Yes Bank Loan Against Property

Yes Bank Loan Against Property Highlights 2024
Interest Rate	Depends on the lender’s risk assessment of a borrower, quality of collateral and borrower’s income assessment.
Loan Amount	Loan against rent receivables: Up to Rs 15 crore LAP with Term Loan and DOD facility: Up to Rs 10 crore Yes Sampoorna Micro LAP: Rs 5 lakh to Rs 1 crore
Loan Tenure	1 – 15 years
Loan to Value (LTV) Ratio	Yes Sampoorna Micro LAP: Up to 70% for a residential & up to 50% for commercial property For other LAP products: Up to 85% on residential & up to 75% on commercial properties
Processing Fees	Up to 2% of the sanctioned loan amount (subject to minimum of Rs 10,000)
Minimum annual income	For salaried: Minimum income of Rs 3 lakh p.a. For self-employed: Minimum cash profit of Rs 4 lakh p.a.

Note: Interest rates as of 5th November 2024

Yes Bank Loan Against Property Interest Rates

The Yes Bank Loan Against Property interest rates depend on the bank’s risk assessment of a borrower, quality of collateral and borrower’s income assessment. Yes Bank offers a moratorium program for interest servicing for up to 2 years.

Compare Interest Rates on Loan Against Property for Top Banks & HFCs

Name of the Lender	Interest Rate (% p.a.)
State Bank of India	10.00-11.30
Bank of Baroda	10.85-18.60	Apply Now
PNB Housing Finance	9.25-15.00	Apply Now
IDFC First Bank	9.00-16.50	Apply Now
HDFC Bank Limited	9.50-11.00	Apply Now
L&T Housing Finance	9.50 onwards	Apply Now
LIC Housing Finance	9.50-11.55	Apply Now
Godrej Housing Finance	9.75 onwards	Apply Now
ICICI Bank	10.85-12.50	Apply Now
Tata Capital	9.00 onwards	Apply Now
Axis Bank	10.50-10.95	Apply Now
Punjab National Bank	10.40-12.75	Apply Now

Also Check: Loan Against Property EMI Calculator

Yes Bank Loan Against Property Fees and Charges

The processing fees and other changes for availing Yes Bank Loan Against Property are mentioned below:

Processing Fees

Particulars	Rates
Processing fees	Up to 2% of the sanctioned loan amount (subject to minimum of Rs 10,000)
Login Fees	Up to Rs 10,000

Prepayment Fees

Particulars	Rates
Prepayment charges	Nil (if both primary & co-applicants for the loan are individuals)
Part prepayment charges	Nil (if both primary & co-applicants for the loan are individuals) Nil (for part prepayment up to 25% of outstanding principal in a financial year on fixed/non-floating rate loans & loans to non-individuals) 4% plus GST (for part prepayment higher than 25% of outstanding principal in a financial year)
Foreclosure charges	Nil (if both primary & co-applicants for floating rate term loans/drop-line overdraft & lease rental discounting loans are individuals) 4% plus GST on principal outstanding (for fixed/non-floating rate loans & loans to non-individuals) Note: Principal Outstanding for Term Loans & LRD is principal balance at the time of making prepayment/foreclosure request including any amount part prepaid in the same financial year that is uncharged (if any). For DOD loans, principal outstanding refers to current drawing limits while making such a request for closure.

Other Charges

Particulars	Rates
Account maintenance charges	Term Loan: Nil Lease Rental Discounting: Rs 10,000 (payable one time only) Drop-Line Overdraft: Rs 5,000 p.a.
Commitment charges for non-utilisation of limits	Term Loan and Lease Rental Discounting: Not applicable Drop-Line Overdraft: Charges as per below grid applicable & levied if quarterly average utilization on overdraft facility is below 40% of the quarter average limits Rs 5,000 per quarter for limits up to Rs 1 crore Rs 7,500 per quarter for limits between Rs 1 crore to Rs 3 crore Rs 10,000 per quarter for limits more than Rs 3 crore
Conversion / Switch fees  to External Benchmark Rate (EBR) of the bank for floating rate loans	Up to 0.50% of current principal outstanding at time of request
Overdrawn limits	Term Loan and Lease Rental Discounting: Not applicable Drop-Line Overdraft: Existing rate on DOD facility plus 2% p.a. to be charged on entire amount outstanding till number of days limits are regularized and utilization are within current limits
EMI cycle date change request	Rs 500 per instance
Stamp duty and other statutory charges	As per applicable state laws
NESL charges (fee per LAN)	Term Loan (for individual borrower): Rs 50 Lease Rental Discounting (for company and LLP): Rs 300 for 1st loan/debt record, Rs 100 each for 2nd to 10th loan/debt record and Rs 50 each for 11th loan/debt record onwards Drop-Line Overdraft (for other commercial entities): Rs 150 for 1st loan/debt record, Rs 50 each for 2nd loan/debt record onwards
Loan cancellation charges	Rs 5,000 per instance
Late payment fees/Penal interest rate	Up to 2% per month on overdue amount
Cheque/EMI bounce charges	Rs 750 per instance
Repayment mode (Cheque/ECS/NACH/SI) swap charges	Rs 500 per instance
Statement of account/Amortisation schedule (physical mode or via branch)	Rs 100 per request
Duplicate NOC	Rs 100 per request
Prepayment/Foreclosure statement charges	Rs 100 per request
Document retrieval charges	Rs 500 per instance
List of title documents	Rs 500 per instance

Types of Yes Bank Loan Against Property

Yes Sampoorna Micro LAP

Yes Bank offers Sampoorna Micro LAP loans (starting from Rs 5 lakh for salaried and Rs 10 lakh for self-employed) against residential (self-occupied), commercial or industrial property and for purchase of commercial and industrial property.

• Loan Amount: Rs 5 lakh to Rs 1 crore
• Tenure: 1 to 15 years
• Eligible properties: Fully constructed residential, commercial & industrial properties along with Freehold / Govt. Leased properties (having permission to mortgage) with a clear & marketable title
• Loan to Value Ratio: Up to 70% for a residential & up to 50% for commercial property
• Funding to NRI profile under salaried assessment: A salaried borrower working as an offshore merchant Navy will be treated as NRI. The NRI salaried individual has to adhere to the below conditions to get funding from the bank:
  • Obtain HR confirmation from their foreign employer
  • Furnish bureau record for the foreign country wherever applicable
  • Have a Non-Financial co-applicant/guarantor (the guarantor must be residing in RB(A) approved locations.
• Property Insurance:
  • For residential properties, the insurance cover must be at least 5 years
  • For commercial properties, the borrower must renew insurance cover annually or as per the bank’s prevailing policies

Loans against residential, commercial, industrial properties and warehouse:

This facility is available both as a pure term loan and as a drop-line overdraft facility. Drop-line overdraft is a fund based credit limit sanctioned to a customer that they can use as per necessity. It also comes up with a monthly limit drop for a fixed tenure of up to 15 years. The Loan to Value Ratio is up to 85% on residential & up to 75% on commercial properties.

Loan for purchase of commercial property:

This facility is available for loan applicants looking to mortgage their existing property for buying a commercial property. The Loan to Value Ratio for this LAP product is up to 85% on residential & up to 75% for commercial properties.

Loan against rent receivables:

This loan facility is offered against the monthly rental income of LAP applicants derived from their leased out warehouse or commercial properties. The maximum loan amount offered for Loan against rent receivables is up to Rs 15 crore. The Loan to Value Ratio for Loan against rent receivables is up to 85% on residential & up to 75% on commercial properties.

Eligibility Criteria for availing Yes Bank Loan Against Property

The Loan Against Property Eligibility Criteria for availing Yes Bank LAP are as follows:

For Salaried

• Minimum annual income: 3 lakhs
• Age criteria:
  • When income is considered for eligibility: 23 – 65 years/retirement age (whichever is lower at loan maturity)
  • When income is not considered for eligibility: 18 – 70 years (at loan application/85 years (at loan maturity)
• Applicant should be employed for at least 3 years (2 years for Yes Sampoorna Micro LAP)

For Self-Employed

• Minimum cash profit: Rs 4 lakh p.a.
• Minimum turnover:
  • 15 lakhs p.a. (for commission income/service providers)
  • 10 lakhs p.a. (for doctors)
  • 60 lakhs (for non-service providers)
• Age criteria:
  • When income is considered for eligibility: 23 – 65 years/retirement age (whichever is lower at loan maturity)
  • When income is not considered for eligibility: 18 – 70 years (at loan application/85 years (at loan maturity)
• Applicant should be in the current profession/business for 3 years (For Yes Sampoorna Micro LAP, business proof of minimum 3 years is required with stability at the same address for at least 2 years)
• The properties eligible under Yes Bank LAP include freehold, govt. leased properties with a clear and marketable title (including industrial and warehouse properties). Some of the properties ineligible for funding under the LAP scheme include:
  • Properties with ownership via power of attorney
  • HUF/minor co-owned property
  • Agricultural property/Independent Land Parcel/Farmhouse/Pagri property/Wakf/Theatre
  • Hotel(Lodging & Boarding)/Hospital/School/Hostels
  • Properties in Malls
  • Properties in Villages/Slums/Lal Dora/Sitting Chawls or Multi Tenant Properties

Documents Required for Yes Bank Loan Against Property

The documentation required for availing Yes Bank Loan Against Property is mentioned below:

• Duly filled application form
• Photocopies of identity proof (with photograph): PAN card/Driving license, Voter’s ID/Passport/Ration card/Aadhaar card, Form 60/61
• Address Proof (residential and office): Voter’s ID/Driving License/Ration card/Passport/Aadhaar card/registered lease agreement with utility bills in the owner’s name (not older than 3 months)
• Income proof: For salaried applicants – Latest 3 salary slips & IT return for latest year/Form 16 for last 2 years
• Proof of signature
• For Self-employed applicants: IT returns of last 2 years with computation of income, audited profit & loss account and balance sheet including tax audit report (if applicable), and proof of turnover vide latest service/ sales tax returns
• Retail SME enterprises/Self-Employed businessmen – IT Returns of last 2 years with computation of income, audited profit & loss account and balance sheet
• Proof of Identity and Signature
• Income Documents:
  • For Salaried: Last 2 salary slips and Form 16/IT Returns for last 2 years
  • For Self Employed Professionals: Last 2 year IT Returns with computation of income, audited Profit & Loss account and Balance Sheet including tax audit report, if applicable, and proof of turnover vide latest sales/service tax returns
  • Self Employed Businessmen/Retail SME Enterprises: Last 2 year IT Returns with computation of income, audited Profit & Loss account and Balance Sheet