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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
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

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

  • 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)


Q: What is the age limit to avail YES BANK car loan?

A: The age limit is based on the applicant profile.

  • For salaried applicants, the minimum age is 21 years and the maximum 58 years.
  • For self-employed applicants, the minimum age is 21 years required and the maximum age is 65 years.
  • The age is not applicable for partnership firms and private limited companies.

Q: How much credit score is required for the YES BANK car loan?

A: Credit score will play a major role while applying for a car loan.

The applicant should share his credit score details with the bank by mentioning the same in the application form. The acceptable credit score is 750 and above. Under certain conditions, the banks may accept scores as low as 550 points.

Q: How I can repay my car loan in YES BANK?

A: YES BANK provides three types of payment methods as follows:

  • Standing Instructions (SI):- If you maintain a bank account with Yes Bank, you can set standing instructions (SI). YES BANK will debit the set amount from your bank account on the EMI basis on a particular due date.
  • Electronic Clearing Service (ECS):- You can use the Electronic Clearing Service (ECS) which authorises Yes Bank to automatically debit from your other bank account to make payments towards your car loan.
  • Post dated cheques:- You can also pay via post-dated cheque where ECS and SI facility is not available.

Q: What are the additional documents required after car loan approved in YES BANK?

A: The following documents are needed to submit after the loan is approved and before it is disbursed.

  • The loan agreement which has been signed with RTO.
  • Margin Money receipt
  • Repayment forms - Post-dated cheques, ECS form, Standing instructions form with post-dated cheques.

Q: Are there any charges for late payment for YES BANK car loan?

A: Yes, The bank might charge a penalty for the prepayment. This penalty is usually charged at a rate of 2% on your loan amount.

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