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Yes Bank Home Loan

Yes Bank Housing Loan 2021

Last Updated 19th Jul 2021

Yes Bank is a large Private Bank with the lowest home loan percent rate in India. Currently, the bank offers home loans beginning from 8.95% with quick approval and online process. Home Loan in Yes Bank is quite popular with its special features and attractive rates under various Yes Bank home loan schemes for different income and occupation groups. Some of the key features of Yes Bank housing loan are:

  • Yes Bank also offers pre-approved housing loans at low rates for existing bank customers with strong credit history.
  • Yes Bank has an online application process where the KYC, income and property documents submission can be done digitally.
  • You can easily check the status of your Yes Bank home loan application status on a real time basis on the bank’s website or by visiting their customer care centre.
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Yes Bank Home Loan Details

Yes Bank offers multiple home loan products to its customers at low rates. Below-mentioned are the details of home loan Yes Bank

Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Repayment Tenure 25 years
Interest Rate 8.95%
Interest Rate Linked To MCLR
Processing Fee Upto 2.00%, Maximum ₹ 15,000
Lowest EMI Per Lakh ₹ 836
  • Purpose of Loan: Yes Bank house loan is taken to purchase, construct a home, renovate your existing home.
  • Key Features of Yes Bank Home Loans
    • Loan available for both salaried and self employed. Special rates for women borrowers.
    • Borrowers within the age group of 21 and 60 years.
    • Security: Mortgage of property you are planning to purchase, renovate or construct.
    • Loan to Value Ratio of 90%.
    • Loan Tenure can range from 1 to 25 years.
    • Interest rates in the range of 8.95% to 12.00%.
    • Yes Bank home loan EMI per lakh starts from ₹ 836. However, you can calculate your home loan EMI using Yes Bank home loan calculator 2021.
  • Special schemes: Yes Bank offers customised home loan interest rates and schemes for special category of borrowers including women borrowers, senior citizens, NRIs etc.

Features & Benefits of Yes Bank Home Loans

Some of the features and benefits of Yes Bank Home Loans are listed as follows:-

  • Yes Bank Home Loan Interest Rate starts from 6.75%.
  • Yes Bank charges a processing fees of Upto 2.00%, Maximum ₹ 15,000.
  • Loan Tenure of Home Loan ranges from 1 years to 30 years.
  • Lowest EMI per lakh on home Loan from Yes Bank is per lakh offered at the lowest interest rate of 6.75% at the longest loan tenure of 30 years.
  • Yes Bank allows prepayment of home loans with Nil charges on floating rate loans.

How to Get Easy Home Loan from Yes Bank?

Getting a home loan from Yes Bank is fairly easy with an online application process. 5 Steps for Yes Bank Home Loan Apply

  • Step 1: Visit the website, branch, or website of authorised online channel partner of Yes Bank and fill in the application form with loan amount required, property details, your personal details, occupation information and your contact number.
  • Step 2: An official of Yes Bank or online partner will call you to discuss your eligibility of the loan as well as explain the loan rates, terms as well as processing fees and other charges.
  • Step 3: Once you agree to proceed with the loan application, you will need to submit your income and property documents online or a Yes Bank’s representative will visit your home or office to collect your documents.
  • Step 4: Yes Bank will ask you to submit the processing fees and take a few days to conduct a credit appraisal and do technical evaluation of your property.
  • Step 5: If you are eligible and your property qualifies for a loan, you will be issued a sanction letter from Yes Bank and will need to sign a loan agreement with the bank. Post this, the loan will get disbursed to your account.

Yes Bank Home Loan Documents Required

To apply for a home loan in Yes Bank, the bank asks you to submit the following Yes Bank Home Loan Documents .

  • Home loan application form with three attested photographs.
  • Identity proofs: PAN, passport, Voter ID card or driving license.
  • Address or residence proofs: Recent copy of utility bills such as telephone, electricity bill, water bill, gas bill, or a copy of aadhar card, passport, driving license.
  • Property papers: Permission for the construction of a property; allotment letter; stamped agreement for sale; registered agreement for sale (only for Maharashtra); share certificate (only for Maharashtra); maintenance and electricity bill of the property; property tax receipt; conveyance deed in case of new property; payment receipts or Yes Bank account statements of the payments made to the builder or the seller; Xerox copy of the approved plan copy and registered development agreement of the builder.
  • Bank account statements for the last six months of all bank accounts held by the applicant.
  • Loan A/C statement of last one year if any loan is availed previously from any other bank or another lender.
  • Income proof for salaried: Salary certificate or salary slip for the last three months; copies of form 16 of last two years; a copy of IT returns for the last two financial years that is acknowledged by the Income Tax department.
  • Income proof for self-employed: Address proof of business; Income tax returns of last three years; balance sheet and Profit & Loss A/c for last three years; business license details; TDS certificate or Form 16 A.
  • Self-employed professionals like CA or doctors, amongst others, are also required to submit the certificate of qualification.

Yes Bank Home Loan EMI Calculator

Yes Bank home loan EMI calculator helps the home loan borrowers plan their home loan EMIs, that is composed of the monthly interest rate, and monthly reducing balance. The calculator functions on the basic components of the principal amount, loan tenure and interest rate. Yes Bank Home loan calculator helps the loan borrower pre-plan their home loan in advance.

Yes Bank Home Loan Eligibility Calculator

Yes Bank Home loan eligibility calculator is an online tool that helps the Yes Bank home loan borrowers get an estimate of their home loan eligibility. The eligibility calculator takes into consideration various factors such as the income of the applicant, age, work experience, employment and credit score. The eligibility calculator helps one analyse their ability and affordability of a home loan. You can also add a co-applicant in case your loan eligibility is lower than the amount.

Compare Yes Bank Home Loan with Other Banks

FAQs

What are the documents required for home loan Yes Bank?

To apply for Yes Bank Home Loan, you will be required to submit Yes Bank home loan documents such as home application form with attested photographs along with various other documents such as identity proof, bank statements, residence proof, property papers and loan account statements if any.

Why should I take a home loan from Yes Bank ?

Below-mentioned is the reason why you must avail a home loan from Yes Bank

Can I apply for an Yes Bank home loan online?

Yes, you can apply for a Yes Bank home loan online by visiting the bank’s official online portal for home loans or at an online marketplace like MyLoanCare.

Which is the best Yes Bank home loan scheme?

Choosing the best Yes Bank home loan scheme is subjective to the requirement of the home loan applicant. For instance, there are different home loan offers for the purchase, construction or renovation of a home. Thereby, choosing the best Yes Bank home loan scheme is based on one’s needs.

Is Yes Bank good for a home loan?

Yes Bank is one of the best home loan lenders in the country. Currently, Yes Bank home loan interest rate 2021 starts at 6.65%.

How can I check my Yes Bank home loan status?

One can check their Yes Bank home loan status on Yes Bank’s home loan portal under the option. ‘Application tracker’. Apart, home loan status can also be checked on the Yes Bank mobile app

What is the eligibility for a Home Loan of Yes Bank?

The eligibility to avail a Home Loan is set across the applicant’s age and income. The age of the applicant should range between 18-70 years. Further the minimum income of the applicant should be ₹ 25,000 along with a good credit score of 650 and above.

What is Yes Bank Home Loan procedure?

There are two methods to complete the application for Yes Bank Home Loan Process online:

  • Apply online at Yes Bank official website or online portal for home loans.
  • Online Marketplace like MyLoanCare

However, Availing a loan through an online marketplace improves your the chances of getting the best loan rates, low processing fees and special offers in the form of cash backs.

What is the maximum loan tenure I can opt under Yes Bank house loan?

Yes Bank offers you a longer tenure of 25 years to repay your loan with the benefit of paying less EMI per month.

Does Yes Bank check CIBIL for home loan?

Yes, to avail home loan from Yes Bank, you must fulfill Yes Bank Home Loan CIBIL requirement of a min CIBIL Score of 650 or above.

Can I transfer my house loan from another bank to Yes Bank?

Yes, Bank gives you the facility to transfer your existing loan with a hassle-free process. Availing loan transfer to Yes Bank can allow you to save interest, pay lower EMIs, and save money.

Can I club the income of my spouse with mine and apply for joint Home Loan?

You can club the income of your spouse to increase your Home Loan eligibility if the spouse is co-owner of the property or guarantor of the loan.

What is the benchmark applicable for a housing loan?

The benchmark applicable for Home Loan in Yes Bank is 1 Year MCLR . MCLR is an external benchmark wherein commercial banks use the RBI’s repo rate to calculate the retail loan interest rate. In MCLR, the reset period is 3 months which implies that banks would revise your interest rate of RLLR-linked loans every 3 months.


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Yes Bank Home Loan News - Jul 2021
  • 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%.
  • 2021-03-09 : YES Essence, a holistic banking proposition for women launched
    YES Bank launched YES Essence, a holistic banking proposition for women across different customer segments. YES Essence provides offers, solutions and products for women covering categories like lifestyle, wellness, education, protection and investment. The banking proposition is aiming to aid women to fulfil their aspirations.
*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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