YES Bank EMI Credit Card

Introducing the latest innovation from YES Bank: the EMI Credit Card. This card is crafted to enhance your financial flexibility, addressing your “buy now, pay later” needs and ensuring you’re prepared for unforeseen cash shortages.

With the YES Bank EMI Credit Card, bidding farewell to the stress of paying the entire purchase amount upfront is effortless. Your transactions seamlessly convert into flexible EMIs, simplifying budget management. Moreover, you have the liberty to select your preferred EMI tenure, ranging from a convenient 3 months to a more extended 12 months.

But wait, there’s more. This card is packed with a plethora of enticing benefits, including insurance coverage, automatic EMI conversion, fuel surcharge waivers, cashback rewards, hassle-free documentation, and a host of other perks.

To gain a comprehensive understanding of the YES Bank EMI Credit Card, let’s explore its features and advantages further.

Key Highlights of YES Bank EMI Credit Card

Here are the key highlights of the YES Bank EMI Credit Card:

  1. Purchase today, pay tomorrow: This card allows you to shop without immediate full payment, offering the choice to transform transactions into EMIs.
  2. Adjustable EMI Terms: Select from a variety of EMI periods, spanning from 3 to 12 months, to conveniently manage your finances.
  3. Secure with Insurance: As a cardholder, enjoy insurance coverage for added peace of mind and security.
  4. Effortless EMI Conversion: Your purchases automatically convert into EMIs, streamlining your payment procedures.
  5. Fuel Surcharge Exemption: Take advantage of waived fuel surcharges, cutting down on your fuel costs.
  6. Cashback Incentives: Gain cashback rewards on all card transactions, boosting your savings with every buy.
  7. Simplified Application: Enjoy a hassle-free application process with minimal documentation requirements.
  8. Added Benefits: Discover a suite of tailored perks and advantages to enrich your financial journey.

The unique features and benefits of the YES Bank EMI Credit Card underscore its versatility and make it an invaluable asset in managing your finances effectively.

Features and Benefits of YES Bank EMI Credit Card

Discover the array of advantages and characteristics offered by the YES Bank EMI Credit Card.

  1. Automatic EMI Conversion:
    Your transactions will seamlessly convert into flexible EMIs automatically, sparing you the hassle of doing it yourself.
  2. Cashback:
    Earn up to 1% cashback on all transactions, with a maximum cashback limit of INR 500 per month.
  3. YES Cart:
    Indulge in a generous 3% cashback on all purchases made through YES Cart.
  4. Insurance:
    Benefit from accidental death insurance coverage provided to all primary cardholders of the EMI Credit Card.
  5. Fuel Surcharge Waiver:
    Enjoy a 1% fuel surcharge waiver at fuel stations across India.
  6. Password for IVR Transactions:
    Quickly produce OTPs for IVR transactions on your EMI Credit Card by texting ‘YESIVR’ plus the final four digits of your YES Bank Credit Card to 9212738927 using your authorized mobile number.
  7. Repayment Tenure:
    The YES EMI Credit Card provides the option of repaying purchases through EMIs, with a choice of repayment periods spanning from 3 to 12 months, offering flexibility to cardholders.

YES Bank EMI Credit Card Fees and Charges

  • Card Name: YES Bank EMI Credit Card
  • Joining Fee: ₹499 + Taxes
  • Annual Fee: ₹499 + Taxes
  • Minimum Annual Credit Card Spend for Fee Waiver: ₹1.2 Lacs
  • Income Eligibility:
  1. Salaried: Minimum ₹25,000 per month
  2. Self-employed: Minimum ITR of ₹5 Lacs
  • Supplementary Card Fee: Free
  • Interest Rate: 42% per annum
  • Foreign Currency Markup: 3.50%
  • Cash Advance Charge: 2.50% with a minimum of ₹500
  • Repayment Tenure: The YES EMI Credit Card provides the option of repaying purchases through EMIs over a span of 3 to 12 months, offering flexibility in repayment terms.

Eligibility criteria for the YES Bank EMI Credit Card

The requirements for the YES Bank EMI Credit Card could shift with time and are open to alterations. To ensure accuracy, it’s crucial to verify the latest prerequisites either through the YES Bank’s official website or by reaching out to YES Bank directly. Nonetheless, here are a few standard eligibility factors frequently taken into account by financial institutions when reviewing credit card applications:

  1. Age: Most banks typically mandate applicants to fall within a specified age bracket, typically spanning from 21 to 60 years old, although this range may fluctuate in accordance with the bank’s particular policies.
  2. Income: Banks often have a minimum income requirement for credit card applicants. The income requirement can vary based on the type of card and the applicant’s location.
  3. Employment Status: You may need to provide proof of stable employment or a regular source of income. Salaried individuals and self-employed individuals may have different documentation requirements.
  4. Credit Score: Having a good credit score is usually necessary to get approved for a credit card. A higher credit score enhances your likelihood of approval and might also influence the credit limit you’re offered.
  5. Citizenship and Residency: Some credit cards may have specific eligibility criteria related to citizenship or residency status in the country where the card is issued.
  6. Existing Relationship with the Bank: Having an existing account or a history of responsible banking with YES Bank may improve your eligibility.
  7. KYC Documents: You’ll likely need to provide Know Your Customer (KYC) documents such as proof of identity, address, and income.

It’s important to note that simply meeting the requirements doesn’t assure approval. Your application will be evaluated by the bank according to these standards and their internal rules. Furthermore, each credit card type might come with distinct attributes and qualifications. Therefore, it’s essential to examine the particular eligibility criteria for the YES Bank EMI Credit Card either on their official site or by reaching out to the bank directly.

Documents Required for YES Bank EMI Credit Card

  • Identification Documents Accepted:
  1. PAN Card
  2. Aadhaar Card
  3. Passport
  4. Voter ID
  5. Job Card issued by NREGA
  • Valid Address Proof Options:
  1. Aadhaar Card
  2. Passport
  3. Voter ID Card
  4. House Registry Documents
  5. Utility Bill (not older than 2 months)
  • Income Verification Documents Required:
  1. The most recent 2 months’ salary slips
  2. The latest Form 16
  3. The most recent bank statement

How to apply for YES Bank EMI Credit Card

You can choose between online and offline methods to apply for YES Bank’s EMI Credit Card based on your convenience. If you prefer the offline route, visit the nearest YES Bank branch with all necessary documents and fill out a physical application form. If you prefer the online application process, follow these straightforward steps:

  1. Navigate to the official YES Bank website.
  2. Select the ‘Apply Online for Credit Card’ choice.
  3. Enter your essential information accurately.
  4. Proceed with the card application process until it’s finished, then submit the completed form.

Frequently Asked Questions (FAQs)

  1. What exactly is the YES Bank EMI Credit Card all about?

The YES Bank EMI Credit Card simplifies big purchases by allowing you to split them into manageable monthly payments, accompanied by appealing interest rates. It’s a handy tool for better expense management.

  1. How do I get my hands on a YES Bank EMI Credit Card?

To snag a YES Bank EMI Credit Card, you can either apply via their official website or by visiting a YES Bank branch. The process typically involves filling out an online form and providing necessary documents.

  1. What are the standout features of the YES Bank EMI Credit Card?

Key features include:

  • EMI Conversion: Transform your purchases into easy EMIs.
  • Competitive Interest Rates: Enjoy attractive rates on EMI transactions.
  • Reward Points: Rack up points with every swipe.
  • Online Account Management: Easily handle your credit card affairs online.
  1. Can I customize the duration of my EMI plan?

Absolutely, you have the freedom to choose your preferred tenure, ranging from 3 to 24 months, based on your financial comfort.

  1. How are the interest fees calculated for EMI transactions?

Interest charges hinge on the total converted amount, chosen tenure, and applicable interest rate. The interest is then spread across the EMI duration.

  1. What purchases are eligible for EMI conversion?

Most substantial transactions like gadgets, appliances, and travel expenses qualify, but eligibility may vary. It’s best to verify specifics with YES Bank.

  1. How do I review my YES Bank EMI Credit Card statement?

Access your statement through YES Bank’s online banking portal or mobile app for a breakdown of your transactions, outstanding balance, and EMI particulars.

  1. Is there an annual fee associated with the YES Bank EMI Credit Card?

Fees and charges fluctuate depending on the card variant. Check the terms and conditions or reach out to YES Bank’s customer support for precise details.

  1. Can I settle my EMI transactions ahead of schedule?

Certainly! Clear your EMI balance by paying off the outstanding amount. Remember, terms and conditions may apply, so it’s wise to consult YES Bank for specifics.

  1. What steps should I take if my YES Bank EMI Credit Card goes missing?

If your card is lost or stolen, immediately notify YES Bank’s customer support to block the card and request a replacement. They’ll guide you through the process seamlessly.