Yes Bank Students Personal loan

Are you on the lookout for financial support to advance your education? Whether you're aiming for a short-term course, diploma, or certification to enhance your career, the Yes Bank Student Personal Loan might be exactly what you need. This unique loan offering from Yes Bank, a prominent private sector bank in India, is designed to assist students in covering their educational costs. This opportunity allows you to secure funding up to Rs. 40 lakhs, whether your studies take you within India or overseas, featuring appealing interest rates and versatile repayment terms.

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Table of Content

1. Yes Bank Personal Loan For Student Highlights

2. Compare Student Loan From Other Bank

3. Yes Bank Personal Loan For Student Fees And Charges

4. Yes Bank Personal Loan For Student Documents Required

5. Yes Bank Personal Loan For Student Eligibility Criteria

6. Conclusion

Written By

Hepson Franklin

Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.

Reviewed By

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 Personal Loan For Student – Highlights

Below is a structured tabular representation of the key features and benefits of the Yes Bank Education Personal Loan for Students:

Feature	Description
Loan Amount	Up to Rs. 40 lakhs, based on eligibility and course selection
Interest Rate	Starts from 10.99% per annum, varies with credit score, income, and other factors
Tenure	Up to 5 years with a moratorium period of up to 1 year post-course completion
Processing Fee	Up to 2.50% of loan amount, with a minimum of Rs. 999 and a maximum of Rs. 20,000
Prepayment Charges	2% on principal outstanding plus GST, applicable after 12 EMIs
Collateral	Not required, as it is an unsecured loan
Co-applicant	Optional; can include parent, spouse, sibling, or any relative as a guarantor

Compare Student Loan From Other Bank

Here is a table that shows the basic parameters of some of the popular student loans in India:

Bank	Loan Amount	Interest Rate	Tenure	Processing Fee	Prepayment Charges
Yes Bank	Up to Rs. 40 lakhs	From 10.99% p.a.	Up to 5 years	Up to 2.50% of loan amount	2% on principal outstanding + GST
HDFC Bank	Up to Rs. 20 lakhs	From 11.25% p.a.	Up to 7 years	Up to 2.50% of loan amount	4% on principal outstanding + GST
ICICI Bank	Up to Rs. 50 lakhs	From 11.50% p.a.	Up to 7 years	Up to 2% of loan amount	5% on principal outstanding + GST
SBI	Up to Rs. 20 lakhs	From 9.30% p.a.	Up to 15 years	Nil	Nil

Yes Bank Personal Loan For Student – Fees And Charges

Apart from the above, there are some other fees and charges that you need to be aware of before applying for the Yes Bank Education Personal Loan for Students. These include:

Late payment charges: You will be charged 2% per month on the overdue amount if you fail to pay the EMI on time.
Cheque bounce charges: If your cheque or ECS gets bounced due to insufficient funds or any other reason, you will be charged Rs. 750 per instance.
Loan cancellation charges: Fees associated with cancelling a loan after it is disbursed, will be Rs. 1,000 plus GST.
Loan rescheduling charges: If you want to change the loan tenure, EMI amount, or repayment mode, you will be charged Rs. 1,000 plus GST.
Statement of account charges: For a physical copy of your loan statement, you will be charged Rs. 100 per request.
Duplicate NOC charges: A duplicate copy of your no objection certificate, will be charged Rs. 500 per request.

Yes Bank Personal Loan For Student – Documents Required

To apply for the Yes Bank Education Personal Loan For Student, you need to submit the following documents along with the duly filled and signed application form:

Proof of Identity: A government-issued photo ID, such as an Aadhaar card, voter ID, passport, or driver’s licence.
Proof of Address: Current utility bills, a lease agreement, or other documents confirming your address.
Proof of Income: Salary slips, income tax returns, or bank statements demonstrating consistent salary deposits.
Additional Documents: Include a PAN card, an existing credit report, an employment letter/ID, and passport-sized photographs.

Yes Bank Personal Loan For Student – Eligibility Criteria

To be eligible for the Yes Bank Education Personal Loan For Student, you need to meet the following criteria:

When applying for a loan, you must be at least 18 years old and no older than 35 years old.
You must be an Indian citizen or a person of Indian origin (PIO) with a valid passport and visa.
If the course is approved by the bank, you should have been accepted into an accredited college or institute in India or overseas.
A minimum monthly income of Rs. 25,000 should come from a self-employed or salaried source.
With no past defaults or late payments, you should have a strong credit score of at least 650.

Conclusion

Yes Bank Personal Loan for Student is a convenient and affordable way to finance your education and achieve your career goals. You can apply for this loan online or offline and get instant approval and disbursal within 24 hours. You can also enjoy the benefits of online account management, customer care, and flexible repayment options. If you are interested in this loan, you can visit the official website of Yes Bank or contact Urban Money for more details.