The Yes Bank is an Indian private bank with headquarters in Mumbai and a network of 900 branches across the country. The Yes Bank provides retail loans for products such as home loans, personal loans, car loans, and commercial vehicle loans. All you have to do is follow a few simple steps to avail of great deals.
The Yes Bank offers customers the best possible deals on car loans based on the make and model of the vehicle. The Yes Bank's interest rates are sensitive to market rates, which is why they are offered as a floating interest rate. The Yes Bank's car loan ensures that every person's dream of purchasing their dream vehicle comes true.
The Yes Bank car loan has a maximum loan amount of INR 500 Lakhs, allowing you to purchase the car model of your choice. A loan of as little as Rs.1 lakh can be obtained, which is useful when purchasing a used car. Customers can use Yes Bank's car loan scheme with the utmost assurance of clarity and a simplistic, hassle-free process.
Documents Required:
- Completely filled car loan application form.
- KYC documents as per bank rules.
- Income Documentation.
- Copies of bank statements.
- Verification of signature proof.
- Photographs in passport size.
- The loan agreement ought to be signed by the local RTO.
- Post-dated cheques (PDCs) / ECS form / Standing instruction (SI) request, if applicable, with security PDCs.
- Receipt of margin funds.
Features: Yes Bank's car loan option is brimming with customer-friendly features. Individuals, partnership firms, public/private limited companies, and other entities can apply for car loans from the bank. The loan covers up to 90% of the vehicle's cost for certain models and comes with some very competitive and attractive interest rates. The loan guarantees a minimum payment of Rs.1 lakh and a maximum payment of Rs.500 lakhs. There are also several repayment options available, with payback terms ranging from one to seven years. The borrower is charged a processing fee when their car loan is processed. The processing fee varies depending on the loan amount requested.
Fees:
- Processing fee.
- New car: Rs.10,000 or up to 1% of the loan, whichever is lower.
- Used car: Rs.6,000 or 2% of the loan, whichever is lower.
- Loan amount: Rs.1 lakh to 5 crores.
- Lowest EMI per lakh: Rs.822 (at 9.7% p.a. at a 7-year tenure).
- Loan tenure: 1 year to 7 years.
- Financing: Up to 100% of the on-road price of the car.
- Prepayment charges: 3% to 6% of the outstanding loan amount.
EMI Calculator: One can use the car loan EMI Calculator to evaluate the amount you have to pay each month. When you use the Yes Bank Car Loan EMI Calculator for determining your monthly car loan EMIs, you will need to enter a few personal details.
The following are the details you must enter:
- Choose the loan amount.
- Enter the bank's processing fees for the car loan (if any).
- Enter the Yes Bank car loan interest rate.
- Select the tenure for the loan amount.
The tool is simple to use. The calculator produces accurate results in a few seconds. The calculator could be used many times to compare different car loan interest rates.
Conclusion: The Yes Bank offers car loans with attractive interest rates starting at 9.7 percent per annum. The interest rate on your Yes Bank auto loan will be determined by factors such as your income, down payment, credit score, loan tenure, MCLR, and so on. The bank provides car loans for both new and used vehicles.
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