Yes Bank Loan Against Property EMI, Interest Rates, Processing Fees

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YES BANK LOAN AGAINST PROPERTY

Yes Bank Loan Against Property Details

YES Bank is a full service commercial bank that offers corporate banking, investment banking and personal banking services across India. It is an Indian private sector bank headquartered in Mumbai, India and was founded by Rana Kapoor and Ashok Kapoor in 2004. It offers a wide range of banking and financial products for corporate and retail customers through retail banking and asset management services. 

Everyone wants a home to live happily with family. Most people can’t afford a house and they have to live in other houses or apartments by paying the rents. If a person has good earning but he/she also can’t get enough to make a house with that income. So, for that issue, many banks provide loans for property to lend you a helping hand so that you can have your dream home where you can live happily with your family. The loan is called loan against property or LAP. Unlock the value of your property with Yes Bank’s Loan Against Property. Yes Bank Loan Against Property can be used to fulfill your business, professional or personal requirements. You can avail loan against Residential, Commercial, School, Industrial, Warehouse properties & for Purchase of Commercial Property for a tenure of up to 15 years.

Benefits of Loan Against Property 

1. It can be used for personal as well as commercial needs

2. Balance transfer of your prevailing loan with top up facility

3. Dropline Overdraft facility

4. Highest loan amount upto Rs.10 crore

5. Hassle free application process

6. Simple and minimal documentation 

7. No restriction on the utilisation of loaned amount

8. Competitive rate of interest starts at 10.50% per annum

9. Residential and commercial properties whether self occupied, rented or vacant are occupied as collateral

10. Availability of door step services

Fee and Charges of Loan Against Property 

To apply for a loan against property you have to pay fees and charges applied by the YES  Bank. It covers all charges and fees made by a bank to their customers.The following charges are taken from YES Bank i.e processing fee, late payments of EMIs, cheque dishonour charges, prepayment / foreclosure charges etc.

TYPE 

CHARGES 

Loan Processing Charges (Non-Refundable)

Up to 2% of the loan amount ( subject to a minimum of Rs. 10,000)

Login Fees (Non-Refundable

Up-to a maximum of INR 10,000/

Part-prepayment Charges

For individual borrowers: Nil

For others:

  • No part-prepayment allowed for first 12 months from the date of loan disbursal

  • Post 12 months, prepayment of up to 20% of the outstanding loan amount: Nil

  • Prepayment of more than 20%: 4% of the amount being repaid

Foreclosure Charges

For individual borrowers: Nil

For others:

  • Foreclosure not allowed for first 12 months from the date of loan disbursal

  • Post 12 months, foreclosure charges at 4% of the outstanding principal amount

Conversion/Switch Fees

0.5% of the outstanding principal amount

Late Payment Charges

2% per month on the overdue amount

EMI Cycle Date Change

Rs. 500 per instance

Cheque Bounce/Return Charges

Rs. 750

Loan Cancellation Charges

Rs. 5,000 per instance

Cheque Swap Charges

Rs. 500 per instance

Eligibility Criteria for Loan Against Property 

Before applying for a loan against property from YES Bank, you should fulfil all basic eligibility criteria as prescribed by the bank. For the YES Bank Loan Against Property application the salaried and self employed are eligible to take a loan. You will get your loan amount very soon if you meet all the required eligibility criteria once the documentation is done.

  1. For Salaried Employees 

  • Applicants must have a minimum annual income of INR 3 lakhs.

  • Where income is considered for eligibility : Minimum 23 years at loan origination & Maximum 65 years or age of retirement whichever is less at loan maturity.

  • Where income is not considered for eligibility : Minimum 18 years at loan origination & Maximum 70 years at loan application or 85 years at loan maturity

  • Minimum 3 years of total employment.

  1. For Self-Employed Individuals 

  • Minimum cash profit should be INR 4 lakhs per annum.

  • Minimum turnover is set at INR 15 lakhs per annum for service providers/commission income; INR 10 lakhs per annum for doctors; INR 60 lakhs for non-service providers.

  • Where income is considered for eligibility : Minimum 23 years at loan origination & Maximum 65 years or age of retirement whichever is less at loan maturity

  • Where income is not considered for eligibility : Minimum 18 years at loan origination & Maximum 70 years at loan application or 85 years at loan maturity

  • A minimum of 3 years into the current profession/business.

Documents Required for YES Bank Loan Against Property 

Any applicant who is going to avail a loan against property from YES Bank must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.

1. Filled Application Form

2. PAN Card

3. Proof of Identity : Passport, Aadhaar Card, Driving License, Voter ID, Government Employee ID

4. Proof of Address : Aadhaar Card, Driving License, Voter ID, Government Employee ID, Electricity bill, Gas bill, Telephone bill, Property tax receipt

5. Date of Birth Proof : Passport, Driving License, PAN Card, Birth Certificate, Aadhaar Card with DOB, SSC Marksheet

6. Signature Proof : Passport, PAN Card, Bankers verification or Notarized affidavit with ID & Address Proof

  1. Proof of Income for Salaried:

    1. 3 months’ pay slip or 6 months’ pay slip/2 yrs. bonus proof)

    2. 6 months bank statement showing salary credits

    3. 2 years Form 16 or Employment Continuity Proof

  2. Proof of Income for Salaried NRIs:

    1. 3 month pay slip

    2. Appointment letter/contract letter

    3. Continuous Discharge Certificate for Shipping cases

    4. 6 month Domestic NRE/NRO a/c statement

    5. 6 month international salary a/c statement

    6. Overseas credit report

    7. Valid visa copy/OCI card

    8. Passport copy

    9. POA details

  3. Proof of Income for Self Employed:

    1. 2 yrs ITR, Computation of Income, P&L, Balance sheet with CA seal and sign

    2. For Asha HL – 1 yr ITR, Computation of Income, P&L, Balance sheet with CA seal and sign

    3. Tax Audit Report (If Gross Turnover Exceeds Rs 1 Cr or Gross Receipts Exceeds 25 Lac)

    4. 6 months bank statements of personal and business accounts

    5. If ITR is filed without digital sign – CPC and tax paid challan

    6. Business continuity proof (3 yrs for HL / 5 yrs for LAP)

  4. Other Important Documents & Checks:

    1. Aadhaar card is mandatory for Credit Linked Subsidy Scheme (PMAY) applicants

    2. PAN card is mandatory for all financial applicants

    3. Processing Fee and CERSEI cheques

    4. Self-attestation of borrowers on all documents submitted

Compare other bank loan against property interest rate 

BANKS

INTEREST RATE 

AXIS Bank Loan Against Property

Starts at 11.25% 

AXIS Bank Lease Rental Discounting 

Starts at 11% 

AXIS Bank Overdraft Facility Against Property

Starts at 11%

AXIS Bank Reverse Mortgage Loan

Starts at 11%

SBI Bank Loan Against Property

Starts at 10.85%

YES Bank Loan Against Property 

Starts at 10.50%

IDBI Bank Loan Against Property

Starts at 11.25%

RBL Bank Loan Against Property 

10.65% to 16.25%

HSBC Bank Loan Against Property 

Starts at 8.60%

HSBC Bank Smart Loan Against Property 

Starts at 8.75%

Indusind Bank Loan Against Property 

9.50% to 13.50%

Other products of YES Bank 

1. YES Bank Car Loan 

2. YES Bank Business Loan 

3. YES Bank Home Loan 

4. YES Bank Loan Against Property

How to Apply for YES Bank Loan Against Property 

There are two ways to apply for loans against property from YES Bank :

1. Offline Method : By visiting nearest bank branch

2. Online Method :

  • Firstly visit lenders website from which you want to get a loan

  • Fill the application form and read all the term and conditions

  • Attach all required documents with an application form

  • After submitting form lenders will let you know that you eligible or not for the loan 

YES Bank Loan Against Property Customer Care

Contact number : 18001200 toll free number 

Email id : yestouch@yesbank.in

How to calculate EMI of YES Bank Loan Against Property

The following mathematical formula is used to calculate EMI of YES Bank Loan Against Property is :

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

In this formula,

EMI - Equated Monthly Instalment

P - Principal amount (amount borrowed as loan)

R – Applicable rate of interest (interest rate should be on a monthly basis)

N - Loan tenure or the number of EMIs to be paid (tenure should be in months

Financials products offered by Bank 

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

YES Bank Loan Against Property Frequently Asked Questions 

1. What is the minimum and maximum loan amount provided by YES Bank for loan against property?

The minimum loan amount is Rs.15 lakh and maximum loan amount is Rs.10 crore provided by YES Bank for loan against property.

2. How much interest rate is provided by YES Bank for loan against property?

The interest rate is starts from 10.50% onwards provided by YES Bank for loan against property

3. Is age an important factor to take a loan against property from YES Bank?

Yes, age is an important factor to take a loan against property from YES Bank. The minimum age of the customer is 18 years and maximum age of the customer is 85 years.

4. How to contact YES Bank?

You can contact through customer care number and customer care email id for YES Bank.

5. What is the processing fee charged by YES Bank for loan against property?

The processing fee charged in YES Bank for loan against property is Up to 2% of the loan amount ( subject to a minimum of Rs. 10,000).

6. What are the late payment charges on the overdue installments of YES Bank for loan against property?

The late payment charges or penal interest is 24% per annum i.e. 2% per month on the overdue installment charges of YES Bank for loan against property..

7. How can I apply for a loan against property from Yes Bank?

You can apply offline by visiting the nearest bank branch or through online for loan against property from YES Bank.

Last Updated on : 30/Aug/2020

Know More About

Yes Bank Loan Against Property

You're eligible for a Yes Bank Loan Against Property 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 Loans Against Properties 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 Loan Against Property Interest Rates

Updated on 25 Nov 2017

Yes Bank Loan Against Property Details
Interest Rate (Monthly reducing balance) 10.5% - 0%
Processing Fees Up to 2% of the loan amount ( subject to a minimum of Rs. 10,000)
Loan Tenure 1 year to 15 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Loans Against Properties 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