The rate of interest was good ,procesing fee was nominal .I got loan amount on time .I have applied for the loan amount of 7 lakhs for the tenure of 5 years .I have not yet faced any issues on submitting documents as well .The Overall service is good .
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NARENDRA SINGH TANK
, udaipur
Reviewed on Mar 18, 2019
Recently I availed Top up loan from YES bank, they quoted the interest around 16.99% but I was expected around 11%, but due to my needs I took the loan. It was my first loan experience, at the time my credit score was less, now due to this loan now I am maintain better score.
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0
MAHAMMAD RIJUAN
, bangalore
Reviewed on Mar 11, 2019
The rate of interest was 10.49%. Recently took a personal loan with YES BANK through online. The loan process was very faster and simple. They have charged me a processing fee and its high when compared with Government banks. The loan duration is 5 years.
I had been holding my personal loan with Yes bank previously, now i have closed this loan,the loan amount which they have given me was good, and the rate of interest they have charged me was high,and even the processing fee which they have charged me was high,now i have closed this loan successfully.
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DHINESH KUMAR KUMAR
, chennai
Reviewed on Mar 07, 2019
I have taken the personal loan with the YES BANK and i am satisfied with the loan amount what they have offered with this bank but there is no online tracking for knowing the EMI pending, regarding the loan. apart from that they have given the loan within one day with nominal rate of interest.
When I applied for YES Bank personal loan, the process was good on the initial stage. They kept calling each and every day for documents, after submitting all. I didn't get the response . post process should be improved. Overall banking system need to improve the response post rejection.
My experience in getting this loan has been quite good and the loan amount which they had provided has been sufficient as well. The interest rate with them has been quite good when compared with the market rate. There was some charges which they had made as processing fee and their staffs had also been responsive as well.
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2
SANTHYSRI PAMPANA
, hyderabad
Reviewed on Jan 22, 2019
I took my personal loan in YES BANK by last year May or June. The interest rate is okay and services are excellent. The loan duration is 60 months and every month installment is 5726 rupees through ECS. I can do pre closure after one year and there was no charges.
I have taken a personal loan with YES Bank. The process was good and the documentation was taken on time. The rate of interest and processing charges is on the higher side. They need to improve on that. Else the whole process is fine and there are no hassles.
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SESHADRI GURRAPU
, bangalore
Reviewed on Jan 12, 2019
The experience with this Personal loan has been quite good and the loan amount which they had provided has been sufficient as well. The interest rate with them has been around 15% and there has not been any sort of charges with them as well. The customer support of them has also been helpful and has responsive as well.
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2
KARIKERE CHANDRASEKHAR
, bangalore
Reviewed on Jan 11, 2019
I have been using personal loan from Yes bank recently,in initial time i face some issue but now it okay, the loan amount they have given me was sufficient, and the rate of interest and processing fee they have charged me is high compare to other bank, there is many rules and regulation , in that too i felt there was some issue, the overall service rendered by the bank is really good.
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2
SP PURSHOTAMAN PURSHOTAMAN
, bangalore
Reviewed on Jan 02, 2019
I have been holding my personal loan with Yes bank, there service was good, the loan amount they have charged me was sufficient, and the rate of interest they have charged me was up to 10.75% it is lower compare to other bank and the processing fee they have charged me was nominal,and there was no hidden charges,and i took loan for five years of tenure period.
I have also taken a personal loan with YES Bank. The process was good and as expected I got the loan amount too as needed. They also had a good deal on the interest rate and processing charges. The documentation was also taken on time. In all good.
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1
ASIF ARIF SHAIKH
, mumbai
Reviewed on Dec 16, 2018
I have been holding my personal loan with YES BANK, the loan amount they have given me was sufficient , the rate of interest they have charged me was up to 11.39% , it is nominal and the processing fee is also nominal, this bank is far better than other bank comparison, there is no delay in getting my loan amount.
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1
AAYUSH RAMESHSINH SOLANKI
, ahmedabad
Reviewed on Dec 11, 2018
I took the loan where I salary getting credited, from Yes bank I have taken personal loan before two years, they don't have any customer support after the post process initially they were coordinated. I am happy with the interest part on my personal loan.
The experience i had with this loan has been good, where the loan amount which they had provided has been sufficient. The interest rate with them has been nominal when compared with the market rate. There has not been any sort of additional charges which they had made and there has not been any hassle faced with them so far.
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RAJENDRAN BALAMURUGAN
, chennai
Reviewed on Dec 07, 2018
I have got my personal loan from yes bank 2 years back. Within 3 days i have got my loan. After the documentation and verification i have received the loan in 5 days. They have offered me a interest rate of 11% and thats the lowest interest rate they can offer for personal loan. I'm not sure about processing fee. I have been paying the EMI of Rs. 11000 approximately. I have chosen the tenure period of 5 years.
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1
NARAYANARAO NITHINKUMAR
, bangalore
Reviewed on Dec 07, 2018
I have been holding my personal loan with Yes bank,they have given me low loan amount, and even they have taken loan insurance charges as well and the rate of interest they have charged me up to 11.5% it was nominal and there processing fee was bit high they have charged.
I have been holding my personal loan with Yes bank,they have given me low loan amount, and even they have taken loan insurance charges as well and the rate of interest they have charged me up to 11.5% it was nominal and there processing fee was bit high they have charged.
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3
RAJU KUMAR GUPTA
, mumbai
Reviewed on Nov 16, 2018
My personal loan was taken with YES BANK. I have a good experience where the documentation process is very good. I am satisfied with the loan amount . The rate of interest is very lower, duration is for 5 years to repay the loan also the processing fee is there.
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3
VIGNESHWARAN VENKATESAN
, mumbai
Reviewed on Nov 14, 2018
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