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Yes Bank Home Loan Balance Transfer

Home Loan Transfer to Yes Bank: Details

Last Updated 07th Dec 2021

Interest Rate6.70%
Processing FeeNil
Lowest EMI per lakh₹ 688
Loan Tenure25 years
  • Yes Bank offers a home loan balance transfer facility at low interest rates starting at 6.70% for a tenure of upto 25 years.
  • You can transfer your home loan to Yes Bank to reduce EMIs and save more on interest.
  • Avail home loan top up from Yes Bank at the time of loan balance transfer to fulfil additional fund requirements.
Calculate Savings, Check Best Offers Get upto ₹ 1,000* Cashback

Yes Bank Home Loan Transfer

Yes Bank, the largest Private Bank in India, offers the facility to transfer your home loans from the existing scheduled commercial, private and foreign banks and housing finance companies to Yes Bank at the lowest interest rates. To transfer your housing loan to Yes Bank, you must have regularly paid the EMIs for a minimum tenure of 6-12 months and fulfil other eligibility criteria of Yes Bank.

Yes Bank Home Loan Balance Transfer Charges

Before you decide to transfer your home loan to Yes Bank, compare and calculate all the costs of loan transfer. The table below mentions Yes Bank home loan transfer interest rate and other home loan transfer charges of Yes Bank.

Yes Bank Home Loan Transfer Rates 6.70%
Processing Fees Upto 2.00% and Maximum ₹ 15,000
Prepayment Charges Nil for individuals in case of floating home loan rates
Memorandum of Deposit of Title Deed 0.2%-0.5%

Features of Yes Bank Home Loan Transfer

Here are key features of the balance transfer scheme:

  • Lower Interest Rates: Yes Bank offers lower home loan rates starting at 6.70% along with Nil processing on home loans. Thus, you can save on your home loan by transferring your loan to Yes Bank.
  • Top-up Loans: If you have a good CIBIL score and fulfil the eligibility criteria of Yes Bank, you can also avail top-up loan above your existing home loan.
  • Extended Loan Tenure: With this Yes Bank home loan balance transfer facility, you can also extend the repayment tenure depending on your loan amount.

Eligibility for Yes Bank Home Loan Transfer

To transfer your home loan to Yes Bank, you must fulfil the following eligibility criteria:

  • First, you must have an existing home loan with any bank except for Yes Bank.
  • Second, you must have obtained a NOC (No-Objection Certificate) for transferring your home loan to Yes Bank.
  • You must be an Indian resident within the age criteria of Yes Bank. The minimum & maximum age to avail a Yes Bank home loan takeover is 21 and 60 Years respectively.
  • You must have paid more than 12 EMIs on your home loan.
    • Use Yes Bank home loan balance transfer calculator to estimate the best balance transfer offers and costs associated with it.

Process to Transfer Your Existing Home Loan to Yes Bank

The home loan balance transfer process to Yes Bank is smooth and quick. To transfer your existing home loan to Yes Bank, you need to follow the steps as mentioned below:

  • Submit the request to transfer your home loan to your existing bank by addressing a loan transfer letter. To place a request, you would also need to ask about the transfer of title deeds and other securities to Yes Bank upon receipt of the loan amount.
  • On the review of your application, your bank will issue a No Objection Certificate (NOC).
  • Submit the NOC to Yes Bank and request them to transfer your loan and pay off your outstanding amount to the existing bank.
  • Yes Bank will then validate the NOC, sanction your loan and pay off your dues to the existing bank.
  • Your existing bank will issue a confirmation letter stating the equitable mortgage over the property.
  • Your existing bank will close your loan account and cancel all cheques or standing instructions related to your loan.
  • Finally, your home loan transfer to Yes Bank will be completed.

Document Required for Yes Bank Home Loan Transfer

To avail of home loan balance transfer from Yes Bank, you need to submit the following documents to Yes Bank.

Documents Required Accepted Valid Documents
Application Form with Photo Application Form of Primary Borrower and Co-borrower(s)
Identity Proof
  • Valid Passport
  • Aadhaar Card
  • Driving License
  • Photo Identity card issued by Govt. body
  • Letter from a recognized public authority
Residential Proof
  • Valid Passport
  • Voter Card
  • Latest Utility bill
  • Rent agreement on stamp Paper
  • Life Insurance Policy
  • Residence address Certificate by an employer on company letterhead
Age Proof
  • Primary Borrower
  • Co-borrower(s)
Income Proof
  • Last 3 years’ Form 16
  • Last 6 months salary slip
  • Last 6 months’ bank account statement showing salary credit
Other Documents
  • Loan statement
  • List of property documents (LOD) in possession of the existing lender.
  • Last 12 months' statement of the bank account from which loan EMI is paid

FAQs

Is it good to transfer a home loan to Yes Bank?

Yes, transferring your home loan to Yes Bank is a good idea for home loan borrowers as Yes Bank provides lower home loan rates starting at 6.70%, and minimal processing fee is Nil.

How can I transfer my Yes Bank home loan from one branch to another?

To transfer your Yes Bank home loan from one branch to another, you can request through net banking/mobile banking. Yes Bank also allows the home loan transfer facility through phone banking by calling the home loan customer care.

Are there any charges while applying for Yes Bank home loan balance transfer?

Yes, Yes Bank charges home loan transfer fees. Apart from that, you would also have to pay prepayment/ foreclosure charges as per your existing bank. As the amount will be transferred to a new bank, the processing fee will also be levied accordingly.

What are the benefits of taking a Yes Bank home loan balance transfer?

If you apply for a home loan transfer to Yes Bank, you can clear off your existing home loan at lower rates and save more on interest. Besides that, it can also help you avail top-up on your existing home loan.

How can I check the status of my Yes Bank home loan balance transfer?

To know your Yes Bank home loan status, you can call Yes Bank home loan customer care number or visit Yes Bank official website to check the status.


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Yes Bank Home Loan News - Dec 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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