Why You Should Go For Yes Bank Home Loan?

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Upto 40 Lacs* @ 10.99%* P.A

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Salary should be Minimum Rs.15,000!

Salary should be Maximum Rs.10 Crore!

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Minimum Turnover Should Be Rs. 3Lakhs!

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Minimum Loan amount is Rs.15,000 !

Maximum Loan amount is Rs. 75 Lakhs!

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It is always a dream to buy your own house. To make this dream a reality, you need to have financial back up which can be attained from YES Bank Home Loan. YES Bank Home Loan involves easy approval process, minimum documentation, and competitive interest rates. YES Bank offer its customers a wide variety of home loans to fulfil their requirements. A network of more than 1000 branches are operated by YES Bank. 

Features of YES Bank Home Loan 

  1. YES Bank provides Home Loan at a competitive interest.
  2. Both Salaried, as well as Self-employed individual, can apply for the home loan.
  3. YES Bank ensures a quick process for loan sanctioning.
  4. The facility of ‘Balance Transfer’ is available. Balance Transfer is a facility where the applicant can transfer his existing high price home loan with a financial institution to YES Bank at low-interest rates.
  5. To assure the safety of the applicant’s property, YES Bank provide Home Protection Plan.
  6. Some of the products of the YES Bank Home Loan are- Home Extension Loan, Home Improvement Loan.
  7. There is a quick loan approval process.
  8. Both salaried and self-employed individuals can apply for YES Bank Home Loan.
  9. To provide safety for the applicant’s property, YES Bank offers Home Loan Protection Plan.
  10.  YES Bank ensures transparent loan process and easy disbursement of loan.

Eligibility Criteria for YES Bank Home Loan 

  • Age– Minimum age of the applicant must be 21 years.
  • Age at loan maturity– For a salaried individual, it is 60 years. For the self-employed individual, it is 65 years.
  • Income– Applicant must have a minimum monthly salary of Rs.25000.
  • Turnover– Minimum turnover for professional like doctors is Rs. 10 lakhs per annum. For the non-professional, it is Rs.15 lakhs per annum.
  • Security– Mortgage of the home or the property you are planning to buy.
  • Professionals- Both salaried and self-employed individuals are eligible.

Documents Required 

Common Documents

  • Duly filled application form.
  • Passport size photographs.
  • ID Proof- AADHAR Card, PAN Card, Driving License.
  • Residence Proof- Any utility bill as in Electricity Bill, Gas Bill, Passport or Registered Rent Agreement.
  • Documents of Property- Latest property tax receipt, Allotment letter, Conveyance deed, Possession letter, Copy of approved plan for extension/construction.

Specific for Salaried

  • Income proof- Salary Slip for the last 6 months.
  • Bank Statement- Last 6 months updated bank statement.
  • Copy of ITR of last 2 years.

Specific for Self-Employed

  • Bank Documents- Last 6 months updated bank statement.
  • Proof of Business- Profit and Loss a/c and Balance sheet (CA certified), Registration of Service Tax, For companies- incorporation details.
  • Business Existence proof- Business address proof, Partnership deed for the partnership firm.

Rate of Interest for YES Bank Home Loan 

YES BANK HOME LOAN

Amount Of Loan  Minimum- Rs. 10 lakhs Maximum- Rs. 5 crores
Loan Tenure Minimum- 1 year Maximum- 25 years
Rate Of Interest 9.35%-10.50%
Processing Fees Rs. 10000 or 0.5% of loan amount (whichever is higher)
Pre-closure Charges Nil
CIBIL Score 750
Penalty for late payment 2% per month or 24% per annum on the overdue EMI
Prepayment charges For fixed rate, 2.5% on the principal outstanding.  For flexible rate, the charge is nil
Charges on loan cancellation Rs. 2000 (stamping norms as per actuals/ additionally franking if applicable)

Approval and Disbursal 

YES Bank facilitates transparent processing of loan and quick disbursal mechanism.

Firstly, you need to fill up the loan application form of YES Bank. Then you need to specify your basic details and also your required loan amount. Alongwith the application form, you need to submit all the required documents and 2 passport size photograph. After the  successful submission of your application form, YES Bank professionals will verify the documents. After positive verification of your documents, the loan approval process starts. Then, the bank professional will contact you for the disbursal process. And finally, the loan amount gets credited to your account. 

FAQs 

  1. What is the repayment tenure for the YES Bank Home Loan?

The repayment tenure can be maximum up to 25 years for YES Bank Home Loan.

  1. What is the home loan amount that is sanctioned by YES Bank?

YES Bank sanctions the Home Loan amount depending on the applicant’s profile.

  1. What are the documents required to submit for YES Bank Home Loan ?

Here are the documents which are required to submit for YES Bank Home Loan-

  • Passport size photographs.
  • Duly filled application form.
  • Residence Proof- Any utility bill as in Electricity Bill, Gas Bill, Passport or Registered Rent Agreement.
  • ID Proof- AADHAR Card, PAN Card, Driving License.
  • Documents of Property- Latest property tax receipt, Allotment letter, Conveyance deed, Possession letter, Copy of approved plan for extension/construction.

Specific for Self-Employed Individual

  • Proof of Business- Profit and Loss a/c and Balance sheet (CA certified), Registration of Service Tax, For companies- incorporation details.
  • Bank Documents- Last 6 months updated bank statement.
  • Business Existence proof- Business address proof, Partnership deed for the partnership firm.

Specific for Salaried Individual

  • Income proof- Salary Slip for the last 6 months.
  • Bank Statement- Last 6 months updated bank statement.
  • Copy of ITR of last 2 years.

Enter Loan amount!

Minimum Loan amount is Rs.15,000 !

Maximum Loan amount is Rs. 75 Lakhs!

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Enter Your Monthly Salary!

Salary should be Minimum Rs.15,000!

Salary should be Maximum Rs.10 Crore!

Enter Your Turnover!

Minimum Turnover Should Be Rs. 3Lakhs!

Your Turnover Limit Exceeded!

Proceed
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