Yes Bank Car Loan

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Buy your dream Car

Rates as low as 7.35%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Yes Bank Car Loan Key Features

Yes Bank Car Loan Interest Rate 7.35%* per annum
Min Loan Amount ₹ 100,000
Max Loan Amount
(Loan to Value)
Loan up to 90% of On Road Price
or 100% of Ex-showroom Price
Loan Tenure 1 year to 7 years
Lowest EMI / Lac ₹ 1,526
Minimum Net Monthly Income ₹ 15,000
Minimum ITR for Self Employed ₹ 300,000
Age Criteria Salaried: 21 years to 60 years
Self Employed: 21 years to 65 years
Types of Cars For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs).
Processing Fee Up to 0.40% Only
Foreclosure Charges No foreclosure are levied after the first 12 EMIs
Up to 2% before the first 12 EMIs
Basic Documentation ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation

About Yes Bank Car Loan

Yes Bank Limited is an Indian Private Sector Bank headquartered in Mumbai, India and was founded by Rana Kapoor and Ashok Kapur in 2004. It offers a wide range of banking and financial products for corporate and retail customers through retail banking and asset management services.

Yes Bank provides Car Loans at attractive rates of interest to the consumer for buying their dream car whether new or second hand. It is an easily available loan which can be procured by anyone even by ones who have a slightly low credit/CIBIL score.

Advantages of Yes Bank Car Loan

Yes Bank Car Loan

Yes Bank Car Loan Eligibility

Salaried Individual
  • Age – 21-60 years of age
  • Net Monthly Income – should be minimum ₹ 15000
  • Employment Duration – Minimum 1 year
  • Income Eligibility – Depends on Form 16 and Salary Slip
Self-Employed Individuals
  • Age – 21-65 years of age
  • Minimum ITR  – Rs. 4 lakh, Rs. 18 lakhs (for selected car models)
  • Employment Duration – Minimum 3 years
  • Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
  • Minimum ITR  – Rs. 4 lakh, Rs. 18 lakhs (for selected car models)
  • Employment Duration – Minimum 3 years
  • The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
  • Applicant should have a vintage of at least 6 months
  • Average Quarterly Balance – Minimum Rs.1 lakh for last 2 quarters
  • Maximum Loan Amount – 3 X Average Quarterly Balance of Last 2 quarters

Yes Bank Car Loan Interest Rate, Fees and Charges

Charges New Car Loan Used Car Loan
Interest Rate 7.35% p.a. to 11.30% p.a. 14.80% p.a. to 16.80% p.a.
Processing fee Up to 0.40% Only 1% of the loan amount or Rs.6,000, whichever is lower
Issuance of Duplicate Repayment Schedule Charges Rs.500 per instance Rs.500 per instance
Foreclosure Charges 5% of the principal outstanding 5% of the principal outstanding
Penal Interest 2% per month 2% per month
Part Payment charges 5% of the paid amount 5% of the paid amount
Cheque/Instrument Swap Charge Rs.500 per instance Rs.500 per instance
Documentation Charge Rs.500 per instance Rs.500 per instance
Issuance of Duplicate No Dues Certificate Charges Rs.500 per instance Rs.500 per instance
Registration Certification Collection Charge Rs.200 per instance Rs.200 per instance
Cheque Bounce/Instrument Return Charges Rs.500 per instance Rs.500 per instance
Issuance of Duplicate Statement Charges Rs.500 per instance Rs.500 per instance
Loan Cancellation/Re-booking Charges Rs.2,500 per instance Rs.2,500 per instance
Issuance of Credit Report Rs.50 per instance Rs.50 per instance

Yes Bank Car Loan Documents Required

Salaried Individual

Category Documents Required
Identity Proof

 

(Any 1)

Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof

 

(Any 1)

Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Date of Birth Proof

 

(Any 1)

Birth Certificate
Passport
Driving Licence
PAN
Signature Proof

 

(Any 1)

Passport
Bankers Verification
PAN
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of last 3 months
Employment Continuity Proof Work Experience Certificate
ITR of Form 16
Salary Slip with Joining Date
Appointment Letter
Letter of Relieving

Self-Employed Individuals

Category Documents Required
Identity Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1) Passport
Bankers Verification
PAN
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of last 3 months
Employment Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Business Proof Current Account Statement
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Registered Lease Document with other utility bills

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category Documents Required
Identity Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Income Proof Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Bank statement of last 3 months
Business Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Additional documents Authority Letter/PAN cards

2. Private Limited/Limited Companies

Category Documents Required
Identity Proof Copy of Latest MOA
Copy of Incorporation
Copy of Latest AOA
Address Proof (Any 1)
Current Account Statement
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Registered Lease Document with other utility bills
Income Proof Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Bank statement of last 3 months
Business Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Additional documents
List of Directors and Shareholding Partners
PAN Card
Board Resolution
Certificate of Commencement of Business for Ltd. Co.

Yes Bank Car Loan EMI Calculator

The applicant has the option to know the EMI’s before availing a Car Loan. Thus, you can easily check through the link below:

Car Loan EMI Calculator

Yes Bank Car Loan Types

Yes Bank offers different types of car loans to its customers. You have the option of choosing the offer which suits your need the best. It offers the following types of Car Loans:

  1. New Car Loan –  Those who wish to buy a new car, this is the scheme for you. You can take Yes Bank Car Loan for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
  2. Used Car Loan – If you wish to buy a used car then you can choose this scheme which offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
  3. Loan Against Car – You can opt for this scheme if you are in need of urgent funds where you can keep your cars as collateral with the bank where you can get Rs. 10 lakh or up to 50% of your car’s value.

Yes Bank Car Loan Pre Calculated EMI

How to Apply for Yes Bank Car Loan?

  1. Visit Dialabank and fill a form.
  2. Wait for a call from our Relationship Manager who will guide you throughout the process.
  3. You can compare different offers from banks and choose the one which suits your needs.
  4. Thus, easily apply for a Car Loan through Dialabank and enjoy best offers.

Yes Bank Car Loan for Top Selling Cars

Other Available Products from Yes Bank

Yes Bank Personal Loan Yes Bank Gold Loan Yes Bank Home Loan
Yes Bank Credit Card Yes Bank Two Wheeler Loan Yes Bank Education Loan

FAQs for Yes Bank Car Loan

✅ What is Yes Bank Car loan?

Car loan refers to the various financial products which allow someone to acquire a car, including car finances and leases.

✅ How can I get Car Loan from Yes Bank?

There are two main ways in which one can avail a car loan from Yes bank. One is through online application and the other is through in-branch application. The existing customers could also be eligible for pre-approved car loans based on terms and conditions.

✅ How does the Yes Bank Car loan work?

Yes Bank gives car loans at extremely attractive interest rates based on your eligibility and the amount you borrow as loan and the loan period that you choose. Any salaried or self-employed borrower between the ages of 21-58 years with a decent credit score, a constant occupation, and a firm income is qualified to apply for a Yes Bank car loan.

✅ How to check Car Loan status in Yes Bank?

You can check your car loan status in Yes Bank by visiting the nearest branch or by checking the bank’s website.

✅What is the maximum loan amount that i can avail on car loan from Yes Bank?

N/A

✅ What is the loan tenure of Yes Bank Car loan?

The loan tenure of Yes Bank ranges from 1 year to 7 years.

✅ Can I get a 100% Car loan from Yes Bank? 

100% loan amount will be provided on the on-road price of the vehicle for selected models. It offers the most competitive interest rates in the industry. There will be multiple repayment options available.

✅ Can you prepay your Yes Bank Car Loan?

You can prepay/foreclose your Yes Bank Car Loan at a charge of 5% of the outstanding principal amount.

✅ Does Yes Bank Car Loan charge any Processing Fees?

Yes Bank charges a processing fee of up to 0.40% Only.

✅ Can I get a Yes Bank Car Loan if I have a low Credit score? 

Yes Bank Car Loan requires you to have a good credit score of 700 or above. However, in certain cases, the loan application may be approved in case credit score is below 700.

✅ What can you keep as Security with Yes Bank to get a Car Loan?

You do not need any other security other than the car itself to get Yes Bank Car Loan.

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