Yes Bank - 12.00% for Loan Against Property - Loan Against Commercial Property

Yes bank Loan Against Property:

Yes bank is one of the largest private sector bank in the country that offers the lowest rates on loan against property.

Currently the bank offers loans starting from 12.00% to 14.00% * p.a. with the quick approval.

The bank offers the special features and attractive rates for different income and occupation groups.

Some of the features are mentioned below:

Interest Rate

Yes Sampoorna Micro LAP: 12% – 14% p.a.

For other LAP products: Depends on bank’s risk assessment of a borrower, quality of collateral and borrower’s income assessment.

Loan Amount

Loan against rent receivables: Up to Rs. 15 crores

LAP with Term Loan and DOD facility: Up to Rs. 10 crores

Yes Sampoorna Micro LAP: Rs. 5 lakhs to Rs. 50 lakhs

Loan Tenure

1 – 15 years

Loan to Value (LTV) Ratio

Yes Sampoorna Micro LAP: Up to 70% for a residential & up to 50% for commercial property

For other LAP products: Up to 85% on residential & up to 75% on commercial properties

Processing Fees

Up to 2% of the sanctioned loan amount (subject to minimum of Rs. 10,000)

Minimum annual income

For salaried: Minimum income of Rs. 3 lakhs p.a.

For self-employed: Minimum cash profit of Rs. 4 lakhs p.a.

 

Note: The maximum loan amount that a customer can avail against the value of a residential property is 85%, and for a commercial property it is 70%.

Yes Bank offers higher loan amount under Loan against Property (LAP) at attractive interest rates which depend on the External Benchmark prescribed by the RBI.

Availing a LAP, a type of secured loan, from Yes Bank provides the flexibility to use both residential and commercial property as collateral.

The funds availed against the property can be used by a customer to fulfil his/her personal as well as business requirements.

 

Taking a loan from Yes Bank has the following benefits:

1. Option of term loan or an overdraft facility

2. Customized repayment option

3. Special interest rate for SMEs

4. Freedom to use funds for any financial need like funding children’s education, expanding business, etc.

5.Swift and hassle-free loan processing

6. Easy application procedure and simple documentation

 

Yes Bank Loan against Property

Apply:

If you want to get a loan against property from Yes Bank, the process to get the loan is fairly easy.

All you need to do is to apply for a home loan at Apnarupee.com.

We are a channel partner of all top banks in India including HDFC, SBI, Axis Bank, ICICI, etc.

Your loan application will be processed and Yes Bank (Loan against Property) Loans representatives will get in touch to begin the process of getting a home loan.

You will also be assisted by Apnarupee.com housing loan advisor to ensure that all the lending process is smooth, quick and you get the best loan against property from Yes Bank.

You can also do a comparison of Yes Bank Loan against property rates and other charges using the Apnarupee.com comparison tool.

Once you apply online, you can check the real-time status of your loan against property in your customer account section of Apnarupee.com.

 

Factors Affecting Yes Bank Loan against Property Interest Rates:

Loan amount: 

Property loan rates in Yes Bank depend upon the loan amount you apply.

 

Your Net Monthly Income: 

Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for higher loan amount.

 

Type of loan opted for: 

Yes Bank offers differential rates for customer’s different profiles and also fixed and floating rate schemes. Loan against property interest rates may be higher or lower for special loan products.

 

Type of property: 

Typically, loans against prime residential properties are easier to get and can be availed at the lowest rates compared to loans against commercial and industry properties.

 

Your profession: 

Yes Bank may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman.

A self-employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or business compared to salaried people who will most likely take a mortgage loan for his personal

purposes.

 

Yes Bank Loan Against Property Documents Required:

For Self-Employed:

1. Filled up loan application form

2. 2 Passport Size Photo

3. ITR of last 3 years

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

6. Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of

business existence and business profile

 

For Salaried employee:

1. Filled up loan application form

2. 2 Passport Size Photo

3. ITR of last 2 years

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

6. Income Documents – 6 months’ pay slip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

 

Property documents:

1. Registered Sale Deed/ Conveyance/ Lease Deed

2. Past Sale Deeds Chain (each transaction in respect of this property since first allotment

3. Latest House Tax Return/ Receipt

4. Approved Building Plan from Municipal Corporation

 

Yes Bank Schemes:

1.Yes Bank Lease Rental Discounting (LRD):

1. Yes Bank offers lease rental discounting (LRD) loans to salaried and self-employed borrowers with rental income from a reputed lessees or a lessees with healthy balance sheet.

2. Under LRD loans Yes Bank discounts a borrower’s future net rentals to offer a term loan.

The loan amount Yes Bank offers in LRD scheme can go up to eighty times of net monthly rentals, subject to the expiry clauses of lease agreement.

3. Yes Bank offers a lease discount loan against commercial and industrial type of properties leased for over 1 year with renewable clause in the rental agreement.

 

Key features of Yes Bank Lease Rental Discounting

Eligible Borrowers: Salaried, self-employed individuals, firms and companies.

Type of property: Commercial shops and offices

Tenure: up to 20 years, depending on lease term of the rented property.

Loan amount: Rs. 10 Lakhs to Rs. 10 Crores

 

2. Yes Bank Commercial Property Purchase Loan:

Commercial property buyers can take a commercial property purchase loan from Yes Bank with a competitive interest rate,

below are the features of Yes Bank commercial property purchase loans:

 

Key features of Yes Bank Lease Rental Discounting

1. Eligible Borrowers: Salaried, self-employed and a businesses.

2. Type of Property: the bank offers a commercial property purchase loan only for properties where the stage of construction is more than 80 percent or for ready resale properties.

3. Tenure: up to 20 years

4. Loan amount: from Rs. 10 lakhs to 10 crores

 

3. Yes Bank Mortgage Loan Interest Rate:

Yes Bank LAP rate depends on below mentioned factors:

Loan amount: the bank offers lower interest rate for higher loan amount.

Income eligibility of applicants: Income eligibility of the loan applicant/s is one of the important factor deciding the interest rate Yes Bank will offer.

CIBIL score: Higher CIBIL score will help a mortgage loan borrower to get a better rate from Yes Bank.

Profile of loan applicants: a borrower’s profession or business profile also plays an important role while deciding the mortgage loan rate from Yes Bank ,

it is lower for the salaried and self-employed individual and slightly higher or businesses. 

Type of collateral security: rate is lower for residential property and higher for commercial and industrial properties.

Type of loan: bank offers lower interest rate for a term loan and slightly higher rate for an overdraft facility. 

 

4. Yes Bank Loan against Property Advantages

Higher Loan Amount Eligibility: bank can offer you an EMI up to 70 percent of your net monthly income.

Lowest Interest Rate: for mortgage loan in India

Quick and doorstep services: provides doorstep services till the loan is disbursed.

Advantage for the self-employed: self-employed individuals can take advantage from customized loan options and specially designed programs.

Easy Documentation: it requires simple documents to process a loan.

 

5.Yes Bank over LAP Draft Facility

Salaried and Self-employed borrowers taking a loan against property from Yes Bank have an option to take either a term loan or a drop line overdraft (DL OD) facility,

in case of an OD limit the borrower pays interest only on used loan amount and not on entire sanctioned loan amount but continues to pay a regular EMI for the loan,

wherein the additional amount from the EMI get adjusted into the principal loan amount.

 

Key features of Yes Bank LAP OD:

Overdraft facility is available for self-employed borrowers.

One time sanction of the OD limit for original tenure of the loan and no need to re-new it every year.

Interest payable only on used sum of amount and not on sanctioned limit.

It’s a drop line OD wherein the limit get reduced every month by additional principal amount a borrower is paying on the loan amount.

 

6. Yes Bank Mortgage Loan Balance Transfer

Yes Bank offers mortgage loan balance transfer facility (LAP Transfer) to borrowers having a loan with other lenders with one of the lowest interest rate,

processing fees and higher tenure to the customers transferring their mortgage loan to Yes Bank. Below are the reasons to transfer your loan to Yes Bank:

1. Option to revise the tenure of loan

2. Lowest rate of interest for drop line OD or term loan

3. Option to take a drop line overdraft

4.Higher loan amount against net monthly income.

5. Faster process

6. Doorstep services   

 

Frequently Asked Questions:

 

Q. Why Choose Yes Bank Mortgage Loan?

Ans. Yes Bank offers one of the lowest interest rate of interest for mortgage loans and provides one of the best pre and post sales services in the industry with the help of its bank branch network.

Yes Bank also offers highest tenure for self-employed and salaried category of borrowers.

 

Q. What type of properties Yes Bank can take as collateral security for a Loan against Property or LAP loan?

Ans. Yes Bank offers a LAP loan against a residential and commercial properties.

 

Q. What is the minimum loan amount Yes Bank offers under mortgage loan?

Ans. Yes Bank offers a minimum loan amount of Rs. 10 Lakhs and maximum loan amount up to Rs. 10 crores.

 

Q. What are the documents required to apply for Yes Bank Loan against property?

Ans.  Three types of documents required to apply for a Yes Bank mortgage loan- KYC documents, financial documents and property documents

1. KYC Documents- photo identity proof, residence address proof, office address proof, to meet these requirements a borrower can provide Aadhaar Card, PAN Card, shop and establishment certificate etc.

2. Financial document for self-employed borrowers- Audited report, ITR, Balance sheet for latest 3 financial years, banks statements of all the accounts for last 1 year, business profile etc.

Financial document for salaried borrowers – latest 3 month’s salary slips, latest 2 years ITR, bank statement of salary account for 1 years and details of all the loans.

3. Copy of property documents.

 

Yes Bank Loan against Property News - March 2023:

 

2021-10-04: Yes Bank Posts Growth in Loans and deposits.

Yes Bank has posted growth of 3.6% (year- on –year) in advances at rs.1, 72,945 crore for the quarter ended September 2021 (Q2FY22). Its advances stood at Rs 1, 66,923 crore at end of September 2020.

 

2021-07-85: Yes Bank loans, advances shrink marginally at Rs. 1.63 lakh cr by end of June quarter

Yes bank Loans and advances that include Personal Loan, Home Loan, Loan against property, business loan and top up loan fell by a marginal 0.4% to Rs 1.63 lakh crore by the end of the June 30, 2021 data from the bank

showed on Monday.

The loans and advances stood at Rs. 1,63,914 crore as of June 30,2021 as compared with Rs. 1,64,510 crore in the year ago period , registering a marginal decline of 0.4% on a year – on – year basis.