For things like buying equipment, getting working capital, or growing a company, financing sources are needed. Yes Bank offers company loans with repayment periods of up to 60 months and low interest rates starting at 16%. Yes Bank offers loans up to ₹50 lakh for easy access to money. Check out Federal Bank Personal Loan.
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Features and Benefits
The features and benefits listed below attest to the reliability of business loans from Yes Bank.
- Retail business loans from Yes Bank can be availed without any collateral.
- Comparatively, Yes Bank offers loans up to ₹50 lakh, which is higher than its competitors.
- The applicant will get complete details of all charges including the interest rate.
- Yes, Bank launched the Yes MSME Loan Scheme on January 20, 2021, allowing MSMEs and startups to avail of loans up to ₹5 crore without the need for any collateral.
- Additionally, Yes Bank also offers asset and advisory management options as well as pre-approved business credit cards to its customers.
- Repayment terms are flexible, with options ranging from 12 to 60 months.
Eligibility Criteria for YES Bank Business Loan
To qualify for a Yes Bank business loan, the following criteria must be met:
- Age Range25 – 68 years
- Applicant TypeMust be part of an MSME business operating in the service, manufacturing, or trading sectors
- Eligible EntitiesSole ProprietorshipsPrivate Limited Companies (Pvt. Ltd.).
Self-Employed ProfessionalsLimited Liability Partnerships (LLP)Closely Held CompaniesPartnerships - Additional EntitiesProfessionals: Chartered Accountants (CA), Doctors, Company Secretaries (CS), and Architects.
Non-Professionals: Manufacturers, Service Providers, and Traders
Factors Affecting Yes Bank Business Loan Eligibility
When applying for a Yes Bank business loan, applicants should keep in mind that banks and NBFCs may reject applications if certain conditions are not met. The main factors affecting eligibility include: Must read Bank of Baroda Personal Loan.
The applicant must be at least 25 years of age at the time of loan approval and not more than 65 years at loan maturity.
Your business must have been profitable for at least the last 2 years, with a minimum annual turnover of ₹1 crore.
Applicants must provide 24 months of Income Tax Returns (ITR) and 6 months of bank statements as part of the loan application process.
Yes Bank offers business loans ranging from ₹5 lakh to ₹50 lakh.
The business must have a minimum operational history of 36 months, with stable or growing sales over the last three years. A decline in sales or significant underperformance may affect your loan eligibility.
A CIBIL score of 750 or above is preferred by Yes Bank. The bank will also review your credit history, including repayment of previous loans and credit card bills.
Also, check the Bank of India.
YES Bank Business Loan Interest Rates
- Range of Rack Interest Rate – 17% onwards
- Processing Fee – 2% – 2.5% of Loan Amount
- Loan Amount – Up to ₹50 lakh
- Tenure of Repayment – 12 to 60 months
- Pre-payment Charges – No charges till 6 months
Factors Affecting Interest Rates
Every borrower hopes to get a big company loan at an affordable interest rate. Nevertheless, a bank or other financial organization considers several criteria before providing an interest rate to an individual. Among these criteria are:
- CIBIL rating of the enterprise/organization
- Business structure: sole proprietorship, public limited company, partnership, or private limited
- Turnover of the business
- Cash flow of the business
- Repayment history of the business
Documents Required For Yes Bank Business Loan
- Business PAN card
- Filled application with passport-size photograph
- Six months’s bank statement
- Business authorization, license, or permission, if any
- Proof of business incorporation
- KYC of co-applicant and applicant
- Two years of audited financial statements and attachments
Yes Bank Business Loan Customer Care Number
People who have any queries regarding the conditions required for a business loan from Yes Bank can contact customer care by calling 1800 1200 (toll-free) or +91 ********.
