Yes Bank Personal Loan Interest Rate 2022

Yes Bank provides up to Rs. 40 lakhs of personal loans at an interest rate starting from 10.00 percent p.a. These collateral-free loans from the bank can be used by both salaried and self-employed individuals to cover a range of personal expenses. To learn key information about Yes Bank Personal Loan, read this post.

Yes Bank provides interest rates for personal loans beginning at 10.00 percent p.a. A processing fee of up to 2.50 percent of the loan amount is charged by Yes Bank, subject to a minimum charge of Rs.999. Yes Bank personal loans can be borrowed by both salaried and self-employed citizens. Rs.1 lakh is the minimum loan amount that can be selected, while Rs.40 lakhs is the maximum loan amount. The minimum tenure of a loan is 12 months, and the maximum tenure of a loan is 60 months. To pay for medical bills, debt restructuring, buy devices or appliances, etc., you can borrow a personal loan from Yes Bank.

Particulars	Details
Interest Rate	10.00% p.a. onwards
Processing Fee	Up to 2.50%, subject to a minimum charge of Rs.999
Loan Tenure	12 months to 60 months
Loan Amount	Up to Rs.40 lakhs
Employment Status	Salaried employees and self-employed professionals
Credit Score	Ideal score – Over 700
Lowest EMI per Lakh	Rs.2,174*
Foreclosure Charges	Up to 4% of the outstanding principal
Overdue EMI Payment Charge	24% p.a. on the outstanding amount

1. Loan term- Personal loan tenure can affect the interest rates charged by the bank and loans with longer tenures can receive a lower interest rate compared to loans with shorter tenures.

2. Repayment ability-The repayment ability of a person is a critical factor when it comes to determining interest rates. Generally, those with a higher redemption capacity will be paid a lower rate of interest.

3. Relationship with YES BANK- Individuals with a good relationship with YES BANK could be in a position to lower their interest rates based on their past actions and personal status. Banks can decrease interest rates for esteemed clients who have shown a commitment to their payments in the past.

4. Jobs information: Interest rates can vary depending on the occupation of the borrower. Salaried borrowers can get a lower interest rate compared to self-employed borrowers, as a result of having a steady stream of income. There will not always be a stable source of income for borrowers with an inconsistent job background and they may end up paying a higher interest rate because the bank may see them as risky.

5. Age: Banks can vary their interest rates depending on the age of a borrower, like a lower interest compared to young people (<30 years) could be charged to senior citizens (>60 years).

6. CIBIL score: The CIBIL score lets the lender decide how likely you are to repay your loan, without defaulting on repayments. Individuals with a high credit score of over 700 will usually be given a lower rate of interest. A high-interest rate can be paid to many with low CIBIL scores, even if their loan request is approved.

Some of the main charges associated with a Yes Bank personal loan include the following:

Loan Processing Fees	Up to 2.5% of the loan amount subject to a minimum of Rs. 999
Foreclosure Charges (allowed after 12 EMI payouts)	Between 13-24 months – 4% of Principal Outstanding Between 25-36 months- 3% of Principal Outstanding Between 37-48 months- 2% of Principal Outstanding More than 48 months- NIL
Part Pre-payment Charges (allowed after 12 EMI payouts)	2% + applicable taxes on part prepayment amount repaid
Duplicate No Dues Certificate / No Objection Certificate (NOC)	Rs. 250 per event
Charges for late payment of EMI	24% per annum on amount outstanding from the date of default
Stamp duty and other statutory charges	As per applicable state laws
Cheque swapping charges	Rs. 750 each time + taxes
Cheque bounce charges	Rs. 750 per instance + taxes
Loan cancellation*/ Rebooking charges	Rs. 1000 + taxes
Legal/ incidental charges	At actual
Duplicate repayment schedule charges	Rs. 750 per instance
Statement of account charges	Rs. 750 per instance

* In the event of loan cancellation, the customer would be responsible for both cancellation fees and interest. Cancellation within 15 days from the date of disbursement of the loan is permitted.

The examples below will give you a better understanding of how when you borrow a personal loan from YES BANK, your loan repayments will work.

Example 1: A web designer, Sunil, receives a salary of Rs.50,000 a month. He wants to borrow an Rs.1 lakh personal loan from Yes Bank. At an interest rate starting from 10.99 percent per annum and a processing fee of 2.50 percent of the loan sum, he prefers a term of 60 months to repay the loan. The composition of his loan repayment will be as follows:

• Loan Amount-    Rs.1 lakh
• Processing Fee- 2.50%
• Loan Tenure-      5 years
• Interest Rate-     10.99% p.a.

Month	Principal Paid (A) (Rs.)	Interest Paid (B) (Rs.)	Total Payment (A+B) (Rs.)	Outstanding Loan Balance (Rs.)
1	15,880	10,206	26,086	84,121
2	17,713	8,369	26,082	66,406
3	19,764	6,322	26,086	46,644
4	22,049	4,037	26,086	24,596
5	24,595	1,488	26,083	0

In Sunil's case, Rs.2,174 will be his monthly EMI. Throughout the loan repayment period, the gross interest he will pay will be Rs.30,425. He will also pay an Rs.2,500 processing fee. Rs.1,32,925 will be the cumulative repayment sum.

Example 2: At a leading international school in Delhi, Sunanda works as a tutor. To make her travel dreams come true, she wants to take out a personal loan of Rs.5 lakhs. She prefers a three-year loan term and has to pay a processing fee of 2.50 percent of the loan amount with interest rates beginning at 10.99 percent per annum.

For 3 years, Sunanda will pay an EMI of Rs.16,367 per month. A cumulative interest of Rs.89,212 along with a processing fee of Rs.12,500 will be paid by her. Rs.6,01,712 will be her total repayment number.