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YES Bank Two-Wheeler Loan

If you are looking to purchase a two-wheeler vehicle for yourself, then you avail a two-wheeler loan from YES Bank. You can avail a loan amount of up to Rs.25 lakh for a tenure of up to 5 years. The rate of interest charged by the lender is attractive.

YES Bank two-wheeler loan details

Loan amount Rs.25 lakh
Tenure Up to 5 years
Interest rate At the discretion of the bank

Features and benefits of YES Bank two-wheeler loan

  • You can avail a loan of up to Rs.25 lakh.
  • The tenure for which you can avail a two-wheeler loan from the lender is a maximum of 5 years.
  • Part prepayment options available.
  • You can avail up to 85% funding of the on-road value of the vehicle for select models.
  • There are multiple repayment options available through which you can repay your loan.
  • Documentation process is easy and minimal.

Documents required

Given below is the list of documents you will have to submit while applying for YES Bank two-wheeler loan:

  • Your latest photograph
  • Duly filled application form
  • Identity proof such as PAN, passport, Aadhaar, etc.
  • Proof of income such as salary slip, IT Form, bank account statements, etc.
  • Statement from bank
  • Proof of verification of your signature
  • KYC documents as asked for by the lender
  • Proforma invoice
  • Loan agreement duly signed with RTO set
  • Receipts for margin money
  • Post-dated cheques

Fees and charges

Fees Charges
Documentation charges Rs.499
Cheque bounce charges Rs.750 per bounce
Cheque swapping charges Rs.750 per transaction
CIBIL charges Rs.50
Personal use NOC Rs.2,250 per NOC
Collateral charges Rs.499
Valuation charges Rs.1,000
Part Prepayment charges
  • Part prepayment allowed subject to completion of 12 EMIs and will be allowed twice during loan tenure. Part prepayment facility can be availed only once a year and at any point of time, part prepayment will not rise beyond 25% of outstanding principal
  • From 13-24 months (from 1st EMI) - 5% on the part prepayment amount
  • After 24 months (from 1st EMI) - 3% on the part prepayment amount
Loan cancellation charges Rs.1,000
Loan re-schedulement charges Rs.1,000. Rs.5,000 if changes required on RC
Late payment charges 2% p.m.
Prepayment charges
  • From 07 months to 12 months (from 1st EMI) - 6% of outstanding amount
  • From 13 months to 24 months (from 1st EMI) - 5% of outstanding amount
  • After 24 months (from 1st EMI) - 3% of outstanding amount
Duplicate NOC Rs.750 per NOC
Loan statement charges Rs.750 per statement
Ammortisation schedule charges Rs.500 per schedule
Prepayment Statement charge NA
Revalidation of NOC charges NA
NOC to convert from commercial to private registration and vice versa NA
Special NOC Rs.500 per request
Processing charges for subsidies NA
Non-submission of PDD documents
  • Rs. 2500 will be imposed as one-time charge if documents are not submitted within 120 days of the date of disbursal of loan amount.
  • Penal interest levied if charge is not paid immediately.
Insurance term As per actuals

How to apply for YES Bank two-wheeler loan

Online

  • Click on the link https://www.yesbank.in/personal-banking/yes-individual/loans/bike-loan.
  • In the box given enter your name, email address, mobile number, PAN card number, date of birth, city in which you reside, annual salary, and whether you are a salaried, self-employed person or belong to another category.
  • Click on ‘Submit’.
  • A representative from the bank will get in touch with you and will assist you with the application process.

Offline method

You can download the loan application form from the page and take its print out. Duly fill the form and visit the nearest YES Bank branch to submit the form along with all the relevant documents. You can also get the loan application form from the nearest YES bank branch where you can duly fill it and submit it along with all other documents.

Once, all the documents are submitted, a representative from the bank will assist you with the application process.

FAQs about YES Bank two-wheeler loan

  1. Can I avail a two-wheeler loan from YES Bank if I wish to purchase a superbike?
  2. Yes, you can avail a two-wheeler loan from YES Bank if you wish to purchase a superbike.

  3. What are the eligibility criteria to apply for a two-wheeler loan?
  4. You must age 18 years and above and must be a salaried or self-employed individual to apply for a two-wheeler loan. Your place of residence will also determine if your application for loan will be sanctioned or not.

  5. How can I repay my loan amount?
  6. You can repay your loan through various repayment methods such as credit or debit card, UPI, net banking, etc. You can also set a standing instruction where the due amount will be deducted from your account automatically.

  7. Do I need to have a good credit score in order to apply for a two-wheeler loan?

Yes, you need to have a good credit score of at least 750 to apply for a two-wheeler loan.

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