Are YES Bank Personal Loan Interest Rates Competitive Enough?

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YES Bank has grown steadily over the years to become a major private sector bank in India. The bank offers a plethora of banking products such as personal loans that one can apply for. It provides the loan at attractive interest rates starting from 10.75% per annum. The attractive rates ensure you won’t have to face any hassle paying off the loan. However, budgets can vary from one individual to another. Keeping that in mind, you must get an idea of the likely repayment before applying for the loan. So, you must check the effect of YES Bank Personal Loan Interest Rates. You can do so in this article.


YES Bank Personal Loan EMI Calculator Shows the Effect of Interest Rates

You should use the EMI calculator to compute your repayment estimates. The calculator just needs loan amount, tenure and interest rate to calculate the indicative EMI and interest outgo over the course of a loan. The Equated Monthly Installment (EMI) is a combination of interest and principal to be paid to the lender over the course of a loan. Now, you need to check whether you can pay the installments as shown on the calculator. If so, you can then go ahead and strike a deal.

How are YES Bank Personal Loan Interest Rates Determined?

YES Bank Personal Loan Interest Rates are determined on the basis of factors such as income, employment status and age of a borrower. A solid income and increased job stability could help you grab a lower rate deal. If you are relatively young and earning a handsome amount, you can get YES Bank Personal Loan at lower rates. However, less income and increasing frequency of job switch can lead to higher rates. Your credit history could also be checked by the lender to ascertain the interest rate on a loan.

How Much Loan Can You Get at YES Bank?

YES Bank can offer personal loans ranging from ₹1-40 lakh for purposes such as a wedding, vacation, home renovation, etc. You can get a loan for as much as 5 years. Now, more the loan amount you take more the EMI you need to pay and vice-versa. On the other hand, longer the tenure greater would be the interest and lesser the EMI. In comparison, the shorter tenure raises your EMI but lessens your interest liability.

YES Bank Personal Loan Application Online

You can apply for a personal loan on the website of YES Bank or at the nearest branch of the lender. All you need is to fill the personal and employment details correctly before submitting the application. The application must be supported by valid documents. You can check the list of documents below.
  • Identity Proof - PAN Card/Aadhaar Card/Driving License/Voter ID/Passport
  • Residence Proof - Aadhaar Card/Driving License/Voter ID/Passport
  • Income Proof - Last 3 months bank statement

YES Bank Personal Loan Application Status Check Online

You can check the YES Bank Personal Loan application status on the website of the lender. You need to enter the application reference number to check the status. You can even call 24x7 customer care number or dial the branch officials to know the status.

YES Bank Personal Loan Preclosure Calculator

You can prepay the personal loan with extra funds whenever they are available with you. The prepayment relieves you from the interest burden. However, prepayment can come with applicable charges. You can use the EMI calculator again to calculate the benefits of prepayment. The calculator will show you the savings of interest from prepayment. However, do factor in the prepayment charges and check whether the resultant saving is substantial or not. If it is, then prepay the loan.
Location: India

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