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YES BANK CAR LOAN 

ABOUT YES BANK CAR 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 car loan. This loan is also available for both salaried and self employed customers. Most people have a car in their minds which they want to buy for their needs. Some of them can buy it and others can't, some of them go for a low price and average looking cars and some want to buy an expensive and beautiful car. Most people love to buy or we can say that they have a dream to buy a certain expensive car but they can’t, the only reason is budget. Yes Bank offers you the best deals for financing the car of your dreams and provides the best and attractive interest rate with an easy documentation process. Individuals, Proprietorship Firms, Partnership Firms, Public/Pvt. Limited companies can apply for this car loan.

BENEFITS FOR YES BANK CAR LOAN :

1. Attractive interest rates :

The minimum interest rate of YES Bank car loans starts from 9.25%. Basically the rate of interest will be decided by the bank according to the customer age, employment type, overall profile and the most probably Cibil score. So, there will be a very good chance for the customer to get a car loan at an attractive and lower interest rate.

2. Instant loan approval :

Yes Bank provides car loan approval in a very speedy way and instant approval for the customers so they don't have to waste their precious time for loan approval. They can easily get approval for the car loan either online or offline.

3. No guarantor required :

Yes Bank is an unsecured loan that's why it does not require any security and guarantor for car loan.

4. Easy documentation process :

Yes Bank required less and simple documentation for the processing of car loans.The documents submitted by the customers are KYC, address proof and income proof with the loan application form. It is not required to submit so many documents for a car loan. The process of documentation is very simple and easy.

5. Flexible tenure :

Yes Bank car loan offers the best and flexible loan tenure of 1 years to 3 years. The Yes  Bank car loans are taken to meet their sudden needs of the customer for their dream car.

ELIGIBILITY CRITERIA REQUIRED FOR YES BANK CAR LOAN :

ELIGIBLE 

Salaried employee, self employee professionals, Partnership firm and public and private limited company

AGE

For salaried employee : 21 years to 58 years 

For self employed : 21 years to 65 years 

MINIMUM ANNUAL INCOME

For salaried individuals : Rs.1 lakh 

Minimum 1 year work experience in current job

For self employed individuals/partnership firm/private limited company : Rs.2 lakh

Minimum 2 years experience in same business

FEES AND CHARGES OF YES BANK CAR LOAN :

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

DOCUMENTS REQUIRED FOR YES BANK CAR LOAN :

TYPE

Id Proof

Address proof

Income proof

Salaried individuals

Aadhar card, pan card, passport, voter id

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

Last 3 month salary slip, last 6 month bank statement, Form 16 

Self-employed individuals

Aadhar card, pan card, passport, voter id

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

Last 6 month bank statement, Last 2 years ITR

Partnership Firms

Aadhar card, pan card, passport, voter id

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

Last 3 month bank statement, last 2years audited financials, ITR for last 2 years 

Private limited company

Aadhar card, pan card, passport, voter id

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

Last  year's ITR and audited financial statement 

COMPARE OTHER BANK CAR LOAN INTEREST RATE :

BANKS

INTEREST RATE

AXIS Bank New Car Loan

9.05% to 11.30%

AXIS Bank Pre-Owned Car Loan

14.80% to 16.80%

AXIS Bank Loan Against Car

13.99%

AXIS Bank Balance Transfer and Topup Car loan

15.00%

SBI New Car Loan Scheme

8.00% to 10.75%

SBI Combo Loan Scheme

8.70% to 9.20%

SBI Pre-Owned Car Loan

9.75%

SBI Loyalty Car Loan Scheme

8.70% to 9.5%

HDFC Bank New Car Loan

8.80% to 10.50%

HDFC Bank Used car loan

12.75% to 15.30%

HDFC Bank Loan Against Car

13.75% to 16%

Kotak Mahindra Bank Car Loan

8.00% to 24%

Yes Bank Car Loan

9.25%

ICICI Bank Car Loan

9.30% to 12.85%

IDBI Bank Car Loan

9.30% to 9.90%

RBL Bank Car Loan

12% to 14%

IndusInd Bank Car Loan

10.65% to 15.50%

Bank of Baroda Car Loan

8.85%

Bank of India Car Loan

8.95%

Canara Bank Car Loan

7.75% to 10.30%

Indian Bank Car Loan

8.45%

Punjab National Bank Car Loan

8.9% to 9.35%

OTHER PRODUCTS OF YES BANK :

  1. YES Bank Car Loan 

  2. YES Bank Business Loan 

  3. YES Bank Gold Loan

  4. YES Bank EMI Calculator 

HOW TO APPLY FOR YES BANK CAR LOAN :

There are two ways to get a car loan with YES BANK i.e. 

  1. Offline Method : By visiting near Yes bank branch.

  2. Online Method :

  • Initially visit yes bank official website

  • At 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

HOW TO CALCULATE EMI OF YES BANK CAR LOAN :

To calculate the EMI for a Yes Bank car loan, the following formula can be used:

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

P = Principal loan amount

R = Car loan interest rates offered

N = the loan tenure

FINANCIALS PRODUCTS OFFERED BY BANKS :

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

FREQUENTLY ASKED QUESTIONS :

Q.1. What is the maximum limit for Yes Bank car loan?

The maximum limit for Yes Bank car loan is Rs.500 lakh.

Q.2 .How much interest rate is charged by Yes Bank on car loan?

Yes Bank car loan interest rate starts from 9.25%.

Q.3. What is the minimum and maximum tenure of car loan in Yes Bank?

The minimum and maximum tenure of  YES Bank car loans is 1 to 7 years 

Q.4. How much processing fee is charged by Yes Bank on car loan?

Processing fee is charged by Yes bank car loan is upto 1% of the loan amount.

Q.5. Is age an eligibility factor to get a car loan from Yes Bank?

YES, you age must be 21 years to 53 years for salaried employees and 21 years to 65 years for self employed at the time of loan maturity for Yes Bank car loan .

Q.6. How can I apply for a Yes Bank car loan?

Directly visiting the nearest branch or can apply online at their website. 

Last Updated on : 29/Jul/2020

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) 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

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