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YES BANK BUSINESS LOAN

About YES Bank business loan :

Yes Bank was established in 2004 and their headquarters in Mumbai. It offers a wide range of banking and financial services for corporate and retail customers. The Yes Bank is one of the most trusted banks for the business loan. The IFSC Code of YES Bank of India is YESB0000024. This loan is also available for both salaried and self employed customers for financing the expansion or working capital requirements of their business.

Many people will have the vision of starting their own business or if one already has a business to expand it and build it into something better. Any person wanting to start a business or any individual wanting to expand their business needs funds to do so. This is where entrepreneurs and individuals take loans at a previously agreed rate of interest and time. Without this working capital businesses cannot run smoothly. Be it MNCs everyone will have need of funds at one point of time or another. Lenders like Yes Bank provide Business loans just for that purpose.

YES Bank SME Loans :

Yes Bank provides loans to self-employed and businessmen for financing the expansion or working capital requirements of their business. There are some YES Bank SME loan Schemes for better understanding.

1. YES SAMRIDDHI – It is a financing proposition to meet the monetary requirements of businesses involved in services, trading and manufacturing businesses.

  • The loan scheme has turnover-based lending approach for assessing the credit limit

  • Maximum loan amount: Rs. 4 crores and Rs. 2 crores (in case of non DP linked Overdraft (OD))

  • Fund based credit: cash credit, overdraft, working capital loan, term loan, drop line OD and export credit

  • Non-fund based credit: Letter of credit, buyers credit and bank guarantee

  • Trade related facility: CMS limits and forward cover

  • Parameterized template based fast track sanction with local credit delegation

  • Loan against residential/commercial/industrial/NA plot

2. YES SUYOG – This loan scheme finances SME businesses in services, trading and manufacturing sectors

  • Relaxation of collateral coverage on the basis of high scores

  • Preferential pricing for credit profiles with good scores

  • Appraisal based on score card

  • Fund-based credit: cash credit, overdraft, working capital demand loan, term loan, drop line OD and export credit

  • Non-fund based credit: Letter of credit, buyers credit and bank guarantee

  • Trade related facility: CMS limits and forward cover

  • Maximum loan amount: Rs. 2 crores

  • Loan against residential/commercial/industrial/NA plot/SLBC/BG/FD/surrender value of LIC

3. SMART OVERDRAFT – Quick overdraft facility for MSMEs involved in trading and manufacturing. Also for professionals like Doctors, Engineers, Architects and Chartered Accountants.

  • Balance sheet is not needed for analysis

  • Credit assessment is based on customer’s banking transactions

  • Fund based limits (overdraft and drop line overdraft)

  • Loan amount: From Rs. 20 lakh to Rs. 1 crore

  • Loan against residential/commercial/NA plot/SLBC/BG/FD/Surrender value of LIC

4. CASH BACKED Lending Program – Financing option for service providers, traders and manufacturers.

  • Fast processing with minimal documentation

  • Best for immediate and non-fund based credit needs of SMEs

  • Non-fund based credit: Buyer’s credit, letter of credit or bank guarantee

  • For domestic business, the margin is 100% of Letter of Credit, Bank Guarantee or Standby Letter of Credit

  • Letter Of Credit: 180 days /up to 3 years in case of Supplier’s Credit LC

  • Bank Guarantee: 36 months (including claim Period)

  • Letter Of Undertaking: up to 3 years for arranging BC for Capital Goods and up to 1 year period for arranging BC for non-capital goods. 

5. YES GST – Quick financing for MSME businesses.

  • Assessment of limit on the basis of turnover according to GSTR 1 returns
  • No balance sheet or bank statement is required for assessment.

  • Up to 1 crore rupees financing through fund-based OD or Drop-line OD facility

  • Faster approval with quick documentation

  • Charge on current assets such as stock and book debts is not necessary to be hypothecated

Interest rate, Fee & Charges of YES Bank business loan :

TYPE

CHARGES

Interest rate

16.25% to 19.99% p.a.

Processing fee

Up to 2%

Tenure

12-36 months

Loan amount

Rs. 5 lakh to Rs. 50 Lakhs

Prepayments fees

2%, after 12 EMI’s

Foreclosure fee

Up to 4%, after 12 EMI’s

Eligibility criteria for YES Bank Business Loan :

ELIGIBLE

Salaried and Self employed

AGE

21 years to 65 years

ITR

24 months

EMPLOYMENT STATUS

At least 3 years

CREDIT SCORE

750 or more

TURNOVER

Rs.1,00,00,000

Documents required for YES Bank Business loan :

TYPE

Id Proof

Address proof

 

Income proof

Salaried

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card telephone bill

Last 6 month bank statement, salary slip last 3 month

Self-employed

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card telephone bill

Last 6 month bank statement, Form 16, Latest ITR along with Balance Sheet

Partnership Firms/private limited companies

Aadhar card, pan card, passport, voter id

Electricity bill, registry, rental agreement, voter id, Aadhar card telephone bill

Last 3 month bank statement, latest ITR, Registered Lease Document with other utility bills,

Sales Tax or VAT Certificate,

Shop & Establishment Act Certificate

Compare other bank business loan interest rate :

BANKS 

INTEREST RATE

HDFC Bank Business Loan

15.65% to 21.20%

Yes Bank Business Loan

16.25% to 19.99%

Citi Bank Business Loan

12% to 16%

RBL Bank Business Loan

10.65% to 16.25%

Indian Bank Business Loan

8.30%

Others products of YES Bank :

  1. YES Bank Personal Loan

  2. YES Bank Home Loan

  3. YES Bank Car Loan

  4. YES Bank Gold Loan

How to apply for YES Bank Business SME Loans :

There are 2 options by which one can apply for a business loan.

  • Offline : Visit to Branch

  • Online :

    • In online method go to YES Bank website

    • Now click on “Business Banking”

    • In Business Banking go to “YES SME Loans”

  • Fill the application form and submit it with attaching all mandatory documents

  • Bank associate will let you know in few minutes that you are eligible or not for the loan

  • After getting approval visit to YES bank branch for further proceedings

How to calculate EMI of YES Bank business loan :

The following formula is used to calculate EMI of YES Bank Business Loan :

EMI = P x R x (1+R)^n/((1+R)^n-1)

There is also a manual method for computing EMI. But it is a time-taking and complex method for EMI computation. There are chances of errors as well in the manual method. But if you are a mathematical freak then you can use the manual formula.

R stands for Rate of interest

N stands for Tenure period.

P stands for Loan amount

How to contact with YES Bank Business Loan :

  1. By customer care number : +912261219000 / 18001200 (Toll free number)

  2. By customer care email id : yestouch@yesbank.in

  3. By SMS : SMS ‘HELP’ space

Financial products offered by Bank :

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN

LOAN AGAINST PROPERTIES

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

Yes Bank Frequently Asked Questions :

1. What are the prepayment charges on business loans from YES Bank?

The prepayment fee charged by YES Bank business loan is upto 4%.

2. Is age an eligibility factor to get a loan for business from YES Bank?

Yes, age is an important factor to get a loan as you should be at least 21 years old at loan approval time and 65 years old at maturity time.

3. How much business loan amount can I borrow from YES bank?

Yes Bank offers loan amount for business loan is from Rs.5 lakh to Rs.50 lakh.

4. What is the maximum tenure of business loan in YES Bank?

The maximum tenure of business loan in YES Bank is 36 months.

5. How much processing fees is charged by business loans from YES Bank?

Upto 3% of the loan amount processing fee is charged by business loans from YES Bank.

 

Last Updated on : 30/Jul/2020

Know More About

Yes Bank Business Loan

You're eligible for a Yes Bank Business Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Business Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Yes Bank Business Loan Interest Rates

Updated on 25 Nov 2017

Yes Bank Business Loan Details
Interest Rate (Monthly reducing balance) 16.25% - 19.99%
Processing Fees Up to 3% of the loan amount
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Business Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
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5
|
10
|
12.5
|
17.5

Loan Tenure

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1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959