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Yes Bank Loan Against Property

Yes Bank Mortgage Loan Interest Rates 2022

Last Updated 04th May 2022

Yes Bank is one of the largest Private Bank in the country that offers the lowest rates on loan against property. Currently, the bank offers loans starting from 8.95% with quick approval and online process. The bank offers special features and attractive rates for different income and occupation groups. Some of the key features of Yes Bank Loan against property are mentioned below: Check Best Offers

Interest Rates 8.95% to 8.95%
Processing Fee Upto 2.00%
Max Tenure 15 years
Lowest EMI per lakh ₹ 1,011
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
    Apply for Loan Against Property @ 6.90%* Get upto ₹ 1,000* Voucher

    Yes Bank Loan Against Property

    Yes Bank offers loan against property to meet your business and personal needs against the mortgage of your existing residential or commercial 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

    Along with Yes Bank Loan against Property Rates, Yes Bank also charges various fees and charges when a borrower takes a loan against property:-

    • Processing Fee on Yes Bank Loan against Property Loan is 2.00%. 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.

    Loan Against Property Interest Rates in Yes Bank for Salaried Employees

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

    Interest Rate for Salaried for Residential Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 8.95%
    ₹ 30 Lakh - ₹ 75 Lakh 8.95%
    ₹ 75 Lakh - ₹ 2 Cr 8.95%
    Above ₹ 2 Cr 8.95%

    Interest Rate for Salaried for Commercial Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 8.95%
    ₹ 30 Lakh - ₹ 75 Lakh 8.95%
    ₹ 75 Lakh - ₹ 2 Cr 8.95%
    Above ₹ 2 Cr 8.95%

    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 Residential Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 8.95%
    ₹ 30 Lakh - ₹ 75 Lakh 8.95%
    ₹ 75 Lakh - ₹ 2 Cr 8.95%
    Above ₹ 2 Cr 8.95%

    Interest Rate for Self-employed for Commercial Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 8.95%
    ₹ 30 Lakh - ₹ 75 Lakh 8.95%
    ₹ 75 Lakh - ₹ 2 Cr 8.95%
    Above ₹ 2 Cr 8.95%

    Steps to Apply for Yes Bank Loan Against Property

    Apply With MyLoancare

    To get the best offers on SBI Loan against Property, you can apply for a Loan against Property at MyLoanCare. The online marketplace helps you compare the best offers, check eligibility, calculate EMI. To apply for a loan against property click here

    Apply With SBI Website

    • You can also apply for SBI Loan against Property with SBI through online and offline modes.
    • To apply for a loan offline, visit the official SBI bank branch and fill out the application form along with the required documents for a loan against property.
    • The bank will then complete the verification process and will sanction the loan on loan approval. Once the loan is approved, you will receive the amount in your bank account.
    • To apply online for SBI Loan against Property online, visit the official website of SBI and navigate to Loan Against Property.
    • Before applying, now check your eligibility for SBI Loan against Property. If you are satisfied and have cross verified all the details, fill out the application form and upload the required documents.
    • On successful verification, the bank will sanction the loan amount in 10-15 days.

    Compare Yes Bank Loan Against Property Interest Rate with Top Banks

    Yes Bank offers multiple schemes for loan against property at affordable interest rates. However, you must compare SBI and other bank’s home loan rates before applying:-

    Particulars Yes Bank SBI HDFC
    Interest Rate 8.95% - 8.95% 8.80% - 13.10% 7.65% - 8.80%
    Processing Fees Upto 2.00%
    Min ₹ 10,000
    Upto 1.00%
    Max ₹ 50,000
    Upto 0.50%
    Min ₹ 7,500
    Loan Tenure 15 Years 10 Years 15 Years
    Maximum Loan Amount ₹ 5 Cr ₹ 7.50 Cr ₹ 5 Cr
    Age Min 23 and Max 65 years Min 18 and Max 70 years Min 24 and Max 65 years
    Benchmark Rate 1_year MCLR RLLR PLR
    Lowest EMI Per Lakh ₹ 1,011 per lakh ₹ 1,256 per lakh ₹ 936 per lakh
    Yes Bank Floating Rate on Loan Against Property

    As on 18 May, 2022, Yes Bank offers the lowest rate starting at 8.95%. Yes Bank Loan against property rates have been dropped by 1.55%, from the earlier rate of 10.50% with effect from 22 Jun, 2021.

    Yes Bank Mortgage Loan Interest Rates
    Yes Bank Loan Against Property 8.95%
    Yes Bank Loan Against Property
    Loan AmountCurrent Loan against Property Rates
    Upto ₹ 30 Lakh 8.95%
    ₹ 30 Lakh - ₹ 75 Lakh8.95%
    ₹ 75 Lakh - ₹ 2 Cr8.95%
    Above ₹ 2 Cr 8.95%

    Yes Bank Loan Against Property Rate Trends of Last 1 Year

    Last Updated Date Interest Rates
    22 Jun, 2021 8.95%

    Factors Affecting Yes Bank Loan against Property Interest Rates

    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. 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 increasing your eligibility for a higher loan amount.
    • Type of loan opted for: Yes Bank offers differential rates for customers' different profiles, for 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 can be availed easily at the lowest rates compared to loans against commercial and industrial properties.
    • Your profession: Yes Bank may charge a higher interest rate on a mortgage loan to a salaried person than 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 will most likely take a mortgage loan for his personal purposes.

    Yes Bank Loan Against Property Eligibility Criteria

    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

    Yes Bank Mortgage Loan Interest Rate and EMI Calculator

    You can use an online Yes Bank Loan against property EMI Calculator to calculate loan EMIs at different rates of interest and check and compare the lowest EMI per lakh on Loan against Property. Higher the interest rate, higher will be the EMI. However, your cumulative interest outgo will be significantly higher in a longer tenure loan than a short tenure loan.

    Loan Against Property Top up, Transfer in Yes Bank

    Yes Bank offers mortgage loan balance transfer from another bank, subject to your meeting other eligibility criteria of Yes Bank at an affordable interest rate, higher loan amount and convenient loan tenure. Yes Bank loan against property balance transfer helps you make your loan repayment convenient and opt for a beer customer service. Current loan against property balance transfer rates in Yes Bank are 8.95%. Along with that, you can also avail of additional top-up on your loan against property.

    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

    • Yes Bank offers loan against property for residential use. The scheme offers balance transfer, top-up and overdraft facility.
      • 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

      • 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.
        • 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

        Check Loan Against Property Interest Rate in Major Banks

        FAQs

        What is Yes Banks loan against property interest rate?

        Yes Bank offers loan against property at a rate of 8.95% with the lowest EMI of ₹ 1,011. If you are currently paying a higher interest rate than the Yes Bank rate, you can opt for a balance transfer of loan to Yes Bank.

        Did Yes Bank Loan against property rates drop?

        Yes, Yes Bank loan against property rates has decreased by 1.55% from the previous rate of 10.50% to 8.95%. The lowest mortgage rates of Yes Bank are effective from 22 Jun, 2021.

        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.

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

        Yes, you can foreclose your Yes Bank loan against property 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 Loan against Property 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 and enables you to choose better customer service, if you are not satisfied with your existing bank. Current Balance transfer rates in Yes Bank are 8.95%.

        What is Yes Bank mortgage loan processing fees?

        The loan processing fee charged is 2.00% of the total loan amount.

        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 a 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 a loan against property 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 - May 2022
        • 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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