Yes Bank Home Loan for Self Employed

Yes Bank provides home loans tailored for self-employed professionals. It is a great option for those looking to build or buy their own home. This Yes Bank home loan for Self-Employed professionals or applicants comes with competitive rates of interest along with flexible durations for repayment. You can also apply with a family member jointly for the loan. The amount may be used for diverse reasons, right from buying new properties or renovating them to buying plots. 

Yes Bank Home Loan for Self Employed – Highlights 

Yes Bank Home Loan for Self-Employed – Fees and Charges 

The Self Employed home loan from Yes Bank fees and charges include the following: 

• 1.5% (or Rs. 10,000) as the processing fee. 
• Prepayment costs of 2.5% for loans with fixed rates. 
• Prepayment charges are zero for loans with floating rates. 
• Penal interest rates of 2% per month or 24% per annum. 
• Extra interest is charged at 2% per annum (over and above applicable rate of interest on the outstanding loan amount). 
• Rs. 2,000 is charged for cancellation/rebooking of the loan. 
• The switching charges are 0.5-1% of the loan amount outstanding. 
• The conversion charges are also 0.5% of the loan amount outstanding and may increase to 1% depending on various factors. 
• Rs. 500 is the fee for changing the EMI cycle dates. 

Yes Bank Home Loan for Self-Employed – Documents Required

The Yes Bank home loan documents required for self-employed are given below for your perusal: 

1. PAN Card or Form 60, whichever is available
2. Aadhar Card
3. KYC Proof of ID, Address, and Signature
4. Bank Statements for the Last 6 Months
5. IT Returns for the Last 2 Years with the Income Computation, Balance Sheet (Audited), Profit & Loss Account (inclusive of tax audit report if it is applicable and turnover proof with the latest service/sales tax returns)

Yes Bank Home Loan for Self-Employed – Eligibility Criteria

These are the key factors governing the Yes Bank home loan eligibility for self-employed professionals/applicants. 

• The loan is for self-employed professionals. 
• The age limit is 21-70 years. 
• The borrower should demonstrate at least three years of stability in business. 
• The minimum income per month should be Rs. 20,000 to apply for the loan.