For purposes like working capital funding, buying machinery, , or expansion of a business, it is essential to have adequate funding sources. These sources are primarily banks who offer business loan to the firms requiring monetary assistance at an interest rate of 17% onwards. YES Bank is one of the leading private sector banks that offers lending solutions for MSMEs and business owners.
Yes Bank Business Loan Interest rate – 2021
|Rack Interest Rate Range||17% onwards|
|Loan Amount||Max. up to Rs. 50 lakh|
|Processing Fee||2%-2.5% of the loan amount|
|Repayment Tenure||From 12 months to 60 months|
|Pre-payment Charges||Nil, Until 6 months|
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank, NBFC and RBI. GST and service tax shall be levied extra on the mentioned charges.
As on 20th Jan 2021, Yes Bank introduced a Yes MSME Loan scheme through which Startups and MSMEs can avail Collateral Free loan of amount Up to Rs. 5 crore. Yes Bank’s additional features shall include pre-approved commercial credit cards, and advisory and wealth management solutions to its customers.