Yes Bank Gold Loan Interest Rate

Last Updated 06th May 2020

Yes Bank Gold Loan Interest Rates May 2020

Yes Bank offers one of lowest gold loan rate of 11.25% , both for its existing bank customers as well as new borrowers. Yes Bank jewel loan interest rate varies by amount of loan, purity of gold and loan to value ratio. Check Best Offers.

Yes Bank Gold Loan Rate 11.25% onwards
Processing Fee 0.75%, Minimum Rs. 500
Loan Tenure 6 months to 36 months
Loan Amount ₹ 25,000 to ₹ 50 Lakh
Prepayment Charges 1% if prepaid before 6 months
Gold Loan SchemeEMI Scheme, Overdraft Scheme

Overdraft facility available

Apply for Gold Loan @ 10.50%* Get upto ₹ 500* Cashback Fix Branch Appointment

Yes Bank Gold Loan

Gold Loans are loans availed by pledging your gold ornaments with a bank. Yes Bank gold loan can be taken for meeting urgent personal expenses like children education, marriage and other financial emergencies in the family as well as for business purposes. The gold mortgaged acts as a security to the loan. Taking a loan from Yes Bank has the following benefits:

  • Yes Bank offers high jewel loan amount of up to Rs. 50 lakh with attractive features such as nil foreclosure or prepayment charges.
  • You can also get an agricultural gold loan from the bank at extremely low interest rates against proof of farming and an undertaking that the loan will be used for agriculture purposes.
  • The bank has also launched an attractive overdraft facility on its gold loan scheme for its selected customers. The scheme allows you to minimise your total interest outgo on the loan.

Yes Bank Gold Loan Details

If you are planning to take a Loan against Gold from Yes Bank, you need to know the following details of its gold loan schemes:

  • Purpose of Gold loan: To meet personal and business expense requirements
  • Collateral: Loan against security of your gold jewelry
  • Type of Gold Accepted: Gold jewelry of up to 50 grams with a purity of 18 to 22 carat
  • Customer Segments: Yes Bank offers jewel loans to all individuals above 18 years of age including salaried, self-employed professionals, businessmen, students, pensioners and housewives
  • Gold Loan Features
    • Yes Bank Gold Loan Interest Rate starts from 11.25% to 16.25%
    • Yes Bank charges a processing fees of 0.75%, Minimum Rs. 500
    • Loan Tenure of Gold Loan ranges from 6 months to 36 months
    • Lowest EMI per lakh on Gold Loan from Yes Bank is ₹ 3,286 offered at the lowest interest rate of 11.25% at the longest loan tenure of 36 months
    • Yes Bank allows prepayment of jewel loans with 1% if prepaid before 6 months charges
  • Documents Requirement: Only basic KYC documents for address proof and income proof required. The bank doesn’t require you to submit your income proof or doesn’t check your CIBIL score for approving a gold loan.
  • Popular Gold Loan Schemes of Yes Bank
    • EMI Scheme
    • Overdraft Scheme

How can I get a Gold Loan from Yes Bank ?

You can apply for a gold loan with Yes Bank directly through branch walk-in or by filling an online application form. However, to get the best gold loan rate offers and comparison of all banks, you can apply online through MyLoanCare. MyLoanCare will give you a detailed comparison of gold loan schemes of all banks, calculate your gold loan eligibility and connect you to the best bank for gold loan. Customer representatives of bank will get in touch with you instantly to fix up an appointment for branch visit. You will also be assisted by a dedicated MyLoanCare loan executive who will ensure that the process of getting loan is smooth, convenient and quick. You can get gold loan in a single branch visit during which Yes Bank will do an appraisal of your jewellery in terms of its purity and weight. In case, the jewelry meets the bank standards, the bank will sanction your loan and give you an instant loan against the security of your gold jewelry.

Yes Bank Gold Loan Interest Rate Calculator

Lowest Gold Loan Interest Rate in Yes Bank is 11.25%.The factors that are used by Yes Bank to calculate interest on gold loan are loan amount, loan tenure and loan required as a percent of value of gold jewelry. Yes Bank’s existing account holders get gold loan at best rates compared to other customers.

  • Loan Amount: The amount of gold loan you avail depends on the weight of jewelry you can pledge with the bank. Generally, banks offer a jewel loan per gram of gold which differs by the purity of gold and loan to value ratio offered. Banks offer lower interest rates for higher amount. Yes Bank offers loan between ₹ 25,000 and ₹ 50 Lakh amount.
  • Relationship with the Bank: Yes Bank offers special rates, offers and charges to the existing account holders of the bank. Those who have made their payments on time in the past can get the benefit of low gold loan interest rate from Yes Bank.
  • Loan tenure: Many banks charge higher rate of interest for gold loans of lower tenure and lower interest rate for gold loans of higher tenure. Yes Bank offers gold loan with a tenure of 6 months to 36 months.
  • Loan to Value ratio: Maximum gold loan to value of gold jewelery ratio on gold jewelry has been fixed at 75% by RBI. However, Yes Bank also offers loans at lower LTVs. Interest rate on loans with lower LTV will be lower compared to loans with higher LTV. Maximum LTV offered by Yes Bank is 75% calculated on net weight of gold in your jewelry.
  • Purpose of Loan: All banks, including Yes Bank also offer gold loan for agricultural purposes at low concessional rates, as the same is counted under priority sector lending targets of the bank. Yes Bank's gold loan interest rate for agricultural loans is generally lower by 1-2% compared to its gold loan rate for regular customers.
Other Charges of Gold Loan Yes Bank

In addition to interest rates, Yes Bank also carry some other charges while offering gold loan which include:

  • Processing fees – Yes Bank charges minimum processing fees 0.75%, Minimum Rs. 500. To get lowest fee, gold loan interest rates comparison, offers and cashback apply online through MyLoanCare.
  • Prepayment and foreclosure – Banks allows prepayment of gold loan and typically levy prepayment or foreclosure charges i.e. 1% if prepaid before 6 months.

Gold Loan Schemes of Yes Bank

Yes Bank offers several gold loan products to meet your various product requirements. These include loans with different repayment options

  • Gold Loan with EMI option

    In this scheme, you get the option of paying gold loans in the form of EMIs. Each month you pay an EMI to the bank, which contains a component of interest as well as principal repaid. Interest component is higher in the initial EMIs and reduces with each EMI.

    • Interest of 3 to 6 months is charged upfront for a customer if the loan amount is less than Rs. 100,000
    • Loan is processed and disbursed in less than one hour.
    • No guarantor/ Co borrower required
  • Gold Loan with Overdraft facility

    • Yes Bank offers overdraft facility against gold, which allows the borrowers to withdraw funds or deposit surplus amount in the account during the loan tenure.
    • The borrower is required to pay an interest only on credit utilised.
    • This loan is of special use for self employed borrowers or salaried borrowers who earn annual bonuses.
  • Gold Loan for Agriculture

    • Yes Bank offers this scheme for farmers wherein, loan is offered to them against gold ornaments in order to meet farming expenses.
    • Presenting a proof of farming activity and ownership of an agriculture land is mandatory.
    • The end use of the gold loan must be mentioned by the borrower.
  • Gold Loan with EMI option

    • Yes Bank offers the option to repay your loan in Equated Monthly Instalments (EMIs) for customers holding an account with the bank.
    • EMIs consist of interest and a component of the principal amount. With each EMI, the interest component reduces, and the principal component increases.

Documents Required for Yes Bank Gold Loan

The documentation process of Yes Bank is smooth. You need to submit one proof of identity and one proof of address to get a gold loan. The list of identity and address proofs is as follows:

  • Identity proof: PAN Card, Driving License, Passport, Voter’s ID Card, Aadhar Card
  • Address proof: Voter’s ID Card, Aadhar Card, Rent Agreement, Utility Bills, Bank Statement

Compare Gold Loan Interest Rates of Yes Bank with other banks

Frequently Asked Questions on Yes Bank Gold Loan

How much gold loan can I avail from Yes Bank?

You can get upto ₹ 50 Lakh as gold loan from Yes Bank.

How can I check my Yes Bank gold loan status?

You can log in to your MyLoanCare account, the status of your loan will be shown on the home page of your account. Alternatively, you can also check your gold loan status by logging into the net banking account that received at the time of availing the loan. However, if you are concerned about the loan approval status, then in case of a gold loan, the process of acceptance to disbursal is done within 24 hours.

Is gold loan Yes Bank available online? Is there a Yes Bank gold loan online payment facility?

Yes, you can apply gold loan online in Yes Bank to get a quick loan. Yes, Yes Bank offers gold loan online payment facility.

Are there any prepayment charges on gold loan?

Yes, you can prepay your jewel loan. Applicable prepayment charges - 1% if prepaid before 6 months.

Does Yes Bank offer Agricultural Gold Loan?

Yes, Yes Bank offers gold loan for agriculture at 1- 2% lower interest rate than gold loan rates.

Yes Bank Gold Loan News - May 2020
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More