YES Bank Loan on Credit Card

Customers can avail the following types of Loan on their credit card

Loan against Credit Card: YES Bank Credit Card allows cardholders to avail a loan against their credit card and pay the loan amount in the tenure of their choice in Equated Monthly Instalments (EMIs).

Settle Outstanding Bill through EMIs: Customers can settle their outstanding credit card bill through EMIs.

The key benefits of YES Bank Loan on credit card are as follows:

• Customers do not have to submit any documents
• The loan is quickly disbursed. It requires 3 working days to transfer the fund to the account of the cardholder
• Bank charges low processing fee and low interest rate
• Customers are not required to provide a third party guarantor to avail the loan on credit card
• Tenure of loan can be of 3, 6, 9, 12, 18 and 24 months
• Under this facility the minimum loan amount that can be availed is Rs. 15,000 and the maximum amount is Rs. 2.00 lakh

YES Bank Loan on Credit Card can be availed through the following process:

• This facility is available to selected cardholders. The cardholders in order to check its eligibility must contact the 24*7 YES Touch Customer Care Centre
• The cardholders are communicated about its eligibility through e-mail, SMS, or by a call from YES Bank
• The maximum loan amount on credit card which can be availed is subject to pre-approval from bank. It is conveyed to the cardholder at the time when the loan amount is approved
• 2% of the loan amount is charged by the bank as processing fee which is non-refundable. GST is also applicable on the charged processing fee
• YES Bank after the approval of the loan will disburse the amount:
• In case of YES Bank Savings Account holder, the loan amount will be transferred on the account, and
• In case of Non-YES Bank Savings Account holder, the loan amount will be transferred through NEFT (National Electronic Funds Transfer) on the other bank savings account
• Non-YES Bank Savings Account must send a scanned copy of the cancelled cheque or bank statement of the account in which they require the disbursement of the loan amount. The bank may reject the approval of loan if the cardholder fails to submit the above-mentioned documents within 72 working hours of placing the request to avail the loan facility

For Further Support : Contact YES Bank Customer Care Centre

Cardholder can pay back the loan amount and its interest through EMIs. Interest shall be charged at the rate stated to the cardholder by YES Bank. To make the payments follow the steps given below:

• Click here to go to YES Bank net banking account
• Click on Login then ‘Credit Cards’ and then ‘Get Started’
• A Pop-up box will appear
• Click on ‘Continue’
• Login by providing the Login ID and Passwords

Why did my YES Bank loan on credit card was rejected?
The bank can cancel/recall the loan on credit card if it fails on any of the below points:

• Applicant failed to pay the monthly outstanding amount on or before the due date as specified in bill
• Cardholder violates any of the provisions of the facility or terms and condition under which the credit card is given
• User defaulted on any other YES Bank Loan facility
• The cardholder had declared bankruptcy in the recent past

Can I avail loan amount over the credit limit?
The Quick Loan application will be rejected if the available credit limit or cash limit is less than the applied loan amount.

When the processing fee will not be charged?
No processing fee is charged on quick loan facility when a special offer is given to the customer at the time of issuing a credit card.

What happens to my credit limit during the period of loan on credit card?
A Quick Loan transaction blocks the available credit limit on the cardholder’s credit card up to the amount of availed loan.

Can I change the tenure of the loan?
Once the quick Loan has been booked, then the tenure of the facility cannot be changed.