How To Apply For YES Bank Personal Loan in Easy Steps?

One of the main reasons behind the popularity of YES Bank Personal Loan facility among customers is its hassle-free loan application process along with other reasons like minimal documentation, affordable interest rate, lower processing fee, etc. More than often, a personal loan is the first thing that an individual looks to opt for in the time when he or she is in need of money. The reason: there is no need of guarantor or security or collateral against the loan amount. Anyone can get the required loan amount provided he or she is eligible for the loan.

Several customers feel confused about the YES Bank personal loan application procedure. Applying for a loan is one of the most important aspects when you are going to opt for a loan amount, and that’s why you need to follow all the steps carefully. Otherwise, the application may get rejected. If you do it multiple times, it can also impact your credit score negatively. That’s why, in this article, we will provide all the steps needed to apply for YES Bank Personal Loan so that you can apply without any problem. Read on to know more!

Steps to Apply for YES Bank Personal Loan

One of the best things about YES Bank Personal Loan is that individuals can apply for the same either via online method or by visiting the nearest branch of YES Bank. There are a few important steps that an individual needs to follow. We are mentioning the same below. Have a look!

Step 1: The first step while you are going to choose YES Bank personal loan is to have an estimate about your loan requirements. Before going for the personal loan, you should have a clear idea about how much money you want and how and when you will return it back. As you know that you will need to pay an EMI amount every month towards repayment of the loan. That’s why, you should choose a loan amount according to your monthly income otherwise you may face difficulty in repaying the loan.

Step 2: In the second step, you will need to fill in a few basic details such as your age, monthly income, current obligations (EMIs), employment type, employment history, years at current job, and period of living in current residence. According to these details, YES Bank will have an estimate about your eligible loan amount. Do remember that an individual with high income and nil to low existing obligations can get a higher loan amount as compared to an individual with several obligations.

Step 3: After submitting the form, the representatives from the YES Bank will call you and ensure you that you have all the required documents. Want to know what are those documents that you will need to show? Well, we are showing them below.

• Application Form

• Identity Proof (Passport/ Driving Licence/ Voter ID)

• Address Proof

• Last 3-month bank statement as the Income Proof

YES Bank will check the authenticity of your documents, and if all is well, you will get the loan amount into your bank account. One of the best features of YES Bank Personal Loan is its affordable interest rates that starts from 10.99%. However, the final rate will depend on several factors such as age, income, employment type, employment history, credit score, etc. With this personal loan from YES Bank, you can choose a loan amount ranging from INR 1 lakh to as much as INR 40 lakh.