Yes Bank Personal Loan of 4 Lakh

Sometimes, you may have some personal expenses that require extra money, such as your dream wedding, a trip abroad, a higher education, or a medical emergency. Yes Bank can support you with a personal loan of 4 lakh rupees or even more, based on your eligibility. You can get a Yes Bank Personal Loan 4 Lakh with low interest rates and flexible repayment options that suit your budget. Let’s look at all the aspects of this loan, such as how to apply online or offline, what documents you need to submit, what features and benefits you can enjoy, and what eligibility criteria you need to meet.

Personal Loan Options For 4 Lakh In Yes Bank

• Instant Approval: You can get instant approval for your personal loan of 4 lakh rupees from Yes Bank if you meet the eligibility criteria and submit the required documents online. You can check your eligibility and apply for a personal loan on the Yes Bank website or through online platforms like Urbanmoney.com.
• Quick Disbursal: Once your personal loan application is approved, you can get the loan amount disbursed to your bank account within a few hours. You can use the loan amount for any personal purpose without any restriction.
• Minimal Documentation: You can apply for a personal loan of 4 lakh rupees from Yes Bank with minimal documentation. You only need to submit your identity proof, address proof, income proof, and bank statements. You can upload these documents online or submit them at the nearest Yes Bank branch.
• Attractive Offers: You can avail of attractive offers and discounts on your personal loan of 4 lakh rupees from Yes Bank, such as balance transfer, top-up loan, referral bonus, and loyalty rewards. You can also get customized loan solutions based on your profile and needs.

Features of Yes Bank Personal Loan 4 Lakh

• Interest Rate: Yes Bank offers personal loan interest rates starting from 10.99% per annum for salaried borrowers. The interest rate may vary depending on your credit score, income, loan amount, tenure, and other factors.
• Loan Amount: You can get a personal loan of 4 lakh rupees from Yes Bank, subject to your eligibility and repayment capacity. The maximum loan amount offered by Yes Bank is 40 lakh rupees.
• Tenure: You can choose a repayment tenure of up to 4 years for your personal loan of 4 lakh rupees from Yes Bank. The longer the tenure, the lower the EMI, but the higher the interest cost.
• Processing Fee: Yes Bank charges a processing fee of up to 2.50% of the loan amount, subject to a minimum of Rs. 999 plus GST. The processing fee is deducted from the loan amount before disbursal.
• Prepayment Charges: You can prepay your personal loan of 4 lakh rupees from Yes Bank after paying 12 EMIs, subject to a prepayment charge of 2% on the principal outstanding plus GST. Prepaying your loan can help you save on interest and reduce your debt burden.

Can I Get a 4 Lakh Personal Loan Instantly From Yes Bank?

Yes Bank offers a streamlined process for your personal loan needs. While loan approval isn’t instantaneous, their online tools and mobile app can provide you with an in-principle decision on your eligibility for a 4 lakh loan in just one minute. Once you submit your complete application and pass their checks, Yes Bank is known for its fast turnaround time, potentially disbursing the funds within hours of final approval.

What Is The EMI For 4 Lakh Loan?

To calculate the Equated Monthly Installment (EMI) for a loan of ₹4 Lakh, you would need to know the interest rate and the loan tenure. The general formula used for EMI calculation is:

EMI=(1+R)N−1P×R×(1+R)N​

Where:

• ( P ) is the principal amount (₹4 Lakh in your case)
• ( R ) is the monthly interest rate (annual rate divided by 12)
• ( N ) is the loan tenure in months

For example, if the annual interest rate is 10% (which is 0.0083 monthly) and the tenure is 60 months, the EMI would be calculated as follows:

EMI=(1+0.0083)60−1400000×0.0083×(1+0.0083)60​

This is a simplified example. In reality, the interest rate and tenure can vary, and there might be additional factors like processing fees or insurance that could affect the EMI. For an accurate calculation, you can use online EMI calculators provided by financial institutions.

Eligibility Criteria

To be eligible for a personal loan of 4 lakh rupees from Yes Bank, you need to meet the following criteria:

• You should be an Indian citizen and resident.
• You should be at least 21 years old and not more than 60 years old at the time of loan maturity.
• You should be a salaried employee of a reputed public or private company, or a self-employed professional or non-professional with a regular source of income.
• You should have a minimum net monthly income of Rs. 25,000 if you are salaried, or a minimum annual income of Rs. 4 lakh if you are self-employed.
• You should have a minimum work experience of 2 years if you are salaried, or a minimum business vintage of 3 years if you are self-employed.
• You should have a good credit score of 750 or above.

Documents Required for Yes Bank Personal Loan 4 Lakh

To apply for a personal loan of 4 lakh rupees from Yes Bank, you need to submit the following documents:

• PAN card, Aadhaar card, passport, voter ID card, driving license, etc.
• Aadhaar card, passport, voter ID card, driving license, utility bills, rent agreement, etc.
• Salary slips for the last 3 months, bank statements for the last 6 months, Form 16, IT returns, etc. for salaried applicants; bank statements for the last 6 months, IT returns, balance sheet, profit and loss account, etc. for self-employed applicants.
• A recent passport-sized photograph.

How To Apply For 4 Lakh Personal Loan From Urban Money?

To apply for a 4 Lakh personal loan through Urban Money, simply check your eligibility online, gather necessary documents, fill out and submit the application on their website, and await approval for quick access to funds.