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YES BANK Car Loan

Loan Name Interest Rate Processing Fee Loan Amount Tenure
Yes Bank Car Loan 10.25% - 12.25%, Fixed 1% of loan amount or Rs 10,000 (whichever is lower) Maximum Rs 500 Lakhs 1-7 Years
Details
Documents Required

  • Duly filled in and signed application form along with recent passport sized photographs
  • Identification Proof with photograph and signature: Driving Licence, Passport, PAN Card, Aadhaar Card
  • Proof of Income: IT Return, Form 16, Bank account statement, Salary slips for last 3 months
  • Pro-forma bill from the seller to determine the value of the vehicle
  • Post-approval: Loan agreement duly signed with RTO set
  • For standard security purpose, ECS form/ Post dated cheques as applicable
Benefits

  • Guaranteed Service
  • Faster Processing of loan procedure
  • Easy Documentation
Eligibility

  • Minimum age of the applicant should be 21 years
  • The maximum age of the applicant should not exceed 58 years (before the completion of loan tenure)
  • One should produce proof of residential stability: Proof of Residence is required to authenticate whether the applicant is living in an own house or parental owned house or rented accommodation.
  • The applicant should be a salaried employee or partnership firm or self-employed individuals or businessmen who are income tax assesses.
  • Proof of Profession: Letter from Employer in case of a salaried individual or official identity card, documents related to the business entity, partnership firm, corporates
Other Details

  • The car loan from YES Bank ranges between Rs 1,00,000 – Rs 500 lakhs
  • The applicant can avail car loan up to 100% of loan amount (on-road price) for select models of vehicles
  • The borrower has multiple repayment options for repaying a car loan
  • Get spot approval on a car loan
  • Processing fee for a new car is up to 1% of loan amount or Rs 10,000 (whichever is lower)
  • In case of a used car, the processing fee is 2% of loan amount or Rs 6,000 (whichever is lower)

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