YES Bank offers home loan to all applicants irrespective of them being salaried or self employed. YES Bank provides loan to the maximum amount of upto Rs. 35 lacs at an annual interest rate of 9.35% per annum to 13% per annum. YES bank offers loan tenure of repayment is up to 25 years. YES Bank provides you door step service to serve better. Here, you can avail Balance Transfer Facility also. The processing fee charged by YES Bank is 0.50% to 1% of the loan amount and minimum of Rs. 10,000. YES Bank offers 3 type of home loans YES Bank Home Loan, YES Bank Khushi Affordable Home Loan and YES Bank NRI Home Loan. YES Bank also offers you home loan if you are earning a monthly income of Rs. 9,000 and above which can help you in taking home loan easily.
YES Bank is a good fit for you if?
If You’re earning a monthly income of Rs. 9,000 or above – YES Bank offers home loans to those applicants who have the monthly income of Rs. 9,000 including the income of the spouse. Hence, it gets easy for the borrower to take the loan.
YES Bank Home Loan at a glance
| Annual Interest Rate | 9.35% – 13% |
| Loan Term | 1 Year – 35 Years |
| Loan Amount | Rs. 1 Lac – Rs. 35 Lacs |
| Time of Funding | |
| Pre-Payment Charges | Zero to 2.5% of the outstanding amount |
YES Bank provides you loan amount of minimum of Rs. 1 lac to maximum of Rs. 35 lacs at an annual interest rate of 9.35% per annum to 13% per annum. YES Bank offers you tenure to repay the loan amount from 1 year to 35 years. The prepayment charges for YES Bank are zero to 2.5% of the outstanding amount whole if you see Kotak Mahindra bank takes 4% of the outstanding amount as pre payment charges.
Why Choose YES Bank?
No Prepayment Charges on Floating Rate Loans – YES Bank has no prepayment charges applicable on home loans availed at floating rate of interest. Which means The YES BANK does not levy any foreclosure or pre- payment charges under the floating rate of interest.
Doorstep Service – YES Bank offers doorstep service to the borrower to help out in loan application and document collection. So you don’t need to bother for documentation things or going to bank.
Top-Up on Balance Transfer – YES bank also gives applicant the option of availing Balance Transfer facility. In this you can avail additional funds while transferring your existing home loan from other banks to YES Bank.
What to watch out for?
Processing Fee Amount not Entirely Refundable on Loan Cancellation – On loan cancellation YES Bank doesn’t refunds the processing fee charges . which means Rs. 7,500 out of paid Processing fee amount will not be refunded if you deny to take the disbursal.
Prepayment Charges on Fixed Rate Loans – YES Bank takes Prepayment charges equal to 2.5% of the principal outstanding amount which is only applicable only on home loans availed at fixed rate of interest.
High Processing Charges – YES Bank has very high processing charges. The Minimum processing charges a borrower has to pay is Rs. 10,000 regardless the home loan is as low as Rs. 1 Lac.
High Interest Rates – Interest rate for YES Bank Home Loan starts from 9.35% per annum as compared to other competing banks such as Canara Bank offering as low as 8.65% per annum and TATA Capital starting as low as 8.35% per annum.
Compare YES Bank Home Loans to Other Banks
| Bank Name | YES Bank | Tata Capital | Axis Bank |
| Typical APR | 9.35% – 13% | 8.35% – 915% | 8.50% – 12.50% |
| Loan Term | 1 Year – 35 Years | 1 Year – 30 Years | 1 Year – 30 Years |
| Maximum Lending Amount | Rs. 35 Lacs | Rs. 10 Crores | Rs. 15 Crores |
| Processing Fee | 0.50% to 1% of the loan amountMin Rs. 10,000 | 0.50% of the loan amount | Up to 1% of the loan amountMin Rs. 10,000 |
| Time to Funding | |||
| Pre-Closure | Zero to 2.5% of the outstanding amount | Zero to 2% of the outstanding amount | Zero to 2% of the outstanding amount |
Coming to the comparison part, if we compare YES Bank with other banks then YES Bank provides you the maximum loan amount of Rs. 35 lacs at an annual interest rate of 9.35% per annum to 13% per annum, while Tata Capital bank provides you Rs. 10 crores as the maximum loan amount at an annual interest rate of 8.35% per annum to 915% per annum and Axis Bank provides the maximum loan amount of Rs. 15 crores at an annual interest rate of 8.50% per annum to 12.50% per annum. YES Bank offers you tenure to repay the loan amount from 1 year to 35 years, Tata Capital offers tenure of 1 year to 30 years while Axis Bank offers tenure for the repayment of loan amount from 1 year to 30 years.
The processing fee charged by YES Bank is 0.50% to 1% of the loan amount and minimum of Rs. 10,000 while Tata Capital charges you 0.50% of the loan amount as processing charges and Axis Bank charges you upto 1% of the loan amount and minimum of Rs. 10,000 as processing fee. YES Bank pre closure charges are zero to 2.5% of the outstanding amount , Tata Capital charges you zero to 2% of the outstanding amount as pre closure charge and Axis Bank also takes zero to 2% of the outstanding amount as pre closure charges.
Am I Eligible?
- Age of a Salaried applicant should not be more than 62 years at the time of loan maturity.
- Age of a Self-Employed applicant should not be more than 65 years at the time of loan maturity.
- Applicant should have a minimum monthly income of Rs. 9,000.
Loan Offerings
YES Bank Home Loan
YES Bank Home Loan provides you Home Loan for Purchase a house and renovation and repair of your home. YES Bank gives Home loan for both Self-Employed and Salaried. YES Bank Home Loan provides you loan at minimum amount of Rs. 1 lac and maximum of Rs. 35 lacs at an annual interest rate ranging from 9.35% to 10.50% per annum. YES Bank offers tenure to repay the loan amount of up to 35 years.
Document required for Salaried:
- Copy of PAN Card or Form 60
- Last 2 years Salary Slip along with Form 16 / ITR.
- Last 6 months bank account statement where salary is being credited.
- Loan Application with Aadhar ID, KYC Details and photograph.
Document required for Self-Employed:
- Copy of PAN Card or Form 60
- Last 2 years ITR along with computation of total income, audited Balance Sheet and Profit & Loss account including tax audit report if applicable and proof of turnover vide latest sales / service tax returns
- Qualification Proof
- Last 6 months statement of business account.
- Loan Application with Aadhar ID, KYC Details and photograph.
YES Bank Khushi Affordable Home Loan
In YES Bank Khushi Affordable Home Loan you can avail funds from minimum Rs. 1 Lac up to Rs. 35 Lacs where property value is up to Rs. 45 Lacs at locations with 10 Lacs or above population. And can also avail funds from minimum Rs. 1 Lac to up to Rs. 25 Lacs where property value is up to Rs. 30 Lacs at locations with less than 10 Lacs population. YES Bank Khushi Affordable Home Loan provides home loans for purchase of ready property, under-construction, resale, plot plus construction, repair, renovation, extension, improvement, self construction ,top up loans (in case of Balance Transfer) and Balance Transfer. The interest rate charged by YES Bank Khushi Affordable Home Loan ranges from 10.25% per annum to 13% per annum. And the tenure to repay the loan amount is up to 35 years for salaried and maximum 30 years for self-employed.
YES Bank NRI Home Loan
YES Bank NRI Home Loan provides Home Loan for Purchase a house and renovation and repair of your home for both Self-Employed and Salaried. At an interest rate ranging from 9.35% per annum to 10.50% per annum. YES Bank NRI Home Loan offers tenure to repay the loan for upto 35 years.
Documents required for Salaried NRIs:
- Proof of Identity and Signature
- Proof of Address (Office and Residence)
- 2 Latest salary slips and IT Returns / Form 16 for last 2 years.
- Last 6 months bank statement of salary / main operating bank account
- Details of all existing loans.
- Copies of all property documents
Documents required for Self-Employed NRIs (Professionals):
- Proof of Identity and Signature
- Proof of Address (Office and Residence)
- Last 2 years IT Returns with computation of income, audited Balance Sheet and Profit & Loss account including tax audit report if applicable and proof of turnover vide latest sales / service tax returns.
- Last 6 months bank statement of salary / main operating bank account
- Details of all existing loans.
- Copies of all property documents
Documents required for Self-Employed NRIs (Businessmen):
- Proof of Identity and Signature
- Proof of Address (Office and Residence)
- Last 2 years IT Returns with computation of income, audited Balance Sheet and Profit & Loss account including tax audit report if applicable and proof of turnover vide latest sales / service tax returns.
- Last 6 months bank statement of salary / main operating bank account
- Details of all existing loans.
- Copies of all property documents
Additional Documents in case of Partnership Firms:
- Partnership Deed
Additional Documents in case of Private / Public Limited Company:
- Memorandum & Article of Association and List of Directors & Shareholder
YES Bank Home Loan Rate of Interest
| Home Loan Type | Applicable Interest Rate |
| YES Bank Home Loan | 9.35% – 10.50% per annum |
| YES Bank Khushi Affordable Home Loan | 10.25% – 13% per annum |
| YES Bank NRI Home Loan | 9.35% – 10.50% per annum |
How to Apply for YES Bank Home Loan?
At Paisa
- Check the loan offer which is best for you and click on apply now
- Fill the required details
- Choose the loan you want to take
- Submit the details
At YES Bank
- Visit the nearest branch of the bank along with the loan application form.
- Click here to download application form to apply at YES Bank. For NRIs, click here to download the application form.
- Fill up the mandatory details.
- Submit your details.
After I Apply?
Check Home Loan Status through customer care
- Call on 1800-419-1717 and wait for the IVR instructions,
- They will ask you if you want information on retail press 1 if for loans press 2
- And they will transfer your call to customer care executive.
Once I’m Approved?
Check Loan Agreement Letter
- Click here to check a sample loan agreement letter.
Fees & Penalties
| Type of Charges | Applicable Charges |
| Processing Charges | For Home Loan:0.5% of the loan amountMinimum Rs. 10,000 For Khushi Affordable Home Loan:1% of the loan amountMinimum Rs. 10,000 |
| Foreclosure Charges | NilFor Floating Rate Loans 2.5% of the balance amountFor Fixed Rate Loans |
| Part-payment ChargesAllowed once in a year | NilFor Floating Rate Loans 2.5% of the balance amountFor Fixed Rate Loans |
| Penal Charges | 2% per month on the overdue amount |
| Swap Charges | Rs. 500 |
| EMI Bounce Charges | Rs. 750 per instance |
| Account Statement Charges | Rs. 100 per request |
| Prepayment Statement Charges | Rs. 100 per request |
| Duplicate NOC | Rs. 100 per request |
| Loan Cancellation / Rebooking Charges | Rs. 2000 |
| Interest Rate Switching Charges | 0.5% of the balanced amountFor switching from floating to fixed rate loans 1% of the balanced amountFor switching from fixed to floating rate loans |
| Conversion Charges | 0.5% of the balanced amountFor switching from high floating interest rate to low floating rate 1% of the balanced amountFor switching from high fixed interest rate to low fixed rate |
| EMI Cycle Date Change | Rs. 500 |
YES Bank processing fee charges for home loan are 0.5% of the loan amount and Minimum of Rs. 10,000. And for Khushi Affordable Home Loan processing charges are 1% of the loan amount and minimum of Rs. 10,000. YES Bank takes nil foreclosure charges on floating rate loans and 2.5% of the balance amount for fixed rate loans. The are nil part payment (allowed once in a year) charges for floating rate loans and 2.5% of the balance amount for fixed rate loans. YES Bank takes penal charges of 2% per month on the overdue amount.
YES bank take rs. 500 as swap charges and Rs. 750 per instance as EMI bounce charges. The account statement charges, prepayment statement charges and Duplicate NOC charges charged by YES Bank are Rs. 100 per request. Loan cancellation/rebooking charges charged by YES Bank are Rs. 2000. YES Bank takes interest rate switching charges as 0.5% of the balanced amount for switching from floating to fixed rate loans and 1% of the balanced amount for switching from high fixed interest rate to low fixed rate. If you want to change EMI cycle date then Rs. 500 is charged.
FAQs
YES Bank Customer Support?
You can call on 1800-419-1717 or can email us at loans@yesbank.in . you can write us at YES BANK Limited, 48, Nyaya Marg, Chanakyapuri, New Delhi – 110021, India
Who can be my co-applicant for home loan?
All co-owners of the property being mortgaged must be the co-applicant in the loan application. Apart from it, your spouse can be your co-applicant.
What are the projects approved by YES Bank?
Check here the list of approved projects by YES Bank.
What is the minimum size of property are for which I can avail funds?
Minimum 200 sqft under Khushi Affordable Home Loan.