Yes Bank Self Employed Personal loan

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If you are a self-employed professional or non-professional, Yes Bank’s Personal Loan for the Self-employed is the perfect choice for you. This loan scheme is tailor-made for your personal and business needs, giving you the funds you need to pursue your passions and projects. You can get up to Rs. 40 lakhs with flexible repayment options and low interest rates that suit your budget.

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Table of Content

1. Yes Bank Lakh Personal Loan for Self-Employed Highlights

2. Compare Self-Employed Loan from Other Banks

3. Yes Bank Personal Loan for Self-Employed Fees and Charges

4. Yes Bank Personal Loan for Self-Employed Documents Required

5. Yes Bank Lakh Personal Loan for Self-Employed Eligibility Criteria

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Written By
Kirti Bansal
Kirti Bansal
Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.
Reviewed By
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Yes Bank makes it easy for you to apply for the loan online with minimal paperwork and quick approval. You can enjoy the benefits of the digital era and achieve your goals faster. Yes Bank’s Personal Loan for the Self-employed is the foundation of your dreams, helping you create a future where nothing is impossible.

Yes Bank Lakh Personal Loan for Self-Employed – Highlights

Following are salient features of the Yes Bank Personal Loan for Self-Individual:

Feature Description
Loan Amount Rs. 1 lakh to Rs. 40 lakhs
Interest Rate 9.50% to 16.50% p.a.
Processing Fee Up to 2.50% of the loan amount
Loan Tenure 12 to 60 months
Prepayment Charges 2% to 4% of the outstanding amount
Part Payment Charges 2% to 4% of the part payment amount

Compare Self-Employed Loan from Other Banks 

The table below shows a detailed comparison between Yes Bank Self-Employed Loan from other banks:

Bank Loan Amount Interest Rate Processing Fee Loan Tenure
HDFC Bank Rs. 50,000 to Rs. 40 lakhs 10.75% to 21.30% p.a. Up to 2.50% of the loan amount 12 to 60 months
ICICI Bank Rs. 50,000 to Rs. 40 lakhs 10.99% to 18.49% p.a. Up to 2.25% of the loan amount 12 to 60 months
Axis Bank Rs. 50,000 to Rs. 15 lakhs 12% to 24% p.a. Up to 2% of the loan amount 12 to 60 months
Kotak Mahindra Bank Rs. 50,000 to Rs. 20 lakhs 10.99% to 20.99% p.a. Up to 2.50% of the loan amount 12 to 60 months

Yes Bank Personal Loan for Self-Employed – Fees and Charges

Apart from the interest rate and processing fee, there are some other fees and charges associated with the loan, such as:

  • Late payment charges: 24% p.a. on the overdue amount
  • Cheque bounce charges: Rs. 750 per bounce
  • Swap charges: Rs. 500 per swap
  • Duplicate statement charges: Rs. 100 per statement
  • Foreclosure statement charges: Rs. 100 per statement
  • Loan cancellation charges: Rs. 1,000
  • GST and other taxes as applicable

Yes Bank Personal Loan for Self-Employed – Documents Required 

The documents required for the loan application are:

  • PAN card/ Aadhaar card/ passport/ driving license/ voter ID
  • Address proof
  • Bank statements, income tax returns, audited financial statements, etc.
  • GST registration, business licence, trade licence, etc.
  • Passport size photographs of the applicant and co-applicant

Yes Bank Lakh Personal Loan for Self-Employed – Eligibility Criteria 

The eligibility criteria for the loan are:

  • Minimum and maximum age limits are 21 and 65 years, respectively
  • The self-employed individual must be professionals like CA, architects, doctors or non-professionals like businessmen
  • The gross annual receipt must be Rs. 12 lakhs for professionals and Rs. 15 lakhs for non-professionals
  • The business must have been in existence for at least 3 years
  • The credit score must be above 700
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