Yes Bank Used Car Loan

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Yes Bank Used Car Loan Key Features

Yes Bank Used Car Loan Interest Rate 7.50% per annum
Min Loan Amount ₹ 100,000
Max Loan Amount
(Loan to Value)
Loan up to 90% of Ex-showroom Price
Loan Tenure 1 year to 7 years
Yes Bank Used Car Loan 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).
Yes Bank Used Car Loan Processing Fee Up to 1% of the loan amount
Foreclosure Charges 6% of principal outstanding within 6 months to 24 months from 1st EMI, 5% thereafter
Basic Documentation ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation

About Yes Bank Used Car Loan

Yes Bank is India’s 4th largest private bank which was founded by Ashok Kapur and Rana Kapoor. The bank has received national and international recognition. It has the only Greenfield license awarded by the RBI.

Yes Bank offers Car Loans at an affordable rate of interest to the consumer for purchasing their dream car either new or second hand. You can easily avail a loan which can be procured who have a good credit/CIBIL score.

Advantages of Yes Bank Used Car Loan

Yes Bank Used Car Loan

Yes Bank Used 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 Used Car Loan Interest Rate, Fees and Charges

Charges New Car Loan Used Car Loan
Interest Rate 7.50% p.a. 9.25% p.a.
Processing fee Up to 1% of the loan amount Up to 1% of the loan amount
Issuance of Duplicate Repayment Schedule Charges Rs.500 per instance Rs.500 per instance
Foreclosure Charges 6% of principal outstanding within 6 months to 24 months from 1st EMI, 5% thereafter 6% of principal outstanding within 6 months to 24 months from 1st EMI, 5% thereafter
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 Used 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 Used Car Loan EMI Calculator

An applier has the option to check the EMI’s before availing a Car Loan. So, you can easily examine through the link below:

Car Loan EMI Calculator

Yes Bank Used Car Loan Types

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

  1. New Car Loan –  Those who desire to buy a new car, this is the plan for you. You can take a Car Loan from Yes Bank for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
  2. Used Car Loan – If you desire to purchase a used car then you can select this scheme which offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
  3. Loan Against Car – You can select this scheme if you require urgent funds where you can keep your cars as security with the bank.

Yes Bank Used Car Loan Pre Calculated EMI

How to Apply for Yes Bank Used Car Loan?

  1. Visit Dialabank and fill a simple form.
  2. Our Relationship Manager will contact you and guide you throughout the process.
  3. You can compare different offers from banks and opt for the one which suits your needs.
  4. Thus, you can easily apply for a Car Loan with Dialabank and enjoy the best offers.

Yes Bank Used 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 Used Car Loan

What is the Yes Bank Car Loan?

Yes Bank car loan is the loan amount granted to its consumers by the bank for a new or used car.

How can I get a Car Loan from the Yes Bank?

  1. Visit Dialabank and fill a form.
  2. Wait for a call from our Contact Director who will lead you during the process.
  3. You can compare different proposals from banks and choose the one which satisfies your needs.
  4. Thus, easily apply for a Car Loan through Dialabank and experience the best offers.

✅ How does Yes Bank Used Car Loan work?

When you will apply for a car loan, then you will get a call from our agent and then, there will a document verification method. Then, the loan amount will be attributed to your account.

✅ What is the Yes Bank Used Car Loan Interest Rate?

The interest rate on a car loan in the Yes Bank is 7.50% only.

✅ How to Check Car Loan status in Yes Bank?

You can follow your car loan status online on the Car loan status website.

✅ How to Calculate Car Loan Interest in Yes Bank?

Use Dialabank’s EMI calculator to find out the interest as well as the EMI on your credit.

What is the maximum loan amount I can avail of on Car Loan from the Yes Bank?

The greatest loan amount you can avail of on a car loan is up to 90% of On Road Price.

What is the loan tenure of the Yes Bank Used Car Loan?

The loan tenure of the Yes Bank Car Loan is a peak of 7 years.

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

Yes, you can get a 100% Ex-showroom Price car loan from the Yes Bank.

How much Processing Fee is applicable to the Yes Bank Used Car Loan?

Yes Bank charges a processing charge of 1% Only.

✅ What are the EMI options available on the Yes Bank Car Loan?

Yes Bank Provides two EMI options for a car loan:- Step-up EMI and Balloon EMI.

What are the charges for Prepayment in Yes Bank Car Loan?

You can prepay/foreclose your Yes Bank Car Loan with 6% of principal leading within 6 months to 24 months from 1st EMI, 5% thereafter.

Can I get a top-up loan on my existing Yes Bank car loan?

You can get a top-up loan on your current car loan from the Yes Bank for up to 150% of its value.

Do I need to provide a guarantor to avail a car loan from the Yes Bank?

Generally, you don’t need a guarantor for a car loan. Nevertheless, you may need a guarantor if you don’t fulfill the eligibility criteria.

How to get the Yes Bank Car Loan Statement?

Get the statement in person by visiting your branch and requesting a particular statement.

                                                       or

You can get the statement online. To do this, you should have Yes Bank internet banking activated.

How to Pay Yes Bank Car Loan Interest Online?

Just logon to online Yes Bank payment to ‘see and pay’ your money. You also get an electronic acknowledgment for every bill paid by you using e-PAY. You can also pay through Paytm.

What if I can’t pay the interest on Yes Bank Car Loan for 3 months?

Yes Bank imposes 24% of the exceptional amount or a Fee ranging from Rs.500 to Rs.5000 for not clearing the EMI for 3 months.

How can I apply for EMI Moratorium on Yes Bank Car Loan?

You can apply for EMI Moratorium on Yes Bank Car Loans directly from the Yes Bank website’s Loan corner.

✅ What is the number for the Yes Bank Car Loan agent?

Call Dialabank at 9878981166 as it is one of the most trusted Yes Bank Car Loan agents. Dialabank even ensures the best offers on your Car Loan.

✅ Can I close the Yes Bank car loan online?

Yes Bank car loans can be closed by visiting the nearest branch and clearing off the outstanding amount.

✅ What is the Yes Bank Car Loan Customer Care Number?

Call 9878981166 and clear any of your queries with us anytime.

✅ How can I get NOC from the Yes Bank for a Car loan?

You can get NOC directly from the branch for Yes Bank Car Loans.

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