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Yes Bank Home Loan for Bank Employees

Yes Bank Home Loan for Bank Employees

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Yes Bank provides exclusive home loan schemes for bank employees, making it easier for them to fulfil their property-purchase dreams. The bank provides flexible repayment options, low interest rates, and a hassle-free application process. Bank employees can avail of a loan amount of up to Rs. 10 crores with a repayment tenure of up to 35 years. The bank also offers a 100% top-up loan facility, which allows employees to borrow additional funds for home renovation or other purposes. With a dedicated team of professionals to assist with the application process, Yes Bank Home Loan for Bank Employees is a great option for those looking to buy or build their dream home.

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Table of Content

1. Yes Bank Home Loan for Bank Employees Highlights

2. Yes Bank Home Loan for Bank Employees Fees and Charges

3. Yes Bank Home Loan for Bank Employees Documents Required

4. Yes Bank Home Loan for Bank Employees Eligibility Criteria

Written By

Thejus KS

A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.

Reviewed By

Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Yes Bank Home Loan for Bank Employees – Highlights

Feature	Description
Interest Rate	9.40%-12.50% p.a.
Loan Amount	Rs 10 lakh-Rs 10 crore
Tenure	Up to 35 years
Any Hidden Charges	No hidden charges

Yes Bank Home Loan for Bank Employees – Fees and Charges

Yes Bank has no hidden charges, and all related fees and charges are stated upfront before the loan agreement is signed. Here are the major fees and charges associated with the Yes Bank Home Loan for Bank Employees.

Category	Fees
Processing Fee	1.5% or Rs. 10,000, whichever is higher (Rs. 7,500 is non-refundable in case the disbursal has not been availed)
Part-Payment/Prepayment/Loan Pre-closure/Foreclosure Fees	Nil for floating rate loans 2.5% on the principal outstanding for fixed-rate loans
Late Payment Fees / Penal Interest Rate (Default Interest Rate)	24% per annum i.e. @2% per month on the overdue instalment(s)
Additional Interest	2% p.a. over and above the applicable interest rate on the loan outstanding
Repayment Mode / Cheque Swap Charges	Rs. 500
Loan cancellation/Rebooking	Rs. 2,000 (additionally franking/stamping norms as per actuals, if applicable)
Switch charges (Floating to the prevailing fixed rate only if the bank permits the same at the time of request)	0.5% of the outstanding loan amount
Switch charges (Fixed to prevailing floating rate only if the bank permits the same at the time of request)	1% of the outstanding loan amount
Conversion charges (Higher Floating rate to lower floating rate, only if the bank permits the same at the time of request)	0.5% of the outstanding loan amount
Conversion charges (Higher Fixed rate to lower Fixed-rate, only if the bank permits the same at the time of request)	1% of the outstanding loan amount
EMI cycle date change	Rs. 500

Yes Bank Home Loan for Bank Employees – Documents Required

Aadhaar Card
Pan Card/Form 60
Last 6 Months Bank Statement where salary is credited or current operational account.
KYC documents (address proof, identity proof, and signature proof)
Last 2 years’ Salary Slip and IT returns/ Form 16 (for salaried applicants)
Last 2 years’ IT returns with computation of income, audited Balance Sheet, and Profit & Loss account, including tax audit report if applicable and proof of turnover, with latest sales/service tax returns (for self-employed applicants).

Yes Bank Home Loan for Bank Employees – Eligibility Criteria

Here are the Yes Bank home loan for bank employees eligibility criteria.

Special preference: bank employees with a Yes HONOUR salary account will get special preference.
Credit Score: While credit score is not mandatory, having a score of 750 or higher increases the chance of approval.
Age: 21-70 years
Work Experience: 2 years for salaried.

Frequently Asked Question (FAQs)

Can we avail PMAY subsidy with Yes Bank staff home loan?

Applicants applying for the Yes KHUSHI Affordable Home Loan can avail the PMAY subsidy.

Who is eligible for a Yes Bank staff home loan?

All public and private bank employees are eligible to apply for the Yes Bank Home Loan.

What are the benefits of Yes Bank employee home loan?

Flexible repayment tenure of up to 35 years.
Special affordable home loan schemes are available for low-salary bank employees.
Yes Bank home loan for bank employees interest rate starts just from 9.40% p.a.

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