Urban Money

YES Bank Home Loan

YES Bank
4.5

A home loan helps you acquire your dream home without having to worry about your finances. YES BANK strives to provide this home loan at the most competitive interest rates with a high disbursal amount so that you do not feel any financial constraints. Apply for YES BANK home loan online and receive flexible loan tenures and balance transfer facility among other attractive features including lower interest rates starting from 8.95%.

  • YES Bank
  • Home Loan
Loan Amount:₹10L - ₹10Cr
Interest Rate:Up to 6.7%
Processing Fee: Up to 2%
Tenure:35 Years
Details
BanksInterest RateProcessing FeeLoan Amount/Tenure
YES Bank

Up to 6.7%

Up to 2%

₹10L - ₹10Cr

Tenure(1 - 35 Years)

Details

Features & Benefits of YES BANK Home Loan

  • Appealing rate of interest.
  • Customised home loan policies for self-employed individuals to make sure that they are eligible for the desired loan.
  • It provides a hassle-free transfer of loan from the existing bank or financial institution to YES BANK. It ensures a lower rate of interest which will reduce your EMI amount.
  • You can avail a top-up facility by transferring the loan to YES BANK. 
  • YES BANK provides the benefit of longer tenure of loans of up to 35 years which results in smaller EMIs.
  • Quick and efficient processing of loan applications so that you can avail the home loan in no time.
  • YES BANK provides doorstep services for all your loan needs.

A home loan helps you acquire your dream home without having to worry about your finances. YES BANK strives to provide this home loan at the most competitive interest rates with a high disbursal amount so that you do not feel any financial constraints. Apply for YES BANK home loan online and receive flexible loan tenures and balance transfer facility among other attractive features.

  • Attractive interest rates starting from 8.95% onwards.
  • Quick and efficient loan services.
  • Flexible and customised tenures.

YES BANK Home Loan Eligibility Criteria

YES BANK provides home loans for both self-employed and salaried individuals along with offering loans to Non-Resident Indians (NRIs) as well. This offer is a part of its special Global Indian Banking Program for Non-Resident Indians. The YES BANK home loan eligibility criteria are as follows:

  • The applicant’s age must be between 21-70 years (at retirement age or loan maturity whichever comes early).
  • The income for salaried individuals must be ₹20,000 per month and for self-employed individuals ₹4 lakh per annum. 
  • The required work experience for salaried employees is a minimum of 2 years (total employment of 1 year for people qualifying from Top Management Institutes like CS/CA).
  • 3 years of business stability is a prerequisite for self-employed individuals. 
  • The eligibility for loan amounts varies from ₹10 lakh to ₹10 crores.

Factors Affecting YES BANK Home Loan Eligibility

Age of the borrower Credit history of the applicant.
CIBIL score of the applicant Applicant’s loan repayment history.
The repayment capacity of the applicant. An active loan where the applicant is a co-borrower.

YES BANK Home Loan Fees and Charges

Category Fee/Charges
Processing Fee 2% or Rs. 10,000 whichever is higher (If the disbursal is not availed then Rs. 7,500 is non-refundable)
Part-Payment/Prepayment/Loan Pre-closure/Foreclosure Fees Nil for floating rate loans 2.5% on principal outstanding amount for the fixed-rate loans.
Penal Interest Rate/Late Payment (Default Interest Rate) 24% per annum i.e. @2% per month on the overdue instalment(s).
Additional Interest 2% p.a. on the interest rate applicable on the outstanding loan amount.
Repayment Mode/Cheque Swap Charges Rs. 500
Cheque Bounce / Return Charges Rs. 750 per instance
Amortisation Schedule/Statement of Account (on the registered email id) Nil
Account Statement ot Amortisation Schedule (Via branch or physical mode) Rs. 100 per request
Prepayment Statement Charges Rs. 100 per request
Duplicate No Objection Certificate (NOC) Rs. 100 per request
Loan cancellation/Rebooking Rs. 2,000 (in addition to stamping/franking norms, if applicable)
Legal, Repossession & Incidental charges At actuals
Document retrieval charges (per advice) (Photocopy/scanning, etc.) Rs. 500
Switch charges from floating to the applicable fixed rate (only on the permission of the bank on request) 0.5% of the outstanding loan amount
Switch charges from fixed to the applicable floating rate (only on the permission of the bank on request) 1% of the outstanding loan amount
Conversion charges from higher floating rate to a lower floating rate (only on the permission of the bank on request) 0.5% of the outstanding loan amount
Conversion charges from higher fixed rate to a lower fixed rate (only on the permission of the bank on request)  1% of the outstanding loan amount
EMI cycle date change Rs. 500
Equitable Mortgage Creation Charges/Stamp Duty Based on the prevailing state laws (subject to change in time)

YES BANK Home Loan Interest Rates

The YES BANK home loan interest rate differs according to  numerous variants. Have a look at the table below to understand the breakdown of the interest rate.

Reset Frequency/Variant Interest Rate
Vanilla/RTR based/Standard Income Program Margin based /Loan takeover- Income 8.95% onwards
Surrogate Programs/Top-up/PD Based Program 10.39% to 12.50%

Factors Affecting YES BANK Home Loan Interest Rates

The interest rate on your loan application will depend on 3 major factors.

Loan Amount The home loan amount sanctioned to you will decide the interest rate offered. The higher the loan amount the lesser the interest rate will be.
Salary The higher the salary/income, the lower rate of interest will be charged.
Type of Loan Women borrowers can avail a home loan at a lower rate of interest. A home loan can help you with tax exemptions but you should still consult your financial advisor before making a final decision.

Documents Required for YES BANK Home Loan

Documents Required Salaried Self-Employed
Application with a photograph Yes Yes
Aadhaar Card (not compulsory for NRIs) Yes Yes
KYC
  • Address proof
  • Identity proof
  • Signature proof
  • Address proof (residence and office)
  • Identity proof
  • Signature proof
Form 60/PAN card Yes Yes
Income proof Form 16/ IT returns and salary slip of preceding 3 months.   Service Tax Returns/IT returns of the preceding 2 years with the computation of audited Balance Sheet, Income, and Profit and Loss account (also include tax audit report, subject to availability) and proof of turnover.
Qualification Proof Not applicable Yes (applicable for self-employed professionals)
Bank Statement Of the preceding 6 months of the account where salary has been credited. Last 6 months from the operative account

How Does the EMI Calculation Work for YES BANK Home Loan?

The formula for calculating the EMI is: 

E=P.r.(1+r)^n/(((1+r)^n)-1)

Wherein,

E = EMI

P = Principal amount

R = interest rate on monthly basis

N = tenure (in months)

But, it always leaves scope for human error. It also does not include factors like inflation and interest rates which keep on changing. Therefore, YES BANK makes it easier for its applicants to calculate the monthly EMI with the help of its home loan EMI calculator. To calculate your monthly EMI on the home loan you just need to enter the processing fee, principal amount, rate of interest, and tenure in the calculator. The ‘Amortisation Table’ also helps you understand the outstanding amounts and the entire payable interest better. 

How Does YES BANK Compare with Other Lenders?

Interest Rates (per annum)

Lender Name Up to ₹30 Lakhs Above ₹30 Lakh & upto ₹75 Lakhs Above ₹75 Lakhs
State Bank of India 6.70-7.65 6.70-7.75 6.70-7.85
HDFC 6.70-8.45 6.70-8.60 6.70-8.70
Axis Bank 6.75-11.50 6.75-11.50 6.75-11.50
ICICI Bank 6.70-7.55 6.70-7.55 6.70-7.55
Kotak Mahindra Bank 6.55 onwards 6.55 onwards 6.55 onwards
PNB Housing Finance 6.99-12 6.99-12 7.15-12
Punjab National Bank 6.55-7.95 6.50-7.65 6.50-7.60
Bank of Baroda 6.50-8 6.50-8 6.50-8.25
Union Bank of India 6.40-7.60 6.40-7.65 6.40-7.65
IDFC First Bank 6.90 onwards 6.90 onwards 6.90 onwards
L&T Housing Finance 6.75 – 7.75 6.75 – 7.75 6.75 – 7.75
Bajaj Finserv 6.70-14 6.70-14 6.70-14
Godrej Housing Finance 6.49 onwards 6.49 onwards 6.49 onwards
Tata Capital 6.70 onwards 6.70 onwards 6.70 onwards
LIC Housing Finance 6.66-7.85 6.66-8.05 6.66-8.05

YES BANK Home Loan Customer Care Number

Applicants/customers can reach out to the customer care number at 1800 1200 for any query. 

You can also mail them at [email protected] or send an SMS ‘YES HL’ to 9223390909.

FAQs

From refinancing to reducing your interest, we have the answers right here.

What is the minimum salary to apply for YES BANK home loan?

The minimum salary to apply for YES BANK home loan is ₹20,000.

Can I take more than one home loan at a time?

You can take as many home loans as you need as there is no prevalent law that forbids you to take more than one home loan.

When do home loan EMIs start?

The home loan EMIs start when the registration for the property is completed and the borrower has taken possession of the house.

Does YES BANK check for CIBIL score for a home loan?

Yes, every bank checks your CIBIL score before approving your home loan application.

What are the KYC documents I will have to submit to apply for a home loan from YES BANK?

You will have to provide KYC documents to apply for YES BANK home loan including passport, driving licence, and signature proof.

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