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Yes Bank Salaried Employee Personal loan

Yes Bank Salaried Employee Personal loan

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Kirti Bansal

Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.

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Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Yes Bank salaried employee personal loan is a practical credit option. You can apply online and receive the funds within 5 days. Eligible applicants can expect competitive interest rates, flexible repayment options, substantial loan amounts, and more. As a collateral-free credit option, individuals can secure the necessary funds without having to pledge their assets as collateral or security, rendering it a more borrower-friendly credit option. The bank also presents moderate eligibility criteria, minimal documentation, and friendly customer care, enhancing the overall appeal. However, it is wise to gain a thorough understanding before finalising your decision to avoid any unexpected surprises and ensure a smooth and error-free application process. Let’s dive in.

Yes Bank Personal Loan for Salaried Employee – Highlights

Yes Bank salaried employee personal loan interest rate and other key parameters are as follows:

Loan Amount	Rs. 1 Lakh to Rs. 40 Lakh
Interest Rates	10.99% to 20.00% per annum.
Loan Tenure	Up to 60 month
Eligibility	Employees of private firms, the public sector, insurance agents, etc., receive a monthly salary.

Compare Salaried Employee Loans from Other Banks

Below is the comparison of a Yes Bank salaried employee personal loan with other banks across India:

Lender	Interest Rate	Processing Fee	Loan Amount	Loan Tenure
Yes Bank	10.99% p.a. onwards	Up to 2% of the loan amount	Up to Rs. 40 lakh	5 years
Axis Bank	10.49% p.a. onwards	Up to 2% of the loan amount	Up to Rs 40 lakh	7 years
HDFC Bank	10.50% p.a. onwards	Upto Rs 4999	Up to Rs 40 lakh	6 years
Union Bank	10.60% p.a. onwards	0.50% of the loan amount	Up to Rs 15 lakh	6 years
IDBI Bank	9.50% p.a. onwards	1 % of the loan amount	Up to Rs 5 lakh	6 years
State Bank of India	10.55% p.a. onwards	Up to 0.75% of the loan amount	Up to Rs 35 lakh	6 years
Bank Of Baroda	12.15% p.a. onwards	Up to 2% of the loan amount	Up to Rs 20 lakh	7 years
Kotak Mahindra Bank	10.99% p.a. onwards	Up to 3% of the loan amount	Up to Rs 40 lakh	6 years
Tata Capital	10.99% p.a. onwards	3.5% of the loan amount	Up to Rs 35 lakh	6 years

Yes Bank Personal Loan for Salaried Employee – Fees and Charges

Below are the applicable fees and charges for a Yes Bank salaried employee instant loan:

Fee/Charge	Amount
Interest rate	10.99% to 20.00% per annum.
Processing Fee	Up to 2% of the loan amount + taxes
Prepayment Charges	4% of the prepaid amount + taxes
Late Payment Fees	Applicable
Stamp duty and other statutory charges	At Actuals

Yes Bank Personal Loan for Salaried Employee – Documents Required

Yes Bank salaried employee personal loan documentation is as follows:

Proof of Identity: A valid photo ID issued by the government, such as an Aadhaar card, Voter ID, passport, or driver’s license.
Proof of Address: Latest utility bills, lease agreement, or alternative documents confirming your address.
Proof of Income: Salary slips, income tax returns, or bank statements that show stable salary deposits.
Additional Documents: PAN Card, existing credit report, Employment letter/ID, and passport-sized photographs.

Yes Bank Personal Loan for Salaried Employee – Eligibility Criteria

Yes Bank salaried employee personal loan eligibility criteria are as follows:

Age: The applicant must be aged between 21 and 60 years
Income: The applicant must have a stable monthly income.
Employment History: The applicant must have sufficient work experience, preferably 1 year.
Credit Score: The applicants must have a good credit score; 700 or above is ideal.
Current Residence: The applicant must have resided in their home for over a year.