Yes Bank Home Loan - Features and Benefits of Yes Bank Home Loans

Fulfill your dream of owning a home with Yes Bank. Yes Bank Home Loans help you make your dream a reality without having to worry about financial constraints. It offers flexible loan tenures at competitive interest rates, which enables you to meet your financial requirements. It provides Home Loans to all the customers, including low-income groups and high-net-worth individuals.

Features and Benefits of Yes Bank Home Loans

Tax Benefit:

• The property you purchase lies as the security and is mortgaged to the bank until the loan is repaid.
• The principal amount, as well as the interest of the home loan, is eligible for tax benefits.
• As part of the Income Tax Act, 1961, the currently applicable exemption under section 24(b) is Rs. 2,00,000, and under section 80C, an additional amount of up to Rs. 1,50,000/- for the principal amount repaid in the same year can also be exempted. These amounts are subject to change as per the Income Tax Act.

• Balance Transfer Facility: Yes Bank offers the Balance Transfer facility with top-ups, which helps the applicants to transfer existing Home Loan with other banks and financial institutions at low prices.
• Long Tenures: Yes Bank offers Home Loans for longer tenures of up to 35 years, which helps in reducing the EMIs.
• Loans offered to low-income groups with a monthly income of Rs. 9000/-.
• Quick processing time to help you get the home loan faster.
• Nil Prepayment charges for floating rate Home Loan.
• Convenient doorstep service.
  

Interest Rates and Other Fees

• Interest rate - Yes Bank offers lucrative interest rates ranging from 9.60% - 12.00%.
• Processing Fee - Yes Bank applies a processing fee of 0.5% of the loan amount or Rs. 10,000, whichever is higher, and GST.
• Technical and Legal Charges - Yes Bank charges technical and legal charges which will be explained to the customer during the loan process.
• Prepayment Charges - If you decide to foreclose/transfer your housing loan to another bank, you must submit an application for the same. As per RBI, banks must not collect the prepayment charges on floating rate home loans.
  

Types of Yes Bank Home Loans

YES BANK offers a wide range of home loan to help suit your financial needs for the purchase of a property. Here is the list of the different types of Home Loans offered by Yes Bank:

Home Purchase Loan

As the name suggests, Home Purchase Loan helps you to purchase a new home or property.

Home Improvement Loan

Home Improvement Loan helps you to renovate or repair your existing home.

Home Loan Top-up

Home Loan Top-up helps to secure additional funding at home loan rates along with the existing Home Loan on the same property.

Home Loan Transfer

Home Loan Transfer will help you transfer the balance home Loan from other banks or Housing Finance Companies.

Home Loan for Self Employed

It is a tailor-made home Loan offered only for self-employed professionals and non-professionals.

Yes Khushi-Affordable Home Loan

YES KHUSHI Home Loan makes your Housing dream come alive. The loan amount offered is between 1 lakh and 28 lakhs. The Interest rate ranges from 10.25%-13.00% and the processing fee is 2% of the loan amount/Rs. 15000 whichever is higher + GST.

How to Apply for Yes Bank Home Loan

Online Method(Through Yes Bank Home Loans Portal)

• Open the online form.
• Fill in the required details such as your name, type of loan, city, and mobile number.
• You will get an instant call back from Yes Bank officials and they shall guide you through the process.
  

Online Method(Through mymoneykarma for Balance Transfer and Top-up Loans)

• Visit mymoneykarma Home Loans Portal.
• Fill in requested credentials and submit.
• Our customer care executive will get in touch with you and give you the best and the lower interest rate schemes.
• After you select the Bank you want to transfer, an executive will be sent to your home/office to collect the required documents.
• After verification, your loan will be approved.
  

Offline Method(Through SMS or Call)

• Call on 1800-419-1717 or SMS ‘YES HL’ to 9223390909.
• You will get an instant call back from Yes Bank officials, who will guide you through the process.
  

Offline Method(Through Branch)

• Visit the nearest Citibank Branch.
• Fill in the Home Loan Application form.
• Submit the form along with the required documents.
• Your documents will be verified by the bank.
• Generally, it can take up to 30 days for the application to be processed and approved/rejected.