YES Bank is one of the fourth largest private sector banks in India. It also has the only Greenfield license provided by the Reserve Bank of India. YES Bank was founded by Rana Kapoor and Ashok Kapoor in 2004. Since 2004, this Bank is serving thousands of customers in its system.
One of the popular products of this Bank that helps YES Bank to grow this much is the personal loan. The lowest interest rates among all the private banks and also quick loan disbursal. You can take up to 25 Lac of personal loans for consumer needs, medical facilities etc. If there is ever any emergency of funds, then YES Bank personal loan is the only solution to the problem.
Why choose YES Bank for a personal loan?
There are some reasons why you should choose only YES Bank for the personal loan. Some of the reasons, I have mentioned below.
- Quick and easy loan approval.
- The lowest interest rates starting from 10.25%.
- There is no guarantee or collateral required.
- The loan amount can start from Rs 1 lac and can go up to Rs 25 Lac.
- Hassle-free application process and 100% transparency.
- YES Bank also provides flexible loan tenure, ranging from 12-60 months.
- You will also get the facility of balance transfer and top-up.
- Quick disbursal of the loan amount within a few days.
Fees & Charges
There is nothing hidden, and as I mentioned earlier, the process of loan is 100% transparent. Therefore, the fees that are linked towards processing your personal loan are.
- Processing charges: 2.5% of the loan amount or 999.
- Foreclosure charges: Foreclosure of the loan is only possible after 12 months EMI. The foreclosure fee is charged at 2% to 4%.
- Part prepayment charges: 2% of amount towards part payment (This prepayment is only allowed after 12 EMI’s)
- Loan cancellation charges: 1000+ GST Rs.
- Late payment charges: 24% P.A on the outstanding amount after the date.
- Stamp duty: The charges is applicable as per the laws applicable in the state.
- Cheque bouncing charges: Rs 750 for bounced cheque + applicable taxes.
- The applicant’s age should be more than 21 years old.
- The applicant should have a good credit score for quick loan disbursal. That should be at least 700+.
- The monthly income of the applicant also taken into consideration.
- The reputation of the employer’s history is also checked.
- The applicant needs to fill the application form.
- Proof of identity, address and other essential documents required by the Bank.
- Proof of Income.
- Bank statement.
We know that YES Bank is one of the largest private sector banks of India. It has more than 1000+ branches that are currently operated in India. Apart from providing regular private banking services, this Bank is also useful in providing personal loan to the required candidates. In this article, I have mentioned everything about YES Bank business loan. You can also comment down on this post below for any other information.