In today's fast paced world, everyone needs some private space at the end of the day to rest their body and mind. Buying your own house would ensure that you escape from all the house-hopping and also save that precious rent and security deposit. But, purchasing a property these days has become next to impossible, thanks to the mounting real estate prices. This is where home loans comes into play – you don’t have to burn up all your savings and can choose a comfortable tenure to repay.
Yes Bank Home Loan will be your friend in need when you decide to buy a property. Yes Bank is the fifth largest private sector bank in India and has a nationwide presence with branches across 29 states and 7 union territories. Offered in Partnership with Dewan Housing Finance Corporation (DHFL), Yes Bank home loan services comes with a host of customer-centric features and flexible repayment options which will make your property-purchase, a hassle-free experience.
At least 23 years old
Less than 60 years old
Salaried / Self-employed
with regular income
Earn more than the minimum
EMI limited to about 50%
of monthly income
Loan capped @ 80% of property value
EMIs of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 25 years
Alternatively add your parents
|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|
Yes Bank helps you realize your dream of purchasing your own house by offering the following features with home loans.
YES Bank offers its customers extremely low interest rates on home loans. The bank offers a floating interest rate of 9.35% on its home loans with zero charges and fees. This is the lowest interest rate the bank has offered in recent years. The interest rate of 9.35% to 10.50% is the lowest possible rate offered by the bank and is applicable to home loans of all tenures and is one of the more attractive features of Yes Bank home loan products.
YES Bank recently set its MCLR rate for home loans at 8.80% per annum, which came into effect on May 24th 2017. YES Bank offers the following MCLR rates for home loans with the following tenors:
Before you apply for a home loan, it is always advisable to assess your financial affordability. You will have to check your repayment schedule to see if the EMI fits your budget. Once you know where you stand in terms of your finances, you will not put your feet in deep waters by availing a huge quantum of loan. Manually calculating amortization for every year is a tedious process. Instead, use an online home loan EMI calculator to get all the details about repayment in an instant.
On BankBazaar.com homepage, you will find “Home Loan EMI Calculator” under Finance Tools. You will just have to enter essential details like loan amount, tenure in years and interest rate. At the click of a button, the EMI calculator will project the monthly EMI and amortization details.
You get the following solid advantages when you apply for Yes Bank home loan through BankBazaar.
With a myriad of home loan options available in the market, you will definitely have to invest a lot of personal time if you decide to manually go from bank to bank collecting brochures and information. That is why we have got everything lined up for you – find out the eligibility criteria, see details like interest rates and prepayment penalty and breeze through the other features at your own pace.
The key to finding the best loan product is comparing all options in the market and choosing the one that fits your requirements. With BankBazaar’s wizardry, you will have the best options in the market projected in front of you. All you have to do is answer a simple questionnaire and voila! What more – you can compare various home loan options and shortlist suitable offers.
Applying for Yes Bank home loan on BankBazaar is hassle-free and quick. With the 24/7 guidance of our support team, all your doubts and concerns will be duly answered.
Also, with instant rate quotes and approvals, we will simplify your loan application process further.
What is the prepayment penalty? Do I need a guarantor? What documents do I have to provide? – Have you got a thousand questions on your mind? We have comprehensive details for every product which will help you make an informed decision.
1. Can I avail of a YES Bank home loan to perform renovations on my property?
Yes. Home loans acquired through YES Bank can be utilized for extensions and renovations of any property such as a house or a flat, provided you already own it. This can include anything from construction of new rooms, repainting, acquisition and upgrade of furniture and fittings and much more.
2. Will I be required to visit a YES Bank branch in order to apply for a home loan?
While you can visit your nearest YES Bank branch to submit an application for a home loan, the bank also offers personalized services right to your doorstep, which is not only convenient but saves you time as well. YES Bank provides its customers with one on one counselling, wherein bank agents will walk you through the entire home loan application process in the comfort of your home.
3. What are some of the charges or fees involved while applying for a home loan through YES Bank?
YES Bank home loans do not come with any prepayment fees or charges. However, some of the other fees that may be levied are as follows:
Switching charges - Should the applicant wish to switch from a floating rate to a fixed rate or vice versa, a fee equivalent to 0.5% of the remaining principal amount will be levied
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