Choosing a lender that can give the lowest possible rate is the first choice of a home loan borrower. At YES BANK, the maximum tenure you can get for a home loan is 30 years and it is your choice. If you choose a longer tenure period, your EMIs will be lower; if the tenure period is shorter, you will have to pay more EMIs. The interest rate, loan amount, and tenure altogether decide the EMI.
YES BANK Home Loan Interest Rate February 2025
Below is the table showing the interest rate, tenure, and loan amount applicable to YES BANK home loans. You may also note the processing fee applicable which includes 18% GST.
| Particulars | Details |
|---|---|
Interest Rates | 9.00% to 12.00% p.a. |
Loan Amount | Up to 10 Crore |
Tenure | Up to 35 Years |
Processing Fee | 2% of the loan amount or INR 10,000, whichever is higher, plus GST |
Features and Benefits of YES Bank Home Loan
These are the benefits and features of YES Bank Home Loan -
- Enhanced Eligibility - Customized home loan solutions designed specifically for self-employed individuals to maximize loan eligibility.
- Balance Transfer Facility - Looking for better terms on your existing home loan? Transfer your home loan to YES Bank and enjoy lower interest rates with flexible repayment options.
- Flexible Tenure - YES Bank offers home loan repayment tenures of up to 35 years, ensuring manageable EMIs tailored to your financial needs.
- Flexible Loan Amount - Avail home loans up to INR 10 crore, providing financial flexibility to meet your housing aspirations.
Factors Affecting YES Bank Home Loan Interest Rate
Here is the explanation of how these factors influence YES Bank home loan interest rates:
- Credit Score or CIBIL Score
Your credit score, also known as your CIBIL score, is a crucial factor in determining the interest rate on your YES Bank home loan. A high credit score (typically 750 and above) indicates strong creditworthiness, reducing the lender's risk and making you eligible for lower interest rates. - Type of Interest
YES Bank offers home loans with either fixed or floating interest rates. Fixed interest rates remain constant throughout the loan tenure, providing stability in EMI payments but often come at a slightly higher rate. Floating interest rates, on the other hand, fluctuate based on market conditions and RBI policies, which could lead to lower rates in favorable market conditions but also carry the risk of rising rates. - Job Security
Lenders consider job stability and employment history when determining home loan interest rates. Applicants with stable employment in reputed organizations or government jobs are perceived as lower-risk borrowers, often securing loans at better interest rates. - Loan-to-Value (LTV) Ratio
The Loan-to-Value (LTV) ratio indicates the proportion of a property's value that the bank is willing to finance. A lower LTV ratio (i.e., a higher down payment by the borrower) reduces the lender's risk, potentially resulting in a lower interest rate. On the contrary, a higher LTV ratio means the bank is financing a larger portion of the property's cost, leading to a higher interest rate due to increased risk. - Property Location and Type
The location and type of property also play a significant role in determining home loan interest rates. Properties situated in prime locations with good infrastructure and high resale value are considered less risky, leading to favorable interest rates.
How to Calculate EMIs Of YES Bank Home Loans at Different Interest Rates?
EMI Calculator is the best method to calculate your monthly EMIs on your loan amount. Wishfin YES Bank Home Loan EMI Calculator is here to solve your problem.
You just need to enter three details -
- Loan Amount
- Tenure
- Interest Rate
Understand this simple example, where the home loan amount is Rs. 20,00,000 for up to 30 years with interest rates starting from 9.00% up to 12.00% p.a.
| Tenure (In Years) | EMI (at 9.00% interest rate) | EMI (at 12.00% interest rate) |
|---|---|---|
5 | ₹ 51,895.89 | ₹ 55,611.12 |
10 | ₹ 31,668.94 | ₹ 35,867.74 |
15 | ₹ 25,356.66 | ₹ 30,004.20 |
20 | ₹ 22,493.15 | ₹ 27,527.15 |
25 | ₹ 20,979.91 | ₹ 26,330.60 |
30 | ₹ 20,115.57 | ₹ 25,715.31 |
YES BANK Home Loan Document List
Here is the list of documents for salaried and self-employed people seeking for Home loan from YES Bank -
| Document | Salaried | Self-Employed |
|---|---|---|
Application Form with photograph | Yes | Yes |
Adhaar Card (non-mandatory for NRIs | Yes | Yes |
KYC | ▪ Address Proof ▪ Identity Proof ▪ Signature Proof | ▪ Address Proof ▪ Identity Proof ▪ Signature Proof |
Pan Card/Form 60 | Yes | Yes |
Income Proof | Last 3 months Salary Slip and Last 2 years' IT returns/ Form 16 | 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 | Not applicable | Yes (applicable for Self-Employed Professionals) |
Bank Statement | Last 6 months from the account where the salary is credited | Last 6 Months from the operative account |
Tips To Lower Down Your YES Bank Home Loan Interest Rates
Here are some of the ways where you can lower your YES Bank home loan interest rates-
- Regular Credit Score Check - Monitoring your credit score regularly helps you maintain a high score by ensuring timely repayments and correcting any discrepancies. A good credit score (750 or above) can help you negotiate a lower interest rate with YES Bank.
- Home Loan Balance Transfer - If you're paying a higher interest rate on your existing home loan, you can transfer your loan to YES Bank, which may offer lower rates and better terms. This can help reduce your overall interest burden and monthly EMIs.
- Negotiate with the Existing Lender - You can negotiate with YES Bank for a lower interest rate, especially if you have a strong repayment track record and a good relationship with the bank. Banks may offer lower rates to retain reliable customers.
- Prepayment and Part-Payment - Making lump sum prepayments or part-payments towards your home loan principal can help reduce the outstanding balance, leading to lower interest outgo and shorter loan tenure, ultimately reducing the overall interest cost.
Other Rates and Charges On YES Bank Home Loan
| Nature of Charges | Description |
|---|---|
Pre Disbursement | |
Login Fee | Rs. 5000/- |
Processing Fee | 1.5% of the loan amount or Rs. 10,000, whichever is higher (Rs. 7,500 is non-refundable if the loan is not disbursed). This includes the login fee. |
Post Disbursement | |
Repayment Mode Swap Charges | Standing Instruction (SI) to NACH - Rs. 500/- |
NACH Swap (to New Bank) – Rs. 500/- | |
NACH to Standing Instruction – NIL | |
Loan cancellation/Re-booking Charges | Rs.2000/- |
Repayment Schedule/Amortisation Schedule Charges | Rs 250/- per request (Physical mode or via Branch) NIL - on registered e-mail ID |
Part Pre-payment Charges | For floating rate loans – Nil |
On Foreclosure | |
Foreclosure Charges | For floating rate loans – Nil For Fixed/Semi Fixed rate loans - 2% on the amount prepaid during a fixed interest rate period For MSE loans upto Rs. 50 lakhs on fixed interest rate - Nil |
Foreclosure Statement Charges | Rs. 100/- per request |
How to Apply For YES Bank Home Loan?
- Customers can request a callback by sharing their financial requirements, and a YES BANK representative will reach out promptly.
- Alternatively, they can apply for a home loan at any nearby YES BANK branch.
- For further information on the application process, individuals can contact us at 1800 1200.
Concluding
YES Bank home loan interest rates are determined by various factors such as an applicant’s creditworthiness, employment stability, property details, and the loan-to-value ratio. To lower the interest burden, borrowers can explore options like maintaining a healthy credit score, opting for a balance transfer, negotiating better terms, or making prepayments. With the advantage of flexible repayment periods and substantial loan amounts, YES Bank aims to cater to the unique financial needs of every homebuyer.
FREQUENTLY ASKED QUESTIONS
1. What factors influence the interest rate on YES Bank home loans?
YES Bank home loan interest rates depend on factors such as the applicant’s credit score, income, job stability, loan amount, tenure, property location, and the loan-to-value (LTV) ratio.
2. How can I reduce my home loan interest rate with YES Bank?
You can lower your interest rate by maintaining a high credit score, negotiating with the bank, opting for a balance transfer, and making prepayments or part-payments to reduce the loan principal.
3. What is the maximum tenure available for a YES Bank home loan?
YES Bank offers home loan repayment tenures of up to 35 years, allowing for affordable monthly EMIs.
4. What is the YES Bank Home Loan interest rate currently?
Currently, the home loan interest rate of YES Bank is starting from 9.00% up to 12.00% p.a.
5. What are the factors that determine the eligibility of YES Bank home loan applicants?
YES Bank Home loan eligibility is determined by several factors, including the applicant’s age, credit history, number of dependents, and monthly income.
