Yes Bank Home Loan

• Attractive interest rates
• Longer loan tenure extending up to 35 years
• Easy documentation process
• Quick processing time
• Availability of Balance Transfer Facility and Top-Up facility
• Doorstep Service
• Custom-built plans for self-employed individuals

Yes Bank Home Loan rate of interest is directly linked to external benchmark i.e. 6 Month Certificate of Deposit Rate, as published by FBIL. This external benchmark rate as on June 1, 2020 is 3.88%. The effective rate of interest applicable on Yes Bank Home Loan is the combination of external benchmark and spread.

* Goods and Services Tax (GST) as applicable will be levied in addition to the mentioned charges.

Mentioned below is the eligibility criteria that a customer must satisfy to avail home loan from Yes Bank.

Following are the documents required to successfully apply for a Yes Bank Home Loan.

Yes Bank also offers home loans under the Pradhan Mantri Awas Yojana scheme to meet the housing needs of EWS/LIG/MIG segment (first time home buyers) by way of a subsidy on the Home loan. Let’s learn a bit more about this scheme.
Features & Benefits

• Interest subsidy benefit of up to 6.5%
• Approval on building designs is compulsory before construction
• Compulsory ground floor accommodation for senior citizens and differently abled
• Encourages women to be homeowners or co-applicants

Key Norms for Credit Linked Subsidy Scheme (CLSS)

Note: The PMAY/CLSS is at the sole discretion of the Government of India. The contents given in the table are parameters as mentioned under the scheme.

PMAY Eligibility Criteria

• The house to be acquired should be preferably in the name of a female head of the household or in the joint name of male head and his wife
• The beneficiary family should not own a pucca house in the name of any member of their family anywhere in India
• In case of married couples, either of the spouse or both together in joint ownership will be eligible for a single subsidy
• The beneficiary family should not have availed central assistance under any other housing scheme from the Government of India or any benefit under any scheme in PMAY

Details

• For MIG category, Aadhaar number(s) of the beneficiary family is mandatory
• Interest subsidy will be available for maximum loan tenure of 20 years or the loan tenure, whichever is lower
• A borrower can be eligible for a subsidy of up to INR 2.67 lakh under PMAY
• Subsidy benefit under PMAY-CLSS can only be availed by families buying their first house, having an annual income not exceeding INR 18 lakh
• Additional loan beyond the specified limits, if any, will be at non-subsidise rate
• There is no limit on the loan amount or the cost of the property

Yes Bank Home Loan EMI calculator can be found at www.paisabazaar.com. It facilitates easy calculation of monthly installment to be paid towards the repayment of the availed loan amount within the selected tenure. Knowing the EMI in advance helps to plan the finances better. Some of the points that affect the EMI are interest rate, loan tenure, principal amount or the amount to be borrowed and credit score.

Customers can apply online for Yes Bank Home Loan through Paisabazaar.com by simply following the below-mentioned steps.

• Follow the link https://www.paisabazaar.com/yes-bank/home-loan/
• Fill the form by providing details like the loan amount, city of the property, tenure, etc.
• On filling all the required details, click on the ‘Proceed’ button

Soon, one of the Paisabazaar representatives will contact you on the provided contact number to process your application.

Customers can reach out to Yes Bank on the below-mentioned details to get their home loan- related queries addressed.

• Message YES HL to 9223390909

• Call at 1800-419-1717

Q1. How is the loan amount eligibility calculated by Yes Bank?
The home loan eligibility and the loan amount you can receive depend on the below-mentioned factors:

• Income and Repayment capacity
• Credit History
• Age
• Number of dependents

Q2. Is there any facility provided by Yes Bank to ensure safety of the applicant’s property?
Yes Bank offers Yes Bank home protection plan to ensure safety of the applicant’s property.
Q3. What is balance transfer facility?
This facility allows the applicant to transfer his/her existing home loan with other banks to Yes Bank at comparatively lower prices.
Q4. Who can join the loan as a co-applicant?
You can include your spouse or family members as a co-applicant for the loan. However, all co-owners of the property should necessarily be the co-applicant.
Q5. Can I switch to a Floating Rate Home Loan from a Fixed Rate Loan?
Yes. 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. However, if customers wish to switch from the Base Rate/MCLR to External Benchmark, no charges are applicable. Customers can do so by visiting the nearest Yes Bank branch or writing to yestouch@yesbank.in.