Yes Bank Home Loan Interest Rate at 9.85% to 12.00% as on 27 Sep 2021

INTEREST RATE9.85% to 12.00%
LOAN TENURE25 Years
PROCESSING FEE0.5% of the loan amount or Rs 10,000 whichever is higher
GUARANTOR REQUIREDNo
PRE CLOSURE CHARGESNil for floating rate loans
2.5% on the principal oustanding for fixed rate loans

Calculate Yes Bank Home Loan EMI Calculate EMI Now

About Yes Bank

Yes Bank is a private sector bank in india . It has headquarter in Mumbai. Yes Bank was founded on 2005. It has 3238 branches and

It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Find details about Yes Bank which includes Yes Bank Official Website, Yes Bank ATMs accross the India, Yes Bank Branches accross the India, Yes Bank Contact Numbers, Yes Bank official EmailID, Yes Bank Headquarter and Yes Bank Headquarter Address. Find Yes Bank Home loan purpose, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.

Other Products of Yes Bank:

Home Loan Personal Loan
Education Loan Business Loan
Car Loan Two Wheeler Loan
Gold Loan FD Interest Rates
RD Interest Rates Bank ATMs
PPF Account 

About Yes Bank Home Loan

ParticularsDescription
TypePrivate Sector Bank
IndustryBanking & Financial Services
Founded in2004
HeadquarterMumbai, Maharashtra, India
Websitehttps://www.yesbank.in/
ProductsRetail Banking, Corporate Banking, Finance, Credit Cards, Insurance, Asset Management, Wealth Management, Loans & Private Equity

Yes Bank is fourth largest private sector bank in India. It has a brand image with rich 14 years of performance having millions of satisfied customers. As on December 31, 2017, Yes Bank has 1050 branches and 1724 ATMs spread across 625 geographical locations of India. It also has representative offices in London, Dubai and Abu Dhabi. It offers a wide range of Home Loan Schemes to different classes of customers to fulfil their dream of owning a home.

Yes Bank provides home loan for different needs and purposes such as for purchase, construction, and extension of dwelling unit, repairs/ renovation of home, for purchase of house which is under construction, for purchase of plot, etc. Yes Bank offers customised Home Loan solutions, best-in-class services and simplified loan process. It offers competitive, attractive and affordable home loan interest rates.


Yes Bank Home Loan Interest Rates Updated on 27 Sep 2021

ParticularsDetails
Interest Rate8.95% onwards
Processing Fee2% of the loan amount or Rs 10000 whichever is higher (GST additional)
Loan AmountCustomised, maximum upto Rs. 5 Crores
Loan TenureUp to 25 Years
Margin10% to25% of the loan amount
Pre-closure ChargesNil prepayment charges under floating rate option
Partial prepayment chargesNil Partial prepayment charges under floating rate option
SecurityEquitable | Registered Mortgage of the Property in question

Why Yes Bank Home Loan?

  1. Yes Bank provides a range of Home Loan Schemes designed for different needs of customers
  2. Home loan interest is calculated on a daily reducing basis
  3. It has PAN India branch network provides easy access to the customers
  4. Pre Approved loan offers and preferential home loan interest rate for existing home loan borrowers
  5. It provides Flexible Repayment Options to the borrowers
  6. Quick & Hassle-free processing
  7. Easy and fast approval & disbursal of home loans
  8. Free & safe document Storage
  9. Special lower interest rate offer for women
  10. It provides rebate in Income Tax
  11. Has dedicated team of well-experienced employees
  12. Transparent process with no hidden charges
  13. Offers loan upto 90% of property value
  14. 24/7 helpline of YES Bank offers timely assistance to the customers
  15. Yes Bank, received "India's Fastest Growing Bank of the Year" award at the Bloomberg UTV Financial Leadership Awards 2011
  16. YES BANK was voted India's 3rd Most Trusted Private Bank in 2014 according to the Brand Trust Report 2014, a study conducted by Trust Research Advisory, a brand analytics company
  17. YES BANK won the golden peacock innovative produce/ service award-2017
  18. Yes Bank is the only Greenfield Bank licence awarded by the RBI in the last one decade

Purpose of Yes Bank Home Loan

  • Purchase a Plot for construction of a House
  • Purchase | construct house | flat
  • Home Extension
  • for renovation | repair | alteration | addition to house | flat
  • Take over from other Banks/ HFCs/ NBFCs/ FIs, etc.

Margin or Loan to Value Ratio (LTV) Ratio: For New Home Loan

Loan AmountMarginLTV Ratio
Up to Rs 30 lakhs10%90%
Up to Rs 30 lakhs & upto Rs. 75 lakhs20%80%
Above Rs. 75 lakhs25%75%

Eligibility Criteria of Yes Bank Home Loan

BasisSalaried CustomersNon Salaried Customers
AgeMinimum 23 years & Maximum 60 YearsMinimum 23 years & Maximum 60 Years
IncomeIncome must be atleast Rs.25,000 p.m.Annual income must be atleast Rs 4 lakhs
Job/ Business Experience2 Years2 Years
Age of Co-applicantMinimum 18 yearsMinimum 18 years

Documents Required for Yes Bank Home Loan

DocumentSalaried CustomersSelf Employed Professionals Self Employed Businessman
Application formApplication form with photographApplication form with photographApplication form with photograph
KYC DocumentsValid identity/ Residence/ Signature proofValid identity/ Residence/ Signature proofValid identity/ Residence/ Signature proof
Income Documents
  • Latest 3 months salary slip
  • Form 16/ITR for last 3 years
  • Education Qualifications Certificate and Proof of business existence
  • Last 3 years Income Tax returns (self and business) & Last 3 years Profit /Loss and Balance Sheet
  • Education Qualifications Certificate and Proof of business existence
  • Business profile/Last 3 years Income Tax returns (self and business)/Last 3 years Profit /Loss and Balance Sheet
Bank StatementLast 6 months bank statementsLast 6 months bank statementsLast 6 months bank statements
Processing feeProcessing fee chequeProcessing fee chequeProcessing fee cheque

Fees & Charges on Yes Bank Home Loan

CategoryFee & Charges
Loan Processing Charges 2% of the loan amount or Rs 10000 whichever is higher (GST additional)
Stamping ChargesApplicable as per the respective State's Stamp Act
Prepayment Interest / Foreclosure ChargesFor Floating Rate Loans: NIL & upto 2.5% for fixed rate
Part Payment ChargesFor Floating Rate Loans: NIL & upto 2.5% for fixed rate
Late Payment Penalty2% p.m. on overdue EMI
Duplicate NOCRs 100/- per request
Loan Cancellation / RebookingRs.2,000
Document retrieval charges (per advice)2% p.m. on overdue EMI
Switch charges (Floating to prevailing fixed rate)0.5% of the loan amount outstanding
Switch charges (Fixed to prevailing floating rate)1% of the loan amount outstanding
Lawyer's feesTo be borne by the borrower on the basis of actual cost
Valuation feesTo be borne by the borrower on the basis of actual cost
CERSAI ChargesRs. 50 for loans upto Rs 5 lakhs & Rs 100 for loans above Rs. 5 lakhs
EMI cycle date changeRs. 500 per instance

Yes Bank Marginal Cost of Funds Based Lending Rate (MCLR) with effect from 01.02.2021

TenorRevised MCLR (In %)
Over night6.20
One Month6.60
Three Month6.90
Six Month7.95
One Year8.40

Loan Amount of Yes Bank Home Loan

Loan offered to the borrower is completely customised as per the requirement and the eligibility criteria of the customer. The value of loan depends upon applicant's income, repaying capacity, age, assets and liabilities, credit score, tenure of the loan, cost of the proposed property, previous credit history.

Yes Bank offeres loan from Rs. 10 lakhs to Rs. 5 crores.


Margin of Yes Bank Home Loan

Margin for Yes Bank Home loan ranges from 10% to 25% of the loan amount. It depends upon the scheme and loan amount availed by the borrower.


Repayment of Yes Bank Home Loan

The repayment of Yes Bank Home Loan can be done in Maximum 30 years or upto 70 years of the age of borrower, whichever is earlier.


Security of Yes Bank Home Loan

Being it a secured loan, the borrower is required to do Equitable | Registered Mortgage of the Property in question in favour of the bank. However, the bank may ask for other security also based on the case.


Yes Bank Home Loan Schemes

Sr NoSchemeBrief Description
1Yes Bank Home LoanRegular and most demanding scheme
2Yes Bank Pradhan Mantri Awas Yojana (PMAY)Subsidised home loan for eligible beneficiaries
3Yes Bank Balance Transfer of Home LoanTransfer home loan from other institution to Yes Bank
4Yes Bank Top-Up Home LoanBorrow amount over and above home loan amount
5Yes Khushi Affordable Home LoansAffordable Home Loan Scheme
6Yes Bank NRI Home LoanNRIs and PIOs can get home loan

(1) Yes Bank Home Loan: This is a regular and most demanding home loan scheme that offers Housing Loan at attractive rates and ensure a house for all. These home loan schemes are issued in association with Dewan Housing Finance Limited (DHFL).

Important Features:

  1. Purpose: To purchase a Plot for construction of a House, to purchase/ construct house/ flat, as well as for renovation/ repair/ alteration/ addition to house/ flat, etc.
  2. Eligibility: Salaried and self employed having regular income in the age group of 21 years to 60/65 years
  3. Processing Fee: 2% of the loan amount or Rs 10000 whichever is higher (GST additional)
  4. Loan Amount: Customised
  5. Margin:10% to 25%
  6. Maximum Tenure: Max. 25 years
  7. Security: Equitable| registered mortgage of the property. If mortgage is not feasible, bank at its discretion can accept security in the form of Insurance Policies, Govt Promissory Notes, Shares and Debentures, Gold Ornaments etc.
  8. Interest Rate :Interest Rates ranges from 8.95% to 12.00%

(2) Yes Bank Pradhan Mantri Awas Yojana (PMAY)- EWS/ LIG & MIG-I/ MIG-II: This scheme offers Housing Loan to Individuals from Economically Weaker Section (EWS), Low Income Group (LIG) and Middle Income Group (MIG) I and II category at attractive rates. These home loan schemes are issued in association with Dewan Housing Finance Limited (DHFL).

Important Features:

  1. Purpose: YES Bank Home Loan is available for purchase of Residential Property only.
  2. Processing Fee: 2% of the loan amount or Rs 10000 whichever is higher (GST additional)
  3. Loan Amount: Customised, Upto Rs. 10 Crores
  4. Eligibility: Individuals from Economically Weaker Section (EWS) & Low Income Group (LIG) category. Joint owners from the same family are also eligible. Beneficiary family should not own an all weather dwelling unit either in his/ her name or in the name of any member of his/ her family in any part of India. NRIs are also eligible in this.
    • EWS households - households having an annual income up to Rs.3,00,000 and house size with carpet area upto 30 square meter.
    • LIG households - households having an annual income above Rs.3,00,000 and up to Rs.6,00,000 and house size with carpet area upto 60 square meter.
    • MIG I households - households having an annual income above Rs. 6,00,000 and up to Rs.12,00,000 and house size with carpet area upto 120 square meter.
    • MIG II households - households having an annual income above Rs. 12,00,000 and up to Rs. 18,00,000 and house size with carpet area upto 150 square meter.
  5. Subsidy
    • EWS/ LIG Borrowers will get Credit Linked Subsidy at 6.50% for upto Rs. 6 lakhs for max. 20 years. Maximum subsidy amount will be Rs 2,67,280 only.
    • MIG-I Borrowers will get Credit Linked Subsidy at 4% upto 9 lakhs for max. 20 years. Maximum subsidy amount will be Rs 2,35,068 only.
    • MIG-II Borrowers will get Credit Linked Subsidy at 3% upto Rs 12 lakhs for max. 20 years. Maximum subsidy amount will be Rs 2,30,156 only.
  6. Table for detailed subsidy scheme
    ParticularsEWSLIGMIG-IMIG-II
    Interest Subsidy (% p.a.)6.5%6.5%4%3%
    Maximum loan tenure (in years)20202020
    Eligible Housing Loan Amount for Interest Subsidy (Rs.)6 lakhs6 lakhs9 lakhs12 lakhs
    Max. Dwelling Unit Carpet Area30 Sq. m.60 Sq. m.120 Sq. m.150 Sq. m.
    Maximum Subsidy Amount(Rs.)2,67,2802,67,2802,35,0682,30,156
  • Margin:10% to 25%
  • Maximum Tenure: Max. 25 years
  • Security: Equitable| registered mortgage of the property. If mortgage is not feasible, bank at its discretion can accept security in the form of Insurance Policies, Govt Promissory Notes, Shares and Debentures, Gold Ornaments etc.
  • Interest Rate :Interest Rates ranges from 8.95% to 12.00%
  • How to apply home loan from Yes Bank under Pradhan Mantri Awas Yojana (PMAY)?

    First of all, you apply for home loan from Yes Bank and along with your loan application, you need to fill the Pradhan Mantri Awas Yojana (PMAY) Form and submit it with your loan application form with the bank. Bank will take care of its processing. Bank will check your eligibility and if you are eligible in the category you have applied for like EWS/ LIG/ MIG-I/ MIG-II, then accordingly the interest subsidy would be credited in your bank account.


    (3) Yes Bank Balance Transfer of Home Loan : This scheme enables a customer to transfer home loan from any other institution to Yes Bank. These home loan schemes are issued in association with Dewan Housing Finance Limited (DHFL).

    You can pay off any existing balance of home loan with Yes Bank Home Loan Balance Transfer at a lower rate of interest. Retain your home on terms and conditions that suits your needs.

    You can also top-up the existing loan to get ready cash for any of your needs.

    Avail Yes Bank Home Loan Transfer, if:

    Important Features:

    1. Customer should satisfy the eligibility criteria for availing Home Loan as per Yes Bank 's instruction
    2. Customer has serviced interest and/or instalment of the existing loan regularly, as per the original terms of sanction
    3. Customer should have valid documents evidencing the title to the house/ flat
    4. Processing Fee: 2% of the loan amount or Rs 10000 whichever is higher (GST additional)
    5. Maximum Tenure: Max. 25 years
    6. Security: Equitable| registered mortgage of the property. If mortgage is not feasible, bank at its discretion can accept security in the form of Insurance Policies, Govt Promissory Notes, Shares and Debentures, Gold Ornaments etc.
    7. Interest Rate :Interest Rates ranges from 8.95% to 12.00%

    (4) Yes Bank Top-Up Home Loan: HDFC Bank offers customers to borrow certain amount over and above their home loan amount. These home loan schemes are issued in association with Dewan Housing Finance Limited (DHFL).

    Important Features:

    1. Eligibility Criteria: Customer should already have a HDFC Bank Home Loan Account
    2. Processing Fee: 2% of the loan amount or Rs 10000 whichever is higher (GST additional)
    3. Margin:10% to 25%
    4. Maximum Tenure: Max. 25 years or balance original loan tenure
    5. Loan Amount: Customised
    6. It can be availed for any personal purpose
    7. The interest rates are much lower than usual personal loan interest rates.
    8. Interest Rate :Interest Rates ranges from 8.95% to 12.00%

    (5) Yes Khushi Affordable Home Loans: Yes Khushi Affordable Home Loans make your Housing dream come alive. These home loan schemes are issued in association with Dewan Housing Finance Limited (DHFL).

    Important Features:

    1. Purpose:
    2. Eligibility: Salaried and self employed having regular income in the age group of 21 years to 60/65 years
    3. Processing Fee: 1% of the loan amount or Rs. 10,000, whichever is higher (GST additional)
    4. Loan Amount: Customised
    5. Margin:10% to 25%
    6. Maximum Tenure: Max. 25 years
    7. Security: Equitable| registered mortgage of the property. If mortgage is not feasible, bank at its discretion can accept security in the form of Insurance Policies, Govt Promissory Notes, Shares and Debentures, Gold Ornaments etc.
    8. Interest Rate :Interest Rates ranges from 10.25% to 13.00%

    (6) Yes Bank NRI Home Loan: This scheme enables NRIs (Non Resident Indians) and PIO (People of Indian Origin) to get home loan. Yes bank extends home loans to its NRI applicants in association with Dewan Housing Finance Limited (DHFL).

    Important Features:

    1. Maximum Loan Amount: The applicant can get loan upto 80% of the value of the property. However, in case of purchase of plot only 75% of the value of the property can be availed as loan.
    2. Eligibility Criteria:
      • These housing loan schemes are available only to salaried applicants.
      • Customer's status should be an NRI (Non Resident Indian) or PIO (People of Indian Origin)
      • Customer should satisfy the eligibility criteria for availing Home Loan as per Yes Bank's instruction
      • Customer should earn a regular income
      • Customer's minimum employment period (in India or abroad) should be more than 2 years
    3. Interest Rate :Interest Rates ranges from 8.95% to 12.00%

    Tax Benefits of availing Home Loan

    There are two types of tax benefits associated with home loan for Resident Indians:

    Repayment of the Principal Amount: One can get a Tax rebate under section 80C of the Income Tax Act on whole amount repaid by him in a financial year, maximum upto Rs. 1,50,000/- each financial year (Increased from 1 Lakh to Rs. 1.5 Lakh in Budget 2014).

    Repayment of the Interest on Home Loan: Tax Benefit on Home Loan for payment of Interest is allowed as a deduction under Section 24(1) of the Income Tax Act. One is eligible for a Tax Rebate of maximum of Rs. 2 lakh per financial year for home loan interest paid by him/her during that financial year.


    What is the Impact of MCLR on EMI of Yes Bank Home Loan Borrowers?

    After April 1, 2016, all bank loans (including home loans) are linked to the bank's MCLR with or without a mark-up or spread (bank margin). Earlier, they were linked to the bank's base rate. All banks are required to disclose their MCLR each month.

    Banks generally hike MCLR, whenever there is a hike in Repo Rate by the RBI. Banks may increase MCLR due to surging bond yields and higher provisioning requirements, even when the RBI has not hiked Repo Rate.

    Home Loan Interest Rate can be equal to the MCLR or have a 'margin' or 'mark-up' or 'spread' but can never be lower than MCLR.

    "Home Loan Interest Rate is linked to the bank's MCLR. If MCLR goes up, the home loan rates will also go up. Home Loan Interest Rate will not be impacted by hike in MCLR only if banks reduce the mark-up (margin) in the home loan. If MCLR goes down, the home loan rates will also go down."

    For MCLR-linked home loans, the rate is reset after 6 or 12 months according to the agreement between the borrower and the bank. The interest rate applicable on the reset date will become the new rate on which the future EMI's will be calculated.


    What should Base Rate Home Loan Borrowers do?

    Home Loan Interest Rate of old home loan borrowers (who had taken home loans before April 1, 2016) are linked to the base rates of the banks. Hence the EMI which they are paying is also linked to base rate. Banks have always remained very sluggish for passing on the benefits of RBI rate cuts to the borrowers.

    Now after April 1, 2016, Home Loan Interest Rate is linked to MCLR (Marginal Cost of funds based Lending Rate) for home loan borrowers in order to resolve the problems of the Base Rate regime.

    It will be beneficial for them to switch to MCLR linked rate if the difference between what they are paying (under base rate) and what the bank is offering (under MCLR) is significant. So they must switch to MCLR linked rates, if outstanding loan is high and the remaining tenure is also long.

    In that situation, Base Rate Borrowers have following two options:

    (1) Switch to MCLR linked home loan with the same bank: It is beneficial, in case the bank is charging a nominal switching fee such as 0.50% or less on outstanding amount.

    (2) Transfer the loan to another bank on MCLR: It is feasible, if new bank has waived off processing fee (which they generally do in order to attract the customer and increase their business) or is charging very less processing fee and legal and transfer costs.

    The borrower must compare both the above-mentioned options and opt for the one which is more beneficial to them in terms of money saved. It will result not only in reduction of future EMIs but also a huge amount of interest will be saved during remaining tenure.

    One may as well continue the loan on base-rate especially if the maturity is near and need not go through the process of conversion.

    Further, the Reserve Bank (RBI) is going to link the base rate for loans given by banks to the MCLR from April 1, 2018. Once it happens, the base rate will automatically increase or decrease along with the MCLR without any specific action required for adjustment. This will be very beneficial for the home loan borrowers whose rates (EMIs) are still linked to the base rate.


    EMI Payment Methods of Yes Bank Home Loan

    You can repay Yes Bank home loan in any of the following methods:

    (1) Electronic Clearing Service (ECS): Electronic Clearing System is preferred for faster payments and collections. If you have an account with other bank than Yes Bank then you can use ECS for loan repayment. You will have to fill up a form and submit the same with your bank for debiting EMI every month from your account. In this case, your EMI will be automatically debited every month from your bank account and credited to Yes Bank towards loan repayment instalment.

    (2) Standing Instruction (SI): If you maintain your account with Yes Bank, then you can use this method. Under this method, you will have to issue a Standing Instruction to Yes Bank to debit your EMI amount on a due date every month from your Yes Bank account and credit to Yes Bank loan account towards loan repayment instalment. You save a lot of time and energy by giving standing instructions to the bank to carry out the transaction on your behalf each time.

    (3) Post-Dated Cheques (PDCs): In this method, you need to submit post-dated EMI cheques to Yes Bank for a certain period of time, which are deposited by the Yes Bank on the due date. This alternative is cumbersome and time-consuming and involve a manual procedure of visiting the Yes Bank in a timely manner.

    Points to Note Regarding EMI Payment Methods

    1. A fresh set of PDCs need to be submitted in a timely manner.
    2. Post Dated Cheques are accepted only for non-ECS locations.
    3. It is good to pay your EMIs either through the Standing Instruction or ECS for faster and timely remittance of your loan instalments.

    In case of Prepayment of Yes Bank Home Loan, will EMI change?

    One can pre-pay Yes Bank Home Loan without any prepayment charges as it allows prepayment at nil charges in case of floating rate home loans. If the borrower makes a prepayment, the outstanding balance of principal amount of his home loan reduces. Then in that case he has following 2 options:

    1. He can continue with the existing and reduce the loan tenure
    2. He can reduce the EMI and keep the loan tenure the same

    Out of above 2 options, first option is more beneficial for the borrower as he pay less interest to the bank as the pay off home loan will be faster.


    Ways to Reduce your Yes Bank Home Loan EMI


    Latest News on Yes Bank Home Loan Sep 2021


    Yes Bank Home Loan FAQ

    1. Can I give standing instructions to repay my Home Loan EMIs directly from my Yes Bank Savings Account?

      Yes, you can opt for Automated Repayment and your EMIs will be directly repaid from your Yes Bank Savings Account, thus saving you the trouble of procuring, signing and tracking post-dated cheques.

    2. What is Pre-EMI Option?

      Pre-EMI is an option in which the borrower has to pay only interest on loan amount during the progress on the construction of the project. The actual EMI payment will be started only after his/ her possessing the house.

    3. What are the various interest rates offered on home loans?

      Interest rates offered vary for women borrowers and others. Women borrowers are offered home loan at lower interest rate in Yes Bank.

    4. What is the eligibility criteria for getting Yes Bank home loan?

      The eligibility criteria for Yes Bank Home Loan is as follows:

      BasisSalaried CustomersNon Salaried Customers
      AgeMinimum 23 years & Maximum 60 YearsMinimum 23 years & Maximum 60 Years
      IncomeIncome must be atleast Rs.25,000 p.m.Annual income must be atleast Rs 4 lakhs
      Job/ Business Experience2 Years2 Years
      Age of Co-applicantMinimum 18 yearsMinimum 18 years
    5. Can joint-applications be made for Yes Bank Home Loans?

      Yes. Joint applicants can be made for Yes Bank Home Loans.

    6. Do I have the option to structure my loan as partly fixed or partly floating?

      Yes, you can structure your Yes Ltd. Home Loan as Partly Fixed or Partly Floating as per your needs.

    7. What are the maximum number of properties that I can own?

      You can own as many properties as you want.

    8. What is a Floating Rate Home Loan?

      Floating Rate Home loan refers to a loan where the interest applicable on the home loan varies with the change in the bank's benchmark rates such as base rate/ MCLR.

    9. What is a down payment?

      Down payment is the amount that is paid by the borrower on an up-front basis. Banks usually pay around 75% to 85% of the cost of the property, hence the rest amount the borrower needs to pay as down payment.

    10. What is the average tenure of a home loan?

      Home loans average tenure ranges generally between 3 and 25 years.

    11. Can I pre-pay my Yes Bank home loan? Is there any penalty?

      Yes. You can pre-pay your Yes Bank home loan with nil penalty for floating rate home loan.

    12. What security do I need to furnish for Yes Bank home loan?

      The property purchased out of the loan is taken by Yes Bank as the security. However, if Yes Bank feels then it can ask for additional securities too.

    13. Who is an NRI?

      NRI or Non Resident Indian is a citizen of India or a foreign national of Indian origin living outside India for the purpose of employment, business or any other vocation, which would indicate his intention to stay outside India for an indefinite period of time. An Indian would also be termed as an NRI if his stay in India is less than 182 days.

    14. What is the mode of payment for NRI home loans?

      Generally, payments are made through NRI Account like NRO, NRE, NRNR and FCNR accounts. NRI home loan can be paid by way of direct remittances from abroad through normal banking channels or from other financial accounts as may be permitted by RBI.

    15. What kind of job makes me eligible for Yes Bank home loan?

      You can either be a salaried employee or self-employed for obtaining this loan. However, the only condition is that you should be earning a regular income and should be able to furnish proofs of the same.

    16. What is the tax benfits available on Yes Bank home loan?

      As per Section 80C of the Income Tax Act, in case of the principal amount, you can claim a deduction of upto Rs 1.5 lakhs while in case of interest, it is upto Rs. 2 lakhs.

    17. Are long-term home loans beneficial or short-term loans?

      It dependes on the financial status of the borrower. If he wants lower EMIs then Long-term loans, if not, then he can go with short-term loans with higher EMIs with the benefit of lesser interest.

    18. Do I have to pay only fixed rate of interest or floating rate is also there in Yes Bank Home Loan?

      No, you have the option to choose any kind of rate of interest you want to pay. You can pay floating rate of interest which is linked with the MCLR and keeps changing from time to time.

    19. My EMI is increased due to an increase in the rate of interest being it flexible. What do I do for lower EMI?

      EMI increases with the increase in the rate of interest if you have opted for floating rate. You may ask your bank for increasing the loan tenure, if you want to get your EMI reduced or you can make some part pre-payment to your bank for reduction in EMI.

    20. What are different modes of payment of EMI of Yes Bank Home Loan?

      The EMI can be paid through various modes such as Post dated cheques, Electronic Clearing Service (ECS), Standing Instruction (SI), etc.

    21. Can I apply for a home loan to renovate my home or flat?

      Yes, you can apply for home loan for any purpose such as buying a home, constructing a home, repairing of your home, home improvement, balance transfer and home renovation.

    22. What is the difference between EMI and Pre-EMI?

      You repay your home loan through Equated Monthly Instalments (EMI), which includes principal and interest component. EMI repayment starts from the month subsequent to the month of final disbursement. Pre-EMI is only a simple interest, which you are required to pay every month till the loan is not fully disbursed.

    23. How to get my Income Tax certificate from Yes Bank?

      Income Tax certificate will be despatched to your after the end of financial year by Yes Bank. You may also contact your nearest Yes Bank branch or your can also send a request through its website for the same.


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    Indian BankIndian Mercantile Cooperative Bank Ltd.
    Indian Overseas BankIndusind Bank
    Jalgaon Janata Sahakari Bank LimitedJammu And Kashmir Bank Limited
    Jammu And Kashmir Grameen BankJanakalyan Sahakari Bank Limited
    Janalaxmi Coop Bank Janata Sahakari Bank Ltd
    Jharkhand Gramin BankKallappanna Awade Ichalkaranji Janata Sahakari Bank Limited
    Kalupur Commercial Cooperative BankKalyan Janata Sahakari Bank
    Kapol Cooperative Bank LimitedKarnataka Bank Limited
    Karnataka Vikas Grameena BankKarur Vysya Bank
    Kashi Gomti Samyut Gramin BankKaveri Grameena Bank
    Kerala Gramin BankKhamgaon Urban Co Op Bank Ltd
    Kotak Mahindra Bank LimitedLangpi Dehangi Rural Bank
    Laxmi Vilas BankMadhya Bihar Gramin Bank
    Madhyanchal Gramin BankMahanagar Cooperative Bank
    Maharashtra Gramin BankMalwa Gramin Bank
    Manipur Rural BankMeghalaya Rural Bank
    Mizoram Rural BankNagaland Rural Bank
    Nagar Urban Co Operative BankNagpur Nagarik Sahakari Bank Limited
    Narmada Jhabua Gramin BankNasik Merchants Cooperative Bank Ltd.
    New India Cooperative Bank LimitedNkgsb Cooperative Bank Limited
    North East Small Finance Bank LimitedNutan Sahakari Bank Ltd
    Odisha Gramya BankOriental Bank Of Commerce
    Pallavan Grama BankPandyan Grama Bank
    Paschim Banga Gramin BankPragathi Krishna Gramin Bank
    Prathama BankPravara Sahakari Bank Ltd
    Puduvai Bharathiar Grama BankPunjab And Maharshtra Cooperative Bank
    Punjab And Sind BankPunjab Gramin Bank
    Punjab National BankPurvanchal Gramin Bank
    Rajarambapu Sahakari Bank LtdRajasthan Marudhara Gramin Bank
    Rajkot Nagrik Sahakari Bank LimitedRbl Bank Limited
    Rupee Cooperative Bank Ltd.Sangli Urban Co Op Bank Ltd Sangli
    Saptagiri Grameena BankSaraswat Cooperative Bank Limited
    Sardar Bhiladwala Pardi Pepls Co BkSarva Haryana Gramin Bank
    Sarva Up Gramin BankSaurashtra Gramin Bank
    Shikshak Sahakari Bank LimitedSolapur Janata Sahakari Bank Limited
    South Indian BankState Bank Of Bikaner And Jaipur
    State Bank Of HyderabadState Bank Of India
    State Bank Of MysoreState Bank Of Patiala
    State Bank Of TravancoreSuryoday Small Finance Bank
    Sutlej Kshetriya Gramin BankSyndicate Bank
    Tamilnad Mercantile Bank LimitedTelangana Grameena Bank
    The A.p. Mahesh Cooperative Urban Bank LimitedThe Akola Janata Commercial Cooperative Bank Ltd., Akola.
    The Cosmos Co Operative Bank LimitedThe Goa Urban Co Op Bank Ltd
    The Greater Bombay Cooperative Bank LimitedThe Jalgaon Peopels Cooperative Bank Limited
    The Kapol Cooperative Bank LimitedThe Karad Urban Cooperative Bank Limited
    The Mapusa Urban Coop Bank Of Goa LtdThe Mehsana Urban Cooperative Bank
    The Nainital Bank LimitedThe Shamrao Vithal Cooperative Bank
    The Surath Peoples Cooperative Bank LimitedThe Thane Bharat Sahakari Bank Limited
    The Zoroastrian Cooperative Bank LimitedTjsb Sahakari Bank Ltd
    Tripura Gramin BankUco Bank
    Ujjivan Small Finance Bank LimitedUnion Bank Of India
    United Bank Of IndiaUtkal Grameen Bank
    Utkarsh Small Finance BankUttar Banga Kshetriya Gramin Bank
    Uttar Bihar Gramin BankUttarakhand Gramin Bank
    Vananchal Gramin BankVidharbha Konkan Gramin Bank
    Vijaya BankYes Bank
    Zila Sahakari Bank Ltd