If the lack of finances are creating bumps in your road to that one dream car then you can have a financial hand from Yes bank and bring your desired vehicle home. Yes bank car loans can be availed to buy a new or old car at affordable interest rates and low processing fees. The bank brings car loan options suiting different requirements of individuals. On the top, the Yes bank vehicle loans come at up to 100% financing for easy loan repayment tenure options that range 1 year to 7 years.
Loan Amount |
Up to 90% of the car value (Ranging fromRs 1 lakh to Rs 500 lakh) |
Interest Charges |
Starts at 9.25% per annum |
Processing Fees |
Up to 1% of loan amount plus applicable taxes |
Repayment Tenure |
Up to 84 months |
Prepayment |
Up to 6% of principal outstanding |
Here are the notable features of Yes bank car loan that you may want to consider:
1. Purpose : Yes bank car loans provide financial help to the individuals who want to buy their desired car. The lender offers car loan options for new as well as old cards that are designed to meet requirements of different borrowers.
2. Loan amount : Yes bank car loans bring up to 90% of the car value to prospective buyers. Apart from that, the bank also offers customers up to 100% financing on select models. Yes bank car loan amount also depends on the age and model of car and besides that, it is decided by applicant’s profile.
3. Attractive interest rates : Yes bank car loan interest charges start at 9.25% and are subject to the model and age of car.
4. Flexible Loan Repayment Tenure : Yes bank offers flexible repayment tenure options to the customers. The Yes bank car loan repayment tenure options range from 1 year to 7 years.
5. No guarantor required : Yes Bank is an unsecured loan that's why it does not require any security and guarantor for car loan.
6. Prepayment : The bank allows you to prepay your Yes bank car loan amount. You can foreclose Yes bank car loan after 6 months of loan installments. The bank charges borrowers a prepayment penalty in this case.
Here are the prepayment charges during different tenures:
TYPE |
CHARGES |
Processing fees |
Upto 1% of the loan amount |
Documentation charges |
Rs.600 |
Prepayment charges |
3% to 6% of outstanding loan amount |
Stamp duty charges |
At actual |
Loan cancellation charges |
Rs.1000 |
Late payment fees |
2% per month |
Credit charges (on request) |
Rs.50 |
You have to meet certain Yes bank car loan eligibility requirements set by the lender in order to get the car loan easily. Failing the eligibility criteria for Yes car loan can result in rejection of your loan application. It is must that you go through the Yes bank car loan eligibility criteria before you apply for the loan.
Here is the eligibility criteria for Kotak Mahindra car loan:
Here are the documents required for Yes bank car loan application:
Documents |
Salaried Applicants |
Self Employed Applicants |
Identity Proof |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
Address Proof |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
Income Proof |
Salary Slips, Bank Statements, Form 16 |
Balance sheet and profit and loss account, IT Returns, Business Proof |
Other Documents |
Passport-size Photographs, Duly Filled Application Form |
Passport-size Photographs, Duly Filled Application Form |
COMPARE OTHER BANK CAR LOAN INTEREST RATE:
BANKS |
INTEREST RATE |
9.05% to 11.30% |
|
8.00% to 10.75% |
|
8.80% to 10.50% |
|
8.00% to 24% |
|
Start at 12% |
|
9.30% to 12.85% |
|
9.30% to 9.90% |
|
Starts at 7.55% |
|
10.65% to 15.50% |
|
8.85% |
|
8.95% |
|
7.75% to 10.30% |
|
8.45% |
You can apply for a Kotak Mahindra car loan either offline or online. Here is how you can apply:
You can go to the nearest branch of Yes bank to apply for a Yes bank car loan offline. At the bank branch branch, you will be required to fill out the Yes bank car loan application form. When you visit the bank, ensure that you carry all the important documents that will be needed for the car loan application procedure.
Here is how to apply for Yes bank car loan application online:
You are just one call away from the solutions for any query, grievances or complaints that you have related to the Yes bank car loans . If you want any assistance with the Yes bank car loan or you want to raise any query then you can reach out to the Yes bank customer care.
Here is the Yes bank car loan customer care number:
1800-419-1717
FAQs On Yes Bank Car Loan
Yes, the bank allows car loan borrowers to make prepayment of Yes bank car loans. You can prepay your Yes bank car loan amount after completing 6 months of installments.
You can visit the nearest Yes bank branch to apply for Yes bank car loan offline. Alternatively, you can go to the official website of Yes bank and apply for the loan online.
Yes bank offers 905 of the value of the car. The Yes bank loan amount ranges from Rs 1 lakh to Rs 500 lakh.
Last Updated on : 10/Apr/2021Know More About
You're eligible for a Yes Bank Car 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 Car 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
Updated on 25 Nov 2017
Yes Bank Car Loan Details | |
---|---|
Interest Rate (Monthly reducing balance) | 9.25% - 0% |
Processing Fees | Upto 1% of the loan amount |
Loan Tenure | 1 year to 7 years |
Pre-closure Charges | Varies with bank |
Guarantor Requirement | Varies with bank |
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