Purpose – YES bank’s Personal Loan to individuals and small businesses for their various needs.
Eligibility – The loan is offered to individuals in the following segments – Salaried Individuals (Age between 25 -58 years, Min Net Income of 3 lakhs p.a, Min 3-5 years work experience), Manufacturers/ Traders/ Dealers/ Distributors, Private and Public limited companies (closely Held), Partnerships, Proprietorships and Small Businesses (in existence for at least last 5 years, Profit making in last 2 years, Annual Turnover > 40 lakhs, Positive Net worth for Minimum 2 recent years).
Quantum of loan – Upto 30 Lakhs
Paperwork – 1)Business Loans: IT returns and Audited Financials for last 2 years, Income and Identification documentation as per Banks Credit Policy, Bank Account statement for the last 6 months.
2) Salaried Individuals: latest 2 months Pay slip, last 6 months bank statement.
Term of loan – 12 to 36 months