Yes Bank, is one of the fastest-growing private banks in our country offering premium customer service and developing into a renowned corporate entity. Several international corporations are stakeholders in the fortunes of Yes Bank which within a very short period has developed into one of the biggest private commercial lenders in India today. Its reliability is visible from the statistics that a healthy proportion of middle-income consumers avail the personal loan facility from Yes Bank. Following are some of the preliminary features of Yes Bank Personal Loan-
What is a Personal Loan?
A personal loan refers to the amount of money that is taken from private commercial banks to regulate daily expenses. No mortgages are required for availing the facility of personal loan. The amount of money that can be availed as a personal loan differs from one bank to another according to the guidelines and policies mentioned in the filing for the commercial lenders. The loan is provided according to the fixed percentage of money which is provided as a monthly interest payment along with the installment amount which is repaid on a quarterly or half-yearly basis.
Benefits of Yes Bank Personal Loan
Yes, Bank Personal Loan offers several benefits and advantages to the borrower who borrows money from the private commercial bank. Among the most important benefits of Yes Bank, Personal Loan is speedy and quick approval. Yes, Bank provides the lender with the option of submitting documentation concerning the borrower's details and income certificates. After the submission of the personal documents, the bank verifies the documents and looks into the fact that whether the documents are forged or not.
After the acceptance of the documents the banks ratify the loan and transfer the amount to the account of the borrower who approached the bank for the loan. The second benefit that Yes Bank Personal Loan offers is the system of lucrative interest rates. If the bank maintains high-interest rates then the borrower would not be inclined to approach the bank for a loan since he would be aware that he or she has to pay a significant amount of money as interest. However, Yes Bank offers attractive rates of interest which not only attracts the customers but also builds a sense of reliability in them that the banks care about their payment capability and capacity.
Eligibility of Yes Bank Personal Loan
Personal Loans at Yes Bank are eligible for people who possess the following eligibility criteria-
Age
Monthly Income of the borrower
Other recurring monthly expenses of the borrower including EMI's
Employer of the Borrower
Employment History
Period of staying at the current residence.
Conclusion
Thus Yes Bank Personal Loan is a lucrative means to generate credit in the economy.
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