Yes Bank Business Loan
The YES Bank business loans help you to fulfil the varying needs of your business. Whether you are thinking of starting a new business or expanding an existing one, YES Bank has loans for all your business phases.
The bank provides a maximum loan of INR 60 Lakhs with a flexible repayment tenure and competitive interest rates to make your loans more convenient and hassle-free. To know better about the YES Bank business loans, read on.
YES Bank Business Loan Interest Rate, Fees & other charges
The interest rate, processing fees and other charges of the YES Bank Business Loan are given below:
| Particulars | Charges |
|---|---|
| Interest Rate | Starts from 16% p.a. |
| Processing Fee | Ranges between 2% |
| Prepayment Charges (after 6 months) | 7-24 months: 4% of outstanding amount + Tax 25-36 months: 3% of outstanding amount + Tax 37-48 months: 2% of outstanding amount + Tax More than 48 months: Zero prepayment charges |
| Delayed EMI Payment Charges | 24% p.a. |
| Cheque Bounce Charges | INR 750 |
| Renewal Fee | Starts from INR 50 |
Table of Contents
Features & Benefits of YES Bank Business Loan
YES Bank provides comprehensive MSME solutions with competitive interest and flexible repayment options. The interest rates provided by the banks vary with the existing Marginal Cost of Funds based Lending Rate (MCLR) and the applicant’s business requirements.
Some of the features and Benefits of YES Bank Business Loan are listed below:
- The bank facilitates quick loan disbursement of up to INR 60 Lakhs soon after the approval of the loan.
- YES Bank also provides unsecured loans which do not require you to pledge any collateral.
- Maximum repayment tenure of up to 5 years i.e. 60 months.
- Provides loan with minimal and standard documentation
- Offers flexibility in choosing the loan amount in case of starting a new business or obtaining funds for machinery.
Yes Bank Business Loan EMI Calculator
Eligibility Criteria for business loan
The eligibility requirements to avail YES Bank Business Loans are:
- The age range of the loan applicant must be between 21 to 68 years.
- Entities including Partnership Firms, Sole Proprietors, Trusts, Limited Liability Partnerships, and Private Ltd Companies associated with the business of Trading/ Manufacturing/Services are qualified for a YES Bank Business loans.
- A credit score of 750+ is required
- The company should have been profitable for at least a year.
Also Read: Business Loan eligibility criteria in Detail
Documentation Required
- Proof of Identity ( PAN Card/ Driving License / Passport / Voter ID / Aadhar Card )
- Address Proof ( PAN Card/ Driving License / Passport / Voter ID / Aadhar Card/utility bills )
- Financial statements of the last 3 years along with audited statements for the last 2 years with all schedules.
- Business Continuity Proof (Shop and Establishment Certificate / Service Tax / VAT / GST Registrations)
- Latest ITR along with the computation of income for the last 2 years.
- Property documents must be provided in case of a secured business loan.
Factors Responsible for Business Loan
YES Bank provides business loans at an interest rate starts from 16% per annum. From an applicant’s perspective, it is highly essential to avail a business loan at a good interest rate and flexible repayment tenure. As the loan amount is usually high in the case of business loans, there are several factors that affect the YES Bank Business Loan interest rates. These are:
- The CIBIL Score of the business owner or the company.
- Category of the business
- Business Vintage
- Profit and Annual Turnover of the business
How to Apply for a YES Bank Business Loan
You can apply for a Business loan in YES Bank, by either visiting their nearest bank branch or going to the bank website and applying for the loan online.
Online Application Process
Visit the official website of YES Bank and go to Loan options. Select the “Loan in seconds” option Now choose the option “Business Loan”. Simply click on “Apply Online” and fill in the business loan application form.
Offline Application Process
You can apply for a YES Bank Business Loan by visiting the nearest bank branch. Fill in the business loan application form along with all the necessary documents and wait for the disbursal after the loan gets approved.
Frequently Asked Questions
What are the business products offered by YES Bank?
The business products offered by YES Bank are:
- Score-based working capital lending
- GST + Banking based working capital lending
- Banking-based working capital lending
- Cash-backed lending programme
- Supply chain banking
- GST-based working capital lending
- Commercial vehicle loans
- Construction equipment loans
- Solar panel loans
What is the interest rate for the YES Bank Business Loan?
The interest rate for the YES Bank Business Loan currently starts from 16%.
What is the maximum business loan amount that can be availed from YES Bank?
The maximum business loan amount that can be availed from YES Bank is INR 60 Lakhs.
What is the maximum repayment tenure for YES Bank Business loans?
The bank offers a maximum repayment tenure of 5 years.
What is YES Bank’s customer care number?
The YES Bank’s customer care number is 1800 – 1200 (Toll-free).
What are the two main types of loans?
The two main types of loans are secured loans and unsecured loans.
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