Yes Bank Business Loan
Yes Bank Business Loan is financial support to self-employed business professionals who are in need of funds for their business purpose. With Yes Bank Business Loan, you can expand your existing business, set up a new business venture, purchase new equipment or machinery and what not. You do not have to put any collateral to secure the funds which mean Yes Bank offers Yes Bank Unsecured Business Loan. Moreover, Yes Bank Business Loan interest rate is quite affordable. Yes Bank Business Loan documents are very minimum which is very minimum. When you opt for Yes Bank Business Loan apply online, you need to fulfill Yes Bank Business Loan eligibility criteria. Good repaying capacity with CIBIL score of 750 or more helps you to avail Yes Bank Business Loan interest rate at a highly attractive rate. To provide funds to small or medium enterprise, Yes Bank Business Loans are offered which are tailor-made to suit the various business needs.
Why would you choose Yes Bank Business Loan
Yes Bank Business Loan ensures business growth by providing the fund at the time of your need in an easy and simplified manner. Satisfying Yes Bank Business Loan eligibility, you can avail Yes Bank Business Loan up to Rs. 50 lakhs. Based on your CIBIL score and other criteria, Yes Bank Business Loan rate of interest is set which is quite affordable. Yes Bank SME Loan is a wonderful financial product of Yes Bank which supports the small and medium-sized enterprises. The process of repayment for Yes Bank Business Loan is user-friendly. You can repay Yes Bank Business Loan through EMI with flexible loan tenure ranging up to 60 months. Here are some of the crucial points focusing on why would you choose Yes Bank Business Loan-
- You do not have to put any security to pledge the funds when availing Yes Bank Unsecured Business Loan.
- Not only the big business venture but small business enterprises are also financially supported by Yes Bank SME Loan.
- Yes Bank Business Loan rate of interest is quite affordable which reduces your EMI payments at the time of your repayment.
- You can avail Yes Bank Business Loan amount up to Rs. 50 lakhs which gets easily disbursed to your bank a/c.
- Yes Bank Business Loan documents requirement is very minimal. So, you have to undergo simple paperwork when applying for Yes Bank Business Loan.
- Starting from working capital requirement to machinery purchase, setting up new business to expanding the existing one, you can use Yes Bank Unsecured Business Loan for ‘n’ number of reasons.
- You can repay Yes Bank Business Loan within a period of 12 months to 60 months.
- Based on Yes Bank Business Loan eligibility, the range of Yes Bank Business Loan interest rate is set which is quite competitive.
Types of Yes Bank SME Loans
Small or medium-sized enterprises needs of funds are perfectly satisfied by Yes Bank SME Loans which are of various kinds explained below-
This particular scheme is appropriate for the business that are involved in manufacturing, trading, and services. Under Yes Samriddhi, you get loan based on turnover based lending approach with flexible collateral submission. You can avail maximum loan up to Rs. 4 crore or Non DP linked OD up to Rs. 2 crores.
Yes Bank SME Loans offer Smart Overdraft facility to small or medium enterprises that are engaged in manufacturing and trading business. Also, doctors, architects, CA can opt Smart Overdraft facility where the balance sheet is not required. The assessment of credit is dependent on your banking transactions and your promised collateral. You can avail Yes Bank SME loan up to Rs. 1 crore.
For the manufacturing or trading sectors, Yes Suyog scheme offers flexible collateral with preferential pricing based on high scores. Under this segmentation of Yes Bank SME Loan, you get to enjoy an appraisal based on the score card with a maximum loan amount up to Rs. 2 crores.
With Yes GST scheme under Yes Bank SME Loans, MSME enterprises are offered funds with ease up to Rs. 1 crore. To avail this loan, you only need GSTR returns to assess the turnover without any complicated financial statements or balance sheet. The maximum loan amount is financed based on OD or Drop Line OD facility.
This particular classification of Yes Bank SME Loans provides fund to dealers of corporate serving both forward and backward supply chain linkages. You can prepay or part pay the loan with ease. The loan amount is quickly transacted and you can withdraw from your deposit which can be as low as Rs. 1.
Cash Backed Lending Program
Yes Bank SME Loan offers easy financing for the SME and MSME enterprises. For the domestic business, the margin amount is 100% of the letter of credit, bank guarantee, and buyers credit. You can easily avail non-fund based credit which gets requires simple paperwork and gets easily processed.
Yes Bank Business Loan for Women
To enhance women empowerment, Yes Bank Business Loan for women has been initiated which is completely unsecured in nature. Under Yes Livelihood Enhancement Action Program, many joint liability or self-help groups are offered with micro credit to fund their business ventures. Almost 20 lakhs women are financially supported by Yes Bank Business Loan for women.
Yes Bank Business Loan Eligibility Criteria
To obtain Yes Bank Business Loan, you need to satisfy Yes Bank Business Loan eligibility. The range of Yes Bank Business Loan interest rate depends on Yes Bank Business Loan eligibility criteria. Following are the Yes Bank Business Loan eligibility in a tabular format-
|Minimum Turnover||Rs. 1 crore and more|
|Business Eligibility||Self-employed Non-Professionals- Public & Private ltd. companies, Partnership firms, Sole proprietors, etc. Self-employed Professionals- CA, CS,Doctor, Architect, etc.|
|CIBIL score||750 or more|
|Loan Amount||Up to Rs. 50 lakhs|
|Business Continuity||Self-employed non-professionals- 3 years to 5 years Self-employed professionals- 3 years|
|Loan Tenure||5 years for self-employed professionals 3 years for self-employed non-professionals|
Yes Bank Business Loan Document Requirements
Yes Bank Business Loan requires very minimum documentation. Here are the Yes Bank Business Loan documents which you need to submit are-
- Loan Application form
- PAN card for Company/Firm/Individual
- Passport Photographs
- Copy of Audited Balance Sheet and Profit & Loss statement of the last 2 years.
- ID proof- AADHAAR card, Passport, PAN card.
- Business continuity proof- Sales Tax Certificate/Trade License/Establishment/ITR.
- Updated Bank a/c Statement of the last 6 months
- Mandatory documents- Memorandum and Articles of Association/Partnership Deed.
- Address proof- AADHAAR card, Passport, Voter ID card, Driving License.
Yes Bank Business Loan Interest Rate & Charges
|Interest Rate||16%* onwards|
|Preclosure Charges||Up to 4% (prepayment is allowed post 12 EMIs payment)|
|Processing Fees||Up to 2%+applicable tax|
*interest rate value varies from time to time