Yes Bank Car Loan
YES Bank is an Indian Bank which is engaged in providing a range of banking and financial services. YES Bank was founded by Rana Kapoor and Ashok Kapoor in 2004.
|Industry||Banking, Financial Services|
|Founder (s)||Rana Kapoor and Late Ashok Kapoor|
YES BANK Car Loan
Yes Bank offers attractive and outstanding interest rates, flexible repayment options, as well as tenure of the loan amount range from 1 to 7 years.
The car loan interest rate at Yes Bank is based on various eligibility criteria. Yes Bank attractive car loan interest rates, assures customers of the loan amount of up to 90% of the car’s actual value. For more details about you can visit your nearest branch.
Also Read: Axis Bank Car Loan
Features and Benefits of YES BANK Car Loan
- Attractive rate of interest
- Longer repayment tenure
- Instant loan approvals
- Simple and speedy document processing
- Part payment facility is offered
- The loan can be preclosed after six months
Interest Rates and Other Charges
|Interest Rate||Ranges from 9.7% p.a.|
|Loan Amount||From Rs 1 lakh to 5 crores|
|Loan Tenure||Up to 7 years|
|Processing Fee||Rs 10,000 or up to 1% of loan, whichever is lower for new cars and Rs 6,000 or 2% of loan, whichever is lower for used car|
|Financing||Up to 100% of the on-road price of the car|
|Prepayment Charges||3% to 6% of the outstanding loan amount|
|Late Payment Charges||2% charged per month|
Yes Bank always provides its customers a continent financial solution. Car loans offered by YES BANK is always a go-to choice for many people looking to purchase a new a car.
Those who want to apply for a car loan from YES BANK they can do so through a variety of ways, such as –
- You can visit the YES BANK branch, and directly get yourself a loan
- Another way to apply is through online. You will have to visit the YES BANK website. Here, you can check the different options and the repayment plans available
- Customers who have a YES BANK account are also provided with the option to avail a pre-approved car loans
- Minimum 21 years of age
- Maximum 58 years of age at the time maturity
- Minimum Net Annual Salary Rs 3 lakhs
- Income eligibility based on latest salary slip and Form 16
- Minimum of 1-year continuous employment
- Minimum 21 years of age
- Maximum 65 years of age at the time of loan maturity
- Minimum Net Annual Business income of Rs. 2,00,000 p.a. for others
- Income eligibility based on latest Income Tax Returns
- Minimum 3 years of employment in the same line of business
- Minimum Annual Income Rs 2 lakhs
- Minimum experience in same business for 2 years
Private Limited Company
- Minimum Annual Income of Rs 2 lakh
- Last 2 years ITR and Audited Financial statement needed for confirmation
- Minimum experience in same business 2 years
- Application form
- Passport sized photographs
- KYC documents
- Office Business Proof
- Income proof
- Bank statement
- Age proof
- Sign verification proof
- Additional documents
Factors Affecting Yes Bank Car Loan Interest Rates
- Income: The income of an applicant plays an important role determining the interest rate for Yes Bank car loan. The income eligibility criteria can be improved by adding a co-borrower with a good credit history.
- Down Payment: Individuals making lump-sum down payments can get an advantage of getting lower interest rates for their car loans.
- Loan Tenure: If a borrower opt for longer loan tenure then the rate of interest will be on a high side, whereas if the borrower opt for shorter tenure the rate of interest will be lower.
- Credit Score: It is important for one to have a good credit score when they apply for a car loan. Depending on your credit score, the bank will offer a high or low interest rates.
1. What is the car loan interest rate in YES BANK?
Ans: Car loan interest rate in YES Bank ranges from 9.7% p.a. onwards.
2. What is the minimum loan amount one can opt from Yes Bank?
Ans: One can opt minimum of Rs 1 lakh from Yes Bank.
3. What is the maximum loan amount one can opt from Yes Bank?
Ans: One can opt maximum of Rs 5 crore from Yes Bank.
4. How can I apply for Yes Bank Car Loan?
Ans: You can apply through online process by visiting the bank’s website or through online by visiting the nearest bank branch.
5. What are the documents required to apply for a car loan?
Ans: The documents one required to apply for a car loan are as follows:
- ID proof
- Address proof
- 2 passport size photographs
- Income proof
- Bank statement of last 6 months
- Income Tax Returns for the
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