Urban Money

YES Bank Loan Against Property

YES Bank
4.5

Using both commercial and non commercial properties, apply for YES BANK Loan Against Property to make the potential use of your dormant investments. YES BANK offers an enhanced LTV (Loan to Value ratio) of up to 85% on residential and 75% on commercial properties. You can avail of a loan of up to �15 crores for a maximum repayment tenure of 15 years.

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Loan Against Property Banks

Interest Rate

Processing Fee

Rating

Loan Amount/Tenure

YES Bank Loan Against Property Interest Rate

YES Bank

12% - 14%

2% - 3%

4.5

₹3L - ₹5Cr

Tenure(Up to 15 Years)

Details

Features and Benefits of YES BANK Loan Against Property

  • YES BANK offers an attractive rate of interest at an extensive tenure with a higher loan amount against property in comparison to the competitors. 
  • Provides tailor-made solutions to meet the financial needs of every individual.
  • Both commercial and residential properties, whether they are rented, self-occupied or vacant, are accepted as collateral by the YES Bank.
  • YES BANK provides the provision of transferring loan balance along with the facility of top-up.
  • YES BANK also offers multiple product variants, which include loans for upgrading or buying commercial properties, drop-line overdraft facilities, term loans, etc.
  • The loan amount taken from the YES BANK can be used for any purpose, personal or commercial. 
  • Additionally, YES BANK offers a discount on rental lease with the facility of DOD.

YES Bank Loan Against Property Overview

Using both commercial and non-commercial properties, apply for YES BANK Loan Against Property to make the potential use of your dormant investments. YES BANK offers an enhanced LTV (Loan-to-Value ratio) of up to 85% on residential and 75% on commercial properties. You can avail of a loan of up to ₹15 crores for a maximum repayment tenure of 15 years. 

  • Simplified documentation and hassle-free process of application.
  • Doorstep services for your convenience.
  • Higher eligibility and enhanced LTV of up to 85% on residential and 75% on commercial properties.

YES BANK Loan Against Property Eligibility Criteria

The eligibility pre-requisites to apply for YES BANK Loan Against Property are:

For Salaried Individuals

  • The applicant must have a minimum annual income of ₹3 lakh.
  • Where income is regarded for eligibility: minimum 23 years at the stage of loan approval and maximum 65 years at the time of retirement age (whichever is less) at the time of loan maturity.
  • Where income is not regarded for eligibility: minimum 18 years at the stage of loan approval and maximum 70 years at loan application or 85 years at the time of loan maturity. 
  • Minimum 3 years of the total employment.

For Self-employed Individuals

  • A minimum cash profit of ₹4 lakh per annum is required.
  • A minimum turnover of ₹15 lakh per annum for commission income/service providers, ₹10 lakh per annum for doctors and ₹60 lakh for non-service providers. 
  • Where income is regarded for eligibility: minimum 23 years at the stage of loan approval and maximum 65 years at the time of retirement age (whichever is less) at the time of loan maturity.
  • Where income is not regarded for eligibility: minimum 18 years at the stage of loan approval and maximum 70 years at loan application or 85 years at the time of loan maturity. 
  • Minimum 3 years in the current business/profession.

YES BANK Loan Against Property Fees and Charges

YES BANK Loan Against Property requirements include charges other than the interest rate. Have a look at the table below to learn about the fees and charges.

Particulars Fees & Charges
Loan Processing Charges (Non-Refundable) Up to 2% of the loan amount (subject to a minimum of INR 10,000)
Login Fees (Non-Refundable) Up to a maximum of INR 10,000/
Part-prepayment Charges For individual borrowers: Nil For others:
  • No part-prepayment allowed for the first 12 months from the date of loan disbursal
  • Post 12 months, prepayment of up to 20% of the outstanding loan amount: Nil
  • Prepayment of more than 20%: 4% of the amount being repaid
Foreclosure Charges For individual borrowers: Nil For others:
  • Foreclosure is not allowed for the first 12 months from the date of loan disbursal
  • Post 12 months, foreclosure charges at 4% of the outstanding principal amount
Conversion/Switch Fees 0.5% of the outstanding principal amount
Late Payment Charges Up to 2% per month on the overdue amount
EMI Cycle Date Change ₹500 per instance
Cheque Bounce/Return Charges ₹750
Loan Cancellation Charges ₹5,000 per instance
Cheque Swap Charges ₹500 per instance
Repayment Mode/Swap Charges ₹500 per instance
Amortisation Schedule/Account Statement ₹100 per request
Foreclosure Statement Charges/Prepayment Statement ₹100 per request
Document Retrieval Charges (scanning, photocopy etc.) ₹500 per instance
List of Title Documents ₹500 per instance
Repossession/Legal and Incidental Charges At actuals

YES BANK Loan Against Property Interest Rates

Interest Rate As per terms and conditions (based on an external benchmark set by RBI) 
Loan Amount  Up to ₹15 crores
Loan Tenure Up to 15 years
Processing Fees Up to 2% of the loan amount

Factors Affecting YES BANK Loan Against Property Interest Rates

Banks and NBFCs do not offer the same rate of interest to every applicant, and this decision is guided by many factors. The parameters affecting the YES BANK Loan Against Property interest rate are: 

Loan Amount

YES BANK property loan rates depend on the amount of loan you apply for. You can avail of a loan of a minimum of ₹10 lakh. 

Net Monthly Income

The higher your net monthly income, the higher will be your credibility in paying back the loan. Thus, you will be offered a lower interest rate for your Loan Against Property.

Type of Loan

Different products of loans are provided under the same category by the YES BANK. So, the interest rate is offered based on the fixed and floating rate schemes and the type of loan you are opting for.

Type of Property

Loans availed for prime residential properties are easier to get and at a lower rate of interest in comparison to the industry or commercial properties. 

Your Profession

A higher rate of interest might be charged from a salaried individual than a businessman or self-employed professional for availing a mortgage loan.

Documents Required to Apply for YES BANK Loan Against Property

  • Proof of signature and identity
  • Address proof (residence and office)
  • Income documents:
    • For salaried individuals: Form 16/2 and latest salary slips for the preceding 2 years
    • For self-employed professionals: IT returns for the last 2 years along with the computation of audited balance sheet, income, and Profit and Loss Account, which includes tax audit report (if applicable) and proof of turnover displayed via service tax returns/latest sales.
    • For Retail SME Enterprises/Self Employed Businessmen: IT returns for the preceding 2 years along with computation of audited balance sheet, income, and Profit and Loss.

YES BANK Loan Against Property Customer Care Number

For any query related to YES BANK Loan Against Property requirements, you can contact the toll-free customer care number at 1800 1200 or +91 22 6121 9000. 

For people living outside India, contact on these below-mentioned numbers:

  • +91 22 3099 3600 
  • 1877 659 8044 (USA/CANADA)
  • 808 178 5133 (UK)
  • 8000 3570 3089 (UAE)

FAQs

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

What is the maximum tenure for which I can avail a Loan Against Property (LAP)?

The maximum tenure for which you can avail of a Loan Against Property from YES BANK is 15 years. 

Does YES BANK have a fixed rate of interest on a Loan Against Property?

No, the YES BANK Loan Against Property interest rates are flexible depending on the fixed or floating interest rate the borrower goes for.

Does YES BANK check the CIBIL score before approving the application for Loan Against Property?

Yes, all banks check the CIBIL score of the applicants before approving their loan applications. A 750 CIBIL score is considered ideal by the banks.

What are the KYC documents I will have to submit to apply for a Loan Against Property from YES BANK?

To apply for a loan against property from YES BANK, submit the KYC documents like identity proof, residence proof, and age proof.

Do I have to pay a processing fee to apply for YES BANK Loan Against Property?

Yes, YES BANK levies a processing fee of up to 2% on the loan amount.

What is the maximum loan amount that I can avail against the property?

You can apply for YES BANK Loan Against Property for a maximum amount of ₹15 crores.

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