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Money matters

Interest Rates on Personal Loan

Interest Rates on Personal Loan

A personal loan is the easiest way of getting some financial aid to ensure that you do not compromise on the more important things in life. In the event of a financial crunch, we at YES BANK are here to provide you with the necessary funds to meet extra expenses or fulfilling certain financial obligations.

  • Personal loans do not require you to deposit any security, nor do you need to nominate a guarantor, unlike most other loans.

  • All you need to do is fill out an application form and produce basic documents to avail a personal loan.

  • You can apply for a personal loan online, from the comfort of your home or office, via the YES BANK website.

  • A fixed interest rate is charged on the loan amount, which is determined by your application and credit score and the kind of personal loan required.

  • We at YES BANK offer you exceptional service at the most competitive rates in the market. Our personal loan rate of interest or minimum ROI begins at 14%.

  • You can repay the loan over a period of your choice through Equated Monthly Instalments (EMIs), which vary depending upon the amount you choose to borrow and the tenure of the loan.

  • YES BANK’s customer-friendly repayment policy allows you to calculate the EMIs according to the personal loan interest rate, using the online EMI calculator.

Interest rates are calculated on an annual basis or a monthly reducing basis. Opting for a monthly reducing interest rate reduces the outstanding principal amount, and the subsequent month’s interest is calculated according to the remaining principal amount. The interest is calculated once a year in case you opt for an annual basis interest rate, without taking off the monthly EMIs paid by you during that year.

 

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