Yes Bank Home Loan offers multiple schemes for all types of customers. You can get loans for purchase of new house/flat, purchase of plot, home loan transfer, top-up loans, and much more.
Features of home loans are doorstep service, fast and transparent processing, high loan amount, longer repayment period, and much more.
The best part is that you can apply for the loan online without going to the bank. Also, before taking the loan, you can check your EMI by using the EMI calculator.
This will help in better financial planning and reduce financial stress.
Yes Bank Home Loan offers you the option of taking a loan against a fixed rate of interest or against a floating rate of interest. When you take a fixed interest rate loan, you are not affected by changes in interest rates while if you have taken a floating interest rate, you will be affected by interest rate fluctuations.
Choose a floating interest rate if you:
Choose a fixed interest rate if you:
Fixed interest rates are generally priced higher than floating interest rates. So, only you can decide which type of interest rate you want. There is another option that you can opt for; a combination of fixed and floating interest rate. You can convert from fixed to floating rate and vice versa for a small fee.
Yes Bank Home Loans offer a long repayment period and low affordable EMI. The repayment period changes from scheme to scheme.
|Interest Rate||9.35% to 10.50%|
|Processing Fees||0.5% of the loan amount or Rs. 10,000 whichever is higher|
|Loan Tenure||1 Year to 25 Years|
|Partial pre-payment Charges||Nil|
|Guarantor Requirement||No Guarantor Required|
The interest rates for the home loan varies from 9.35% to 10.50%. It is based on the MCLR rate. To know the latest MCLR rate, please contact the bank.
The Processing fee for the loan is 0.5% of the loan amount or Rs. 10000 whichever is higher plus applicable GST.
Nil for floating rate home loans and 2.5% on the principal outstanding for fixed-rate loans.
You can check your eligibility and apply for a home loan by signing up with CreditMantri. It is quick, simple and above all, free. CreditMantri matches your credit and demographic profile to the lenders lending criteria and presents you a shortlist of only those lenders willing to lend to you based on your unique credit profile. In effect, we prescreen your application to make sure you are likely to qualify as per the lender's credit criteria. Hence the chances of your home loan application getting approved is higher.
Once you submit your application with your complete contact details and employment history, a YES bank representative will collect the required documents from you. The loan amount depends on your repayment capability and is restricted to a maximum of 80% of the market value whichever is lower. Repayment capacity is taken into consideration while making a sanctioning decision: factors such as income, age, qualifications, number of dependents, assets, spouse's income, existing obligations, employment stability and savings history play a vital role.
You can check your YES Bank Home Loan status by contacting your branch and referencing the application number. You can also contact YES customer care for help with tracking your application.
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