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 that can be procured who have a good credit/CIBIL score.
Tips to decide the right amount of EMI
- Determine the amount you need to borrow: Before asking a bank for a loan, you must first determine the amount you need to borrow. After you’ve taken into account your own available funds, set a limit on how much you can borrow. Also, depending on your ability to service the EMI, aim to choose the shortest loan term possible, as long-term loans result in a significant interest outlay.
- Examine your current obligations: Before taking out a loan, it’s a good idea to assess your current monthly expenses, including any EMI obligations you might have on existing loans. After taking into account your other commitments, the appraisal will help you estimate the amount of EMI you can comfortably pay. If you’ve determined the EMI you can afford, you can choose the appropriate loan term.
- Calculate your YES car loan eligibility: Your eligibility is an assessment of your repayment capacity based on your monthly income. YES provides an LTV up to 85 % of the on-road price and expects the borrower to fund the remaining value of property by own money. For example, at its lowest LTV, YES would expect its borrowers to provide margin money. In case this margin payment is higher than your available funds as estimated by you, you might need to look for higher LTV loans, which may carry higher interest rates and hence, will result in higher EMIs.
Advantages of Yes Bank Used Car Loan
Yes Bank Used Car Loan Eligibility
The car loan eligibility requirements are as followed:
Salaried Individual |
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Self-Employed Individuals |
|
Self-Employed Non-Individuals (Company/Partnership) |
|
Priority Customers |
|
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
Documents required for car loan are as followed:
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 Car Loan Processing Fees
The processing fees are not refundable. 1% of the loan amount subject to a minimum of Rs. 5000 and a maximum of Rs 10000. In addition processing Fees on loans are as followed:
- Maintenance package Funding, Manufacturer-backed CNG Kits Funding, Asset Protection measure Funding – Rs 3000 and Manufacturer Backed Accessory Funding.
New Car Loan: Pre-owned car Loan & Loan against Car
Pre-owned car loan
Looking to purchase a pre-owned vehicle? The Yes Bank’s pre-owned car loans range from 1 lakh to 85 per cent of the value of the car you want to purchase, all with low-interest rates. When you apply for a pre-owned car loan with Yes Bank, you can expect a hassle-free application process, fast approvals, and full transfer assistance.
Loan against Car
Do you have an immediate financial requirement? You can meet your financial needs by taking out a loan against your car, which starts at 1 lakh and goes up to 50% of the car’s original loan value. The Yes Bank provides unique pre-approved deals for loan against the car to our fortunate customers, with ultra-fast processing and minimal paperwork.
Yes Bank Car Loan Customer Care – Toll-Free Number
Yes Bank 24*7 customer care toll-free number all your general enquiries is 91 22 6121 9000
Yes Bank Car Loan Interest Rates and Charges
Features | New Car Loan | Used Car Loan |
---|---|---|
Processing Fee | 1.00% Min Rs. 5,000 Max Rs. 10,000 | 2.00% Min Rs. 5,000 |
Loan Tenure | Up to 7 years | Up to 7 years |
Lowest EMI | ₹ 1,556 per lakh | ₹ 1,556 per lakh |
Loan Amount | Up to 100% of ex-showroom price | Up to 100% of market value |
Prepayment Charges | 5% from 13-24 months, 3% after 24 months | Not allowed for 6 months; 6% fee from 7-12 months, 5% from 13-24 months, 3% after 24 months |
Yes Bank Pre-Owned Car Loans Other Charges
Sr. no | Type | Charges |
1 | Cheque Bounce / Instrument Return Charges | Rs. 500 per instance |
2 | Cheque / Instrument Swap Charges | Rs. 500 per instance |
3 | Duplicate Statement Issuance Charges | Rs. 500 per instance |
4 | Duplicate Repayment Schedule Issuance Charges | Rs. 500 per instance |
5 | Duplicate No Dues Certificate / NOC | Rs. 500 per instance |
6 | Penal Interest | 2% per month |
7 | Loan cancellation / Re-booking | Rs. 2,500/ instance |
8 | Foreclosure Charges | 5% of the Principal Outstanding |
9 | Part Payment charges | 5% of the Part Payment amount |
10 | Stamp Duty | At actuals |
11 | Issuance of Credit Report | Rs. 50 per instance |
12 | Documentation Charge | Rs 500/ Instance |
13 | Registration Certification Collection Charge | Rs 200/ Instance |
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:
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:
- 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.
- 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.
- 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
Loan Amount | 2 Years | 3 Years | 5 Years | 7 Years |
1 Lakh | ₹ 4,480 | ₹ 3,090 | ₹ 1,982 | ₹ 1,512 |
3 Lakh | ₹ 13,439 | ₹ 9,270 | ₹ 5,947 | ₹ 4,535 |
5 Lakh | ₹ 22,398 | ₹ 15,450 | ₹ 9,912 | ₹ 7,559 |
10 Lakh | ₹ 44,795 | ₹ 30,900 | ₹ 19,825 | ₹ 15,117 |
How to Apply for Yes Bank Used Car Loan?
- Visit Dialabank and fill a simple form.
- Our Relationship Manager will contact you and guide you throughout the process.
- You can compare different offers from banks and opt for the one which suits your needs.
- 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 |
To check Car Loan Interest Rate for all major banks you can visit: Car Loan Interest Rates
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?
- Visit Dialabank and fill a form.
- Wait for a call from our Contact Director who will lead you during the process.
- You can compare different proposals from banks and choose the one which satisfies your needs.
- 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?
✅ 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.
News about Yes Bank Car Loan
Car Leasing vs. Car Loan: A New Perspective in Covid-19 Times
We’ve watched as people’s lives have become more fast-paced over time. The rise of the sharing economy is one such recent transition. As a result, people will choose to own less and rent or lease more in the future. Consider this: past generations believed in owning, owning, and more owning.
Prepare to pay more on your home and car loan EMIs as interest rates drop
SBI’s home loan rates rose by 25 basis points on April 1 after the bank reverted to its original interest rates after withdrawing its “limited time bid.” From April 1, the new SBI home loan rates will start at 6.95 per cent, up from 6.7 per cent until March 31, 2021.
SBI Offers 0.25 Percent Car Loan Discount
State Bank of India (SBI) is offering a 0.25 per cent car loan discount. SBI customers will also get complimentary car accessories worth up to Rs 5,000. Only Toyota customers will receive free accessories, despite the fact that SBI customers will receive a discount on their car loan.