Yes Bank, India's fourth-largest private bank, was founded by Ashok Kapur and Rana Kapoor. The bank has received national and international acclaim. The RBI has given it the only Greenfield license in the country.
Consumers will get low-interest auto loans from Yes Bank to help them buy their dream auto, whether it's new or used. You would be able to easily obtain a loan if you have a good credit/CIBIL score.
YES BANK USED AUTO LOAN ELIGIBILITY
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Salaried Individual
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Age: 21-60 years of age.
Net Monthly Income: should be minimum ₹ 15000.
Employment Duration: Minimum one year.
Income Eligibility: Depends on Form no. 16 and Salary Slip.
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Self-Employed Individuals
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Age: 21-65 years of age.
Minimum ITR: Rs. 4 lakh, Rs. 18 lakhs. (for selected auto models)
Employment Duration: Minimum three years.
Income Eligibility: Depends on the latest Income Tax Returns.
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Self-Employed Non-Individuals (Company/Partnership)
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Minimum ITR: Rs. 4 lakh, Rs. 18 lakhs. (for selected auto models)
Employment Duration: Minimum three years
The applicant has to present IT returns and audited financials of two years with Calculated Income.
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Priority Customers
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Applicant should have a vintage of at least six months.
Average Quarterly Balance: Minimum Rs.1 lakh for last 2 quarters.
Maximum Loan Amoun: 3 X Average Quarterly Balance of Last 2 quarters.
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YES BANK USED AUTO LOAN INTEREST RATE, FEES AND CHARGES
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Charges
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New Auto Loan
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Used Auto Loan
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Interest Rate
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7.50% p.a.
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9.25% p.a.
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Processing fee
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Up to 1% of the loan amount.
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Up to 1% of the loan amount.
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Issuance of Duplicate Repayment Schedule Charges
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Rs.500 per instance.
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Rs.500 per instance,
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Foreclosure Charges
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6% of principal outstanding within six months to 24 months from 1st EMI, 5% thereafter.
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6% of principal outstanding within six months to 24 months from 1st EMI, 5% thereafter.
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Penal Interest
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2% per month
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2% per month
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HOW TO APPLY FOR YES BANK AUTO LOAN?
There are two ways to get an auto loan with YES BANK i.e.
Offline Method: By going to a Yes bank branch near you.
Online Method:
- Visit yes bank official website.
- On the home page click on go to “Personal Banking” section.
- Now go to on “Individual” section and then click on “loans”.
- Select the “Auto loan”.
- Click on apply now and complete the application form auto-fill.
- Attached are all mandatory documents with the application form and submit it.
- Now wait for few minutes and you will notice soon whether you are eligible for a loan or not.
