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Yes Bank Home Loan Eligibility Calculator

Home Loan Eligibility Calculator Yes Bank 2021

Last Updated 08th Nov 2021

Eligibility CriteriaYes Bank Home Loan
Eligible Age of Borrower21 - 60 years
Work Experience for Salaried2 years
Business Stability for Self Employed2 years
Home Loan Eligibility Calculator

What is Yes Bank Home Loan Eligibility?

Yes Bank offers various home loan schemes and offers at affordable rates to eligible customers whether salaried or self-employed. Yes Bank home loan eligibility is defined as a set of parameters that determines the creditworthiness of the borrowers based on factors like age, salary, occupation, property type and credit score. You can get details about the eligibility for a Yes Bank home loan using the Yes Bank home loan eligibility calculator. It is an online tool that uses mathematical algorithms to check if you are eligible for a home loan or not. In addition, you can know about the amount that you are eligible for.

How is Home Loan Eligibility Calculated by Yes Bank?

Yes Bank Housing loan eligibility is primarily dependent on income and repayment capacity. Other factors that may impact the eligibility of home loans are age, financial position, credit history, credit score, other financial obligations etc.

Yes Bank Home Loan Eligibility Based on Age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. The minimum Yes Bank home loan age limit to get a Yes Bank home loan is 21 years at the time of loan commencement and maximum age limit is 60 years. Yes Bank offers home loans for a maximum period of 30 Years subject to the condition that the borrower’s age at the end of the tenure must not exceed 60 of tenure.

Yes Bank Home Loan Eligibility Based on Salary

  • Net income: Your net monthly income determines how much Yes Bank home loan EMI you are capable of paying after meeting all the living expenses based on your standard of living. For instance, if your salary is ₹ 25,000 then at an interest rate of 6.70% offered by Yes Bank, the loan amount that you will be eligible for would be ₹ 28,43,079 to ₹ 47,47,228 depending on your age. Similarly, if your salary is ₹ 75,000, you might get eligible for a loan amount of ₹ 56,86,159 to ₹ 94,94,457 for the same property at the same rate depending on your age at the time of loan application. However, Yes Bank asks for a net monthly income of ₹ 0 to avail a home loan.
Age Net Monthly Income (₹)
25,000 50,000 75,000
25 years47.47 Lakh71.21 Lakh94.94 Lakh
30 years47.47 Lakh71.21 Lakh94.94 Lakh
35 years47.47 Lakh71.21 Lakh94.94 Lakh
40 years43.08 Lakh64.62 Lakh86.16 Lakh
45 years36.96 Lakh55.44 Lakh73.92 Lakh
50 years28.43 Lakh42.65 Lakh56.86 Lakh

You may consider repaying any loans with short tenure and high EMI to increase your Yes Bank home loan eligibility.

  • Nature of employment: Yes Bank will check whether you are salaried or self-employed and the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. Yes Bank requires minimum income history and job stability of more than 2 years for salaried individuals and of 2 years for self-employed individuals.

Home Loan Eligibility Yes Bank based on Value of Property

  • Value of property: Yes Bank does not finance the entire property value. The maximum home loan eligibility would depend upon the value of the property as shown below:
Property Value LTV
Less than 30 Lakh90%
Between 30 Lakh and 75 Lakh80%
Above 75 Lakh75%
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the Yes Bank's legal team.

The housing loan eligibility calculator of Yes Bank can be a useful tool to assess your eligibility for the loan.

Yes Bank Housing Loan Eligibility Calculator based on FOIR

FOIR (Fixed Obligation to Income Ratio) is an important parameter used by Yes Bank to determine your home loan eligibility. Yes Bank considers all your fixed obligations like current EMIs into account while estimating your eligibility. The minimum FOIR required to be eligible for an Yes Bank home loan is 0.65. Calculate your eligibility with the Yes Bank home loan calculator and apply for the eligible loan amount hassle-free.

Yes Bank Home Loan Eligibility for Women

In the case of a sole woman applicant, Yes Bank offers a concessional home loan rate of 6.65% for women borrowers, although the eligibility criteria are the same for them. In the case of a joint home loan, the woman borrower also needs to be the co-owner of the property and should have a good credit history to get the joint home loan application passed for concessional rates.

Minimum CIBIL Score for Yes Bank Home Loan

Yes Bank considers credit score as a barometer to gauge your past credit behaviour, and hence, CIBIL score becomes the most important factor in defining your eligibility to get a home loan. A higher credit score increases your chances to get loan approval from Yes Bank. However, a low CIBIL score reduces your chances to get a home loan. Yes Bank requires a minimum credit score of 650 to be eligible for a home loan.

How to Enhance Yes Bank Home Loan Eligibility?

You can enhance the Yes Bank home loan eligibility using the tips mentioned below:

  • Add an earning family member as a co-applicant.
  • Ensure a steady income flow, regular savings and investments.
  • Provide details of your regular additional income sources.
  • Track your variable salary components.
  • Take actions to rectify errors (if any) in your credit score.
  • Repaying ongoing loans and short term debts.

How to Use Yes Bank’s Home Loan Eligibility Calculator?

To check Yes Bank home loan eligibility perform the following steps:-

  • Go to the Yes Bank website
  • Now navigate to the option Yes Bank home loan
  • To check eligibility criteria use a home loan eligibility calculator.
  • Fill the required details like loan amount required, salary, age etc.

Also, you can contact the bank by calling on their customer care number 1800-1200.

FAQs

What is the criteria to get Yes Bank home loan?

The basic criteria to get a home loan from Yes Bank are as following:

Age21 - 60 years
Income ₹ 0
Income3 years for salaried, 5 years for self-employed
Credit score650 and above

How much home loan can I get on my salary from Yes Bank?

The amount for which you are eligible is calculated based on the FOIR and LTV. The higher your income, and the least is your fixed obligations (mostly ongoing EMIs), the higher will be your eligibility for a home loan.

What is the minimum salary to get home loan from Yes Bank?

The minimum salary required to avail home loan from Yes Bank is ₹ 0.for salaried borrowers. The income criteria for self employed professionals or businessmen may vary in Yes Bank.

Is Yes Bank good for home loan?

The lowest interest rate provided by Yes Bank is 6.65% which is a best rate in the market. There are no prepayment charges on floating rate based home loan. Hence, you can consider this as a good option for housing loan.

Does adding a co-applicant increase housing loan eligibility?

Yes, adding a co-applicant with an independent income source increases housing loan eligibility significantly. By doing so you will be able to get a higher loan amount and also both of you can save on taxes under Income Tax Act.

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Yes Bank Home Loan News - Nov 2021
  • 2021-10-04 : Yes Bank Posts Growth in Loans and Deposits
    Yes Bank has posted growth of 3.6% (year-on-year) in advances at Rs 1,72,945 crore for the quarter ended September 2021 (Q2FY22). Its advances stood at Rs 1,66,923 crore at end of September 2020 (Q2FY21).
  • 2021-07-08 : Yes Bank loans, advances shrink marginally at Rs 1.63 lakh cr by end of June quarter
    Yes Bank loans and advances that include Personal Loan, Home Loan, Loan Against Property, Business Loan, Education Loan, Gold Loan, Car Loan and Top-up Loan, fell by a marginal 0.4% to Rs 1.63 lakh crore by the end of June 30, 2021, data from the bank showed on Monday. The loans and advances stood at Rs 1,63,914 crore as of June 30, 2021, as compared with Rs 1,64,510 crore in the year-ago period, registering a marginal decline of 0.4% on a year-on-year basis.
  • 2021-07-06 : Yes Bank - Loans, advances shrink in Q1 over Covid-19 impact
    Yes Bank loans and advances shrank in the Q1 FY22 on a year-on-year basis and also sequentially, reflecting the economic and business impact of the Coronavirus (Covid-19) pandemic. Sequentially, the loan book that includes Personal Loan, Home Loan, Loan Against Property, Business Loan, Education Loan, Two-wheeler Loan, Car Loan, Gold Loan, Doctor Loan, Mudra Loan, etc. contracted by 1.8% to Rs 1,63,914 crore at the end of June 2021 from Rs 1,66,893 crore in the previous quarter ended March 2021.
  • 2021-06-23 : Yes Bank aims to double retail loan book in 3 years
    Yes Bank aims to double their retail loan book that includes personal loan, business loan, home loan, loan against property, top-up loan, professional loan, personal loan, gold loan, car loan, consumer loan and mudra loan in the next three years. Their SME book has already improved to 51% from 44% last year with the target to reach around 60% in the next two years.
  • 2021-06-02 : Yes Bank revised its MCLR for the month of June
    Yes Bank changed its MCLR with effect from 1 June 2021. The overnight MCLR is 6.20%, MCLR for one month stands at 6.70%. The three months MCLR is 6.95%, and the rates for six months is 8%. Further, the one-year MCLR is 8.45%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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