YES Bank Business Loan
You can avail a business loan from YES Bank with maximum loan amount of up to Rs.60 lakh. The process to apply for a business loan from YES Bank is easy and hassle-free and can be done both through online and offline channels.
Benefits of YES Bank Business Loan
Some of the benefits of applying for a business loan from YES Bank are given below:
- Instant Business Loans within Moments: Only existing current account customers of Yes Bank will receive an instant online loan approval and disbursement.
- No Need for Collateral or Guarantor: Unsecured business loans don't require collateral or a guarantor.
- Higher Loan Limit: Avail maximum loan amount of up to Rs.60 lakh.
- Flexible Loan Duration: Select between flexible and lengthy payback terms.
- Balance Transfer Options: Transferring your current company loan will result in reduced EMIs and more enticing interest rates.
Who can Apply for a Business Loan from YES Bank
The following entities can apply for a business loan from YES Bank:
- Self Employed Professionals
- Sole Proprietorships
- Partnerships
- Private. Ltd. Company
- Companies which are closely held
- Limited Liability Partnerships.
Documents Required
You will require to submit the following documents to apply for a business loan from YES Bank:
- KYC of the applicant and the co-applicant.
- Bank statement for the past six months
- Audited financial for the last two years.
Fees and Charges
Type of Charges | Fee Charges |
Processing Fee | Up to 2.75% of the loan amount |
Stamp Duty | As per the state's applicable laws |
Charges for Repayment Mode Swap | Rs.750 |
Loan Cancellation Charges | Rs.1,000 |
Repayment Charges | Rs.750 per request (through branch or physical mode)NIL, on the registered email address |
Charges for Duplicate No Due Certificate | Rs.250 for each certificate |
Statement of Account | Rs.750 per statement |
CIBIL Charges | Rs.50 per instance |
Legal Charges | At actuals |
Pre-Payment Charges | NA |
Date of issuance of the annual outstanding balance statement | On Demand |
NeSL Charges | Individual Unsecured - Rs.25/ Company & LLP1st Loan/Debt Record - Rs.300 2nd to 10th Loan/Debt record -- Rs.100 each 11th Loan/Debt record onwards -- Rs.50 each Other Commercial Entities 1st Loan/Debt Record -- Rs.150 2nd Loan/Debt record onwards -- Rs.50 each Unsecured - Nil Company & LLP1st Loan/debt Record -- Rs.250 2nd to 10th Loan/debt record-- Rs.100 each 11th Loan/debt Record onwards -- Rs.50 each Other Commercial Entities1st Loan/debt Record -- Rs.125 2nd to 10th Loan/debt record-- Rs.50 each |
Foreclosure Charges | Loan prepayment or foreclosure is not permitted before the first six EMIs have been paid.Applicable charges after 6 months are given below: 7-24 Months - 4% of principal amount outstanding 25-36 Months - 3% of Principal amount outstanding 37-48 Months - 2% of Principal amount outstanding More than 48 Months – Nil |
Late payment Fee | After the 30-day grace period, at the contractual rate for the late amount or period. |
Cheque Bounce Charges | Rs.750 for each presentation |
How to Apply for a Business Loan from YES Bank
Given below are the steps you can follow to apply for a business loan from YES Bank online:
- Click on the link https://www.yesbank.in/personal-banking/yes-individual/loans/retail-business-loans.
- Click on the ‘Apply Now’ button.
- If you are a customer of YES Bank then click on ‘Yes’ and provide your mobile number and customer id. If you are not, then click on ‘No’, and provide only your mobile number.
- Follow the instructions as given thereafter to apply for a business loan.
- You will be required to submit the application form along with all the necessary documents. If all the details are correct, your application for a business loan will be approved.
You can also apply for a business loan from YES Bank by visiting the nearest YES Bank branch along with all the necessary documents. Submit them and they will be verified. If all the details are correct, the application for a business loan will be approved by YES Bank.
FAQs on YES Bank Business Loan
- What kinds of loans for businesses does Yes Bank provide?
To meet varied business needs, Yes Bank provides a range of business loan products, including term loans, working capital loans, machinery loans, and more.
- Can a doctor apply for this type of business loan?
Yes, a doctor can apply for this type of business loan.
- What is the interest rate on business loans from Yes Bank?
The type of loan, loan amount, and market conditions can all affect interest rates. The current interest rates will be disclosed to you by Yes Bank at the time of your application.
- Do I have to offer collateral to receive a business loan from Yes Bank?
No, Yes Bank offers unsecured business loans, which normally include no need for security or assets.
- For what purposes can I avail a Retail Business Loans from YES Bank?
You can avail a Retail Business Loans for operating capital, business growth, or the acquisition of office or office equipment, among other things.
- Can I get the YES Bank business loan application form on the YES Bank’s official website?
Yes, you will be able to download the business loan application form from the YES Bank’s official website.
- What is the length of time that business loans can be repaid?
The loan payback terms that Yes Bank normally offers are flexible, allowing you to select a term that works with the cash flow of your company. Depending on the type of loan, the duration may change.
- What is the turnaround time for processing and disbursement of business loans at Yes Bank?
The amount of time needed to process and disburse a business loan can vary depending on the quality of your application, the supporting paperwork, and the bank's internal procedures. In general, Yes Bank seeks a rapid turnaround.
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