In broader terms, a personal loan is the most attractive option to consider if you are in urgent need of money. These loans are very flexible, as they can be used for anything; i.e., the bank does not provide you this loan for a specific purpose, you are free take personal loan for holidays, wedding or any other personal cause. These loans are provided to salaried employees and self-employed people.
Undoubtedly, in today’s stressful life holidays need no longer be a luxury. Holidays are essential to restore your health and take some time off with your loved ones to completely relax. With a Holiday Loan from YES BANK, you don’t need to worry about the cost of travel. A personal loan for a holiday from YES BANK is the best option when planning for a vacation/ holiday trip. Primarily, it covers most of the expenses of your trip, such as the flight tickets and the hotel charges. Depending upon the days of your holiday loan, it can also cover travel accessories, among other things as well.
What Are the Benefits Of Taking A Personal Loan For Vacation?
There are numerous benefits of taking a personal loan for a holiday from YES BANK. Some of the benefits are its easy documentation and quick approval. Overall, the documentation process is hassle-free and straight-forward, and the quick approval and disbursal let you get your finances on time. YES BANK offers you loans at attractive rate of interest which you can pay back over a specified period through the way of comfortable monthly instalments. Moreover, the bank does not require any securities or collaterals for a Holiday Loan either.
How to Apply For Personal Loan?
The application process at YES BANK for a personal loan online is simple and can be done through internet banking, you can also visit your nearest YES BANK branch. There are standard eligibility criteria like providing KYC and income proof. Also, the application fee charged is also nominal, with no hidden terms and conditions. So, don’t hold yourself back prevent from going on a vacation. With the best personal loan from YES BANK, you are assured an easy process that will get you to your dream vacation sooner.
Decoding Personal Loan EMI Calculator
A personal loan EMI is when you are paying the bank a fixed sum against the overall loan. Bank gives loans with EMIs as low as INR 2162 for every 1 lakh of the loan amount and personal loan interest rates starting from 10.75%. However, you can calculate the EMI on your loan, Yes Bank offers a convenient solution which is the personal loan EMI calculator:
You can calculate your EMI by filling just these three details:
The loan amount
The rate of interest, &
The tenure of the loan.
Once you have input all these three details in the Yes Bank personal loan calculator, it gives a graphical representation of the total interest and the amount that you will be paying by the time the loan period ends. Hence, it gives you an exact idea about the amount while selecting the loan amount that you are paying for the loan and what is the ideal tenure you should opt for,
You can put the calculation figures manually; the EMI is calculated using the below mentioned formula:
EMI = (P × R × (1+r)^n)/((1+r)^n-1)
Let say, the loan amount P can be anywhere between 5-20 lakhs
And the interest rate R is at 10.75% (usually)
The loan tenure N can be up to 30 months i.e. 2.5 years
YES BANK offers innovative financial solutions, backed by expert advice which in return takes care of your banking and personal loan requirement. For more information on personal loans click, https://www.yesbank.in/personal-banking/yes-individual/loans/personal-loans