personal loan

Is YES Bank Personal Loan Financially Feasible? Let’s Find Out

Finance

We all aspire to live a life wherein we don’t need to rely on others to fulfill our needs. But, call it the dynamicity or uncertainty of life, things do not go as planned or wished. And so, one has to take the support of a personal loan to take the innings forward and fulfill the needs of marriage, education, medical emergencies, etc.

Yes, the loan can be provided to you as there are many lenders available for the same, including YES Bank. Let’s examine your prospects with YES Bank Personal Loan and see whether the lender is right for you or not.

YES Bank Personal Loan Interest Rate 2018

Available to all the eligible salaried at interest rates of 13.99%-16.99% per annum, the loan serves the need of many in an affordable manner. The rates have a direct impact on the EMI, which stands for Equated Monthly Installments. Higher the rates greater would be the outflow of installment and vice-versa. Other factors that govern the EMI are the loan amount and tenure. The maximum loan and tenure can be up to 25 lakhs and 5 years, respectively.

How to Calculate YES Bank Personal Loan EMI?

The calculation of the EMI is contingent on the loan amount, tenure and interest rate. And the tool that helps you calculate the same is Personal Loan EMI Calculator, which can be found online. So, go online and calculate the installment applicable to your loan.

YES Bank Personal Loan Processing Fee & Other Charges

The loan comes with a processing fee at about 2.50% of the loan amount, with the minimum being ₹999 plus applicable taxes. You may receive a bulk amount owing to investment proceeds or a hike in the emolument. You can use that to pay the entire outstanding balance or pay a part of the loan to reduce the interest burden.

However, it’s not allowed before the payment of the first 12 EMIs. Plus, there are charges on the same. When it comes to paying the entire balance in one go, the charges would appear to be 2%-4% of the principal outstanding. Prepayment after paying the loan EMIs for more than 48 months won’t bear any charge. Part-payment, on the other hand, comes with a charge of 1% of the amount part-paid as well as applicable taxes.

YES Bank Easy Loan Without Documents

If you already hold a banking relationship with YES Bank, you can be greeted with a pre-approved personal loan which won’t require any documents as they are already with the lender. But that would depend on the smoothness of your relationship.

For instance, if you have a savings account with YES Bank, how much of a balance you maintain on a periodical basis would lead to such an offer. Plus, the month-on-month credit of salary to the bank account would also give it a clue about your income to assess your loan eligibility.

YES Bank also provides instant loan if you have its credit card. The beauty about YES Bank Easy Loan Without Documents is that they get credited instantly as there’s no need for document verification. So, check with the bank whether you are eligible for a pre-approved loan. If so, go for it and fulfill your needs.

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