Yes Bank Business Loan Interest Rates
Last Updated : Feb. 6, 2023, 4:46 p.m.
If you are looking for funds to develop a business, get Yes Bank Business Loan at the lowest interest rate. It is very difficult to choose the best financial institution in today’s competitive world. So there is no need to be worried. Yes Bank is among the top banks that offer loans at attractive interest rates, even get a business loan without collateral.
Details of Interest Rates and Charges
| Particulars | Charges |
|---|---|
| Interest Rates | 13.25% - 19.99% |
| Processing Fee | Up to 2.50% of the loan amount, Minimum ₹999 |
| Prepayment/ Part Prepayment Charges | No prepayment until 6 months Part Prepayment will not be allowed any time during loan tenure |
| Prepayment Charges | 0-24 Months - 4% of the principal amount 25-36 Months - 3% of the principal amount 36-48 Months - 2% of the principal amount More than 48 Months - NIL |
| Loan Closure Letter | NIL |
| Duplicate Loan Closure Letter | ₹750 |
| No Objection Certificate (NOC) /Duplicate No Due Certificate | ₹250 |
| Solvency Certificate | N/A |
| Late Payment of EMI Charges | Principal overdue/ 2% per month on EMI |
| Charges for credit assessment | N/A |
| Charges for cheque Swapping | ₹750 |
| Duplicate Repayment Schedule Charges | ₹750 |
| Cheque Bounces Charges | ₹ 750+Taxes |
| Re-booking/ Duplicate Repayment Schedule Charges | ₹1000 |
| Account Statement Charges | ₹750 |
| Incidental/ Legal Charges | At actual |
| Other statutory and Stamp duty charges | At actual |
Note – All fees and charges above table are non-refundable
Some of the Major Factors that Affect Business Loan Interest Rates
It is important to remember that Yes Bank business loan interest rates vary from one lender to another. These are some of the factors that the same lender offers business loans at different interest rates.
Business Turnover – Your turnover indicates profitability in your business, which shows how much you are able to repay the loan. If your business monthly and annual turnover is good, it indicates that your business is doing well. Therefore the lender believes that there will be no default in repaying the loan amount.
Business Vintage – Your Business Vintage describes how your business is running smoothly. The older your business is, the more it reflects stability in your business. When you have a high business vintage then lenders see less risk of default and higher repayment capacity and therefore a lower interest rate. So set-up businesses can get loans at a higher interest rate.
CIBIL Score – The most important factor in determining your business interest rate is a CIBIL score. A CIBIL score is important for taking a loan, so a good credit score is required. If the borrower has a good CIBIL score, lenders charge a lower interest rate.
Cash Flow – Business cash flow is the most important, so lenders always look at the debt and income ratio of the business. If you have a high cash flow and income for the business, you are more likely to get a business loan at a lower interest rate.
How Does the Rate of Interest Affect the EMI Amount?
It is very difficult to calculate the exact EMI amount, so use the Yes Bank Business Loan EMI Calculator .
| Loan Amount | Interest Rate | Tenure | EMI |
|---|---|---|---|
| ₹200,000 | 13.25% | 36 Months | ₹6762.9 |
| ₹200,000 | 19.99% | 36 Months | ₹7431.7 |
| ₹500,000 | 15.00% | 36 Months | ₹17332.66 |
| ₹500,000 | 19.99% | 36 Months | ₹18579.24 |
| ₹10,00,000 | 18.00% | 36 Months | ₹36152.4 |
| ₹10,00,000 | 19.99% | 36 Months | ₹37158.49 |
The above table clearly mentions the loan amount and tenure is the same, but there are fluctuations in interest rates and EMI amount.
