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Yes Bank Home Loan Balance Transfer

Home Loan Transfer to Yes Bank

Last Updated 08th Jun 2021

Interest Rate8.95%
Processing FeeNil
Lowest EMI per lakh₹ 836
Loan Tenure25 years
  • Yes Bank offers home loan balance transfer facility at low interest rates starting at 8.95% for a tenure of upto 25 years.
  • Transfer home loan to Yes Bank to reduce EMIs and save more on interest.
  • Avail 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 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.

Home Loan Rates 6.75%
Processing Fees Upto 2.00% and Maximum ₹ 15,000
Prepayment Charges Nil for individuals for floating rates
Memorandum of Deposit of Title Deed 0.2%-0.5%

Process of Yes Bank Home Loan Transfer

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.

Eligibility for Yes Bank Home Loan Transfer

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

  • You must have an existing home loan with any bank except for Yes Bank.
  • You must have obtained a NOC (No-Objection Certificate) for transferring your home loan to Yes Bank.
  • You must be an Indian resident and fulfil the age criteria of Yes Bank. The minimum & maximum age to avail a Yes Bank home loan is 21 and 60 Years respectively.
  • You must have paid more than 12 EMIs on your home loan.

Features Of Yes Bank Home Loan Transfer

Here are key features of Yes Bank Home Loan Transfer:

  • Lower Interest Rates: Yes Bank offers lower home loan rates starting at 6.75% 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 & fulfil the eligibility criteria of Yes Bank, you can also avail top-up loan above your existing home loan.
  • Extended Loan Tenure: With Yes Bank home loan balance transfer facility, you can also extend the repayment tenure depending on your loan amount & the negotiation with the Yes Bank.

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
  • Aadhar 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 8.95%.

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 place your request through net banking/mobile banking. Yes Bank also allows the home loan transfer facility through phone banking by calling 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 such as for Yes Bank home loan balance transfer. Apart from that, you would also have to pay prepayment/ foreclosure charges as per your existing bank.

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, Yes Bank home loan balance transfer 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 - Jun 2021
  • 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.
  • 2021-01-06 : Yes Bank reported 1.3% quarterly growth in loans and advances
    Yes Bank registered 1.3% quarter-on-quarter growth in loans and advances which includes home, personal, gold, car, two-wheeler and education loans along with business and mudra loans to Rs 1.69 lakh crore during the December quarter. Deposits which include fixed and recurring deposits grew 7.7% to Rs 1.46 lakh crore. Further, the current account and savings account deposits grew 12.6% to Rs 37,973 crore.
  • 2021-01-05 : YES BANK retail loan disbursal to become easier and faster
    YES BANK has joined hands with Salesforce to make its retail loan disbursal easier and faster. This collaboration aims to engage customers with a unified experience and drive aggressive retail-led growth for the bank. Further, the partnership will improve the disbursal process of retail loans like home, personal, car, two-wheeler, gold and education loans.
  • 2020-07-28 : Yes Bank reported a net profit of 45. 44 crore for June quarter
    YES Bank posted a 60.05% year-on-year fall in net profit at Rs 45.44 crore for the quarter ended June 30. The Bank had posted a net profit of Rs 113.76 crore in the corresponding quarter last year. Deposits at Rs 1,17,360 crore grew 11.4% QoQ aided by 26.4% QoQ growth in current account deposits and 12.6 per cent QoQ growth in term deposits which includes fixed and recurring deposits. CASA ratio stood at 25.8%. Further, Net interest income was at Rs 1,908 crore bolstered by home, personal, gold, car and two-wheeler loan along with business and mudra loans.
  • 2020-07-06 : YES Bank introduces instant loan disbursement facility
    Private lender, Yes Bank has launched an instant loan disbursement facility. The facility will help the retail customers like that of home, personal, gold, two-wheeler, and car loan to apply for the loan in a smooth and fast manner.
*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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