YES Bank offers competitive personal loan interest rates @10.99% to 20% per annum and loan amounts up to 40 Lakhs, which makes it a preferred choice for individuals seeking financial assistance. Their low-interest personal loans provide borrowers with manageable and cost-effective repayment options, easing the financial burden.

YES BANK Personal Loan Interest Rate Details 2024

YES Bank promises to process loan applications within 5 days of submission and aims to disburse the loan amount within a few hours of sanctioning. Below is the table showing the rate of interest, tenure, and loan amount on YES BANK personal loan. You may note that the processing fee would also attract 18% GST and can easily check your eligibility and apply for a personal loan online as well as offline. 

Advantages of YES Bank Personal Loan

These are the advantages of the YES Bank personal loan which you can get while availing for the personal loan - 

• No Collateral Required - With YES Bank’s personal loans, you don’t need to provide any collateral or security to obtain the loan. This makes the application process simpler and more accessible for borrowers who may not have assets to pledge.

• Minimum Documentation - YES Bank streamlines the application process by requiring minimal documentation. This reduces the time and effort needed to apply for a loan and speeds up the approval process.

• Customer Service - YES Bank is known for its strong customer service. With dedicated support and guidance throughout the loan process, borrowers can expect assistance with any questions or concerns, making the experience more user-friendly.

• Discounts - YES Bank often offers various discounts on personal loan interest rates or processing fees. These discounts can significantly reduce the overall cost of the loan, making it more affordable.

• Pre-Closing Costs- YES Bank may offer favorable terms regarding pre-closing or early repayment of the loan. This means borrowers can pay off their loans early without incurring high pre-closure charges, allowing for greater flexibility in managing their finances.

Factors Affecting YES Bank Personal Loan Interest Rate

The following list of elements explains how interest rates on personal loans from YES Bank are affected:- 

• Loan Tenure - Loan tenure can affect the interest rates charged by a bank. Generally, personal loans with longer tenures may attract lower interest rates compared to those with shorter tenures.

• Repayment Capacity - Repayment capacity is a key factor in determining interest rates. Typically, individuals with a higher repayment capacity are offered lower interest rates.

• Age - YES Bank may adjust interest rates based on the borrower’s age. Typically, senior citizens (over 60 years) might receive lower interest rates compared to younger borrowers (under 30 years).

• Employment Details - Interest rates can vary based on the borrower’s employment details. Generally, salaried individuals may receive lower interest rates compared to self-employed borrowers due to their stable income. Those with an unstable job history might face higher interest rates as banks may view them as higher risk.
   
• Relation with the Bank - Individuals with a strong relationship with YES BANK may be able to secure lower interest rates based on their past behavior and personal standing. Banks may offer reduced rates to valued customers who have demonstrated a commitment to timely payments and responsible financial management.

Calculating EMIs on YES Bank Personal Loans at Different Interest Rates

An interest calculator is another name given to a personal loan EMI calculator. This is an online tool available 24X7 without any additional cost involved. You can use it as many times as you want until and unless you are satisfied with the combination of the rate and tenure. You can use Wishfin’s YES Bank Personal Loan EMI Calculator to quickly and easily determine your EMIs for a personal loan from the YES Bank. 

You can simply put the following details - 

• Loan Amount

• Tenure

• Interest Rate

The equal monthly payments (EMIs) for a ₹3,00,000 personal loan with interest rates ranging from 10.99% to 20% per annum for terms of one to five years are shown in the table below. To better meet your needs, you can modify the loan amount and other information.

What Should You Do to Fetch the Lowest Interest Rate from the YES Bank?

To secure the lowest interest rate on a personal loan from YES Bank, consider the following steps:

• Maintain a High Credit Score: A good credit score (typically above 750) demonstrates your creditworthiness and can help you qualify for lower interest rates on personal loans from YES Bank.

• Build a Strong Relationship with the Bank: Long-standing customers of YES Bank with a history of responsible banking and timely payments may be eligible for better interest rates.

• Choose the Right Loan Tenure: Always try to opt for a longer tenure if it offers a lower interest rate and make sure that it aligns with your repayment capacity so that you can repay the loan in the prescribed time.

• Consolidate Your Salary Account: If you are thinking of availing a personal loan from YES Bank so make sure that you keep your salary account with YES Bank to potentially benefit from preferential rates for account holders.
   
• Negotiate Discounts: Take advantage of any promotions or discounts on interest rates offered by YES Bank for specific customer segments or during festive seasons.

Documents Required for YES Bank Personal Loan

Here is the list of documents that are required by the YES Bank while availing of a personal loan -

• Identity Proof - Driver's license (DL), passport, Aadhaar card, or Election Commission card, colored passport-size photographs.

• Address Proof - Any legitimate identification document that has a permanent address and is at least a 1 year old.

• A three-month bank statement serves as proof of income.

• Employment Proof - An employment letter or evidence of business ownership.

• Income Documentation - Payslips, bank statements, and ITRs

• Credit report demonstrating the applicant's creditworthiness and payback history.

Other Charges of YES Bank Personal Loan

The following are extra costs that may apply when applying for a YES Bank personal loan:

Criteria for Getting the Lowest YES BANK Personal Loan Interest Rate

YES BANK offers the lowest rate of 10.99% to customers on fulfilling the following conditions –

• The minimum monthly salary of the applicant should be INR 75,000
• He/she must be working in a CAT A company
• The loan amount should be INR 7,50,000 and above

YES BANK Personal Loan Customer Care Number

Whenever you want to get in touch with the customer care executives of YES BANK, all you need to do is simply dial 1800 2000 either from your mobile or landline. These experts with their friendly nature and expertise are always there to help and support you. Whether it is feedback, query, concern, or complaint, these professionals are there to give you proper guidance. And, the best thing about these executives is that they are 24×7 available, no matter what.

Compare Personal Loan Interest Rates from Different Banks

Below is a table showing the personal loan interest rates from various banks for 2024 to help you make the best choice.