A yes bank home loan is a great way to fulfil your dreams of owning a house. In this blog post, we’ll look at everything you need to know about Yes Bank Home Loans, including the interest rates, documents required, and how to apply.
YES Bank Home Loan Highlights
| Interest Rate | 8.95% p.a. onward |
| Loan Amount | Up to Rs 10 crore |
| Loan Tenure | Up to 35 years |
| Processing Charges | Up to 2% or Rs. 10,000 (whichever is higher) |
Introduction
Yes Bank is one of India’s leading banks and offers a range of home loan products to suit your needs. One of the great things about Yes Bank Home Loans is the competitive interest rates on offer. Rates start at just 8.95% p.a., which makes Yes Bank one of the most attractive options on the market.
You can avail of a loan amount of a minimum of Rs 10 lakh and a maximum of Rs 10 crore. You can also choose to repay your loan in monthly installments, over a period of up to 35 years. Whether you’re a first-time buyer or looking to refinance your existing home loan, Yes Bank has a loan option for you.
YES Bank Home Loan Interest Rates
YES Bank offers home loan interest rates starting at 8.95% p.a. with a special rate of 8.90% p.a. for women borrowers. YES Bank home loan interest rates are among the lowest in the market and offer great value for money to borrowers.
| Type of Loan | Interest Rate (p.a.) |
|---|---|
| YES Bank Regular Housing Loan | 8.95% to11.80% |
| YES Khushi Home Loan | 10.25% to 12.00% |
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YES Bank Home Loan EMI Calculator
If you’re looking to take out a home loan with YES Bank, then you’ll need to use the below-given home loan EMI calculator. This calculator is a great tool to help you budget and plan for your home loan repayments. Simply input your loan amount, interest rate, and repayment period, and the calculator will do the rest.
Types of YES Bank Home Loan
If you’re considering a YES Bank home loan, you’ll need to decide which type of loan is right for you. YES Bank offers several different types of home loans. Here’s a quick overview of the different kinds of YES Bank home loans:
1. Home Purchase Loan
YES Bank offers home loans for the purchase of a new home. The loan can be used for either a new primary residence or a second home.
2. YES Khushi Home Loans
It can be an affordable loan for housing for those with low or no income proof with no restrictions on job profile or field of work. YES Khushi Home Loan is available for homes that measure from 200 square. feet. up to (including 1 RK for studios or a large house). The home loan scheme may be utilized for the purpose of availing of the balance transfer or top-up home loan options.
- Loan Amount: starting at Rs 1 lakh
- Income: at least Rs 9,000 per month.
3. Home Improvement Loan
YES Bank offers special home loans for home improvement at attractive interest rates. With flexible repayment options, you can choose a tenure and repayment plan that suits your budget.
So, whether you want to add an extra room, renovate your kitchen or give your home a complete makeover, YES Bank Home Loan for Home Improvement is the ideal solution.
4. Self-construction Home Loan
Are you looking to finance the construction of your dream home? YES Bank has a home loan solution for you – Self-Construction Home Loan. With this loan, you can finance the cost of constructing your own home, from buying the land to building the structure.
5. Top-up Home Loan
A Top-up Home Loan offer is available for existing home loan customers of the bank. The loan can be used for a variety of purposes, including home renovations, education expenses, or even personal emergencies.
6. Home Loan Balance Transfer
YES Bank offers a home loan balance transfer facility that allows you to transfer your outstanding home loan from another bank to YES Bank. The process is simple and convenient and can help you save on interest costs.
YES Bank Home Loan Eligibility
The home loan eligibility criteria for YES Bank is as follows:
| Eligible Applicants | Salaried individuals Self-employed individuals NRIs |
| Age | 21 to 70 years |
| Work Experience | 2 years for salaried 3 years business stability for self-employed |
YES Bank Home Loan Documents Required
If you are looking to take out a home loan from YES Bank, you will need to provide some documentation. Here is a list of the documents that you will need to provide:
- A completed application form
- Two recent passport-size photographs
- Identity Proof: Aadhar Card, PAN Card, Passport or another travel document with a photo.
- Address Proof: Voter ID card, driving license, property deed.
- Bank Statement: Last 06 Month Bank Statement from the operative account.
For Salaried Individuals
- Proof of Income: Last 2 years’ Salary Slip and IT returns/ Form 16.
For Self-Employed Individuals
- Proof of Income: 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.
- Qualification proof is applicable
- Title document of the property along with business address proof.
How to Apply for YES Bank Home Loan
Here we will take you through the entire process of applying for a home loan with YES Bank, from start to finish.
- Start by using the bank’s online application form. You’ll need to provide some basic information, including your name, address, and contact details.
- Once you’ve completed the application, you’ll be required to submit supporting documents, such as your payslips and bank statements.
- Next, you’ll need to undergo a credit check. This will determine your eligibility for a home loan, and it’ll also assess your creditworthiness.
- If everything looks good, then you can finalize the loan agreement and start making payments.
Yes Bank Home Loan Customer Care
The Yes Bank home loan customer care team is available 24/7 to help you with any questions or concerns you may have about your loan. They can help you with everything from questions about your payments to helping you find a lower interest rate. No matter what your question is, the Yes Bank home loan customer care team will be able to help you out.
- Call at 1800-419-1717
- Message YES HL to 9223390909
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FAQs
Q. Does YES Bank offer any discounts or special offers for home loans?
Ans. Yes, the YES bank offers a 0.5% concession in interest rates to women applicants.
Q. What is the minimum loan amount that I can apply for?
Ans. The minimum loan amount you can apply for through YES Bank is Rs 10 lakh. However, there are a few exceptions to this rule – for instance, if you are eligible for the Pradhan Mantri Fasal Bima Yojana (PMFBY), then the minimum loan amount you can apply for is Rs 5 lakh. Additionally, depending on your income and credit score, you may be able to get a lower-minimum loan amount.
Q. How long does it take to get approved for a YES Bank home loan?
Ans. It typically takes around two weeks to get approved for a YES Bank home loan. However, this time period can vary depending on your individual circumstances. If you have good credit and have been laid off or unemployed recently, you may be approved sooner. Conversely, if you have lower credit scores or have had trouble paying off debt in the past, it may take longer to get approved.
Conclusion
A Yes Bank home loan is a great option for anyone looking to finance their dream home. The interest rate is competitive and the process is simple and straightforward. Plus, with the added benefit of a fixed interest rate, you can be sure that your repayments will remain affordable throughout the life of your loan. So if you’re ready to take the next step towards owning your own home, be sure to check out Yes Bank’s home loan options.
