YES Bank Home Loan

YES Bank offers home loans of up to Rs.5 crore for both salaried and self-employed individuals at attractive interest rates .You have the flexibility to extend the tenure up to 35 years to reduce your monthly instalment amount. The processing fee applicable is 2% of the loan amount plus GST or Rs.15,000, whichever is higher.

YES Bank Home Loan Offers

• Competitive interest rates
• Loans ranging from Rs.10 lakh to Rs.5 crore
• Subsidised rates under the PMAY scheme
• Enjoy tax benefits with this scheme

YES Bank Home Loan EMI Calculator

Manage your finances in a better way by calculating your EMI (equated monthly instalment) beforehand. You can use Home Loan EMI Calculator to compute your monthly instalment. It’s a fairly simple process. All you need to do is enter all the required details pertaining to your loan, including the tenure, amount, interest rate, and processing fee. Hit the “calculate” button to know the instalment amount. You can also check the amortisation table giving you a complete breakdown of your payment schedule.

YES Bank Home Loan Eligibility Criteria

• For Salaried
  • Application with a passport size photograph
  • Aadhaar card
  • KYC details
  • PAN card or Form 60
  • Last 2 years’ salary slips
  • Form 16/IT returns
  • Last 6 months’ bank statements
• For Self-Employed
  • Application with a passport size photograph
  • Aadhaar card
  • KYC details
  • PAN card or Form 60
  • Last 2 years’ IT returns with computation of income
  • Profit and loss account statements along with audited balance sheet
  • Qualification proof
  • Last 6 months’ bank statements

YES Bank Home Loan FAQs

1. Is the home loan facility meant only for purchasing a property?

No, you can also use this home financing scheme to repair or renovate your existing house. This may include adding new rooms to the existing ecosystem, repainting, and buying new furniture, among others.

2. Can I switch from a fixed rate to floating rate loan?

Yes, you can switch from fixed rate to floating rate loans and vice versa. However, a fee of 0.5% of the existing principal amount will be levied. Note that, no charges will be levied if you plan to switch from base rate to MCLR (Marginal Cost of Funds-based Lending Rate) or vice versa.

3. Can I link my YES Bank Home Loan to PMAY (Pradhan Mantri Awas Yojana)?

Yes, you can link it to the PMAY scheme provided you are eligible. If eligible, you can get subsidised rates based on the category you belong to.

4. How much tax benefit can I get with this scheme?

The amount that can be claimed is capped at Rs.1.5 lakh. The currently applicable tax exemption under section 24(b) is Rs. 2,00,000, as per the Income Tax Act 1961 rules. However, note that this may change as per the Income Tax Act.

5. What’s the minimum amount that I can get as financing?

You can take a minimum loan of Rs.10 lakh.

6. Can I have a co-applicant while signing up for a loan?

Yes, you can have a co-applicant for the loan. You can have your spouse as a co-applicant. If your spouse is earning, his/her income can be added to increase the loan amount.