YES Bank Home Loan

About Yes Bank

Yes Bank is India's fifth largest private sector bank, founded in 2004. YES Bank is the only Greenfield Bank license awarded by the RBI in the last one decade. Yes Bank is a “Full Service Commercial Bank”, and has steadily built a Corporate, Retail & SME Banking franchise, Financial Markets, Investment Banking, Corporate Finance, Branch Banking, Business and Transaction Banking, and Wealth Management business lines across the country. Yes Bank has banking network of over 600 branches and 2,000 ATMs giving it a major presence in urban India.

What Is a Home Loan?

Home Loan is offered to individuals who wish to construct or buy a house. The property bought or about to be constructed is mortgaged as collateral until the repayment of the loan is completed with full interest. The repayment of the loan generally depends on the capacity of the borrower. Normally, the home loan tenure ranges between 5 to 30 years. The borrower can opt for either floating type of interest of fixed interest rate. Home loan provides tax benefits to the borrowers.

An Introduction to Yes Bank Home Loans

Being the largest bank in India, Yes Bank offers a wide range of services in the personal loan segment. It is the most preferred bank by all kinds of people for any financial service. The bank has been voted as ‘The most preferred home loan provider’ in AWAZZ consumer awards. Packed with exclusive benefits, Yes Bank Home Loans are tailor made catering to the needs of various customers.

Advantages of Yes Bank Home Loans

• Low interest rate
• No hidden costs and administrative charges
• Low processing fees
• No security needed
• Less paperwork
• No prepayment penalties

Features of Yes Bank Home Loans

Key Highlights

Objective

Providing home loans for the applicants from in any area like rural, semi-urban, urban and metro etc.

Loan Amount

Loan amount provided is upto 80% of the home with a maximum of Rs. 5 crores

Loan Tenure: Upto 25 years

Prepayment Charges: Nil

Processing Fees: 0.5% of the loan amount or Rs. 10,000 whichever is higher

Eligibility Criteria

o avail the personal loans from Yes Bank, you need to have the following eligibility criteria.

• You should be 21 years old or above
• Steady income
• Salary slip of last 3 months
• Proper Address Proof and Identity proof

Documents Required to Apply for Yes Bank Home Loans

Important documents to be submitted while applying for personal loans with Yes Bank

• Completed loan application
• 3 Passport size photographs
• Proof of identify (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
• Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill)
• Statement of Bank Account/ Pass Book for last six months
• Form 16/IT returns for the last two financial years for salaried employees
• IT returns for the three years for self-employed professionals

EMI Payment Methods

Your Yes Bank personal loan can be repaid in following three ways.

Standing Instruction (SI):

If you are an existing account holder with Yes Bank, Standing Instruction is the best mode of repayment. Your EMI amount will be debited automatically at the end of the monthly cycle from the Yes Bank account you specify.

Electronic Clearing Service (ECS):

This mode can be used if you have a non-Yes Bank account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.

Post-Dated Cheques (PDCs):

You can submit post-dated EMI cheques from a non-Yes Bank account at your nearest Yes Bank Loan Centre. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.It is recommended that you opt for either the SI or ECS mode of payment for faster and less prone to error than the use of PDC.

How to Apply for Yes Bank Home Loan?

You can either apply online or visit a nearby Yes Bank branch for the application. You can also download the home loan application form from the Yes Bank official website, complete the form and submit it the bank representative.

You can also check your eligibility for a home loan through CreditMantri and apply for it.

Summary of Yes Bank Home Loans

This is probably the only bank that provides several home loan products in India. With attractive interest rates, the bank caters to the needs of various sections of people. You can also pre-close the home loan with the prepayment for which no penalty is levied. Overall, the bank offers the best deal on home loans.

Yes Bank Home Loan FAQs

1. What are processing fees on Yes Bank Home Loans?

0.5% of the loan amount or Rs. 10,000 whichever is higher

2. Is there penalty for prepaying the Yes Bank Home Loan?

No penalty is levied for prepaying the Yes Bank Home Loan?

3. Can I get Yes Bank Home Loan without a Guarantor?

No need of a guarantor

4. What is the maximum loan repayment period for Yes Bank home loans?

The maximum repayment period is 25 years

5. How Can I apply for a Yes Bank home loan?

You can either apply online or visit a nearest Yes Bank branch and take the help of the bank’s representative.