Yes Bank Khushi Affordable Housing Loan

The YES Khushi Affordable Housing Loan is a product offered by YES Bank, designed to cater to the housing needs of individuals, making it easier for them to own a home. It features competitive interest rates ranging from approximately 10.5% to 12.5%, with flexible repayment options. The program emphasises minimal documentation for quick approval and is aimed at applicants with minimal or no income documents based on healthy banking behaviour. The scheme is designed to make housing loans more accessible, even for those with a monthly income as low as Rs 9,000, regardless of whether the income is received in cheque or cash form​.

YES KHUSHI Affordable Housing Loan – Highlights

YES Khushi Affordable Housing Loan – Features and Benefits

YES Khushi aims to make owning a home a reality for individuals focusing on affordability and accessibility. Here’s a list of features and benefits:

• Minimum Income Requirement: Rs. 9,000 per month, making it accessible to a wider range of borrowers.
  
• Flexible Loan Amount: From Rs. 1 lakh, catering to smaller property purchases or renovations.
  
• Competitive Interest Rates: Ranges from 10.5% to 12.5% per annum.
• Extended Repayment Tenure: Up to 35 years for salaried individuals and 30 years for self-employed, allowing for manageable monthly payments.
  
• Minimal Documentation: YES Khushi Loans require minimal documentation, especially for applicants with healthy banking behaviour, which speeds up the approval process.
  
• Quick Approval Process: Simplified documentation and eligibility criteria based on healthy banking habits expedite the approval process, reducing borrowers’ waiting time.

YES Khushi Affordable Housing Loan Interest Rates

YES Khushi Affordable Housing Loan offers competitive interest rates ranging between 10.5% to 12.5%. 

YES Khushi Affordable Housing Loan Fees and Charges

Below is a summary of fees and charges associated with the YES KHUSHI Affordable Housing Loan.

YES Khushi Affordable Housing Loan – Eligibility Criteria

The YES Khushi Affordable Housing Loan is designed to make homeownership accessible to a broader segment of the Indian population, particularly those in lower-income groups.  Guidelines for applicants are as follows:

• Applicant must be an Indian citizen.
  
• At the time of loan maturity, the applicant should be between 21 and 60 years old for salaried individuals and 21 to 65 years old for self-employed individuals.
  
• The scheme is notably designed for individuals with monthly incomes as low as Rs 9,000. This includes both salaried and self-employed applicants, with special consideration for those without formal income proof.
  
• For salaried individuals, a stable job history is required, with a minimum of 2 years of work experience and 1 year in the current organisation.
  
• Self-employed individuals should have a steady business income for a minimum specified period, typically around 2 years.
  

YES Khushi Affordable Housing Loan- Documents Required

The applicants must submit the following documents to avail YES KHUSHI Affordable Housing Loan.

• Identity and Address Proof : (Aadhaar Card/ PAN Card/ Voter ID Card/ Passport/ Driving License/ Income Proof)
  
• Income Proof: Last 3 months’ salary slips, Last 6 months’ bank statements reflecting salary credits, Latest Form 16 and IT returns for the past 2 years
  
• For Self-Employed Individuals/Business Owners: (IT returns for the last 2 years with computation of income, last 6 months’ bank statements of the business and personal accounts, business proof
  
• Property Related Documents: Copy of the agreement to sell, copy of the registration receipt (if applicable), copy of the sanctioned plan and sanction letter (if applicable), NOC from the builder or society (if applicable)
  
• Duly filled loan application form with affixed photographs