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Yes Bank Car Loan

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. 

Yes Bank Car Loan Highlights

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

Yes Bank Car Loan Features

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:

  • For prepayment within 7 months to 12 months: 6% of outstanding principal amount
  • For prepayment within 13 months to 24 months: 5% of outstanding principal amount
  • For prepayment after 24 months: 3% of outstanding principal amount

Yes Bank Car Loan Fees & Charges

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

Yes Bank Car Loan Eligibility

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:

  • Indian residents can apply for a Yes bank car loan. 
  • Salaried individuals and self employed individuals can apply for this loan.
  • Businessmen and partnership firms can also apply.
  • Minimum age of Loan applicants must be at least 21 years when applying for car loan. 
  • Maximum age of individuals should not exceed 58 years at the time of completion of loan period.
  • Individuals have to show the proof of residence stability. 
  • Individuals must have all the necessary documents. 

Documents Required for Yes Bank 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

AXIS Bank New Car Loan

9.05% to 11.30%

SBI New Car Loan Scheme

8.00% to 10.75%

HDFC Bank Car Loan

8.80% to 10.50%

Kotak Mahindra Bank Car Loan

8.00% to 24%

RBL Bank Car Loan

Start at 12%

ICICI Bank Car Loan

9.30% to 12.85%

IDBI Bank Car Loan

9.30% to 9.90%

PNB Bank Car Loan

Starts at 7.55%

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%

How to Apply for Yes Bank Car Loan?

You can apply for a Kotak Mahindra car loan either offline or online. Here is how you can apply:

  • Apply for a Yes bank car loan offline

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. 

  • Apply for a Yes bank car loan online

Here is how to apply for Yes bank car loan application online:

  • Go to the official website of Yes bank.
  • Click and expand the “Personal Banking” menu.
  • After that, click on the “Individual” menu and select the “Loans” option. 
  • Find and click the “Car Loan” product.
  • Fill out the form that appears on the next page. 
  • Now that you entered the required details including your mobile number and city, you need to hit the “Submit” button. 

Yes Bank Car oan Customer Care

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 

Q.1 Can I prepay my 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. 

Q.2 How can I apply for a Yes bank car loan?

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. 

Q.3 What is the loan amount provided by Yes bank for car loans?

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/2021

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