YES BANK personal loan – apply online for 2023

admin January 19, 2023 in Bank, Loan - 14 Minutes

Are you looking for a personal loan that comes with an attractive interest rate? Maybe a YES BANK personal loan is the right option for you! This loan facility comes with many attractive features such as lower interest rates and flexible repayment options. All this helps people to meet their personal needs effectively. Learn more about personal loan information below:

About YES BANK personal loan

Known as one of the largest private sector banks in India, YES BANK caters to the needs of all with its exclusive range of products and services. The famous bank caters to the needs of many by offering the best personal loan deals.

Yes, with the fast, convenient and reliable personal loan, you can meet all your personal requirements immediately. Also, whenever you need extra funds and are looking for an easy solution, YES BANK is perfect for you!

YES BANK personal loan interest rates January 2023

more details	more details
Interest rates	10,75% – 18,00%
Loan amount	INR 1000-40000
Refund	60 months
Processing fee	1% of the loan amount + GST
Charges for disposal	NIL
Prepayment fee	2% of the payment amount of the paid part
Minimum monthly income	15 000 INR
Applicant’s age	Minimum – 22 years Maximum – 60 years/Retirement age

Note . The processing fee and partial prepayment fee will also include applicable taxes

Criteria for obtaining the lowest YES BANK personal loan interest rate

Here, in the table below, you will be able to see the required Minimum Net Take Home (NTH) with applicable interest rates and processing charges as per your profile.

Corporate category	Net Algae (INR)	Rack IRR	Rack PF
Diamond Plus/Diamond/Gold Plus/Silver Plus/Salary Doctors	125 000+	10,99%	1,25%
	75000-124999	11,99%	1,25%
	35000-74999	13,75%	2,00%
	20000-34999	14,75%	2,25%
	15 000–19999	15,25%	2,50%
Sarkaar/Guru/Vijay	125 000+	11,49%	1,25%
	75000-124999	12,25%	1,25%
	35000-74999	13,75%	2,00%
	20000-34999	14,99%	2,25%
	15 000–19999	15,99%	2,50%
Silver	125 000+	11,99%	1,25%
	75000-124999	12,49%	1,25%
	35000-74999	13,99%	2,25%
	20000-34999	15,25%	2,50%
Platinum/YBL employees	EVERYONE	12,49%	INR 1499/-
Care profile as defined in the policy	EVERYONE	15,25%	2,50%

Note. GST is to be charged in addition to the mentioned processing charges.

Balance transfer rate January 2023

YES 2nd exchange lucky offer

Product offer-BT cases	Customer profile	Loan amount (in lacs)	IRR	PF
Yes shift 2 Happiness PLUS offer (selective financiers only*)	Diamond PLUS/Diamond/SARKAAR/GURU/Staff Corporate Client and Credit Transfer (from selected financiers only*).	>=20.00	10,70%	INR 7999/-
		>=10.00 – 20.00	10,75%	Rs 9999/-
		>=5.00 – 10.00	10,99%	1,00%
		Up to 4.99	11,49%	1,15%
Yes Shift 2 Lucky Offer (for all other funders)	Diamond PLUS/Diamond/SARKAAR/GURU/Staff corporate customer and credit transfer from non-selective financiers.	EVERYONE	2% lower than the current rate (YES BANK applicable rate must not be lower than 10.99%)	1,15%
	Gold PLUS/Gold/Silver/SARKAAR/GURU and all other corporate category/scheme customers and credit transfer from both selective and non-selective financiers.	>=10	For taking over multiple loans, the minimum rate of the entire loan is considered the existing rate	1,15%
		Up to 9.99		1,15%

YES BANKS Special category offer

Special category/segment	Type of things	Minimum net take-home pay (NTH)	IRR (%)	PF (Processing Fees)
Yes Bank Officers (YBL)/ Yes Securities Officers (YSL)	Fresh and balance transfer	>= NTH 30,000/month	10,70%	INR 1499/-
OTHER bank employees	Balance transfer	Everyone	10,75%	1,15%
PERSONAL LOAN RETURN YBL’s liability and asset ratio for customers	Balance transfer	EVERYONE	10,75%	1,15%
DOCTORS hired	Fresh and balance transfer	EVERYONE	10,75%	1,15%
PHARMA companies	Fresh and balance transfer	EVERYONE	10,75%	1,15%

Personal Loan Ultra Edge and Golden Edge offer

Product offer	Customer profile	Loan amount (in lacs)	IRR (%)	PF	Foreclosure Offer (FC)
YES ULTRA EDGE	Diamond PLUS/ Diamond/ SARKAAR/ GURU/YES Private/ Platinum (Staff) customers with monthly net salary >= 75,000/- FOIR<=55%	>= Rs. 7.50	10,70%	INR 4999/-	NIL FC after 12 months [Subject to closure from own funds only] (Appendix to be attached and notebook to be updated as per process)
YES GOLD EDGE	Diamond PLUS/Diamond – Customers whose monthly net salary >=75,000/- (customers not eligible for Ultra Edge segment)	>=20 thousand	10,75%	0,99%
		15 000 000 —19,99 000 000	10,95%	0,99%
		10 000–14,99 000 000	10,99%	0,99%
	Zelts PLUS/Zelts – customers whose monthly net salary >=75,000/-	>=20 thousand	10,99%	0,99%	THAT
		15 000–19,99 000 000	11,49%	0,99%
		10 000–14,99 000 000	11,75%	0,99%
	Silver – customers whose monthly net salary >=50,000/-	>=20 lakh	11,25%	0,99%
		15 000–19,99 000 000	11,49%	0,99%
		10 000–14,99 000 000	11,99%	0,99%
		5 000 000 — 9,99 000 000	12,25%	1,25%

Detailed information on maximum personal loan amounts

YES BANK has several personal loan options – Platinum, Personal Plus, Diamond and Diamond plus, Gold, Gold Plus and Silver, Sarkaar, Guru and Vijay. See the table below for the maximum loan offered for each option.

Personal loan options	Maximum loan amount
Platinum	INR 15 000 000
Personal advantage	INR 20 000 000
Diamond Plus, diamond	INR 15 000 000
Gold, Gold Plus un Silver Plus	INR 10 000 000
Sarkaar, Guru un Vijay	INR 12 000 000

FOIR used by YES BANK to assess a person’s loan eligibility

YES BANK uses different Fixed Income Ratio (FOIR) for people with different income. Simply put, it is the percentage up to which EMI is allowed on your income. While determining the personal loan EMI, the existing liabilities, if any, and the proposed liabilities will be deducted from the net monthly income to assess your eligibility. Check the FOIR used by YES BANK for different income and different personal loan options.

Category	Monthly income (>35,000)	Monthly income (<=35,000)	Office -1/<680 (ETB/<700(NTB)) regardless of income
Platinum	75%	65%	50%
Diamond Plus/Diamond	75%	65%	50%
Yes Sarkar/Yes Guru/Yes Vijay	75%	65%	50%
Gold Plus/Gold/Silver Plus	70%	60%	50%
Silver	65%	55%	50%

For instance:

Your monthly income is – INR 40,000/- Applicable FOIR will be 65% (if silver category)

Your FOIR income will be 26000 (40000*65%)

The liability will then be deducted from the FOIR income, for example your liability is INR 3000

Your net income will be considered as INR 23000 (26000-3000) based on which your eligibility will be calculated.

Based on your net income, you will be entitled to a loan amount of approximately 7.6 Ls.

Multipliers (no relation to maturity period)

Category	Income
	<=20 thousand	>20k-<=35k	>35k-<=75k	>75k-<=1,25Lac	>1,25Lac
Platinum	15	20	22	26	30
Diamond Plus/Diamond	15	20	22	26	30
Yes Sarkar/Yes Guru/Yes Vijay	15	20	22	26	30
Gold Plus/Gold/Silver Plus	15	20	21	22	24
Silver	12	17	19	20	22

For instance

Your monthly income is 40000 INR and liability is 3000

Net Income = INR 37000 (40000-3000)

Now the multiplier will be calculated based on your income after deduction of liabilities which is INR 37000

Based on the same, your multiplier will be 22 (if platinum category)

Eligibility for Loan Amount – INR 814000 (37000*22)

Eligibility criteria for YES BANK personal loan

To avail a YES BANK personal loan, you must meet the following eligibility criteria.

Any salaried employee working in a private or joint-stock company (at least 5 years in MCA Vintage) can apply for a personal loan.
The applicant must be between 22 and 60 years old
Minimum net monthly salary should be INR 15,000/INR 30,000/INR 35,000 (based on customer location and profile)
Other monthly expenses including any current EMI:- 55% to 75% (FOIR)
Total work experience of at least 2 years with at least 6 months in the current organization

YES BANKS Required documents for a loan for a private individual

Identity Document: Passport/Driving License/Aadhaar/Voter ID.
Address Proof: Aadhaar Card/Gas Bill/Insurance Receipts/Business Allotment Letter/Bank Statement/Valid Rent Agreement with e-Bill/Address Proof in the name of family member (father, mother, son, daughter, sister).
Proof of income: – 3 months bank statement reflecting salary credits and latest 2 months salary statement. If the last month’s salary slip is not available, then the same is acceptable if the salary credit is reflected in the bank statement
Proof of ownership of residence – if income is less than 50,000 and stability of residence is < 6 months (ownership can be proven in the name of self/spouse/parents/father-in-law/mother-in-law)

Other important parameters to keep in mind

CIBIL Requests of INR 1-10 will not be considered as requests
CPV exemption under existing guidelines
Required CIBIL score >=680/-1 if existing YBL customers or >=700/-1 if new YBL customer
Disbursement to a non-salary account is allowed if salary credits cannot be registered in the Payment Bank/ECS/NACH
First EMI from non-salary account can be accepted if NACH/ECS is obtained from salary account for future installments
All salaried physicians must be rated according to the diamond category, regardless of hospital category.

YES BANK’s personal loan calculator

Find out exact EMI calculations with EMI Calculator. Yes, this smart, time-saving and efficient tool allows you to know the exact amount of monthly payments to be paid to the lender every month. To understand the same better, let us see the example given below.

Let’s say Ragini Gupta is looking for a personal loan of INR 2,000 for a term of 5 years. YES THE BANK is ready to offer her the same loan amount with an interest rate of 14% p.a., what would be the EMI, outgoing interest and total payable for the same? We will clarify this in the table below.

Table showing EMI, outgoing interest and total repayment amount

LOAN AMOUNT	INTEREST RATE	DUE DATE	MONTHLY INSTALLMENT	TOTAL INTEREST AMOUNT	SUM
2 00 000 ₹	14%	1	17,957 Indian Rupees	15 489 ₹	2,15,489 Indian Rupees
2 00 000 ₹	14%	2	9603 Indian Rupees	30,462 Indian Rupees	2,30,462 Indian Rupees
2 00 000 ₹	14%	3	6836 Indian Rupees	46,079 Indian Rupees	2 46 079 ₹
2 00 000 ₹	14%	4	5465 Indian Rupees	62,334 Indian Rupees	2,62,334 Indian Rupees
2 00 000 ₹	14%	5	4654 Indian Rupees	79,219 Indian Rupees	2,79,219 Indian Rupees

EMI, Total Outgoing Interest Amount, Total Repayment (Interest + Principal)

YEAR	DIRECTOR	INTEREST	BALANCE AMOUNT
1	29,701 Indian Rupees	26,142 Indian Rupees	1,70,298 Indian Rupees
2	34,137 Indian Rupees	21,706 Indian Rupees	1,36,160 Indian Rupees
3	39,235 Indian Rupees	16,608 Indian Rupees	96,925 Indian Rupees
4	45,095 Indian Rupees	10,749 Indian Rupees	51,829 Indian Rupees
5	51,883 Indian Rupees	4014 Indian Rupees	0 ₹

YES BANKS Personal Loan Application Status Check Online

Checking your YES BANK status online is very easy. Open the website and login with your credentials and soon after enter your loan application number. The moment you enter the number online and click the Track My Status button, the status will flash on the screen. This online facility helps you to check your status anytime. Whether it is approved, pending or rejected, you can know every detail without any hassle.

YES BANKS Personal Loan Prepayment Fees

Are you someone looking to pre-close your personal loan? If yes, then you need to know the applicable charges for it. YES BANK collects up to 4% of the outstanding principal with applicable GST charges at the time of loan closing. With this prepayment option, you can actually pay off the loan before the original due date, saving you from excessive interest payments.

YES BANKS Personal loan customer service number

If you have any questions, complaints or want to give any kind of suggestions or feedback, you can contact the bank’s customer service managers at any time. All you need to do is simply dial 1800 103 1212 from your mobile or landline. These specialists are always ready to help you and provide you with the best services.

Features of YES BANK Personal Loan

No Collateral Required – When applying for a YES BANK Personal Loan, you do not need to provide any kind of collateral or security against the loan amount received. Since no collateral is required, you can quickly access the loan in your account.
Repayment flexibility – repayment is an important part of YES BANK personal loan. YES BANK offers flexible repayment terms from 12 months to a maximum of 60 months. You can choose the operating time according to your repayment options and monthly income. Repayment can be made in simple monthly installments. The applicant can also get an advance estimate of the EMI amount using the YES BANK Personal Loan EMI Calculator . This will help you manage your finances in an organized manner.
Balance Transfer Option – Are you already paying your personal loan but at a rate higher than YES BANK charges? You can easily avail YES BANK balance transfer facility with lower interest rates. This reduces the monthly EMI while also reducing the interest liability over time. The balance transfer process is simple, all you need to do is submit a balance transfer request to YES BANK, who will then ask you for a No Objection Certificate (NOC) along with a loan statement from your existing lender. YES THE BANK will check the refund path and approve the transaction if it is smooth.
Installment Option – If at any time during your tenure you wish to partially pay off the outstanding principal, you can do so through installments. This will help reduce the interest burden from your pocket. The remaining amount will be payable as per the fixed schedule. A fee of 2% of the installment payment amount will be applied.

Prepayment Clause

Part Loan Repayment is allowed after repayment of 12 EMIs

20% Principle Executed for 13-24 months
20% Principle Executed for 25-36 months
25% Principle Paid for 37-48 months
25% Principle Fulfilled for 49-60 months

Prepayment Terms

A partial payment can only be made once a year

The amount received as partial payment will be adjusted according to the outstanding principle
Number of EMIs will be reduced EMI amount will remain the same for the remaining tenure.

Collateral/Prepayment Option – With the YES BANK personal loan option, you can also foreclose or make full payment of the outstanding principal after one year of the loan. This means you can opt for this option anytime after successfully paying the first 12 EMIs. A fee will apply if you prepay before 48 months. Redemption or prepayment fees range from zero to 4% of the outstanding principal amount.
Fast Disbursement of Loan Funds – Once your YES BANK personal loan is processed and sanctioned, your funds will be disbursed within hours, ensuring that they are immediately available for any emergencies like medical payments.
Lucrative Interest Rate – YES BANK offers one of the best interest rates in the industry starting at just 10.75%.
Easy online personal loan application – You can easily apply for a personal loan through YES BANK’s online service, which is fast, easy to understand and requires only basic documentation.

Yes, the Bank’s personal loan FAQ

1. How to get a personal loan from Yes Bank?

You can apply for a Yes Bank personal loan through the bank’s website, by logging into your net banking account or by downloading the bank application.

2. How long does it take for Yes Bank to approve a personal loan?

The bank will make a decision on the approval of your application within five days after receiving all the necessary documents. This is provided if the documentation is properly filled as per YES BANK policy.

3. How long does it take to get a personal loan from Yes Bank?

After all the necessary documentation, YES Bank claims that it can approve the loan within the next 5 days and issue the loan within a few hours.

4. What is the minimum personal loan amount at Yes Bank?

Customers can avail loans between Rs 1,00,000 to Rs 40,00,000.

5. Can I take 2 personal loans from Yes Bank?

Yes, you can use two loans from YES Bank. It just depends on your repayment capacity and your CIBIL score. Banks will assess your debt to income ratio and analyze accordingly to give you another personal loan or not.

6. What documents are required to apply for a Yes personal loan?

You need the following documents to avail a YES bank personal loan.
– Duly filled and signed application form
– Income proofs – Salary checks or bank statements for last three months
– Address proofs – Aadhaar card. Proof of permanent address must be at least one year old.
– Identity documents – passport or driver’s license

7. Who is eligible to take a Yes Bank personal loan?

Applicants can check their personal loan eligibility under YES Bank in just 60 seconds. After applying on the bank’s official website, you only need to enter some basic information like your age, monthly income, all current EMIs, employer, work history and your current period of residence.

8. What documents are required for a Yes Bank personal loan?

You need the following documents to avail a YES bank personal loan.
– Income certificates – Paychecks or bank statements for the last three months.
– Address proofs – Aadhaar card. Proof of permanent address must be at least one year old.
– Identity documents – passport or driver’s license.
– Duly filled and signed application form

9. How to check your personal loan status in Yes Bank?

You can contact the customer service department of YES Bank on the toll-free number 1800 1200 and the managers will help you to determine the status of your loan application. You can also send a text message. Text ‘HELP’ and your customer ID to 92233 90909.

10. Who can be your co-borrower in a Yes Bank personal loan application?

You can add your parents, spouse or earning children as a co-borrower in the Yes Bank personal loan application.

11. What is the minimum CIBIL score required for Yes Bank Personal Loan in India?

Minimum CIBIL score required for YES Bank Personal Loan in India is 750.

12. How to close a Yes Bank personal loan?

You can go to the nearest Yes Bank branch with the necessary documents and request to close your YES bank personal loan. You may need to fill out a pre-closing form or submit an application to the bank requesting that your loan be closed. Pay the pre-foreclosure amount plus any penalty fees.

13. How to foreclose on a Yes personal loan?

To dispose of your personal loan, call the Yes Bank branch where you received your personal loan. Check your loan balance, pay the required amount and sign the final settlement documents, if applicable.

14. How to pay the Yes Bank personal loan?

You can pay your YES bank personal loan as EMI through UPI, Net Banking, Auto Debit, ECS, Cheque, Cash or Demand Draft.

15. How to check personal loan balance in Yes Bank?

To check your personal loan balance, you need to login to your internet banking portal. After logging in, you can go to the credit section of your YES bank internet banking page. You can check your application status and personal loan balance using this option.

To know more:- https://www.yesbank.in/