Yes Bank Personal Loan Review – Forbes Advisor INDIA – Forbes

insurance

Published: Jan 25, 2022, 5:58pm
Yes bank personal loan is underrated for the kind of the kind of facilities it offers including the facility of door-to-door banking where bank executives help with the documentation of the loans process by paying a visit to collect the documents from the applicants.
The interest charged on this loan depends on the organization the applicant is working with or nature of their job and their credit score.
INR 1 Lakh to INR 40 Lakh

Starting with 10.99%
(interest rate will depend on a lot of factors like your credit ratings among others)
12 to 60
months
INR 1 Lakh to INR 40 Lakh

Starting with 10.99%
(interest rate will depend on a lot of factors like your credit ratings among others)
12 to 60
months
There is a lock-in period of 12 months and one can not close the loan before that. After the compilation of the lock-in period one can close or prepay a chunk of the loan before the scheduled time.
Foreclosure Charges on the Principal Outstanding POS are:
Pre-Part Payment Charges 2% plus applicable taxes on part payment amount paid 3 Pre Part Payment allowed (% of Principal Outstanding – POS):
After submitting the required documents, the bank approval could take up to five working days or more if it wishes to sanction the loan.
EMIs can be repaid in the following manner:
You can apply online for it or by visiting a branch of Yes Bank. Door to door banking facility is also available and the bank employees come and collect the document and other things from the applicant.
One can transfer an existing personal loan from a different bank to Yes Bank at a lowered rate of interest. This requires a little documentation and approval from the bank depending on the credit history and background of the applicant.
Any borrower can buy a personal loan insurance policy from the bank or a service provider acceptable to the bank to safeguard himself or herself from paying the loan in case coming across any incapability like death, critical illness, permanent disability, job loss etc.
Borrowers pay a separate premium for this insurance and in case they face any of the above issues, the insurance pays the rest of the amount and the balance is paid to the nominee of the account holder.
Yes bank also offers this facility to subscribers in collaboration with various companies.
We considered top factors that help consumers decide whether they want to opt for a specific loan offering. We ranked Yes Bank personal loan on the basis of these factors that include:
Armaan is the India Lead Editor for Forbes Advisor. He has more than a decade’s experience working with media and publishing companies to help them build expert-led content and establish editorial teams. At Forbes Advisor, he is determined to help readers declutter complex financial jargons and do his bit for India’s financial literacy.

source

Leave a Reply

Your email address will not be published. Required fields are marked *