YES Bank Home Loan
Headquartered in Mumbai, YES Bank is a prominent private sector bank in India that offers a wide range of financial products and services, and home loan is one of them. YES Bank home loan starts at 9.40% per annum and goes up to 10.25% per annum, depending on the scheme chosen by the borrower and other eligibility factors. The processing fee for a YES Bank housing loan is 1.5% of the loan amount or Rs. 10000, whichever is higher, and GST additional. YES Khushi home loan is one of the most popular offerings of the bank, with easy repayment options and affordable interest rates. The bank offers home loan schemes to salaried, self-employed, and NRIs.
YES Bank Home Loan EMI Calculator
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YES Bank Home Loan Highlights
Get the lowest interest rates with YES Bank
| Loan Amount | Up to Rs. 10 crores |
|---|---|
| Rate of Interest | 9.40% - 10.25% per annum |
| RPLR | |
| Processing Fee |
1.5% of the loan amount or Rs. 10000, whichever is higher + GST |
| Maximum Tenure for Repayment | 35 years |
| Penal Rate of Interest | |
| Rate Packages | Fixed/ Floater |
| Charges for Prepayment/Foreclosure | Floater- Nil | Fixed - 2.5% on the outstanding loan amount |
YES Bank Home Loan Interest Rates in 2024
Banks offer home loans because they profit from these by charging a fixed interest on the total loan amount. YES Bank home loan interest rate starts at 9.40% per annum and goes up to 12.50% per annum for different home loan schemes. The table below enlists YES Bank Housing Loan interest rates 2023:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| YES Bank Regular Home Loan Scheme | 9.40% - 10.25% per annum |
| YES Khushi Home Loan Scheme | 10.50% - 12.50% per annum |
Interest rates were last updated on 31st August 2023
YES Bank Home Loan Eligibility Criteria
YES Bank has some pre-determined eligibility criteria for applicants seeking a home loan. These are based on the borrower's age, nationality, work experience and repayment capacity. The table below enlists the YES Bank home loan eligibility criteria for your reference:
| Eligibility Parameters | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
| Age Range (in years) | 21 - 60 Years | 21 - 60 Years |
| Nationality | Indian Residents/ NRIs | Indian Residents/ NRIs |
| Minimum Income Earned | Nothing Specific | Nothing Specific |
YES Bank Home Loan Processing Fees and Charges
To process each home loan application, YES Bank charges a processing fee of 1.5% of the loan amount or Rs. 10000, whichever is higher and additional GST charges. The table below enlists the updated YES Bank home loan processing fees and charges for 2023:
| Processing Fee | 1.5% of the loan amount or Rs. 10000, whichever is higher + GST |
|---|---|
| Document Retrieval Charges | Rs. 500 per instance |
| Charges for Providing Document List (LOD) | Rs. 500 per instance |
| Login Fee | Rs. 5000 |
| Cheque Bounce Charges | Rs. 750 per instance |
| Property Swapping Charges | 0.1% of the loan outstanding subject to a minimum of Rs. 10000 |
| EMI Cycle Date Change Charges | Rs. 500 per instance |
| Rate Package Conversion Charges |
|
| Loan Cancellation Charges | Rs. 2000 |
| Late Fee/ Penal Charges | As per the contractual rate for overdue amounts/ the period after 30 days grace period |
| Foreclosure Charges |
|
| Foreclosure Statement Charges | Rs. 100 per instance |
| No Objection Certificate (NOC) | Rs. 100 per certificate |
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YES Bank Home Loan Schemes and Top Plans
YES Bank offers a wide range of home loan plans and schemes at various interest rates for salaried, self-employed, and NRIs.
1. Home Purchase Loan for New or Resale Property
- Best home loan scheme for those keen to purchase a new home or resale property
- Hassle-free and quick loan approvals
- Maximum loan amount up to Rs. 10 crores
2. Plot Plus Construction or Self-Construction Loan
- Ideal for borrowers who want to buy a plot and construct a home on it
- Tailor-made home loans with maximum loan repayment tenure of 35 years
- Low-interest rates
3. Home Improvement/ Renovation/ Extension/ Repair Loan
- Ideal for those keen to renovate, extend or repair an existing home
- Loan amounts starting at Rs. 10 lakhs up to Rs. 10 crores
- Quick loan disbursal
4. YES Khushi Home Loan
- Ideal for salaried, self-employed, and NRI applicants, but the co-applicant should be an Indian Resident
- Minimum monthly income Rs. 9000
- Flexible repayment options
- Easy balance transfer option
- Quick top-up facility available
5. Balance Transfer Home Loan with Top-Up
- Flexible balance transfer facility of home loans from other banks
- Feature to avail Top-up facility
- Quick approvals with minimum documentation
6. Top-Up Loan
- Easy top-up facility on an existing home loan with YES Bank
- Borrower should have a satisfactory repayment history
- Offered to applicants who have applied for a home loan from YES Bank and not just only a top-up scheme
Note: All of the above home loan plans are made available to applicants solely at the discretion of YES Bank, taking into consideration the earning and repayment capacity of the applicant.
Get Home Loan Starting at 8.5% Interest Rate from BASIC Home Loan
Documents Required For YES Bank Home Loan
YES Bank asks for a certain set of KYC documents to grant you home loans. Have a look at the YES Bank home loan documents required list and arrange for the same before applying for a housing loan:
Documents Required for Salaried Applicants
- Salary Slip for the last 3 months
- Form 16
- Bank Passbook or Statements for the last 6 months
- Income Tax Returns for the last 2 years
- Duly filled and signed application form
- Passport-size photographs
- Processing fee cheque in favour of YES Bank
Documents Required for Self-Employed Applicants
- Profit and loss account statements with audited balance sheet
- Bank Passbook or Statements for the last 6 months
- Income Tax Returns for the last 2 years
- Duly filled and signed application form
- Passport-size photographs
- Processing fee cheque in favour of YES Bank
Common Documents Required from Both Salaried and Self-Employed Applicants
| Type of Document | Documents Required |
|---|---|
| Identity & Address Proof | Voter ID, Driving License, Aadhaar Card, Copy of Passport, PAN Card |
| Documents Related to Property |
|
Interest rates were last updated on 15 July 2023
Find YES Bank Home Loan Offices Near You
If you are planning to visit one of the offices of YES Bank Home Loan near you to understand the YES Bank Home Loan Offer in details and apply for the Home Loan, you can simply fill in the Free Consultation form and the team of BASIC Home Loan will reach out to you for needful assistance in the process.
For the latest Home Loan Interest rates and updates in Eligibility criteria, Home Loan offers, Home Loan application Fee and Charges, Required Documents and other FAQs related to Home Loans, please refer to the YES Bank official website.
FAQs
The current YES Bank home loan interest rate 2023 starts from 9.40% and might go up to 10.25% per annum. However, we suggest verifying the same from the bank's official website.
Borrowers can enjoy the following benefits of YES Bank home loans:
- Attractive interest rates
- Loan tenure of up to 35 years
- Hassle-free home loans with minimum paperwork
- Easy balance transfer facility
- Up to 100% Top-up to home loan rate for immediate funding
- Doorstep service
Here are the eligibility criteria to apply for a YES Bank home loan:
- Age - 21 years - 60 years
- Nationality - Indian Residents/ NRIs
- Work Experience - 2 years (Salaried)/ 3 years (Self-Employed)
YES Bank doesn’t charge any foreclosure fee for floater-rate home loans. It charges 2.5% on the outstanding loan amount for fixed-rate home loans.
An applicant can check the YES Bank home loan status by visiting the nearest bank branch and contacting the customer care representative. Alternatively, one can check the YES Bank home loan status online by visiting the bank’s official website.
The maximum loan repayment tenure for a YES Bank housing loan is up to 35 years.
Yes, a borrower can apply for a home loan from YES Bank to purchase a new property. Besides, YES Bank also offers home loan schemes for renovation/improvement of an existing home, and for purchase of a plot.
A borrower can apply for a YES Bank home loan starting from Rs. 10 lakhs up to Rs. 10 crores. However, this depends on the eligibility criteria and plan chosen by the borrower.