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Yes Bank Loan Against Property

Yes Bank Mortgage Loan Interest Rates 2021

Last Updated 08th Jun 2021

Yes Bank offers Loan Against Property starting at interest rate of 10.50% which is one of the best mortgage loan rates in India. Check Best Offers

Processing Fee Upto 1.00%
Max Tenure 15 years
Lowest EMI ₹ 1,105 per lakh
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 21 and Max 60 years for Salaried
Min 23 and Max 65 years for Self Employed

    Overdraft facility available

    Apply for Loan Against Property @ 7.20%* Get upto ₹ 1,000* Cashback

    Yes Bank Loan Against Property lap in India

    Yes Bank offers loan against property to people who require funds to meet their business as well as personal needs against the mortgage of their existing property. Taking a loan from Yes Bank has the following benefits:

    • Overdraft facility available
    • Loan upto 85% of property value
    • Low EMIs with 15 year loan
    • Top up facility available
    • Loan against residential & commercial property

    Yes Bank Loan Against Property Fees and Other Charges

    Yes Bank charges various fees and charges when a borrower takes a loan against property:-

    • Processing Fee on Yes Bank LAP Loan is 0.75%. This fee is charged by Yes Bank to maintain the applicant’s loan account and to process the loan application.
    • Advocate's fee for property search and title investigation report.
    • Valuer's fee for valuation report.
    • Stamp duty payable for Loan agreement and mortgage.
    • Property insurance premium.
    • CERSAI Registration Fee of ₹ 50 + GST up to ₹ 5 Lakh limit and ₹ 100 + GST for limits above ₹ 5 Lakh.

    Mortgage Loan Interest Rates in Yes Bank for Salaried employee

    The mortgage loan interest rates in Yes Bank for salaried employee are listed in the table:-

    Interest Rate for Salaried for Commercial Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 10.50%
    ₹ 30 Lakh - ₹ 75 Lakh 10.50%
    ₹ 75 Lakh - ₹ 2 Cr 10.50%
    Above ₹ 2 Cr 10.50%

    Interest Rate for Salaried for Residential Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 10.50%
    ₹ 30 Lakh - ₹ 75 Lakh 10.50%
    ₹ 75 Lakh - ₹ 2 Cr 10.50%
    Above ₹ 2 Cr 10.50%

    Yes Bank Property Loan Interest Rate for Business Man or Self Employed Person

    The interest rate for mortgage loans for Self-employed people are listed in the table:

    Interest Rate for Self-employed for Commercial Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 10.50%
    ₹ 30 Lakh - ₹ 75 Lakh 10.50%
    ₹ 75 Lakh - ₹ 2 Cr 10.50%
    Above ₹ 2 Cr 10.50%

    Interest Rate for Self-Employed for Residential Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 10.50%
    ₹ 30 Lakh - ₹ 75 Lakh 10.50%
    ₹ 75 Lakh - ₹ 2 Cr 10.50%
    Above ₹ 2 Cr 10.50%

    Steps to Apply for Yes Bank Loan Against Property

    Loan against property in Yes Bank can be availed through two ways online as well as offline. To apply online perform the following steps:-

    • Visit the official website of Yes Bank
    • Go to products
    • Select Loan Against Property
    • Check eligibility and interest rates and fees
    • Click on Apply Now
    • Fill the application form
    • Upload the required documents
    • Bank will do the verification
    • In 10-15 days loan amount will be sanctioned in your bank account

    You can also apply offline, through the following steps:-

    • Visit the nearest Yes Bank branch
    • Fill the loan against property form
    • Submit the required documents
    • Banks will do the verification and inform you if loan is approved or not
    • Once loan is approved you will receive the amount in your bank account
    Yes Bank Floating Rate Loan Against Property lap (LAP)

    As on 17 Jun, 2021, Yes Bank offers the lowest rate starting at 10.50%.

    Yes Bank Mortgage Loan Interest Rates
    Yes Bank Loan Against Property 10.50%
    Yes Bank Loan Against Property
    Loan AmountRate
    Upto ₹ 30 Lakh 10.50%
    ₹ 30 Lakh - ₹ 75 Lakh10.50%
    ₹ 75 Lakh - ₹ 2 Cr10.50%
    Above ₹ 2 Cr 10.50%

    Yes Bank Loan Against Property Rate Trends of Last 1 Year

    Last Updated Date Interest Rates
    01 Apr, 2021 10.50%
    31 Mar, 2021 10.50%

    Factors Affecting Property Loan Interest Rate Yes Bank

    Some of the factors that impact Yes Bank Loan Against Property rates are listed as follows:

    • Loan amount: Property loan rates in Yes Bank depend upon the loan amount you apply for. You can get a minimum loan of ₹ 10 Lakh from Yes Bank.
    • Your Net Monthly Income: Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity which will increase your eligibility for higher loan amount.
    • Type of loan opted for: Yes Bank offers differential rates for different profiles of customers and also fixed and floating rate schemes. Loan against property interest rates may be higher or lower for special loan products.
    • Type of property: Typically, loans against prime residential properties are easier to get and can be availed at the lowest rates compared to loans against commercial and industry properties.
    • Your profession: Yes Bank may charge a higher interest rate on a mortgage loan by a salaried person as compared to a self-employed professional or a businessman. A self employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or business compared to salaried people who who will most likely take a mortgage loan for his personal purposes.

    Yes Bank Loan Against Property lap Eligibility

    Yes Bank has detailed criteria to determine a potential borrower’s eligibility for mortgage loans. Some of the key criteria are:

    Eligibility Criteria Details
    Age 21 to 60 years
    Minimum Income ₹ 25,000
    Loan Amount ₹ 10 Lakh to ₹ 5 Cr
    Minimum years of business existence 3 years
    Minimum work experience 3 years
    Minimum Credit Score 650 and above
    Loan to Value Ratio Upto 50%
    FOIR (Fixed Obligations to Income Ratio) 0.65

    • Age: Age is one of the important factors to examine your eligibility. Yes Bank offers loans to salaried and self employed from the age of 21 years. Any person taking a loan at the age of 21, can get a loan of up to 15 years, thus reducing the burden on existing income and hence, improving loan amount eligibility.
    • Income: Property loan is mostly taken by self employed individuals primarily to meet their business requirements. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings.
    • Business Stability: Self employed person should be in business for a minimum of 3 years during which the business should be profitable.Yes Bank will ask for ITRs of 2 years to consider you as eligible for LAP.
    • CIBIL Score: Past CIBIL history and repayment record of existing loans and credit cards has adverse impact on your loan eligibility. If you have a poor repayment record, then you may find it difficult to get a loan. A regular repayment record not only improves your chances of getting a loan, but also increases your loan eligibility. Yes Bank grants loans to borrowers with a CIBIL score of 650 and above.
    • Loan Amount: Yes Bank gives you an amount ranging from ₹ 10 Lakh to ₹ 5 Cr. To improve chances of approval, apply for a loan amount that you can comfortably service.
    • Property Value: The value of the property to be mortgaged is used to calculate maximum loan eligibility based on the maximum permissible LTV ratio which can range upto 50% depending on the type of property. Yes Bank will conduct a detailed property assessment to establish that all legal titles are in place, assess the market value of the property, and its sale ability. LTV is calculated based on the estimated fair market value or registered value, whichever is lower.
    • Fixed Obligations to Income Ratio (FOIR): The bank will also calculate the proportion of your fixed obligations to your income to calculate the Fixed Obligations to Income Ratio, known as FOIR. Fixed obligations include estimated average monthly expenses and EMIs you are paying on other existing loans. Minimum FOIR to be eligible for a Yes Bank mortgage loan is 0.45.

    Yes Bank Mortgage Loan Eligibility Calculator

    Yes Bank Property Loan Eligibility is the amount of loan you can avail based on an assessment of your repayment capacity as well as the value of property. You can use Yes Bank LAP eligibility calculator to get a fairly accurate estimate of your potential eligibility subject to the information provided by you.

    Yes Bank Mortgage Loan Interest Rate and EMI Calculator

    You can also use online Yes Bank Loan against property EMI Calculator to calculate loan EMIs. EMI is a fixed amount that you are required to pay each month towards the repayment of your loan till the end of tenure

    • EMI calculator of Yes Bank helps you to calculate your monthly EMI at different rates of interest and also check and compare lowest EMI per lakh on LAP.
    • Higher the loan amount, higher the EMI. You can compare the estimated EMI with your monthly repayment capacity to decide on a level of EMI you can comfortably service without creating financial burden.
    • Loan tenure matters equally as higher loan tenure reduces your EMI.
    • Another factor which affects your EMI is the interest rate on the loan. Higher the interest rate, higher will be the EMI. However, your cumulative interest outgo will be significantly high in a longer tenure loan compared to a short tenure loan. Loan against property interest rate comparison of different banks will allow you to choose the cheapest loan and hence, improve your eligibility.

    What are the Benefits of Calculating Yes Bank Mortgage Loan EMI?

    • EMI calculator helps you to calculate your monthly EMI at different rate of interest
    • Yes Bank Mortgage loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
    • Getting an EMI estimate will help you ascertain the monthly EMI you can comfortably service, thus allowing you to choose the right combination of loan amount and loan tenure.
    Loan Against Property Top up, Transfer in Yes Bank

    Yes Bank offers mortgage loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Yes Bank.You can avail additional top-up loan against property from Yes Bank, subject to your eligibility.With Yes Bank Top up LAP loan, you can continue with your existing LAP loan at affordable interest rate, higher loan amount and convenient loan tenure.

    Loan Against Property Yes Bank Products

    Yes Bank offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

    Loan Against Property for Residential Use

    Description:
    • Yes Bank offers loan against property for residential use. The scheme offers balance transfer, top-up and overdraft facility.
      Who is Eligible?
      • Salaried individuals require a minimum income of Rs 3 lakhs per annum, with total work experience of at least 3 years
      • Self-employed applicants are expected to have a minimum turnover of Rs 15 lakhs for service providers, Rs 10 lakhs for self-employed doctors and Rs 60 lakhs for non-service providers
      • Further, a cash profit of Rs 4 lakhs per annum with a minimum business existence of three years is required for self-employed people.
      • Both salaried and self-employed people can take the loan.

      Property Mortgage Loan for Commercial Use

      Description:
      • Yes bank offers the property mortgage loan for commercial use to business people to enhance their business activities. The loan can be taken by keeping any residential or commercial property as a mortgage.
        Who is Eligible?
        • Applicants are expected to have a minimum turnover of Rs 15 lakhs for service providers, Rs 10 lakhs for self-employed doctors and Rs 60 lakhs for non-service providers.
        • Further, a cash profit of Rs 4 lakhs per annum with a minimum business existence of three years is required.
        • The loan can be taken by self-employed individuals and people involved in business activities.

        Yes Bank Loan Against Property Documents Required

        For Self-Employed

        • Filled up loan application form
        • 2 Passport Size Photo
        • ITR of last 2 years
        • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
        • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
        • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile
        For Salaried employee
        • Filled up loan application form
        • 2 Passport Size Photo
        • ITR of last 2 years
        • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
        • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
        • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit
        Property documents
        • Registered Sale Deed/ Conveyance/ Lease Deed
        • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
        • Latest House Tax Return/ Receipt
        • Approved Building Plan from Municipal Corporation

        FAQs

        What is Yes Banks loan against property interest rate?

        Yes Bank offers loan against property at a rate of 10.50% with the lowest EMI of ₹ 1,105. If you are currently paying a higher interest rate than Yes Bank rate, you can opt for balance transfer of loan to Yes Bank.

        How to increase my eligibility on Yes Bank Mortgage loan?

        If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get a loan.

        Do I get tax benefit on Loan against property from Yes Bank?

        There are no tax benefits available for loan against property.

        • Floating interest rate on Yes Bank property loan is linked to its 1 Year MCLR, which is currently 8.45%. So, when Yes Bank offers a loan against property at 10.50%, it applies a 2.05% premium to its MCLR to arrive at this rate.
        • When RBI increases rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new loan against property would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new loan account customers.

        Can I foreclose my Mortgage loan? What are the charges applicable?

        Yes, you can foreclose your loan anytime you want with Nil foreclosure charges.

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

        Yes Bank offers a maximum tenure of 15 years to repay your loan.You can choose the tenure for your LAP loan as per your convenience and repayment ability.

        What is the benchmark rate applicable for Mortgage loan?

        The benchmark rate applicable for property loans in Yes Bank is 1 Year MCLR

        Can I transfer my LAP from another bank to Yes Bank?

        Yes, Bank gives you the facility to transfer your existing loan with a hassle free process. Loan balance transfer to Yes Bank offers you to pay lower EMIs and save money.

        Can I club the income of my spouse with mine and apply for joint Property loan?

        Yes, you can club the income of your spouse to increase your loan eligibility.You can bring in your spouse as a co-owner of the property or guarantor of the loan.

        What is Yes Bank mortgage loan processing fees?

        The loan processing fee charged is 1.00% of the total loan amount.

        What is Yes Bank property loan procedure?

        You can apply for a Yes Bank property loan by contacting the bank directly or by approaching them through online marketplaces like MyLoanCare. Approaching the bank through an online marketplace improves the chances of getting best loan rates, low processing fees and special offers in the form of cash backs. Once you approach the bank, they will collect your documents and initiate the loan process which includes checking your CIBIL score, property valuation, technical and legal checks on property, eligibility calculation. The bank will give a decision on your loan based on the evaluation results.

        What security do I need to provide for Yes Bank Mortgage Loan?

        Yes Bank requires a registered mortgage of the property against which the bank will provide you a loan.

        • Property on which you intend to take loan is not vacant land, has an approved map plan and is in a municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
        • Your total EMIs on all loans and credit cards (from Yes Bank and other banks) are no more than 60 - 70% of your net monthly income.
        • You have not defaulted on loans or credit card dues to Yes Bank and other banks and all EMI's have been paid. Note that Yes Bank can see the record or status of your EMI defaults to all banks and NBFC’s in India and not just to Yes Bank in your CIBIL report. Estimate your CIBIL score for free for free by using CIBIL score estimate calculator
        • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan application
        • If you are self employed, your business must have been in existence for at least three years and last three income tax returns with audited financial must be available

        Are prepayment or foreclosure charges applicable on Yes Bank loan against property?

        You can prepay loan against property (LAP) without any penalty or charges in case:

        • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
        • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

        Yes Bank Loan Against Property Reviews 4.5/5  by 2 customers
        MyLoanCare Service
        4.5/5.0
        Banks Service
        4.5/5.0
        Rohit Rousha, Faridabad
        Reviewed on 11th Jul 2018
        5 / 5 stars
        Yes Bank Loan Against Property Availed in Jul 2018

        Awesome service... Special thanks to my executive who helped like a brother. I avail the LAP from thRead more...

        R.K UDAYAKUMAR, Chennai
        Reviewed on 11th Jul 2018
        4 / 5 stars
        Yes Bank Loan Against Property Availed in Jun 2018

        Thanks MyLoanCare.
        Yes Bank persons cooperate very wellRead more...

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        Yes Bank Loan Against Property 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.
        • 2020-02-03 : Revised MCLR for Yes Bank
          Private sector lender Yes Bank revised its MCLR and is in effect from February 1, 2020. The overnight MCLR is 7.90% and MCLR for one month stands at 8.75%. The three months MCLR is 9.20%, and Lending rates for six months is 9.40%. Further, one-year MCLR is 9.70%. The revised rates will impact Home Loans and Loan against property.
        • 2020-01-03 : Yes Bank MCLR remains unchanged
          Yes Bank will be functioning on the same lending rate as the previous month according to the notification as on 1 January 2020. The MCLR for overnight tenor stands at 7.90%, for one-month stands at 8.75%, for three months stands at 9.20%, for six months and one year it stands at 9.40% and 9.70%, respectively. The rate changes will impact the home loans and loan against property.
        *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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