Yes bank loan against property brings you the chance to unleash the value of your property and raise funds out of it. In this Yes bank loan, you can get financial help by providing your residential or commercial property as collateral to the bank. The bank allows you to enjoy the loan amount of up to 10 crore for a repayment tenure of up to 15 years. The bank offers a maximum LTV of up to 85%. Read on to find more about the Yes bank LAP.
|
Loan Amount |
Up to Rs 10 crore |
|
Interest Charges |
As per the bank’s discretion |
|
Processing Fees |
0.50% of the loan amount plus applicable taxes |
|
Tenure |
Up to 15 years |
|
Prepayment Charges |
4% of the loan amount |
From loan amount to balance transfer facility, here are the prominent features of this loan that you should know before applying:
Yes bank loan against property are offered to help individuals meet their financial requirements for business/personal needs. You get the loan by offering your residential or commercial property as security to the bank.
The bank offers a maximum loan to value of 85% on residential properties and 75% on commercial properties. You can avail the maximum Yes bank loan against property of up to Rs 10 crore. The loan amount limit is also finalised upon multiple parameters including your income, repayment track etc.
Yes bank loan against property interest rates are subject to RBI guidelines. Besides that, the rates are also affected by applicant’s eligibility profile and not to mention, the loan repayment tenure.
Yes bank LAP repayment tenure offered remains up to 15 years.
The lender gives you the privilege of transferring your existing loan from another lender to the Yes bank loan which is helpful when you want to move the loan from a high interest rate to a lower interest rate. You can reach out to the bank for a Yes bank loan balance transfer facility and learn about the terms and conditions.
The bank enables loan borrowers to make foreclosure and part prepayment of the loan, provided that they have completed 12 instalments of loan. Here are the charges that are levied by the bank:
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:
|
|
Foreclosure Charges |
For individual borrowers: Nil For others:
|
|
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 |
Salaried, self employed individuals and professionals are eligible for this Yes bank loan. Apart from that, you have to meet the following Yes bank LAP eligibility requirements in order to qualify for the loan seamlessly:
| Salaried Individuals |
|
| Self Employed Individuals/ Professionals |
|
Here are the Yes bank LAP documents that you will be required to submit at the time of loan application:
|
Documents |
Salaried Individuals |
Self Employed Individuals |
|
Identity Proof |
Aadhar Card, Passport, Driving Licence, Voter ID Card |
Aadhar Card, Passport, Driving Licence, Voter ID Card |
|
Address Proof |
Passport, Voter ID Card, Recent Utility Bill such as Electricity Bill, Water Bill, Telephone Bill |
Passport, Voter ID Card, Recent Utility Bill such as Electricity Bill, Water Bill, Telephone Bill |
|
Income Proof |
Salary Slips, Bank Statement, Form 16, Salary Certificate |
IT returns, Bank Statements, Balance Sheet and Profit & Loss Account, Challans Showing Payment of Advance Income Tax |
|
Other Documents |
Passport-size Photographs, Application Form |
Passport-size Photographs, Application Form |
|
BANKS |
INTEREST RATE |
|
Starts at 11.25% |
|
|
Starts at 10.85% |
|
|
Starts at 11.25% |
|
|
10.65% to 16.25% |
|
|
Starts at 8.60% |
|
| ICICI Loan Against Property |
Start at 8.75% |
|
9.50% to 13.50% |
Yes Bank LAP EMI calculator is a tool to count on when you want to know the monthly expense of your loan. All it takes is you to enter the loan amount, interest rate and tenure. You can use this calculator on the official website of the bank to find the payable amount and manage your budget accordingly.
You can use the BankSathi loan against property calculator to calculate the amount to be paid for your loan monthly instalments. In the calculator, you have to enter the amount of loan along with the years of tenure and applicable rate. Click “Calculate”.
This calculator is simple and fast to use. Once you enter the details, it gives you the detailed calculation of yearly and monthly cost of your loan.
Here is what you can do to apply for Yes bank loan against property:
You need to navigate to the nearest branch of Yes bank in order to apply for Yes bank LAP offline. When going to the bank, it is advised that you carry all the documents that you will be required to submit for the loan application.
Here is how to apply for Yes bank LAP online:
After you submit your Yes bank loan against property the bank, the bank representative will reach out to you for the next step regarding the loan.
For more assistance with the Yes bank loan against property, you can contact the customer support of the bank.
Here is the Yes bank loan customer care number: 1800 1200
The bank charges a late payment fee of 2%.
The bank offers a maximum loan to value of 85% on residential properties and 75% on commercial properties.
The maximum amount you can avail on Yes bank loan against property is Rs 10 crore.
Salaried individuals should have a minimum annual income of at least Rs 3 lacs to be eligible for the loan.
Here is the Yes bank loan against property eligibility criteria for self employed individuals:
Know More About
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
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