YES Bank is India’s fourth largest private sector Bank that operates in Corporate, Retail & SME Banking franchise. It caters to its retail customers by offering a wide range financial products such as credit cards, debit cards, savings account, car loans, home loan, fixed deposits, personal loan, and gold loan. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of ‘Finest Quality Large Bank in India’ by 2020
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YES BANK home loan
Buying a home is one of the most cherished dreams amongst millions of individuals in India. However, due to the sky-rocketing prices of real estate segment especially in metropolitans, many people are unable to buy a house with their financial resources and have to resort for home loan options. Top private banks are providing home loans with attractive interest rates, tax benefits, and flexible repayment options.
With YES bank home loans you and your family have a reason for a bigger smile. YES bank provides a wide range of home loan solutions to the customer to fund their residential property. Some of the types of home loans offered by YES Bank include:
- Home Purchase Loan: You can purchase a new home or property
- Home Improvement Loan: With this loan, you can renovate and repair your existing home
- Home Loan Top-up: Top Up loans will help you secure additional funding at the home loan rates along with existing Home Loan on the same property
- Home Loan Transfer: You can opt for a home loan refinance from other banks and housing finance companies.
- Home Loan for Self Employed: Tailor-made home Loan solutions for self-employed professionals or non-professionals.
YES Bank home loans come at attractive interest rates between 9.85% to 12.00% and a mere processing fee of 1% on the loan amount or INR 10000 whichever is higher. Women applicants are given a special concession of 0.05% to 0.10 % on the interest rates. They provide home Loans for all customers, including those from low-income groups and high net worth individuals. You can avail home loan with longer tenures of up to 35 years that will help you get smaller EMIs and reduce the pressure on your monthly expenses. There are NIL prepayment charges for floating rate home loans. Your loan is processed in quick turnaround time so that you achieve your dreams as quickly as possible.
YES Bank Khushi Home loans
To fulfill the dream of lower and middle-income group, YES bank has introduced KHUSHI home loan with an attractive interest rate ranging from 10.25% to 13.00%. You can avail loan amount starting from Rs 1* lac for smaller loan requirements and maximum loan amount up to Rs 35 Lacs. Under this scheme, borrowers with monthly income as low as Rs 9000 can apply for Khushi Home loans. The maximum repayment tenure for Khushi Home Loans offered by YES Bank is 35 years for salaried and 30 for self-employed customers.
With YES bank home loans, make your housing dream come alive!
YES bank home loan Rates
YES BANK offers a lucrative rate of interest ranging from 9.85% to 12.00% for salaried and self-employed customers. With the longest tenure of up to 35 years, you can opt for affordable EMI solutions that won’t put a strain on your monthly budget. Borrowers can also avail floating or adjustable interest rates, wherein, the interest applicable will vary each year based on the changes in the Bank’s Benchmark rates such as Base Rate/Marginal Cost of Funds based Lending Rate (MCLR). You can also avail a home loan interest deduction up to Rs 2 lakh under section 24(B) and Rs 1.5 lakhs on the principal repayment under section 80C of the Income Tax Act, 1961.
YES Bank home loan Eligibility criteria
YES bank home loans are available for both salaried and self-employed individuals. Some eligibility factors that YES bank evaluates for a home loan is as follows:
Age: Should be between 21 to 60 years, Job stability of around 2-3 years for a salaried individual and business stability of around 3+ years for a self-employed individual. You can avail a loan amount from Rs 10 lakh and can go up to Rs 5 crore. As a part of its special Global Indian Banking Program for Non-Resident Indians, YES banks offers NRI home loan to Indians who reside overseas.
Our home loan eligibility calculators online will help you to determine the maximum loan amount you’re eligible for, based on simple parameters like type of employment, date of birth, personal details – name, income, co-applicant details and fixed monthly obligation. You will get the maximum eligible loan amount, the rate of interest rate, EMI/tenure, and the processing fee on it.
Here’s the list of YES bank home loan documents:
- Proof of Identity and Signature
- Proof of Address (Office and Residence)
- Documents related to your Income:
- For the salaried individual: 2 Latest Salary Slips and Income Tax Returns / Form 16 for last 2 years
- For Self Employed Professionals: Last 2 years Income Tax Returns with the computation of income, audited Balance Sheet and Profit and Loss account, including tax audit report if applicable and proof of turnover such as latest sales receipts/service tax returns
- For Self Employed Businessmen / Retail SME Enterprises Last 2 years Income Tax Returns with the computation of income, audited Balance Sheet and Profit and Loss account, including tax audit report if applicable and proof of turnover such as latest sales receipts/service tax returns
- Salary Bank Statement for the past 6 months
- Details of any existing loans (if any)
- In case of partnership firms, a partnership deed is required
- Additional Documents in case of Private / Public Limited Company: Memorandum and Article of Association and List of Directors and Shareholders
- Copies of all property documents