Why Should You Prefer a YES Bank Home Loan Interest Rate?

Consider your search for the perfect home loan end now, as you will get to know about the amazing benefits and banking services offered by YES bank by this article. Being the fourth largest private sector bank in India, Yes bank provides you the much needed financial leverage to make your dream of owning a home true. The process of choosing the right home loan at the perfect rate of interest is a tedious task and it seems like that it will never end. But fret not because a YES bank home loan will solve all your problems at once! A Yes bank home loan provides you a loan not only for your home purchase but also for the purposes like home renovation and home repair.

Being the only bank awarded with the Greenfield License by the Reserve Bank of India in the last two decades, YES Bank home loan interest rate is the most competitive among all the players in this financial segment. With features like easy repayment options, higher loan amounts, longer tenure period, YES bank is one of the most amazing home loans to opt for. Let’s take a closer look at the other characteristics of the YES Bank home loan. 

• YES bank charges zero prepayment charges on the floating rate of interest home loans. 
• A Yes bank home loan can be availed by both the salaried and self-employed individuals. Also, NRI (Non-resident Indians) can opt for a home loan from the YES bank. 
• YES Bank home loan interest ranges from 9.85% per annum to a maximum of 12.00%.
• An applicant can also opt for the home top-up loan if there is a need for an extra amount despite having an existing home loan. 
• The home Loan transfer program is also available for the applicants who have an existing home loan in some other bank and want to transfer into YES bank.
• An applicant can enjoy several tex benefits by opting for a YES Bank home loan.
• Through a YES Bank Home Laon, you get a longer tenure up to 35 years in which you can repay the loan with a lesser amount of EMI. 
• YES Bank charges 0.5% of the total loan amount or Rs 15,000 (whichever is higher) as the processing fee.

How to access the YES Bank home loan eligibility calculator?

To check your eligibility for getting a home loan, you can access this calculator available on the YES Bank website. The process is in simple three steps. In the first step, you’ll be asked to fill the date of birth and your employment type. In the second step, you’ll be asked to fill the monthly income and monthly obligation (if any). In the third and final step, you will be asked if you want to have any co-applicant (If yes, you have to fill the monthly income and obligations). 

After completing all the steps, you’ll get to know the total loan amount you’re eligible for, the YES Bank home loan interest, your EMI, tenure period, and the processing fee in a fraction of second. It is the simplest process available in the segment. 

Eligibility criteria for opting a YES Bank Home Loan:

There are definite standards that a candidate must have to qualify to get a Home Loan from YES bank. A home loan also depends on repayment capability, age, the income of the applicant, etc. 

• Applicant’s age must be between 21 to 60 years. 
• A salaried applicant must have 2 years of work experience.
• Self-employed individuals must have two years of work stability.
• The loan amount generally lies in the bracket of Rs 10 Lakhs to Rs 5 crores.