Interest rates charged by YES BANK depend on factors like the borrower’s repayment capacity and purpose for funds and are some of the most competitive rates in India. The Base Rate at YES BANK is 10.50% per annum (effective 22/06/2015). Interest rates for the year 2015 are dependent on the current base rate and range between 14% per annum to 16% per annum, based on different parameters. YES BANK offers the option of repaying a personal loan through flexible EMIs, ensuring that repayment doesn’t become an additional financial burden.
Yes Bank Personal Loan Interest Rates 2018
| Particulars | Salaried | Self-employed |
| Interest rate | Minimum of 14% p.a. | Minimum of 14% p.a. |
| Loan Amount | Minimum: Rs.2 lakh Maximum: Rs.20 lakh |
Minimum: Rs.2 lakh Maximum: Rs.20 lakh |
| Loan Tenure | Minimum: 12 months Maximum: 60 months |
Minimum: 12 months Maximum: 60 months |
| Lowest EMI | Rs.4,654 p.m. (Calculated for the minimum loan amount for the longest tenure allowed at the lowest interest rate available) | Rs.4,654 p.m. (Calculated for the minimum loan amount for the longest tenure allowed at the lowest interest rate available) |
| Processing Fee | NA | NA |
| Age | Not specified | Not specified |
| Prepayment Charges | No charges. But prepayment allowed only after 12 months. Part prepayments allowed: 20% for 12 – 24 months 20% for 24 – 36 months 25% for 36 – 48 months 25% for 48 – 60 months |
No charges. But prepayment allowed only after 12 months. Part prepayments allowed: 20% for 12 – 24 months 20% for 24 – 36 months 25% for 36 – 48 months 25% for 48 – 60 months |
| Foreclosure Charges | Foreclosure is allowed only post repayment of 12 EMI’s Within 12 to 24 months: 4% Within 24 to 36 Months: 3% Within 36 to 48 Months: 2% After 48 Months: No charge |
Foreclosure is allowed only post repayment of 12 EMI’s Within 12 to 24 months: 4% Within 24 to 36 Months: 3% Within 36 to 48 Months: 2% After 48 Months: No charge |
Factors affecting YES BANK Personal Loan Interest Rates
The interest rate an individual pays for a YES BANK personal loan depends on multiple factors, some of which are mentioned below.
- Loan tenure – The tenure of a personal loan can have an impact on the interest rates charged by a bank and it is possible for loans with longer tenures to attract a lower interest rate compared to loans with shorter tenures.
- Repayment capacity –The repayment capacity of an individual is a crucial factor when it comes to determining interest rates. It is possible for YES BANK to charge rates which do not overburden a borrower in terms of his/her repayment capacity.
- Relationship with YES BANK– Individuals having a good relationship with YES BANK could be in a position to lower their interest rates, on the basis of their past behavior and personal standing. It is possible for banks to lower interest rates for esteemed customers who have displayed a commitment to their payments in the past.
- Employment details – Interest rates can vary according to the profession of a borrower. It is possible for salaried borrowers to get a lower interest rate compared to self-employed borrowers, thanks to them having a steady source of income. Borrowers with an unstable job history might not always have a steady income source and could end up paying a higher interest rate as the bank could view them as risky prospects.
- Age – It is possible for banks to vary their interest rates depending on the age of a borrower as senior citizens (>60 years) might be charged a lower interest compared to youngsters (<30 years).
Note: Interest rates charged by YES BANK are at their sole discretion and subject to change.
How CIBIL score affects YES BANK Personal Loan Interest Rates
The CIBIL score of a borrower can have an impact on the interest rate he/she pays for a YES BANK personal loan. YES BANK relies on the CIBIL score of an applicant to gauge his/her repayment capacity and credit history and it is possible for a borrower with a good CIBIL score to negotiate interest rates charged by YES BANK, on account of this score. Borrowers with a poor CIBIL score could end up paying a higher interest rate as they might not come across as creditworthy and it is possible for banks to charge higher interest rates in such cases.
Key things about YES BANK Personal Loan Interest Rates
- The interest rates charged by YES BANK could change if there are any changes in its Base Rate.
- Interest rates charged by YES BANK do not depend on collateral and there is no need to provide a guarantor/surety in order to obtain this loan.
- Any changes in repo rates could have an impact on interest rates charged by YES BANK.
