Life is full of ups and downs. Considering the current situation of the economy where several people are facing huge salary cuts and some of them are even losing jobs, a lot of people are struggling. People are looking for urgent funds to fulfill their various needs and there is no better time to opt for a YES Bank Personal Loan considering the current situation. Affordable interest rates, eligibility criteria, end-usage freedom, minimal documentation are some of the prominent features that make this loan one of the best in the market.
Provided by one of the leading private banks of India, YES Bank Personal loan helps in achieving all kinds of financial needs for different customers. As you know that a personal loan can be availed for without providing any security or collateral against the loan amount. In this article, we will be covering different aspects of the YES Bank personal loan such as its features, eligibility criteria, EMI Calculator, etc. After knowing this, you will be in a much better position to decide whether this will be a good option for you not. So, if you want to know more, keep reading.
Features of the YES Bank Personal Loan
We are showing some of the prominent features of the YES Bank personal loan. Please have a look!- One of the most important things that you must look at is the Interest rate on a personal loan. And that’s where YES Bank personal loan could do wonders to you. Starting from merely 10.99% per annum, you will be able to get pocket-friendly EMIs.
- The reason behind this is your EMI Amount directly depends on the interest rates. The higher the interest rates, the higher would be the EMI amount and vice versa.
- You also need to remember that personal loan interest rates tend to be on a higher side due to its unsecured nature. To minimize credit risk, YES Bank provides the loan at higher rates as compared to other secured loans such as Home Loan, Gold Loan, etc.
- With the help of YES Bank personal loan, you can get a maximum loan amount upto INR 40 lakh. The final loan amount will be decided by the lender according to your income and repayment capacity.
- The final rate of interest would also depend on several factors such as your age, monthly income, employment type, job history, residing city, existing obligations and Credit Score.
- YES Bank also provides flexibility in repayment as you can choose the tenure from 12 to 60 months according to your convenience.
- YES Bank ensures the speedy approval of your loan application. As soon as the documentation is done, YES bank will confirm its approval decision within 5 days.
- You can check whether you are eligible or not for a YES Bank personal loan by using the YES Bank eligibility calculator. Just fill in a few details such as your age, monthly income, other monthly expenses, employer, employment history, the period spent living at current residence.
How to use the YES Bank Personal Loan EMI Calculator?
If you want to have an estimate about the repayment amount before opting for the YES Bank personal loan EMI Calculator could be the best option for you. This tool only asks for a few details such as the Required loan amount, YES bank personal loan rate of interest and tenure. On filling these details, you will get the EMI amount instantly.
This tool will help you in knowing whether you will be able to afford the EMI amount or not. Let’s say you want to opt for a loan amount of INR 6 lakh for 5-year at an interest rate of 12.99% per annum. On putting these details, you will get the EMI amount as INR 13,649.
So, you can easily check whether you will be able to pay this amount every month or not, and then, you can manage your finances accordingly.
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