Yes Bank Loan Against Property – Interest Rates 2016

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.

Yes Bank Loan Against Property Details

ParticularsDetails
Interest RateCustomized
Loan AmountAs per the eligibility
TenureNot specified
Processing Fee2% 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

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 Rs. 15,00,000/- at an interest rate of 14% per annum for the tenure period of let's say 5 years, the EMI per month comes out to be Rs. 34,902/-. 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:

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

Amount (in Rs.)Interest Rate (p.a)Loan Tenure (in years)EMI (in Rs.)Total Interest Outgo (in Rs.)Total Amount (Principal + Interest) (in Rs.)
15,00,00014%11,34,6811,16,16816,16,168
15,00,00014%272,0192,28,46417,28,464
15,00,00014%351,2663,45,59218,45,592
15,00,00014%440,9904,67,50619,67,506
15,00,00014%534,9025,94,14320,94,143

Amortization Table

YearPrincipal (in Rs.)Interest (in Rs.)Balance Amount (in Rs.)
12,22,7571,96,06712,77,243
22,56,0271,62,79710,21,216
32,94,2601,24,5647,26,956
43,38,206806183,88,750
53,89,15330109

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 Rs. 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

For Self-employed Individuals:

  • Minimum Cash profit of Rs. 4 lakhs Per Annum
  • Minimum Turnover:
  • Rs. 15 lakhs per annum for service providers/commission income
  • Rs. 10 lakhs per annum for doctors
  • Rs. 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
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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

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.

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Yes Bank Mortgage Loan Processing Fee

The processing fee on loan against property or mortgage loan is 2% 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