YES Bank Home Loan Interest Rate
With its headquarters in Mumbai, YES Bank is an Indian bank lending all kinds of financial services to eligible candidates with minimum documentation. YES Bank home loan interest rate starts at 8.90% per annum. One of the most popular offerings called the Khushi Home loan interest in YES Bank ranges between 10.50% and 12.50% per annum. The maximum loan repayment tenure offered by the bank is up to 30 years, which is more than the normal tenure offered by other leading banks and NBFCs. YES Bank charges a nominal processing fee of up to 1.50% of the loan amount or Rs. 10,000, whichever is higher, plus GST for home loan applications.
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YES Bank Home Loan Key Highlights
| Amount of Loan | Up to Rs. 10 crore |
|---|---|
| Rate of Interest | 8.90% p.a. onwards |
| Processing Fees |
1.5% or INR 10,000, whichever is higher |
| Max Tenure for Loan Repayment | 30 years |
YES Bank Home Loan Interest Rates in 2024
YES Bank offers hassle-free home loans to potential home buyers at affordable interest rates. Be it to buy a home, improve an existing home, balance transfer, or top-up; YES Bank offers a home loan scheme for each at an interest rate starting at 8.90% per annum. The tables given below highlight the YES Bank home loan interest rate 2024 for different categories of loan applicants
| Loan Category | Rate of Interest on Home Loan |
|---|---|
| Salaried | 9.40% p.a. onwards |
| Self-Employed | 9.40% p.a. onwards |
Standard Home Loan Rates of Interest for Salaried and Self-Employed Applicants
One Year MCLR is 10.25%
| Loan Category | Rate of Interest on Home Loan (p.a.) |
|---|---|
| All Loan | 9.40% - 12.50% p.a. |
YES Bank Khushi Home Loan Interest Rates
| Loan Slab | Rate of Interest on Home Loan (p.a.) |
|---|---|
| All Loans | 10.50% - 12.50% p.a. |
Top-Up Loans Interest Rates
| Loan Category | Rate of Interest on Home Loan (p.a.) |
|---|---|
| Top-Up for Existing Bank Customers | 9.40% - 10.25% p.a. |
Interest rates were last updated on 24th November 2023
YES Bank Home Loan Interest Rates for All Schemes in India
YES Bank understands the varied needs of potential home buyers, and therefore, it offers a wide range of home loan schemes for their benefit. The table below will give you a clear idea of the home loan schemes offered by the bank and the standard rate of interest offered on each.
| YES Bank Home Loan Schemes | Rates of Interest for Each Plan |
|---|---|
| YES Bank Regular Housing Loan |
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| YES Khushi Home Loan |
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| YES Bank Home Improvement Loan |
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| YES Bank Top-Up Home Loan |
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| YES Bank Balance Transfer Home Loan |
|
YES Bank Home Loan Interest Rates for Balance Transfer, Top Up and Overdraft
YES Bank offers three convenient options to home loan borrowers with which they can lighten their financial burden. These three options are in the form of an overdraft facility, a top-up loan, and a balance transfer home loan scheme.
YES Bank Home Loan Balance Transfer
Like any other bank or non-banking financial company, YES Bank also offers home loan borrowers an easy way to shift their outstanding home loan amount to YES Bank at a lower interest rate. They offer this under their YES Bank home loan balance transfer scheme. The interest rate for YES Bank balance transfer starts at 9.40% per annum and might go up to 10.25% per annum.
YES Bank Home Loan Top-Up
YES Bank home loan top-up is an interesting facility offered to existing home loan borrowers to borrow additional funds on top of their original loan amount. Different banks may have different terms and conditions for top-up loans, so make sure to check the same before applying for a YES Bank top-up home loan. YES Bank home loan top-up interest rate starts at 9.40% per annum.
YES Bank Home Loan Overdraft Option
YES Bank home loan overdraft facility on home loans is a flexible way through which home loan borrowers can deposit or withdraw extra funds whenever required to meet their personal or professional needs. It saves them from the hassles of reapplying for another loan from the bank.
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Compare YES Bank Home Loan Interest Rate with Top Banks
It will be wise to compare YES bank home loan interest rates with other leading banks and NBFCs for an informed decision. The table below enlists the interest rates and processing fees of other prominent financial organizations in India providing home loans
| Bank/NBFC | Rate of Interest on Home Loan | Processing Fee |
|---|---|---|
| Bank of India Home Loan | 8.30% p.a. onwards | Nil (until 31 Dec 2023) |
| HDFC Home Loan | 8.50% p.a. onwards | Up to 0.50% of the loan amount / Rs. 3,000 (whichever is higher) + applicable taxes |
| Kotak Mahindra | 8.75% - 9.60% p.a. | 0.5% - 1.0% of loan amount + taxes |
| Tata Capital Ltd. | 8.95% - 12.00% p.a. | Up to 0.25% (Rs. 3,540 max) |
| State Bank of India | 9.15% - 12.95% p.a. | Up to 0.25% (Rs. 10,000 max) |
YES Bank Home Loan Balance Transfer Interest Rates
YES Bank allows existing home loan borrowers from other banks and NBFCs to shift their outstanding loan amount to YES Bank and enjoy a lower interest rate. This is done through the bank's balance transfer home loan scheme.
YES Bank home loan transfer interest rates range between 9.40% and 10.25$ per annum for all loans. This home loan facility is open for both salaried and self-employed borrowers. Have a look at the easiest way to apply for a YES Bank balance transfer home loan:
- Go to the Repay Right section on the BASIC Home Loan website - Repay Right
- Enter the required information in the provided form and fill in the key details on the current outstanding loan amount, existing rate of interest per annum, new rate of interest per annum, existing loan repayment tenure, and existing EMI paid on the loan amount.
- Click on Next once you have entered the required details on the form.
- You can see your total savings with the YES Bank Home Loan Balance Transfer option on the next page.
- Alternatively, you can get in touch with one of the team representatives of BASIC Home Loan, who can help maximize your savings with YES Bank Balance Transfer on home loans.
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How to Calculate YES Bank Home Loan Interest Rates?
The simplest way of determining the interest rate payable on a YES Bank home loan plan is by using the online home loan interest rate calculator available at EMI. Use this easy-to-use online EMI calculator to plan your monthly finances better without any confusion. The table below provides a detailed estimate of the EMI payable and the interest rate on YES Bank home loans
YES Bank Home Loan EMI Calculator 2024
| Loan Amount | Rate of Interest | EMI for 10-Year Loan Tenure | EMI for 20-Year Loan Tenure | EMI for 30-Year Loan Tenure |
|---|---|---|---|---|
| Rs. 10 lakh | 9.40% p.a. | Rs. 12,885 | Rs. 9,256 | Rs. 8,336 |
| Rs. 20 lakh | 9.40% p.a. | Rs. 25,770 | Rs. 18,512 | Rs. 16,671 |
| Rs. 30 lakh | 9.40% p.a. | Rs. 38,655 | Rs. 27,768 | Rs. 25,007 |
| Rs. 40 lakh | 9.40% p.a. | Rs. 51,540 | Rs. 37,024 | Rs. 33,343 |
| Rs. 50 lakh | 9.40% p.a. | Rs. 64,425 | Rs. 46,281 | Rs. 41,678 |
| Rs. 60 lakh | 9.40% p.a. | Rs. 77,310 | Rs. 55,537 | Rs. 50,014 |
| Rs. 70 lakh | 9.40% p.a. | Rs. 90,195 | Rs. 64,793 | Rs. 58,350 |
| Rs. 80 lakh | 9.40% p.a. | Rs. 1,03,081 | Rs. 74,049 | Rs. 66,685 |
| Rs. 90 lakh | 9.40% p.a. | Rs. 1,15,966 | Rs. 83,305 | Rs. 75,021 |
| Rs. 1 crore | 9.40% p.a. | Rs. 1,28,851 | Rs. 92,561 | Rs. 83,357 |
The figures in the table above are based on a 9.40% p.a. interest rate offered by the YES Bank. They may vary, however, based on the different interest rates offered by other banks, your monthly income, and other factors.
FAQ's
Yes, existing home loan borrowers from other banks and NBFCs can easily enjoy transferring their outstanding loan amount to YES Bank through a balance transfer scheme.
The current YES Bank home loan interest rate of 2023 starts at 9.40% annually. However, we suggest you verify the same by visiting the bank's official website.
YES Bank takes into account general eligibility parameters like age, monthly income, employment status, credit history, and nationality to sanction home loans to salaried and self-employed applicants.
Yes, there is a provision to prepay the home loan availed from YES Bank. The best thing is that the bank doesn’t charge any fee for prepayment of the loan amount if opted on a floater rate basis.
Any immediate family member, like a spouse, children, parent, or sibling, can be a co-applicant to a YES Bank home loan.
Yes, a home loan borrower can easily switch from a fixed rate to a floating rate YES Bank home loan. But, be ready to pay a 0.50% fee on the outstanding loan amount as a fee for the same.
The eligibility criteria to apply for a YES Bank top-up home loan are as follows:
- Age of the applicant should be between 23 - 60 years
- Work experience and a minimum income of the salaried applicant must be 2 years and Rs. 25,000 per month
- Work experience and a minimum income of self-employed applicant must be 2 years and Rs. 4 lakh per annum
- The borrower should be an existing YES Bank home loan customer
- The borrower must have a good repayment history