Yes Bank was established in Mumbai in 2004 and has its headquarters there. It provides both corporate and retail clients with a wide range of banking and financial services. Yes Bank is one of the most reputable car loan lenders. Customers who are salaried or self-employed should apply for this loan. The majority of people have a car in mind that they want to purchase for their needs. Some of them can afford it, while others cannot; some prefer low-cost, average-looking vehicles, while others want an expensive, beautiful vehicle. Most people want to buy or have a dream to purchase a certain expensive car, but they can’t because of financial constraints. Yes Bank provides the best deals for financing your dream car, as well as the best and most attractive interest rate and a simple documentation process. This car loan is available to individuals, sole proprietorship firms, partnership firms, and public/private limited partnerships.
ELIGIBILITY CRITERIA REQUIRED FOR YES BANK CAR LOAN
| ELIGIBLE | Salaried employee, self employee professionals, Partnership firm and public and private limited company. |
| AGE | For salaried employee: 21 years to 58 years.
For self employed: 21 years to 65 years. |
| MINIMUM ANNUAL INCOME | For salaried individuals: Rs.1 lakh.
Minimum one year work experience in current job. For self employed individuals/partnership firm/private limited company: Rs.2 lakh. Minimum two years experience in same business |
FEES AND CHARGES OF YES BANK CAR LOAN
| TYPE | CHARGES |
| Processing fees | Upto 1% of the loan amount. |
| Documentation charges | Rs.600 |
| Prepayment charges | 3% to 6% of outstanding loan amount. |
| Stamp duty charges | At actual. |
| Loan cancellation charges | Rs.1000. |
| Late payment fees | 2% per month. |
| Credit charges (on request) | Rs.50. |
HOW TO APPLY FOR YES BANK CAR LOAN?
There are two ways to get a car loan with YES BANK i.e.
Offline Method: By visiting near Yes bank branch.
- Online Method:
- Initially visit yes bank official website.
- At home page click on go to “Personal Banking” section.
- Now go to on “Individual” section and then click on “loans”.
- Select the “Car loan”.
- Click on apply now and complete the application form carefully.
- Attached all mandatory documents with the application form and submit it.
- Now wait for few minutes and you will notify soon whether you are eligible for loan or not.
