Multiple banks. Different interest rates. Call it a "conflict of interest".
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    YES BANK Personal Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    14% Fixed
    Up to 2% One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    What you'll love
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria

    YES BANK Personal Loan is Rated as "Excellent!" by 19 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service



    YES BANK is a private bank in India with headquarters in Mumbai, a balance sheet size of Rs. 1,500 billion, deposits of Rs. 1,250 billion, advances of Rs. 1,000 billion, a pan India network of 900 branches and a human capital base of 12,750 by 2015. YES BANK offer retail loans to product like Home Loan, Personal Loan, Car Loan, Commercial Vehicle Loan. Personal loan in YES BANK can be processed with No guarantor and minimal documentation. Read on to learn about the eligibility and documentation requirements for YES BANK personal loan.

    You’re probably eligible for an YES BANK Personal Loan if you are

    YES BANK Personal Loan Minimum Age

    At least 22 years old

    YES BANK Personal Loan Maximum Age

    Less than 58 years old

    YES BANK Personal Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    YES BANK Personal Loan Minimum Income

    Earn more than the minimum
    income required

    Your YES BANK Personal Loan amount eligibility is based on these factors

    YES BANK Personal Loan Minimum Salary

    Minimum income required
    Rs.25,000 per month

    YES BANK Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Rs. 20 lakhs

    YES BANK Personal Loan EMI

    EMIs of other loans lower
    your eligibility

    Increase your eligible YES BANK Personal Loan amount by these steps

    YES BANK Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills


    Choose longer tenure loan up to 60 Months

    Documentation needed to apply for an YES BANK Personal Loan

    • 1. Signed application form with photograph
    • 2. Copy of passport/voter ID card/driving license
    • 3. Processing fee cheque
    • 4. Last 3 months bank statement/6 months bank passbook
    • 5. Documentation for salaried applicants:
      • Latest salary slip
      • Current dated salary certificate with the latest Form 16
    • 6. Documentation for self-employed applicants:

      • Latest Bank statement
      • Latest ITR or Form 16

    YES BANK Personal Loan Interest RatesUpdated on 24 Oct 2016

    YES BANK Personal Loan Details
    Interest Rate 14%
    Processing Fees Up to 2% of the Loan amount
    Pre payment Charges Preclosure permitted after 12 months. 4% of principal outstanding(plus ST) afterwards
    Tenure 1 year to 5 years
    Guarantor Requirement No guarantor required

    YES BANK Overview

    With over 600 branches across the country, YES BANK is one of India’s fastest growing banks which has always done its utmost to stick to the ethos that the name “Yes” stands for. The bank has always believed in providing customers with a banking experience that is simple, trustworthy and unforgettable and this belief has been rewarded by the many awards they have earned for the services they provide.

    About YES BANK Personal Loan

    YES BANK’s personal loans are designed to give its customers the means to fulfill the various financial obligations that might arise at any time. A Personal Loan from YES BANK could translate into an ability to go on a long overdue vacation, makeover of a house or even pay for a wedding or an educational course that could be very beneficial to a customer's future.

    Why choose YES BANK Personal Loan?

    The bank started operations in 2004 and since that time it has positioned itself as a leading choice for various financial services, including personal loans. Their passion for quality service and the ease with which it can be availed has set it apart as the bank of choice for many. In its pursuit for excellence the bank has also done well in integrating technology into its daily business in such a way that customers can get the information they want in mere minutes.

    As a result of these efforts YES BANK has won itself some very prestigious awards. The long list of accolades includes awards like Asia Pacific Quality Organization (APQO) 2014 (the first Indian bank to win this award), IMC Ramkrishna Bajaj National Quality Award for Business Excellence in the Services Category 2013 (first bank in India to win this award) and the Dun & Bradstreet- Best Private Sector Bank award 2014 to name a few. They also received the ISO 14001:2004 certificate in 2013 which made them the first bank in India to receive this certification.

    Features of YES BANK Personal Loans

    • The loan amount vary between Rs.1 lakh to Rs.20 lakhs.
    • No guarantor or collateral is required to avail the loan.
    • The repayment options are flexible.
    • Documentation only includes 2 passport size photographs, proof of identity, address, age and signature, salary slips for the last 3 months, IT returns for the last 2 years and statement of salary account for the preceding 6 months.
    • The interest rates are very competitive.
    • Applying for the a personal loan hardly take any time.

    Yes Bank offers multipurpose personal loans at extremely competitive interest rates to its borrowers, with this interest computed on the back of two platforms MCLR and Base Rate. While base rates are applicable to borrowers who availed a loan before April 1, 2016, MCLR will be used to compute interest rates for others.

    Yes Bank Marginal Cost of Funds Based Lending Rate (MCLR) (For new borrowers)

    Yes Bank introduced an MCLR benchmark following RBI guidelines, accounting for factors like their operating costs, repo rate, CRR, etc. The table below indicates the rates applicable as of June 2016.

    MCLR Benchmark Tenure (Period) Benchmark Rates (MCLR)
    Overnight 8.90%
    1 month 9.00%
    3 months 9.25%
    6 months 9.30%
    1 year 9.50%

    Personal loan interest rates (MCLR)

    Borrowers who fall under the MCLR category will typically be charged an interest which consists of the MCLR plus an additional spread over this MCLR. The final interest applicable depends on factors like the loan amount, repayment tenure, collateral offered, personal standing with the bank, etc. Interest generally ranges between 12.50% and 16.00% per annum, with Yes Bank having the autonomy to modify it on a case to case basis.

    Yes Bank Base and Prime Lending Rates (For existing borrowers)

    The table below indicates the base and prime lending rates applicable at Yes Bank.

    Base Rate 10.25% per annum, effective October 5, 2015
    Prime Lending Rate 19.75% per annum, effective July 26, 2011

    Yes Bank personal loan interest rate (Base Rate)

    Interest rates for borrowers who availed a loan before MCLR benchmark was introduced is computed after factoring the base rate. The final applicable interest in such cases ranges between 12% per annum and 16% per annum, subject to a number of conditions. Yes Bank can choose to increase or lower the interest at its sole discretion, on a case to case basis.

    Note: All interest rates mentioned here are applicable as of June 20, 2016. Yes Bank reserves the right to modify these rates without prior notice and eligible borrowers should check the same before applying for a loan.

    To be eligible for a YES BANK Personal Loan applicants must between the ages of 25 and 58 years old. He or she must have a minimum net monthly income of Rs.25,000 per month and total work experience of 2 years or more. Work experience with the current employer must be at least 6 months. Applicants must also have stayed at the current place of residence for a minimum of 2 years.

    Calculating the EMI for a personal loan from YES BANK is very simple with BankBazaar’s EMI calculator. All a user has to do is to feed in the necessary information and they will be able to calculate the EMI for various loan amounts and tenures. The EMI calculator will help them decide which is the best EMI and tenure combination for them. The steps to use the EMI calculator are mentioned below:

    • On the homepage there is a link for Finance Tools. Place the mouse over it and wait for the options to load.
    • From the options present, select the Personal Loan EMI Calculator and click on it.
    • Use the first slider to select the amount of the loan
    • Use the second slider to select the duration of the loan
    • In the box marked “Interest Rate in %” enter the interest rate. There is no need to add the % symbol.
    • In the field marked “Processing Fee” enter the percentage of the loan amount that will be charged as processing fee. Example 3% (without the % symbol)
    • Confirm that all the information is accurate and hit the calculate button.
    • Scroll down a little to see the results of the EMI calculator.
    • To make any changes to the details provided, simply scroll up and make the appropriate changes.
    1. How do I check my loan status?

      Customers can check the status of their loan applications at any time by getting in touch with the banks.

    2. Where can I find the YES BANK personal loan application form?

      To apply for a personal loan with YES BANK, customers need to go to the bank’s website. Once there, go to the Branch Banking option. Under that there is an option for Retail Banking - Loans and under this option there is the option for selecting personal loans. Once on the ‘personal loans’ page, users can click on the online application form provided on the right hand side of the page.

    3. Can I check my YES BANK personal loan statement online?

      Customers can get in touch with the bank to get the latest statement of accounts, however, issuing these statements will attract charges of Rs. 750 per statement.

    4. What are the pre-closure charges and the pre-closure process?

      Pre-closure of Personal Loans from YES BANK is not permitted until the first 6 EMI’s are paid. Once the first 6 EMIs are paid, charges levied are 4% on the POS (Principal Outstanding) until the complete payment of 12 EMIs. After the 12 EMI’s are paid, future prepayments attract no extra charges. One thing to note is that part payment of the loan is not possible.

      To initiate the pre-closure process, customers will have to intimate the bank of their intention via letters or emails. Once the request is received, the bank will request you to make the pending payments, following the completion of which, the bank will give the customer all relevant documents like the No Objections Certificate or the No Due Certificates and any post dated cheques (if applicable).

    5. How can I receive my Repayment Schedule?

      Customers can request the bank for repayment schedules at any instant, however, every copy of the repayment schedule that is sent to the customer will be charged at Rs. 750.

    6. When is the NOC dispatched?

      The NOC will be dispatched once the bank has confirmed that all charges related to the repayment of the loan have been paid by the customer. To get the NOC, the customer will have to pay an amount of Rs.750 to the bank. In case the customer wants a duplicate copy of the NOC, they can get in touch with the bank to request for one. They will have to pay a sum of Rs. 250 for each copy.

    7. How do I postpone/reschedule my EMI payments?

      To reschedule or postpone EMI payments the customer will need to intimate the bank of the desired change. Any such change may attract payments to be made to the bank which will be decided at the time of rescheduling.

    8. Do I have to pay extra charges to change the installment payment date?

      Yes, to reschedule the repayment of the loan the bank may charge the customer an amount that will be decided at the time of rescheduling the loan.

    9. How do I change my mode of installment payment from PDC to ECS?

      To enquire about the possibility of changing the method of repaying the personal loan, the customer will have to get in touch with the bank and request them for a change of payment method from PDC to ECS.

    10. Will there be a penalty to be paid if the EMI is paid late?

      Yes, if the EMI payment is delayed then a penalty of 24% per annum on the outstanding amount may be charged and calculated from the date of default.

    11. Does Yes Bank offer multiple personal loan products?

      No, Yes Bank offers just one personal loan product to customers.

    12. Can one apply for a Yes Bank personal loan online?

      Yes, individuals who are keen on availing a personal loan from Yes Bank can apply through the official website of the bank. A borrower would have to provide his/her basic information like name, PAN details, date of birth, address, etc. in order to completely fill this application. Individuals who are keen on applying physically can download the application from this website, fill it and submit it to their nearest Yes Bank branch.

    13. How much loan can one avail through a Yes Bank personal loan?

      Individuals can avail loans ranging from Rs 2 lakh to Rs 20 lakh, depending on their requirement. The quantum which an individual gets is at the sole discretion of Yes Bank and this amount could vary from applicant to applicant.

    14. Is it mandatory to have a guarantor/collateral in order avail a Yes Bank personal loan?

      No, there is no need to have a guarantor or collateral in order to avail this personal loan.

    15. How can a borrower repay the loan amount?

      A borrower can repay the loan through regular, flexible EMIs.

    16. Is pre-payment of a personal loan permitted by Yes Bank?

      Yes, prepayment of a personal loan is permitted, subject to certain conditions. Prepayment of a loan is not allowed until the first 6 EMIs are paid, post which one can choose to prepay the amount, albeit at certain additional charges.

    17. What are the prepayment charges imposed by Yes Bank?

      Yes Bank charges a fee equivalent to 4% of the outstanding principal in cases of repayments up to a maximum of 12 EMIs. If a borrower has paid more than 12 EMIs, there are no prepayment charges imposed by the bank.

    18. Is part payment of a personal loan permitted?

      No, there is no part payment allowed.

    19. Will an applicant be required to provide proof of income while applying for a loan?

      Yes, an applicant might be asked by the bank to furnish income details while applying for a personal loan.

    20. Does Yes Bank levy any loan cancellation charges?

      Yes, the bank can levy loan cancellation charges up to Rs 1,000, which should be borne by a borrower.

    News About YES BANK Personal Loan

    • Yes Bank would now be featuring its retail products on

      Yes Bank has signed an agreement with BankBazaar to feature its personal loan products on the financial website. This tie-up would help Yes Bank reach out to online customers looking for personal loans and will help the lender expand its client base. Customers would be able to easily apply for Yes Bank personal loans on the BankBazaar website, following this tie-up. Yes Bank’s products will be added onto the BankBazaar website within two weeks and will mostly go live by the end of this month.

      20th May 2016


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