Yes Bank Loan Against Property

About Yes Bank Loan Against Property

Loan against property is a medium to avail huge loan amount by using your commercial or residential property. Yes Bank is one of the best loan against property provider with the multi-purpose loan facility and low-interest rates, the fear of taking a loan just fades away.

Loan Against Property

    Personal Details


     

    Yes Bank Loan Against Property Details

    ParticularsDetails
    Interest RateAs per Bank's norms
    Loan Amount₹ 15 Lakhs to ₹ 7.5 Crores
    Tenure1 year to 15 years
    Processing Fee1% of the loan amount
    Foreclosure ChargesUp to 4% of the outstanding loan

    How to Apply for Yes Bank LAP

    The procedure to apply for loan against property from Yes Bank can be described in 3 simple steps:

    • Fill up the application form
    • Keep documents ready as per the eligibility criteria
    • Submit all the documents at the nearest bank branch
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    Yes Bank Loan EMI Calculator

    In today’s time, money-management is a tough task with increasing expenses day-by-day. Particularly, when we are applying for a loan, we must know how much are we going to pay each month and in total, after the completion of the tenure period.

    For example, if you are taking a loan against property for the loan amount of 15,00,000/- at an interest rate of 10% per annum for the tenure period of let’s say 15 years, the EMI per month comes out to be 16,119. With the help of EMI calculator, you can know the details about the total interest amount and the total amount (principal + interest) as per the chosen interest rate and loan amount. For detail information, refer to the below-given table:

    Table for EMI per month, Total Interest Outgo and Total Amount

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    Year Principal Interest Balance Amount

    Eligibility Criteria

    The eligibility to apply for loan against property at Yes Bank as per the category are as follows:

    For Salaried Individuals:

    • Minimum Income should be 3 lakhs Per Annum
    • Minimum age of the loan applicant is 23 years if the income is considered and 21 years if the income is not considered
    • Maximum age of the applicant is 60 years if the income is considered and 70 years if the income is not considered
    • Minimum 6 months of experience in current employment
    • Total 3 years of work experience
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    For Self-employed Individuals:

    • Minimum Cash profit of 4 lakhs Per Annum
    • Minimum Turnover:
    • 15 lakhs per annum for service providers/commission income
    • 10 lakhs per annum for doctors
    • 60 lakhs for non-service providers
    • Minimum age of 23 years if the income is considered and 21 years if the income is not considered
    • Maximum age of 65 years if the income if considered and 70 years if the income is not considered
    • Minimum 3 years of experience in business/profession

    Documents Required

    The list of documents that you need to have at the time of loan are as follows:

    Category SalariedSelf-employed/Professional/Partnership/Company
    Application FormLoan application formLoan application form
    Photos2 Passport size photographs2 Passport size photographs
    Identity ProofPassport
    Voter ID
    Driving License
    Job Card
    NREGA
    Adhaar Card
    PAN Card
    Registration Certificate
    Passport
    Voter ID
    Driving License
    Job Card
    NREGA
    Adhaar Card
    PAN Card
    Registration Certificate
    Address ProofPassport
    Voter ID
    Driving License
    Job Card
    NREGA
    Adhaar Card
    Registration Certificate
    Passport
    Voter ID
    Driving License
    Job Card
    NREGA
    Adhaar Card
    Registration Certificate
    Office Address Proof
    Income ProofLast 2 salary slip and IT Returns
    Form 16 for last 2 years
    Last 2 years IT Returns with computation of income
    Audited balance sheet and Profit & Loss account including tax audit report if applicable
    Proof of turnover vide latest sales/service tax returns
    Other Income ProofRental receipts or documents showing receipt of incomeRental receipts or documents showing receipt of income
    Other DetailsSignature of the applicant/sSignature of the applicant/s
    Property DocumentsCopy of Title documents showing receipt of incomeCopy of Title documents showing receipt of income
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    Yes Bank Loan Application Form

    The details that are mandatory to be filled in the application form are as follows:

    • Name of the applicant/s
    • Address proof
    • Birth certificate
    • Income proof
    • Business proof
    • Purpose of loan
    • Processing fee
    • Repayment mode
    • Tenure period

    Yes Bank Loan Against property Interest Rates

    The interest rates applicable on loan against property from Yes Bank depends on the loan borrower and his/her profile. The interest rates are fixed as well as floating as per the bank’s policies.

    Yes Bank Mortgage Loan Processing Fee

    The processing fee on loan against property or mortgage loan is 1% of the loan amount.

    Features & Benefits

    Some of the main advantages of taking LAP from Yes Bank are as follows:

    • Low-interest rates
    • Longer tenure
    • Low processing fees
    • Quick loan approval
    • High loan amount
    • Multi-purpose loan
    • Minimal documentation

    Personal Loan Interest Rates December 2017
    Bajaj Finserv 10.99% - 16.00%
    Fullerton India 14.00% - 33.00%
    HDFC Bank 10.99% - 20.70%
    ICICI Bank 10.99% - 18.40%
    IndusInd Bank 12.99% - 20.00%
    Kotak Bank 10.99% - 17.99%
    RBL 14.00% - 18.00%
    Standard Chartered Bank 10.99% - 14.49%
    Tata Capital 11.49% - 18.00%
    Home Loan Interest Rates December 2017
    State Bank of India/SBI 8.30% - 8.60%
    HDFC 8.35% - 8.95%
    Bank of Baroda 8.30% - 9.30%
    LIC Housing 8.35% - 8.70%
    PNB Housing Finance 8.35% - 8.70%
    ICICI Bank 8.35% - 8.85%
    Axis Bank 8.35% - 8.75%
    Citibank 8.60% - 9.35%
    Indiabulls Housing Finance Limited 8.35% - 8.55%
    Kotak Bank 8.35%
    EMI Calculator