Easily get Personal Loan by fitting into easy Personal Loan Eligibility Criteria

Yes Bank personal loan 2021 comes up to Rs. 50 lakhs with interest rates starting at 12.49 percent per annum. The bank offers these collateral-free loans to both salaried and self-employed persons to cover a variety of personal costs. To learn more about the Yes Bank personal loan 2021, read this article. 

Features of Yes Bank Personal Loan  

• Unsecured Loan: There is no need to put up any collateral to obtain the loan. 

• Flexible Payback Options: You have the option of choosing a loan repayment term of up to 5 years, depending on your needs. You can also compare EMI payouts for various tenures and select the one that best suits your needs. 

• Quick Approval: The Yes Bank mPower Bot can approve your loan application in principle in one minute. The bank will confirm its decision within 5 working days after receiving your application documents after you have submitted them. 

• Yes Bank personal loans can be disbursed in as little as a few hours after your loan application has been processed and approved.

• Competitive Interest Rates: The interest rate on a personal loan from Yes Bank starts at 12.49 percent per annum. 

• Online Loan Application: You can simply get a personal loan from Yes Bank by filling out an online loan application with minimal documents. 

• Personal Loan Balance Transfer: You can transfer your high-cost personal loan to Yes Bank for a cheaper interest rate. In addition, if you require additional funds, you can take out a top-up loan on the account. 

• Yes Bank offers doorstep banking services to its customers. For the completion of the application and paperwork processes, a representative will come to your office or home. 

• Part Prepayment: After 12 EMI payments, you can partially prepay your personal loan. 

Personal Loan Interest Rates at Yes Bank 

The interest rate on a Yes Bank personal loan 2021 starts at 12.49 percent per annum. Actual personal loan interest rates may vary depending on factors such as the applicant’s profile, loan amount, and other considerations.  

Yes Bank presently offers four different forms of personal loans: 

• Personal Loan for Holidays from Yes Bank: It can be used to cover a variety of expenses, including aeroplane tickets and hotel fees.

• Yes Bank’s Personal Loan for Wedding: It can be used to pay various expenses linked to jewellery, apparel, decoration, food, and other aspects of your own or a family member’s wedding. 

• Personal Loan from Yes Bank for Home Renovation: You can use it to renovate or redesign your home according to your and your family’s needs. 

• Quick Loan from Yes Bank: It’s a pre-approved personal loan available to members of certain credit cards. It is known for quick disbursement and can be utilised for a variety of things, including travel, house renovations, medical costs, and so on. 

Criteria for Eligibility 

Individuals who are salaried or self-employed can apply for a personal loan from Yes Bank if they meet the following main criteria:  

Salaried Personnel 

Yes Bank personal loans 2021 are available to salaried employees aged 22 to 60 having a monthly income of Rs. 18,000 or more. Other important elements that may affect your qualifying for a Yes Bank personal loan include: 

• Score and history of credit 
• Monthly Earnings 
• EMIs that have already been paid and other ongoing costs 
• A long history of stable employment 
• Living at the current address for a period of time 
• Whether you live in a rented, owned, or mortgaged home 
• Relationship with the bank 

Self-Employed  

Yes Bank requires self-employed candidates to be 22 years old to apply for a personal loan. 

Apart from the aforementioned characteristics, the following are other elements that affect the eligibility of self-employed individuals seeking for a Yes Bank personal loan: 

• The current business registration certificate or an equivalent document attests to the business’s stability. 
• Certified account statements/P&L statements, etc. show a consistent income history. 

Documents Needed to Apply for a Loan 

The following are some of the most typical documents needed to apply for a personal loan with Yes Bank:  

• Completed application form 
• Identity proof (passport, Aadhaar, driver’s licence, voter’s ID) 
• Address proof is required. 

For Salaried, a certain document is required: 

• Salary Slip/Salary Certificate of a salaried applicant as proof of income 

• Proof of employment – Company letterhead signed and stamped certifying employment time for salaried employees. 

For Self-Employed, a certain document is required: 

• Proof of Income- Certified P&L Statements or Acknowledged Income Tax Returns/Bank Statements 

• Proof of Business – A business registration certificate or a similar document is required as proof of business. 

Conclusion:  

To sum up, Yes Bank personal loan 2021 comes with various benefits one of them is easy to meet personal loan eligibility criteria. You can also apply for a personal loan through Afinoz to get amazing deals.