If you are staring at an unpredictable financial need and do not possess any major asset to show as a collateral, the only feasible way to raise an unsecured loan is to apply for a personal loan at a commercial bank.
Be it a medical emergency, a vacation abroad, or a wedding reception — a personal loan can fulfill your financial need with ease.
Here we list out all the details with respect to personal loan options given by Yes Bank including the rate of interest it charges, eligibility criteria, documents required, process to apply, fees and charges and EMI calculator.
₹
%
Months
Bank | Interest rates |
---|---|
ICICI Bank | 10.80% p.a. - 16.15% p.a |
Kotak Mahindra Bank | 10.99% and above |
Axis Bank | 10.99% p.a.- 22% p.a |
IndusInd Bank | 10.25% p.a. - 34.05% p.a |
HSBC Bank | 9.99% p.a. - 15.00% p.a |
IDFC First Bank | 10.90% p.a. - 36% p.a |
State Bank of India | 11.15% p.a. - 14.30% p.a |
Bank of Baroda | 11.10% p.a. - 18.15% p.a |
Federal Bank | 11.49% p.a. - 14.49% p.a |
Bank of India | 10.85% onwards |
IDBI Bank | 11.00% p.a. - 15.50% p.a |
Punjab National Bank | 11.40% p.a. to 17.95% p.a |
These are unsecured loans, which enables borrowers to procure loan without having to provide any collateral, wherein the bank lends you money based on creditworthiness and other factors.
A personal loan can be availed by all citizens aged between 21 to 60 years. However, one should have a certain monthly salary and a specific CIBIL score. It is mandatory to have KYC and income documents for applying for a personal loan. However, additional documents may be requested on a case-to-case basis.
The repayment tenure ranges between 12 to 72 months.
Yes, the foreclosure facility is available but subject to certain charges and post payment of 12 EMIs.
If you miss EMI payments, it affects your CIBIL score and creditworthiness. You will be liable to face a penalty if you happen to miss the payment.