• YES Bank Car Loan

    YES BANK offers car loans for as low an amount as Rs.1 lakh, which is useful for when you want to buy a used car. Whether you want a used car or a new car, YES BANK offers one of the most competitive interest rates. Enquire through BankBazaar and get all the information you need within 30 minutes or less.

    YES BANK is a private bank in India with headquarters in Mumbai, a pan India network of 900 branches. YES BANK offer retail loans to product like Home Loan, Personal Loan, Car Loan, Commercial Vehicle Loan. All you have to do is to follow some simple steps to get attractive deals.

    Documentation needed to apply for an YES BANK Car Loan

    • 1. Signed application form with photograph
    • 2. Photo ID and age proof
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    YES BANK Car Loan Interest RatesUpdated on 25 May 2022

    YES BANK Car Loan Details
    Interest Rate 9.25%
    Processing Fees Up to 1%
    Loan Tenure Up to 7 years
    Pre-closure Charges 6% of principal outstanding within 6 months to 24 months from 1st EMI, 5% thereafter
    Guarantor Requirement No Guarantor Required

    The above mentioned interest rates are subject to change as per the revised GST rates.

    Overview- YES BANK Car Loan

    When it comes to car loans, YES BANK has emerged as one of the preferred choice amongst people looking to purchase their ideal set of wheels. The bank’s slogan ‘Say YES to your BIG car dream’ is in perfect sync with the Bank’s popularity, its core value of providing comprehensive car loans that match the customers’ taste as per the automobile of their choice, and its overall loan approval and dispersal machinery that is transparent and hassle free.

    Perfect Car Loan Deals for you

    Avail Car Loans from YES BANK

    YES BANK car loans come attached with attractive interest rate, multiple repayment options with the tenure stretching from 1 to 7 years and the availability of loans for a wide segment of the Indian population. An assurance of speedy document processing and coverage of up to 90% of the car value (on select models), alongside a minimum and maximum loan amount of Rs.1 lakh and Rs.500 lakhs respectively, make car loans from YES BANK an ideal proposition for the serious buyer.

    To apply for YES BANK’s car loans, the following documents need be produced at the time of application (pre-approval stage):

    • Duly filled up car loan application form.
    • KYC Docs as per YES BANK policy.
    • Proof of Income.
    • Bank statement copies.
    • Signature proof verification.
    • Proforma invoice.
    • Passport size photographs.

    The following documents must be produced post- approval/ pre-disbursement:

    • Loan agreement that is duly signed by the local RTO.
    • Post-dated cheques (PDCs) / ECS form / Standing instruction (SI) request with security PDCs as applicable.
    • Receipt of margin money.

    Features of YES BANK Car Loan

    The YES BANK car loan option is ripe with many customer friendly features. First up, it’s available to a wide customer bracket- individuals, proprietorship firms, partnership firms and public or private limited companies. Next, for select models, the loan provides a coverage of up to 90% on the vehicle cost and seals the deal with some very competitive, attractive interest rates. The loan ensures a minimum pay-out of Rs.1 lakh, while the maximum amount could be Rs.500 lakhs. Also, multiple repayment options are available with the payback tenure ranging from 1 to 7 years.


    The eligibility criteria to attain a YES BANK car loan rests on multiple factors, with the requirements differing for various target groups, as listed below-

    For Salaried Individuals:
    • Minimum age to apply: 21 years
    • Maximum permissible age at loan maturity: 58 years
    • Minimum annual income: Rs.3 lakhs (3 months’ salary slips/ Form 16 needed for confirmation)
    • Minimum work experience in current job: 1 year
    Self Employed Individuals:
    • Minimum age to apply: 21 years.
    • Maximum permissible age at loan maturity: 65 years.
    • Minimum annual income: Rs.2 lakhs (2 years ITR/ Previous year ITR with adv. tax challan for current year showing higher tax paid than previous year, needed for confirmation).
    • Minimum experience in same business: 2 years.
    Partnership Firms:
    • Minimum Annual Income: Rs.2 lakhs (2 years Audited Financials / ITR for last 2 years if audited financials not available are needed for confirmation).
    • Minimum experience in same business: 2 years.
    Private Limited Company/ Ltd. Co.
    • Minimum Annual Income: Rs.2 lakhs (Last 2 years ITR & Audited Financial statement needed for confirmation).
    • Minimum experience in same business: 2 years

    Compliance of the simple requirements listed above puts the applicant on the fast-track to a robust car loan from YES BANK, in turn leading to his/her cherished set of wheels.

    Factors to consider before applying for a car loan at Yes Bank

    Purchasing a car is a big investment. Therefore, it is advisable to make an informed decision about your auto financing options. Here are some important factors that you should take into account when taking a car loan to purchase a car of your choice:

    • Rate of interest on car loan: The interest rate on a car loan depends on the loan amount, loan tenure, and the eligibility of the applicant. Yes Bank offers car loans at attractive interest rates depending on your eligibility and the loan amount and loan tenure that you choose.
    • Documentation for car loan application: To process car loan application, banks require identity, age, income, and address proofs from the applicant. Applying for a car loan is a simple process but the documentation process could be a hassle for customers. Which is why, lenders compete with each other to attract and retain customers by offering speedy documentation. Some banks offer minimal documentation for existing customers as they already have the KYC details of the applicant. Other than easy documentation, two other things to look out for in a car loan lender are fast processing and instant approval.
    • Car loan eligibility: Before applying for a car loan, check whether you meet the eligibility criteria set by the bank. Car loan eligibility criteria vary from lender to lender. Some banks have a free online car loan eligibility calculator on their website to help applicants calculate their car loan eligibility. Any salaried or self-employed applicant aged between 21 and 58 years with a good credit score, a stable occupation, and a steady income is eligible for a Yes Bank car loan. Credit score of an individual represents his or her creditworthiness while the income of a person represents his or her loan repayment capacity.
    • Car loan fees and charges: Banks levy service fees and charges on car loans such as processing fee, foreclosure fee, prepayment fee, stamp duty charges, late payment fee, etc. Processing fee is a small percentage of the principal amount that is deducted from the loan amount at the time of loan disbursal. Prepayment charge is a small percentage of the prepayment amount wherein the percentage varies depending on the time period during the loan tenure at which the loan is partly or wholly prepaid. Late payment charges are imposed on borrowers who fail to make EMI payments on the due date. The penalty fee for a late payment is a small percentage of the outstanding due of the loan amount. Foreclosure charge is a small percentage of the outstanding loan amount that a borrower decides to fully prepay before the end of the loan tenure.
    • Down payment: At Yes Bank, you can avail up to 90% of the car value. Therefore, for the remaining amount of the car price, you will have to make a down payment out of your pocket. Applicants without a good credit score or who don't meet the car loan eligibility criteria can obtain an auto loan by making a higher down payment on a car of their choice. Making a high down payment can reduce the cost of your car loan on the whole.
    • Car Loan EMI: Finding out how much your car loan will cost you on a monthly basis can help you choose an affordable loan amount and a suitable loan tenure. It is advisable to maintain a low debt-to-income ratio wherein the EMI does not exceed more than 50% of the borrower’s income. A high debt-to-income ratio can lead to defaulting on your car loan. Use the free online car loan EMI calculator available on the bank website or a reliable third-party website to get instant and accurate results. Car loan parameters such as loan amount, loan tenure, and interest rate are required to calculate car loan EMI.

    Yes Bank Car Loan Service Charges and Fees

    Charges Amount
    Part prepayment Charges Part prepayment is allowed only after 12 EMI payments. It can be done only twice during the loan tenure and only once a year. Part prepayment can’t be more than 25% of the principal outstanding. 5% on the part prepayment amount within 13-24 months of first EMI. 3% on the part prepayment amount post 24 months of first EMI.
    Loan reschedulement/rebooking Charges Rs.1,000
    Loan cancellation Charges Cancellation can be done only before clearance of the first EMI. Rs.1,000
    Stamp Duty Charges At Actual
    Documentation Charges Rs.600 per case
    Cheque Swapping Charges Rs.750 per transaction
    Cheque Bounce Charges Rs.750 per bounce
    CIBIL Charges (only on request) Rs.50
    Commercial/Personal Use NOC (conversion subject to credit approval) Rs.2,250 per NOC
    Collateral Charges Rs.450 per case
    Late Payment Charges 2% per month
    Duplicate NOC/NDC Issuance Charges Rs.750 per NOC
    Loan Statement Charges Rs.750 per statement
    Amortisation Schedule Charges Rs.750 per schedule
    Special NOC Rs.500 per request

    Yes Bank Car Loan FAQs

    1. How do I apply for a Yes Bank Car Loan?

      You can opt to apply for a car loan using one of the following methods.

      • Apply on the Yes Bank Website.
      • Visit the nearest Yes Bank branch.
    2. Where can I get a Yes Bank Car Loan Application form?

      Yes Bank provides car loan application forms at its bank branches or on its website online.

    3. What kind of four wheeler can I purchase with finance from Yes Bank?

      You can purchase any kind of four-wheeler with a loan from Yes Bank. The car should be bought for personal use.

    4. How do I apply online for a Yes Bank car loan?

      To apply for a car loan on the Yes Bank website, follow these simple steps.

      • Click on “Bank Branching” and Choose Retail Banking - Loans. Then choose Car Loans and you will see an option to Apply Now! Click on the button, fill out the form and apply.
    5. Can I check the status of my Yes Bank loan application online?

      No, there is no option on the Yes Bank website.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    YES BANK Car Loan Reviews

    • YES Bank
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have availed car loan through YES bank directly.still this loan is active .The car model was Hyundai Creta and the rate of interest was quite nominal it was 9.60%and processing fee was very high. This loan was sanctioned on faster basis ,the loan process was clearly shared by the agent . I am paying the premium on EMI basis which will be done on time.
      Was this review helpful? 107
      , agra
      Reviewed on Mar 06, 2020
    • YES Bank
      YES Bank
      0.5 0.5/5 "Unacceptable"
      baseless staff behaviour.., hrassing calls before emi due date............. . ........ ......................... .............................!.....................................................................
      Was this review helpful? 4
      , ludhiana
      Reviewed on Jan 08, 2020
    • YES Bank
      0.5 5.0/5 "Blown Away!"
      I have a four wheeler loan from Yes Bank. I have already paid 18 months emi. Rate of interest is nominal as comparison to other banks. Yes Bank customer service is very good. Emi payment is very easy. Their charges are very good. I had so pay 1200 penalty for late payment.
      Was this review helpful? 9
      , kolkata
      Reviewed on Oct 04, 2019
    • YES Bank
      "Rate of interest is cheap"
      0.5 5.0/5 "Blown Away!"
      The best and lowest interest rate has been provided by yes bank regarding the car loan. Because the rates of interest is low comparing to all other banks hence i have chosen the YES bank for my car loan. The processing fee was nominal. The loan tenure period was 3 years. They have sanctioned the loan immediately and the documentation process was easy.
      Was this review helpful? 17
      , hyderabad
      Reviewed on Jun 11, 2019
    • YES Bank
      "Lowest interest in the market"
      0.5 5.0/5 "Blown Away!"
      I went to the showrrom they recommened YES Bank for the car loan, the rate of interest was lowest in the market. The bank have sanctioned on road price around Rs. 10 lakhs, I purchased breeza. The executive are professional they done documentation on time.
      Was this review helpful? 19
      , mumbai
      Reviewed on May 31, 2019
    • YES Bank
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I have holding car loan with Yes bank from long time, the loan amount was sufficient based on my requirement they have given to me, the rate of interest they have charged me was nominal, it is satisfactory, the service is good, so far i did not face any issue.Still this loan is running.
      Was this review helpful? 3
      , vadodara
      Reviewed on May 14, 2019
    • YES Bank
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      I took car loan from YES Bank I took the loan amount Rs. 6 lakhs for the duration 7 years , the on road price was Rs.7.8 lakhs. Interest rate was around 9.2% its nominal as compared to other banks. They do have part payment, foreclosure and other feature.
      Was this review helpful? 3
      , chennai
      Reviewed on Apr 12, 2019
    • YES Bank
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      My car loan was taken with Yes bank recently,The process in getting loan was simple and quick,the loan got credited in my account on time,and the loan amount which they have given me was good,the rate of interest they have charged me up to 9.6% which was nominal comparing to market value.
      Was this review helpful? 1
      , noida
      Reviewed on Mar 26, 2019
    • YES Bank
      0.5 5.0/5 "Blown Away!"
      I have applied for the car loan with the YES BANK the documentation process simple with basic documentation. I have got the loan within 3 days bank. The rate of interest is 8.90% with this loan which is nominal. The duration for repaying the loan is for 5 years.
      Was this review helpful? 1
      , mumbai
      Reviewed on Feb 22, 2019
    • YES Bank
      "Okay bank for car loan"
      0.5 5.0/5 "Blown Away!"
      There is no communication between the call centre and me and they used to auto debiting money from my account as a EMI. I have taken the loan amount of Rs. 6.5 lakhs and I'm not satisfied with the interest rate which they have provided me was 13% since the dealer has provided the loan from YES bank and i don't have option to choose the other bank
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 19, 2018
    • YES Bank
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan with YES bank and my loan experience was very good, the car model is Vitarra Brezza and the loan amount is Rs 6.7 lakhs with nominal interest rate and no processing charges. The tenure period for this loan is 5 years and the customer service was good.
      Was this review helpful? 3
      , new delhi
      Reviewed on Jul 31, 2018
    • YES Bank
      0.5 4.0/5 "Great!"
      I have taken the four wheeler loan with the Yes bank and the customer service is good, also the response is better one too. I am really happy with them. Rate of interest is around 9.15% for the car loan with the Yes bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 23, 2018
    • YES Bank
      "Good service"
      0.5 4.0/5 "Great!"
      Within a week time , I have got the car loan from the YES BANK . They have disbursed the loan amount within the promised time. The customer support service and the response is good with the Yes bank . The updating process is excellent with the YES BANK.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 01, 2018
    • YES Bank
      "Good process"
      0.5 5.0/5 "Blown Away!"
      I also bank with YES Bank for a car loan. They are very fast and prompt in the customer services. The process is good and the documentation was not much. The rate of interest is of 9% and the processing charges is also zero. I am happy with the after loan services too.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 01, 2018
    • YES Bank
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a Car loan with Yes bank and it was a good loan experience. The loan amount was for Rs 14 lakhs with the rate of interest of 13% which is high when compared to other banks. The process was smooth and i received my loan amount on time. Customer service was good and they followed up correctly. The tenure of this loan is 4 years and it was overall a good service from Yes bank.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jan 24, 2018
    • YES Bank
      0.5 4.0/5 "Great!"
      It was a good service from YES bank for my car loan service the interest rate they offered me was 6.7 which is fine compare to others the customer service is good and the documents have been collected from my door step ,so the process was very easy with YES bank for my car loan service.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 11, 2017
    • YES Bank
      "Process is good & swift"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from YES Bank and the process was very much convenient where documents are concerned and the the disbursement was on time too. The interest rate was a bit on the higher side. It was around 8.8% and the processing charges are good.
      Was this review helpful? 1
      , mumbai
      Reviewed on Oct 20, 2017
    • YES Bank
      0.5 5.0/5 "Blown Away!"
      Response given by yes bank for my car loan process was very fast. They approved the loan with simple documents collection. Customer service is always good in reminding us about our emi date. . They are very quick in their process. With in two days they have approved and sanctioned my loans.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 28, 2017
    • YES Bank
      "Very good approach"
      0.5 4.0/5 "Great!"
      YES car was very prompt in responding, the person came to my place and completed the documentation process in a week's time. But they are yet to come back to me regarding the eligibility regarding the maximum loan sanction amount . But it is the only Bank which provides the option for foreclosure. Name of the car model shortlisted was MARUTI SUZUKI BALENO alpha.
      Was this review helpful? 1
      , mumbai
      Reviewed on Sep 26, 2017
    • YES Bank
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I have got the car loan with the Yes bank and the loan amount got disbursed within a week of time. I would like to say that the response is good one for me with them and the customer service is also fine one for me and I don't have any issues on it.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 14, 2017
    Common Loader Icon
    This Page is BLOCKED as it is using Iframes.