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YES BANK HOME LOAN

If you are walking down the street of best home loan options then take a pause and check out the range of home loans products designed by Yes bank. When it comes to a dream house, arranging finances holds the potential to make your goals look out of your reach. But here is the Yes bank home loan for you that offers housing loans at competitive rates for a repayment tenure that could not be more flexible. Yes bank housing loans come adorned with facilities including PMAY and top up which makes choosing the most suitable home loan easier. 

Yes Bank Housing Loan Highlights

Loan Amount

Ranges from Rs 10  lakh to Rs 5 Crore

Interest Charges

Starts at 8.95% per annum and goes up to 11.80%

Processing Fees

Up to 2% of the loan amount (or Rs 10000)

Tenure

Up to 30 years

Prepayment

NIL

Yes Bank Home: features & Benefits

Here we have listed down everything, from home loan schemes to interest rates, that you have to know about the Yes bank housing loan before you take a step ahead.

Here are the features of Yes bank home loan:

Multiple Home Loan Options : Yes bank has a list of home loan options available that is prepared right for the needs and requirements of different borrowers. Whatever purpose it is that you have regarding your dream home, Yes bank brings different home loans that have everything checked. Here are different Yes bank home loan options that you can go for:

  • Home loan for purchase of a new house
  • Home construction loan
  • Home extension/repair loan
  • Home improvement loan
  • Home renovation loan
  • Balance transfer
  • Top up loan

Loan Amount : Yes bank home loan amount starts at Rs 10 lacs and it ranges up to Rs 5 crore. There are tons of factors that help decide the loan amount you will be availed. First things first, it is up to your requirement which includes, of course, the value of property. Then come many other factors such as your repayment history, credit score etc. that help the lender decide the loan amount.

Interest Rates : Yes bank home loan interest rates start at 8.95% per annum and range up to 11.80%. Know that home loan interest rates are subject to various factors like your credit score, loan repayment period, loan amount etc. 

Repayment Tenure : When it comes to Yes bank home loan repayment tenure, you can expect a comfortable time span. The lender provides home loans for a repayment period ranging up to 35 years and you can opt for the tenure that goes best with your repayment plan.

Balance Transfer : Balance transfer is a helpful facility by Yes bank which allows you to save yourself from high interest rates on your existing home loan. Yes bank home loan balance transfer enables you to move your home loan amount to the Yes bank home loan at lower rate of interest. 

PMAY  : Yes bank home loan features Pradhan Mantri Awas Yojana-Credit Linked Subsidy Scheme, an initiative of government, that allows the economically challenged groups of individuals to avail affordable housing loans. 

The scheme allows economically weaker groups, middle income groups and low income groups to get home loans of up to 12 lacs and enjoy interest subsidy of up to 6.5% . Yes bank PMAY home loans are offered for tenure up to 20 years.

Prepayment : Why continue monthly installments when you have sufficient funds to repay your Yes bank home loan and close the loan quickly? Yes bank housing loans offer borrowers to make prepayment and foreclose the loan which is a good way to stop paying interest rates.

Now it comes to the Yes bank home loan foreclosure charges. Know that the leader does not charge any prepayment penalty for floating rates of interest. Borrowers are charged a prepayment/part-prepayment penalty of up to 4% of outstanding balance in case of fixed rates.

YES Bank Home Loan Interest Rates & Charges

TYPE 

CHARGES

Processing fee 

1% of the loan amount or Rs.10000 whichever is higher (GST Additional)

Pre closure charges 

NIL

Part payment charges 

NIL for floating rate loans

2.5% on the principal amount on fixed rate loans

Late payment fee / Penal interest 

24% per annum i.e. 2% p.m. on the overdue installments

Additional interest 

2% p.a. Over and above the applicable interest rate of the loan outstanding 

Cheque swapping charge / Repayment mode

Rs.500

Cheque bounce / Return 

Rs.75 per instance 

Statement of account / Amortisation schedule (Physical mode of branch)

Rs.100 per request

Prepayment statement charges 

Rs.100 per request 

Duplicate no objection certificate 

Rs.100 per request 

Loan cancellation / Rebooking (Additionally stamping norms as per actually if applicable)

Rs.2000

Legal, Incidental charges

At actuals 

Document Retrieval charges 

Rs.500

EMI cycle date charges 

Rs.500

Yes Bank Home Loan Eligibility Criteria

You have to make sure that you meet the Yes bank home loan eligibility requirements that are designed by the lender to determine whether you qualify for this loan or not. Your age, employment history, income and other factors help the lender gauge if you fall into the realm of eligibility for Yes bank home loan. Thus, it is best that you go through the checkpoints and see if there’s anything that you are missing.

Here are the Yes bank housing loan eligibility requirements that you should pass:

  • Applicants should be salaried or self employed.
  • Applicants should be at least 23 years old to qualify for Yes bank home loan. 
  • Applicants should not be above 60 years of age at the time of loan maturity.
  • A minimum business experience of 2 years is required for self employed individuals.
  • A minimum work experience of 2 years is required for salaried  individuals.
  • Minimum net monthly income of salaried individuals should be Rs 250000.
  • Minimum income of self employed individuals should be Rs 4 lacs per annum. 

Yes Bank Home Loan Documents Required

When applying for a Yes bank housing finance loan, you are required to submit documents in order to proceed with the Yes bank home loan application. You must ensure you have all the Yes bank home loan required documents. 

Here are the Yes bank home loan documents that you will be required to submit with home 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, Any Other Documents Required by the Bank

Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank

Compare other bank home loan interest rates:

BANKS 

INTEREST RATE

AXIS Bank Home Loan

7.75% to 9.40%

SBI Regular Home Loan

6.95% onwards 

HDFC Bank Home Loan

6.95% to 7.50%

Kotak Mahindra Bank Home Loan

7.40% to 9.70%

Yes Bank Home Loan

9.60% to 10.55%

Citi Bank Home Loan

7.34% to 8.29%

ICICI Bank Home Loan

6.95% to 8.05%

Standard Chartered Bank Home Loan

Starting at 8.71%

IDBI Bank Home Loan

7.80% to 8.80%

RBL Bank Home Loan

9.75% to 10.05%

HSBC Bank Home Loan

8.55% to 8.655

IndusInd Bank Home Loan

8.00% to 15.00%

Bank of Baroda Home Loan

6.85% to 7.75%

Bank of India Home Loan

6.85% to 7.755

Canara Bank Home Loan

6.90% to 8.90%

Indian Bank Home Loan

7.55% to 8.40%

Punjab National Bank Home Loan

Starting at 7.00%

How to Calculator EMI of YES Bank Home Loan

The basic formula is apply to calculate the EMI of Yes Bank Home loan :

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

Where,

  • P stands for Loan Amount
  • R stands for Interest Rate
  • N stands for tenure in number of months 

How to Apply for Yes Bank Home Loan

Here is how you can apply for Yes bank home loan:

Apply for Yes bank home loan offline

To apply for a Yes bank home loan offline, you need to visit the nearest branch of Yes bank. When visiting the branch, you must have all the necessary documents that you will be required to present to proceed the application. 

Apply for Yes bank home loan online

Follow the steps mentioned below in order to apply for Yes bank home loan online:

  • Go to the official website of Yes bank.
  • Click and expand the “Personal Banking” menu.
  • Find and click on the “Loans” section.
  • Now that you are on the Yes bank loans page, find and hit the “Home Loans” product.
  • Move to the “How to Apply for a Home Loan at Yes Bank” section and click on the online form option. 
  • Now you have to fill out the Yes bank home loan application form that appears on the screen.
  • Once you have entered the details, click the “Click 2 Apply” button. 

Yes Bank Home Lloan Customer Care Number

Solutions to your query, grievances or complaints related to the Yes bank home loans are just one call away. If you need any assistance with the Yes bank home loan or have any enquiry to make, then you can contact the bank using the following Yes bank customer care number:

  • Contact Number - 1800-419-1717
  • Email id - yestouch@yesbank.in

Other products of YES Bank:

1. YES Bank Car Loan

2. YES Bank Business Loan

4. YES Bank Loan Against Property

FAQs On Yes Bank Home Loan

Q.1 What are the interest rates on Yes bank home loans?

The Yes bank home loan interest rates range from 8.95% TO 11.80%. 

Q.2 What purposes can I avail Yes bank home loan for?

You can avail Yes bank home loan for construction, renovation, extension and repairs. You can also contact Yes bank for Yes bank home loan balance transfer facility. 

Q.3 What are the Yes bank home loan prepayment charges?

There are no foreclosure charges in case of prepayment/ part-prepayment of home loans at floating rate. If you make prepayment/ part-prepayment during a fixed interest rate period, the lender charges a prepayment penalty of 4% of principal outstanding. 

Q.4 What are the late payment charges for Yes bank home loan?

If you default the payment of Yes bank of home loan EMIs, the lender will charge a late payment fee of 24% per annum (2% per month). 

Q.5 What is the processing fee for Yes bank home loan?

The processing fee for Yes bank home loan is up to 2% (or Rs 10,000) of the loan amount plus applicable taxes.

Last Updated on : 06/Apr/2021

Know More About

Yes Bank Home Loan

You're eligible for a Yes Bank Home 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 Home 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 Home Loan Interest Rates

Updated on 25 Nov 2017

Yes Bank Home Loan Details
Interest Rate (Monthly reducing balance) 9.6% - 10.55%
Processing Fees 1% of the loan amount or Rs.10000 whichever is higher (GST additional)
Loan Tenure 1 year to 35 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Home 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