Yes Bank Car Loan Key Features – Jan 2021
| Yes Bank Car Loan Rate of Interest | 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 |
| Yes Bank car loan 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 Yes Bank 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 Eligibility
| Salaried Individual |
|
| Self-Employed Individuals |
|
| Self-Employed Non-Individuals (Company/Partnership) |
|
| Priority Customers |
|
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:
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:
- 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.
- 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.
- 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?
- Visit Dialabank and fill a form.
- Wait for a call from our Relationship Manager who will guide you throughout the process.
- You can compare different offers from banks and choose the one which suits your needs.
- 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 Car 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 Yes Bank Car Loan status?
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?
Contact the Bank for details regarding the same.
✅ 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?
✅ 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.
✅ What is the Yes Bank Car Loan closure procedure?
- Just go to the bank with the documents.
- Write a letter for pre-closure of the Yes Bank Car Loan account.
- Pay the pre-closure charges as per Yes Bank Car Loan.
✅ What is the Yes Bank Car Loan preclosure charges?
Yes Bank Car Loan preclosure charges are up to 2% before the first 12 EMIs.
✅ What is the Yes Bank Car Loan maximum tenure?
The Yes Bank Car Loan maximum tenure is 7 years.
✅ What is the Yes Bank Car Loan minimum tenure?
The Yes Bank Car Loan minimum tenure is 1 year.
Table of Contents
- 1 Yes Bank Car Loan Key Features – Jan 2021
- 2 About Yes Bank Car Loan
- 3 Advantages of Yes Bank Car Loan
- 4 Yes Bank Car Loan Eligibility
- 5 Yes Bank Car Loan Interest Rate, Fees and Charges
- 6 Yes Bank Car Loan Documents Required
- 7 Yes Bank Car Loan EMI Calculator
- 8 Yes Bank Car Loan Types
- 9 Yes Bank Car Loan Pre Calculated EMI
- 10 How to Apply for Yes Bank Car Loan?
- 11 Yes Bank Car Loan for Top Selling Cars
- 12 Other Available Products from Yes Bank
- 13 FAQs for Yes Bank Car Loan
- 13.1 ✅ What is Yes Bank Car loan?
- 13.2 ✅ How can I get Car Loan from Yes Bank?
- 13.3 ✅ How does the Yes Bank Car loan work?
- 13.4 ✅ How to Check Yes Bank Car Loan status?
- 13.5 ✅What is the maximum loan amount that I can avail on car loan from Yes Bank?
- 13.6 ✅ What is the loan tenure of Yes Bank Car loan?
- 13.7 ✅ Can I get a 100% Car loan from Yes Bank?
- 13.8 ✅ Can you prepay your Yes Bank Car Loan?
- 13.9 ✅ Does Yes Bank Car Loan charge any Processing Fees?
- 13.10 ✅ Can I get a Yes Bank Car Loan if I have a low Credit score?
- 13.11 ✅ What can you keep as Security with Yes Bank to get a Car Loan?
- 13.12 ✅ What is the Yes Bank Car Loan closure procedure?
- 13.13 ✅ What is the Yes Bank Car Loan preclosure charges?
- 13.14 ✅ What is the Yes Bank Car Loan maximum tenure?
- 13.15 ✅ What is the Yes Bank Car Loan minimum tenure?
