Yes Bank Car Loan

About Yes Bank Car Loan

Having a car is a dream of many is a fact we all understand. But the key lies in buying the vehicle at an affordable interest rate so that your pocket get saved while servicing the loan. As far as lenders are concerned, Yes Bank can be the one which can let you move the steering without any worry. The private lender offers loan to value (LTV) at 90% on select models for a period ranging from 1 to 7 years. Minimum and maximum loan amount are ₹ 1 lac and ₹ 500 lakhs.

Yes Bank Car Loan Interest Rates and Other Details

Particulars Cost
Interest rate 10.25% - 12.25%
TenureUpto 7 years
Loan Amount
Min amount : ₹ 1 lakh

Max. amount : ₹ 500 lakhs
Processing fee ₹ 5,000-₹10,000
Prepayment Charges
No prepayment charges allowed within 6 months from the date of availing the car loan; 6% of POS for preclosures within 6 months to 12 months from 1st EMI; 5% of POS for preclosures post 12-24 months from 1st EMI;3% of POS for preclosures post > 24 months from 1st EMI

Yes Bank Car Loan Eligibility Criteria

ParametersSalaried Professional Self-employed
Age21-58 years21-65 years
Minimum Income Annual income of at least 3 lacs Annual income of at least 2 lacs
Employment/Business ContinuityMinimum work experience of 2 years with one year with the existing employer Been in the business for at least 2 years

Documents Required to Avail Yes Bank Car Loan

ProofsSalaried ProfessionalSelf-employed
Age ProofPassport/PAN Card/ Voter ID card, Photo Driving License with birth date/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate Passport/PAN Card/ Voter ID card, Photo Driving License with birth date/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate
Identity Proof PAN Card/ Voter ID/Passport/Driving License, photograph PAN Card/ Voter ID/Passport/Driving License, photograph
Income Proof Latest 3 month salary slip, Form 16One previous year ITR and Adv. Tax Challan of current year showing the payment of higher tax compared to the previous year
Address Proof Latest Telephone Bill/ Electricity Bill/Property Tax Receipt/Passport/ Voter ID Latest Telephone Bill/ Electricity Bill/Property Tax Receipt/Passport/ Voter ID
Sign Verification Proof Passport/Photo Driving License with birth date (laminated, recent , legible)/ Credit Card Statement with Credit Card Copy/Banker's Verification, Copy of Margin money paid to bankPassport/Photo Driving License with birth date (laminated, recent , legible)/ Credit Card Statement with Credit Card Copy/Banker's Verification, Copy of Margin money paid to bank
Application Form with Photograph YesYes
Car Valuation Report YesYes
Loan Agreement Duly Signed with RTO Set (Post Sanction/Pre-Disbursement Documentation) YesYes
Standing Instruction (SI) Request / ECS Form / Post Date Cheques (PDCs). Security Cheques required for SI and ECS (Post Sanction/Pre-Disbursement Documentation) YesYes

Yes Bank Car Loan EMI Calculator

If you the amount of EMI you would have to pay before availing a loan, how would you feel? You would be delighted, right! Knowing something related to money beforehand helps instill the discipline in your saving and expenditure pattern. The EMI calculator will let you know the installments payble on a loan. The EMI, which stands for Equated Monthly Installments, is a sum of both interest and principal repayment of the loan. The results of the EMI calculator depend upon the amount of loan, the rate of interest and the loan tenure. The moment these variables are entered, an indicative EMI will be flashed by the calculator, which will also show the amount of interest repayments a borrower has to make over the loan term.

Table showing interests and EMIs on used car loan of Rs 5,00,000 for different periods at Yes Bank

Loan Amount
(in ₹ )
Loan Tenure
(In years)
Interest Rate(in % p.a.)EMI(in ₹ )Total Interest Outgo(in ₹ )Total Amount(EMI+Interest) (in ₹ )
5,00,00018.80%-13.70%43,679-44,82324,153-37,876 5,24,153-5,37,876
5,00,00028.80%-13.70%22,797-23,93647,116-74,4555,47,116-5,74,455
5,00,00038.80%-13.70%15,853-17,01670,721-1,12,5785,70,721-6,12,578
5,00,00048.80%-13.70%12,395-13,58894,964-1,52,2295,94,964-6,52,229
5,00,00058.80%-13.70%10,331-11,5571,19,843-1,93,3906,19,843-6,93,390
5,00,00068.80%-13.70%8,963-10,2231,45,352-2,36,0366,45,352-7,36,036
5,00,00078.80%-13.70%7,994-9,2871,71,486-2,80,1366,71,486-7,80,136

Yes Bank Car Loan Application Form

Want to apply for Yes Bank Car Loan online? Visit the bank’s website, click loan section and come to the link of download forms. Fill in the details properly and submit the same for the bank to process your application. You can even submit the car loan application at any nearest Yes Bank branch in your city.

Yes Bank Car Loan Application Status

Keeping a track of the car loan application is necessary to find out the time by which the loan can be disbursed to your account. You can check the status by either enquiring at the customer care number 18002000, online or even the branch wherein your loan account is opened.

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