YES Bank Personal Loan Interest Rate

4.5

YES Bank is one of the most renowned brands in the banking sector, offering myriad investment and financial products to customers in India. One can avail of a personal loan from the bank with minimal documentation at an attractive interest rate commencing from 10.99% per annum. One can apply for the same.

  • Personal Loan offer for You

  • 10.99% - 20%

    Interest Rate (p.a.)
  • ₹1L - ₹40L

    Tenure(1 - 5 Years)
  • ₹2,174 - ₹2,649

    EMI Per Lakh
  • Personal Loan offer for You
  • 10.99% - 20%

    Interest Rate (p.a.)
  • ₹1L - ₹40L

    Tenure(1 - 5 Years)
  • Up to 2%

    Processing Fee

YES Bank Personal Loan Rate Comparison with Other Banks

The following table compares the interest rates on personal loans for YES Bank and other financial institutions. 
  • Starting Interest Rate (p.a)
  • Processing Fee
  • Rating
  • Min. Loan Amount
  • CASHe PL Interest Rate

  • 27%

  • We offer a 2.50% interest rate per month (Equivalent to reducing the balance interest rate to 3.71% per EMI) on the loan amount.

  • 4.5

  • ₹1K - ₹4L

    Tenure(7 - 45 Years)

  • Prefr PL Interest Rate

  • 15% - 36%

  • 3-5% with Minimum Proc. Fee of INR 1500 + GST

  • 4.5

  • ₹50K - ₹5L

    Tenure(1 - 4 Years)

  • 50 K
  • 1 Cr
Years
  • 1
  • 5
%
  • 8
  • 25

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

The YES Bank personal loan interest rate commences from 10.99% per annum. One can raise funds from this renowned financial institution to pursue personal projects. One can avail of a personal loan under various schemes such as medical emergencies, debt consolidation and the acquisition of gadgets. 

The loan tenure on this financial product ranges from 18 to 60 months. 

YES Bank Personal Loan Interest Rate by Schemes

The YES Bank offers Personal loans to customers for the following purposes. The bank has segmented personal loans into the following types: 

YES Bank Personal Loan for Holiday

The YES Bank Personal loan for holidays can be availed of by individuals who want to raise funds for travel expenses. The loan covers the cost of tickets, hotels and other such travel-related expenditures. The Bank also covers travel accessories concerning the size of the loan. 

YES Bank Personal Loan for Wedding 

The YES Bank personal loan for weddings is a loan product offered by the bank to cater to the financial needs incurred during the wedding. The bank has designed this scheme to provide financial assistance to the parent or sibling as they host an extravagant event. One can avail of the loan for wedding expenses such as jewellery, clothing, decoration and catering. 

YES Bank Personal Loan for Home Renovation 

The YES BANK Personal Loan for home renovation allows borrowers to raise funds from the financial institution to conclude the renovation of their property. Under this scheme, one can utilise the amount borrowed from the bank to decorate and refurbish their current residence. The bank has designed tailor-made loan plans for the applicants to meet their requirements without hassle. 

YES Bank Personal Loan Interest Rates for Salaried and Self-Employed

The YES Bank personal loan interest rate for Salaried employees and self-employed individuals commences from 10.99% per annum and varies based on the application. 

YES Bank Pre-Approved-Personal Loan Interest Rate

Customers with the bank can reach out to banking officials to obtain the pre-approved interest rate on the personal loan with YES Bank. Customer shall provide their CIBIL Score, Income statement and other such documents. After a thorough evaluation, the bank will provide the customers with the pre-approved interest rate. The interest rate offered to the applicant would be concerning the customer's creditworthiness. 

YES Bank Personal Loan Interest Rates and Charges

The YES Bank interest rates on personal loans vary based on the purpose of the loan or the application. The following table showcases the interest rates on personal loans and the charges applied for processing the loan. 

Interest Rate 
YES Bank Personal Loan  10.99% onwards 
Foreclosure charges.  One can foreclose the loan post 12 successful EMI repayments. 
  • 13-24 months of EMI - 4% of POS 
  • 25-26 months of EMI - 3% of POS 
  • 37-48 months of EMI - 2% of POS 
Pre-Part Payment Charges  2% applicable taxes on the amount paid
NOC/Duplicate No Due Certificate  Rs 250 per statement 
Pre-Part Payment  12 EMIs 
Account Charges (Duplicate statement)  Rs 750 per statement 
Loan Cancellation/Pre-booking charges Rs 1,000 + Taxes 
Duplicate  Repayment Schedule  Rs 750 per schedule 
Statement of Account Charges  Rs 750 per schedule 
NeSL annual Renewal Fee per loan  Nil 

Factors Affecting YES Bank Personal Loan Interest Rates

The Interest rates on the YES Bank personal loan varies from applicant to applicant. It has been identified that the financial institution accounts for the following factors while computing the interest rate on the loan product. 

  • The bank will evaluate the applicant's CIBIL score to examine the applicant's creditworthiness. The CIBIL score provides the bank with a numeric summary of the applicant's credit history. A satisfactory credit score for the applicant will ensure that the borrower has a diligent loan repayment history.
  • The Bank would also ensure the financial stability of the applicant. YES Bank might provide lucrative interest rates to applicants with good financial stability and a solid income stream as they have the pockets to make timely repayments on personal loans. It is advised that an applicant's income is more than the monthly repayment amount to reflect that the borrower can budget the repayments. 
  • When a borrower selects a more extended repayment period on the personal loan. The bank might reduce the interest rate on the loan product. However, it is to be noted that a longer tenure would also increase the cost of the loan as the borrower would pay more interest.
  • A long-standing relationship with the bank also provides the borrower to avail of specific discounts and rebates on the personal loan. If the borrower has been a customer with the bank, they might be eligible for a better deal on interest rates. 

How to Calculate YES Bank Personal Loan Interest/EMI

One can conveniently compute the interest by using Urban Money online personal loan calculators from the comfort of your end. These AI-powered tools provide the users with the interest amount almost immediately. The user must only mention values on the fields features, such as the loan amount, interest rate and tenure. The YES Bank employs the following formulae to calculate the EMI amount on a personal loan. 

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Here, 

‘P’ stands for the Principal amount,

‘R’ stands for the interest rate, 

And 

‘N’ stands for the tenure.

How to Get Low-Interest Rates on YES Bank Personal Loan?

The borrower inclined to avail of the YES Bank Personal loan must implement the following tips to reduce their interest rates. 

  • The borrower must maintain a punctual and diligent credit history to showcase their creditworthiness. This will increase their CIBIL score and make them eligible for lucrative interest rates. 
  • The borrower can also work to reduce the loan amount to decrease the burden of the loan and make the repayment more manageable. 
  • The borrower can also employ EMI calculators to compare varying tenures and interest rates in the market to obtain the one that complements their budgetary goals. 

Personal Loan by Other Banks

Frequently Asked Questions (FAQs)

What is the current interest rate of Yes Bank's personal loan?

The interest rate on the personal loan varies from applicant to applicant. However, it generally commences from 10.99% per annum. 

How can I reduce my interest on a YES Bank personal loan?

The applicant can reduce the interest rate by maintaining a satisfactory CIBIL score to showcase their creditworthiness.

Is Yes Bank personal loan a floating-rate loan or a fixed-rate loan?

The Bank offers the personal loan on both Fixed and floating rate basis, which the applicant selects at their discretion.

Do Yes Bank demand collateral or security for personal loans?

No, personal loans are unsecured, and the banks do not require any collateral against the loan.

Can individuals pay off their Yes Bank loans EMI early?

The applicant can pre-pay their loans to reduce the interest on the loan but have to pay pre-payment charges for the same.

What is the EMI for a personal loan of 1 lakh?

The EMI on loan would differ based on the interest rate offered to the particular borrower.

Urban Money