75 Lakh Home Loan Yes Bank

Yes Bank aims to simplify the loan process with its 75 Lakh Home Loan offering. It is designed to cater to the diverse financial needs of aspiring homeowners. The 75 Lakh Yes Bank Home Loan focuses on competitive interest rates, manageable EMIs, and transparent eligibility criteria. Furthermore, Yes Bank's home loan appeals to those dreaming of their home. With tools like the EMI calculator, borrowers can effortlessly navigate their financing options, understanding how loan tenure and interest rates affect their monthly outgoings.

Loan Highlights

It can be difficult to find your way around the home loans. Here’s a table to help you understand Yes Bank’s offerings:

75 Lakh home loan EMI for 10 & 20 years Yes Bank 

Let’s calculate the EMI for a ₹75 lakh home loan from Yes Bank at an interest rate of 9.40% for tenures of 10 and 20 years. The formula to calculate EMI is:

EMI=(1+r)n−1P×r×(1+r)n​

Where:

• ( P ) is the loan amount
• ( r ) is the monthly interest rate
• ( n ) is the number of monthly installments

For a 10-year tenure (120 months) and a 20-year tenure (240 months), the monthly interest rate ( r ) is ( \frac{9.40%}{12} ).

Let’s calculate the EMIs:

For 10 years (120 months):

EMI=(1+129.40%​)120−175,00,000×129.40%​×(1+129.40%​)120​

For 20 years (240 months):

EMI=(1+129.40%​)240−175,00,000×129.40%​×(1+129.40%​)240​

After calculating, the EMIs for the respective tenures would be approximately:

Fees and Charges

Here’s a breakdown of the fees and charges you might encounter:

• Processing Fee: Up to 1.5% of the loan amount or ₹10,000 (whichever is higher) + GST.
• Other Charges: Check for additional charges that may apply based on your loan’s terms and conditions.

Documents Required

The following documents are required to be submitted from individuals to avail of the Yes Bank 75 Lakh Home Loan:

Salaried Applicants:

• Filled Application & Photo: Required for all.
• ID Verification: Aadhaar Card (NRIs exempted).
• KYC Needs: Address, ID, and signature proofs.
• Financial ID: Pan Card or Form 60.
• Income Proof: Latest salary slip plus Form 16.
• Banking History: Bank statement of the last 6 months.

For Self-Employed:

• Application Submission: Includes a current photo.
• Identity Confirmation: The Aadhaar Card is optional for NRIs.
• Essential KYC: Includes proof of address, identity, and signature.
• Tax ID: Mandatory Pan Card or Form 60.
• Earnings Documentation: Business financials and recent ITR.
• Financial Transactions: Operative account’s last 6-month statement.

Eligibility Criteria

• Age: Between 21-70 years
• Salaried: At least 2 years of work experience
• Self-Employed: A minimum of 3 years of business stability