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YES BANK Home Loan


Loan Name Interest Rate Processing Fee Loan Amount Tenure
YES Bank Home Loan 9.85% - 12.00%, Floating 0.5% of loan amount Maximum Rs 5 Crores 1 - 35 years
Details
Documents Required

For Salaried Individuals

  • Duly filled in application form along with a photograph
  • Aadhaar Card
  • PAN Card
  • Form 60
  • Know Your Customer: Identity Proof, Address Proof, Signature Proof
  • Proof of Income: Form 16, Salary Slip for last 2 years and Income Tax returns for 2 years
  • Bank Statement for the last 6 months from the account where the applicant’s salary is credited

For Self-Employed

  • Duly filled in application form along with a photograph
  • Aadhaar Card
  • PAN Card
  • Form 60
  • Know Your Customer: Identity Proof, Address Proof of both residence and office, Signature Proof
  • Proof of Income: Computation of income for last 2 years along with Income Tax returns for 2 years, audited Profit & Loss account, Balance Sheet which includes tax audit report and proof of turnover, sales or service tax returns
  • Qualification Proof
  • Bank Statement for the last 6 months from an operative account
Benefits

  • Quick processing of home loan
  • Doorstep service is available
  • Avail home loan for long tenure up to 35 years
  • Lucrative interest rates on home loans
  • Prepayment charges on home loans are either full or partially nil
Eligibility

  • The minimum age of the applicant should be 21 years
  • The maximum age of the applicant should be 60 years
  • In the case of salaried employees, the minimum work experience should be 2 years
  • The period of business stability for self-employed individuals stands at 2 years
  • The applicant should be a salaried individual, professional or businessmen or self-employed individual and Non-Resident Indians.
  • Repayment capacity of the borrower
  • The total annual income of the loan seeker
  • Total number of dependents of the applicant’s
Other Details

  • The processing fee is 0.5% of loan amount or Rs 10,000 (whichever is higher+ GST charges)
  • Avail smaller equated monthly instalments and reduce pressure on the monthly budget
  • Balance Transfer Facility is available at low prices
  • The loan amount eligibility ranges between Rs 10,00,000 – Rs 5 Crores

FAQs

Q: What is the role of a Guarantor in Home Loan?

A: Home loan providers have quite a long list of terms and conditions which borrowers need to meet in order to be eligible for a loan.

Lenders usually ask borrowers to choose a guarantor in the following cases:

  • If the amount to be borrowed is beyond a certain limit as per bank policies.
  • If the borrower has relatively weak financial standing i.e. a low credit score.
  • If the borrower is employed in a high-risk job or is at an advanced age.
  • If the borrower is self-employed or earns less than a pre-determined minimum income level

Q: Who can avail the NRI home loan in YES BANK?

A: Only salaried individuals can avail NRI home from YES BANK.

Q: What is the maximum repayment tenure for YES BANK home loan?

A: Yes Bank provides the maximum loan repayment tenure is up to 35 years.

Q: Does YES BANK collect any pre-payment charges for a home loan?

A: The YES BANK does not levy any pre-payment charges under the floating rate of interest. However, the minimum amount of prepayment should be equivalent to at least one home loan EMI (Equated Monthly Installment) amount.

Q: What are the features in YES BANK Khushi home loan?

A: The following are the features of YES Bank Khushi Home Loan:

  • Yes bank offers Khushi home loan at attractive interest rates from 10.25% to 13.00% for the lower and middle-income group.
  • The borrower's monthly income should be a minimum of Rs 9000 is sufficient enough to apply for a Home loan with YES Bank.
  • The maximum tenure under KHUSHI Home Loans is 35 years for salaried and 30 for self-employed customers.
  • Under this loan scheme, the applicant can avail loan amount starting from Rs 1 lakh for smaller loan requirements and the maximum loan amount is up to Rs 28 Lakhs.

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