Yes Bank Car Loan Customer care, Preclosure Charges, Interest Rates

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Yes Bank Car Loan

All we want to live a comfortable life for that we do lots of things work hard to earn a good amount of money. In this process, the automobile like a car plays an important role in our life to make it comfortable. Every individual wants a car for their work or personal use. Watching daily a new different car is arriving in the market and we just got attracted to the features of the car and wish to buy it. Some of us can buy it but most people couldn’t afford to buy it. Then they go for cheap cars that fit in our budget. Now the question here is how can we buy our dream car with a low budget? To overcome this problem we have car loan facilities.

Yes Bank is one of the most trusted banks for the car loan. This bank provides car loans on new and pre-owned cars with attractive interest rates and features. 

Yes bank car loan features and benefits

 Now with Yes bank, you didn’t need to hesitate to buy your dream car. Yes bank car loans come with most suitable features and benefits. And all the schemes of the bank are customer friendly and easy to understand.

  • Min loan amount is 1 lakh and max. the loan amount is Rs 500 lakh

  • Individuals, Proprietorship Firms, Partnership Firms, Public/Pvt. Limited companies can apply for this car loan

  • LTV of up to 95% on select models

  • Attractive interest rates

  • Multiple repayment options

  • The loan tenure ranges from 1 to 7 years

Yes Bank Car Loan Eligibility Criteria

If you are going for the car loan from Yes bank must check that you come under eligibility criteria. Here below we explain in detail eligibility criteria for Salaried, self-employed, and partnership firs/sole proprietorship/private limited companies

Eligibility 

  • Salaried Individuals

    • Aged between 21 years and 60 years

    • Employed for a minimum of 2 years with at least 1 year with the current employer

    • Earn at least Rs.3 lakh p.a.

    • Have a telephone/post-paid mobile

  • Self-Employed Individuals (Sole Proprietorship)

    • Should be in the business of trading, manufacturing, or services

    • Aged between 21 years and 65 years

    • Should have been in business for at least 2 years.

    • Have an annual income of at least Rs.3 lakh

  • Self-Employed Individuals (Partnership Firms)

    • Self-employed partners in the manufacturing, trading or services business

    • Should have a turnover of at least Rs.3 lakh p.a.

  • Self-Employed Individuals (Private Limited Companies)

    • Owners of private companies in the manufacturing, trading or services business

    • Should have a minimum annual income of Rs.3 lakh

  • Self-Employed Individuals (Public Limited Companies)

    • Directors in public limited firms in the manufacturing, trading or services business

    • Have earnings of at least Rs.3 lakh p.a. 

Yes bank car loan interest rate, fee, and charges

Type of charge

Amount

Documentation fee

Rs 499

Cheque swapping fee

Rs 750/ transaction

Cheque bounce fee

Rs 750 / bounce

NOC personal and commercial use

Rs 2250/- per NOC

Valuation charge

Rs 1000

Collateral charge

Rs 499

Re-booing/ loan cancelation charge

Rs 1000

Loan Re-schedulement fee 

Rs 1000

Processing fee

For new car- Up to 1% of the loan amount

For used car- Up to 2% of the loan amount

Late payment fee

2% p.m.

Duplicate NOC

Rs 750 per NOC

Loan statement fee

Rs 750 per statement

Special NOC charge

Rs 500 per request

 

Documents for Axis bank car loan

While applying for a car loan properly check all the documents that are mention below. Without these documents, a loan is not possible to get. 

 Documents

TYPE

Id Proof

Address proof

Income proof

Salaried

Aadhar card, pan card, passport, voter id

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

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

Last 6-month bank statement, Form 16, latest ITR, 

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

 

Check other loans and products from YES Bank

YES bank Business loan

YES bank Car loan

Yes bank credit card

Yes bank EMI calculator

Process to apply for YES Bank car loan

There are two ways to get a car loan with YES BANK i.e. online application and in-branch application

The process to apply online

  • Initially visit yes bank official website

  • At the home page click on go to “Personal Banking” section

  • Now go to on “Individual” section and then click on “loans”

  • Select the “Car loan”

  • Click on apply now and complete the application form carefully

  • Attached all mandatory documents with the application form and submit it

  • Now wait for few minutes and you will notify soon whether you are eligible for loan or not

Other Banks Car loan

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SBI Combo Loan Scheme

SBI Pre-Owned Car Loan

SBI Loyalty Car Loan Scheme

HDFC Bank New Car Loan

HDFC Bank Used car loan

HDFC Bank Loan Against Car

Kotak Mahindra Bank Car Loan

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ICICI Bank Car Loan

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Last Updated on : 15/Jun/2020

Know More How To Apply ??

Know More About

Yes Bank Car Loan

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

Yes Bank Car Loan Interest Rates

Updated on 25 Nov 2017

Yes Bank Car Loan Details
Interest Rate (Monthly reducing balance) 10.25% - 12.75%
Processing Fees 1% of the loan amount
Loan Tenure 1 year to 7 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Car Loans EMI Calculator

Loan Amount

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

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

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


Your Monthly Loan EMI


₹24,959