Yes Bank Car Loan
Team CARS24
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Yes Bank Car Loan

Team CARS24

YES BANK is among the better known private banks in India. The bank has its headquarters in Mumbai and enjoys an all India network of more than 900 outlets. Among many financial services, Yes Bank offers many retail loans such as Car Loan, Personal Loan, Home Loan, Commercial Vehicle Loan and more. Yes Bank provides car loan options of as low as Rs 1 lakh, which is something that’s useful when you’re running short of funds on buying a new car or even when buying a used car. Regardless of whether you wish to purchase a used car or a new car, Yes Bank claims to offer one of the lowest interest rates on car loans. The salient features of Yes Bank car loan are provided in the table we have below –

Interest Rate9.25%
Processing FeesUp to 1%
Loan TenureUp to 7 years
Pre-closure Charges6% of principal outstanding within 6 months to 24 months from 1st EMI, 5% thereafter 
Guarantor RequirementNo Guarantor Required

Yes Bank Car Loan Eligibility Criteria

As is the system with almost every private as well as public sector bank that exists, even Yes Bank has provided a concrete set of rules for providing car loan to the bank customers. Basically, a loan applicant is eligible to get the desired loan amount only if he meets a set of conditions. So, the applicant needs to fulfil a pre-defined set of criteria to be eligible for getting the car loan amount he wishes to borrow the money. The eligibility criteria of the Yes bank car loan applicant depends upon the following criteria:-

For Salaried IndividualsMinimum age to apply: 21 yearsMaximum permissible age at loan maturity: 58 yearsMinimum annual income: Rs.3 lakhs (3 months’ salary slips/ Form 16 needed for confirmation) Minimum work experience in current job: 1 year
Self Employed IndividualsMinimum age to apply: 21 years. Maximum permissible age at loan maturity: 65 years. Minimum annual income: Rs.2 lakhs (2 years ITR/ Previous year ITR with adv. tax challan for current year showing higher tax paid than previous year, needed for confirmation). Minimum experience in same business: 2 years. 
Partnership Firms: Minimum Annual Income: Rs.2 lakhs (2 years Audited Financials / ITR for last 2 years if audited financials not available are needed for confirmation).Minimum experience in same business: 2 years.
Private Limited Company/ Ltd. Co.Minimum Annual Income: Rs.2 lakhs (Last 2 years ITR & Audited Financial statement needed for confirmation).Minimum experience in same business: 2 years

Yes Bank Car Loan Benefits and Features

In case you have been desiring to purchase a car so that you can easily meet your transportation needs and even support your lifestyle but mean to use up your savings, you can simply bring home the vehicle of your choice by planning for a car loan at Yes Bank. As Yes Bank is one of the most popular banks in the country, it offers car loans at reasonably low rates of interest.

Yes Bank New Car Loan

Provided in the list below are some of the features highlights of Yes Bank new car loan –

  • At Yes Bank, one can apply for a car loan of up to 90% of the on-road price of a new car. That said, it should be kept in mind that this criterion isn’t applicable to all the models on sale in the market.
  • You can opt for Yes car loans for purchasing a wide range of cars and MUVs in India.
  • The loan applicant can repay the loan through any of the multiple repayment options, ranging from 12 months up to a maximum of 84 months.
  • The borrower can take a car loan of up to six times of his annual income.
  • One can check his eligibility for Yes Bank car loan in less than a minute
  • Yes bank offers fast approval of car loans, with it advertising a loan approval time of just 30 minutes.
  • There are several EMI options on each and every type of ICICI car loan.
  • The Yes Bank Car loan scheme best suited for him or her.
  • Yes Bank new car loan is available at attractive interest rates start from 8%
  • Yes Bank offers special car loan schemes to its existing customers.
  • Yes Bank offers new car loans of up to Rs. 1.5 Cr.

Yes Bank Used Car Loan

While Yes Bank offers new car loan at attractive rates, it also offers used car loans to those who are interested in purchasing a second-hand car. It should be mentioned here that obtaining a used car loan is nowhere as easy as getting a new car loan but one can still benefit from some finance options from Yes bank when buying a second-hand car in case he satisfies the eligibility criteria. Yes Bank also has a tie-up with many used car dealers across India. In the section below, , we have listed all the Yes pre-owned car loan benefits and features:

Yes Bank Used Car Loan Interest Rate
7.50% per annum
Min Loan AmountRs 100,000
Max Loan Amount
(Loan to Value)
Loan up to 90% of Ex-showroom Price
Loan Tenure1 year to 7 years
Yes Bank Used Car Loan Lowest EMI / LacRs 1,526
Minimum Net Monthly IncomeRs 15,000
Minimum ITR for Self EmployedRs 300,000
Age CriteriaSalaried: 21 years to 60 years
Self Employed: 21 years to 65 years
Types of CarsFor All New Passenger Cars, Multi Utility Vehicles (MUVs), and Sport Utility Vehicle (SUVs).
Yes Bank Used Car Loan Processing FeeUp to 1% of the loan amount
Foreclosure Charges6% of principal outstanding within 6 months to 24 months from 1st EMI, 5% thereafter
Basic DocumentationID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation

Yes Bank Loan Against Car

In case you have already paid your car loan instalments on time for a minimum of 9 months, you can opt for a top-up on your existing car loan with Yes Bank’s Loan against Car. This loan scheme enables the borrower to get an additional loan to the extent of your original loan amount, at a competitive rate of interest. Yes Bank Car Loan against Car comes with the following benefits and features:

  • Finance option of up to 90% of the original loan value of the car available
  • Car valuation is not mandatory.
  • A wide range of approved models and manufacturers are considered by Yes Bank
  • One can benefit from quick and hassle-free disbursal of the additional loan amount.

Yes Bank Car Loan EMI Calculator

Yes Bank Car Loan EMI is the fixed amount that the borrower needs to pay to the bank every month as partial repayment of your car loan. Using a car loan EMI calculator, the borrower can get to know the EMI he’ll have to pay for a certain amount. This can help him plan his finance better and, if required, even adjust the sum he plans to borrow. The free tool calculates the EMI based on the following factors –

 Factors Determining EMI
Rate of interest This has a direct relation with your EMI. Higher the rate of interest, higher will be the EMI.
Loan tenureHigher the loan tenure, lower will be the EMI. The vice versa also holds true.
Loan AmountOf course, another factor that has a direct relation with your EMI is the loan amount. More the amount you borrow, higher will be the EMI.


Q: How can I apply for a Yes Bank Car Loan?

A: You can apply for a Yes Bank car loan by using any one of the below methods.
– Apply on the Yes Bank Website.
– Visit the nearest Yes Bank branch.

Q: Where can I get a Yes Bank Car Loan Application form?

A: You can obtain a Yes Bank car loan application form at its bank branches or on the bank’s official website.

Q: What kind of four wheeler can I purchase with finance from Yes Bank?

A: You can purchase any kind of four-wheeler with a loan from Yes Bank as log as the vehicle is being purchased for personal use.

Q: How do I apply online for a Yes Bank car loan?

A: In order to apply for a used of new car loan at Yes Bank website, you need to go through the below steps-
Click on “Bank Branching” and Choose Retail Banking – Loans. Then choose Car Loans and you will see an option to Apply Now! Click on the button, fill out the form and apply.

Q: Can I check the status of my Yes Bank loan application online?

A: No, Yes Bank doesn’t provide any way to check status of Yes Bank loan application online.

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