Yes Bank

Yes Bank Business Loan

Years

Apply Yes Bank Business Loan @ 16%
imozi

Interest Rate

16%-%

imozi

Processing fee

Upto 2%

imozi

Loan Tenure upto

5 years

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EMI per Lakh

2,432

About Yes Bank Business Loan

Yes Bank is the fastest growing bank in the Indian banking sector. Incorporated in November 2003, Yes Bank opened its first branch in Mumbai in August 2004. Since then, it has opened more than 1,100 offices and has more than 1,700 ATMs all over the country. Today, Yes Bank has the distinction of being the fourth largest private sector bank in India. It has a presence in every state and union territory in the country including the North East, Andaman and Nicobar Islands, and Lakshadweep.

Yes Bank offers a bouquet of loan services catering to all sectors such as retail, corporate, agriculture, and SME. Yes Bank boasts of a highly competent workforce that is committed to providing customer-centric services to corporate, MSME, and retail customers. In 2017, the Business India KPMG Survey adjudged Yes Bank as the Fastest Growing Mid-Sized Bank in India. Yes Bank believes that the development of the industrial sector in India is the need of the hour. Hence, they have an array of Business Loan products to suit almost every business in India.

Why Choose Yes Bank Business Loan?

Here are some of the most important reasons to fund your business need with Yes Bank Business Loans:

  • Yes Bank offers collateral-free Business Loans up to 50 Lakhs to small and micro-enterprises, self-employed individuals/professionals, sole proprietorship concerns, partnership firms, and private limited companies.
  • These loans are available for all business-related purposes such as working capital financial requirements, business expansion, acquiring fixed assets, and meeting other business exigencies.
  • Yes Bank has a simple documentation and loan processing structure.
  • Business entities get flexible repayment tenures depending on their turnover and income generating capacity.
  • Apart from these collateral-free loans, Yes Bank offers Loan Against Property for business purposes for amounts higher than 50 Lakhs.
  • Business Loans are also available for purchasing construction equipment, commercial vehicles, and meeting export/import requirements.

Yes Bank Business Loan Features and Benefits

  • Adequate and timely financing for the business sector
  • Variety of loans for the SME sector
  • Collateral-free loans up to 50 lakhs
  • Flexible repayment tenures ranging between 12 and 60 months
  • High level of transparency in the loan approval process
  • Transparent pricing
  • Attractive interest charges
  • Channel financing
  • Export and Import financing services
  • Loans against property for business purposes

Yes Bank Business Loan Interest Rates

With effect from 01 April 2016, Reserve Bank of India mandates all banks to link their lending rates to its MCLR. The MCLR of Yes Bank w.e.f. 01 June 2019 is as follows.

Tenor MCLR

Overnight

8.10%

One Month

8.90%

Three Months

9.25%

Six Months

9.45%

One Year

9.70%

The Yes Bank interest rate for Business Loans depends on the credit rating and other factors such as financial stability, nature of the facility, and other vital aspects. The interest rate ranges from 13.25% to 19.99% for fixed-rate loans. The floating rate of interest is linked to the MCLR-six month rate.

The rate of interest on loans to micro-enterprises is in the range of MCLR-12M to MCLR-12M +2%. As on date, the rate works out to 9.70% to 17.90%

Types of Yes Bank Business Loans and Their Eligibility Criteria

Yes Bank offers the following different types of Business Loans for SME units and the corporate sector. Apart from the unsecured retail Business Loans, Yes Bank offers the following products:

Yes GST

Term Lending

Loans against property for Business Purposes

Yes Samriddhi

Structured Finance

Loans for purchase of commercial vehicles

Yes Suyog

Channel Finance

Construction Equipment Loan

Smart Overdraft

Small Agricultural Enterprises Loan

Healthcare and Printing Equipment Loan

Cash-backed Lending Programme

Commodity Finance against Agricultural Commodities

Foreign Currency Loans

Working Capital Finance

Krishak Sahyogi

Corporate Finance

Unsecured Retail Business Loan

Target Group

Self-employed individuals and professionals, sole proprietorship concerns, partnership firms, private limited companies, limited liability partnerships, and closely held companies.

Purpose

Meet working capital and business requirements such as business expansion, purchase of office equipment or machinery.

Maximum Amount

50 Lakhs

Limit Type

Term loans

Key Attractions

  • Collateral free retail Business Loans
  • Flexible repayment tenure between 12 and 60 months
  • Attractive rates of interest
  • High level of transparency
  • One minute in-principle loan approval

Yes GST

Target Group

MSME enterprises who file their GST returns

Purpose

Meet working capital and business requirements

Maximum Amount

1 Crore based on turnover as per their GSTR 1 returns

Limit Type

Fund-based overdraft or Drop-Line Overdraft

Key Attractions

  • Submission of financial statements and bank account statements not mandatory for assessment of the loan
  • No charge on current assets such as stock and book debts
  • Loan processing is faster because of minimum documentation formalities
  • Simplified documentation procedure makes disbursement simple

Yes Samriddhi

Target Group

MSME Businesses engaged in trading, manufacturing, and services sector

Purpose

Meet all kinds of business requirements

Maximum Amount

  • Maximum loan amount is 4 Crores
  • Non-DP (Drawing Power) linked OD up to 2 Crores

Limit Type

  • Fund-based facilities like Cash Credit, Overdraft, Working Capital Demand Loan, Drop Line OD, Term Loan and Export Credit
  • Non-Fund-based facilities like Letter of Credit, Bank Guarantees, and Buyer's Credit
  • Trade-related facilities like Forward Cover and Cash Management System (CMS) limits

Key Attractions

  • Loan depends on the business turnover of the enterprise
  • Flexible Collateral requirement depending on credit scores
  • Quick sanctions and disbursals
  • Loans available against Residential, Commercial, Industrial and NA plots

Yes Suyog

Target Group

SME units engaged in manufacturing, trading and service sector

Purpose

Meet all kinds of business requirements

Maximum Amount

Maximum loan is 2 Crores

Limit Type

Fund-based, non-fund based, and trade-related facilities

Key Attractions

  • Flexible collateral requirements based on credit scores
  • Preferential pricing available depending on credit rating
  • Scorecard based appraisal
  • Residential Property, commercial or industrial property accepted as collateral
  • Non-agricultural plot also accepted
  • Standby Letter of Credit, Bank Guarantee, Fixed Deposits, and Surrender value of LIC policy accepted as collateral

Smart Overdraft

Target Group

  • MSMEs engaged in manufacturing and trading activities
  • Professionals like Chartered Accountants, doctors, engineers, and architects

Purpose

Working capital requirements

Maximum Amount

  • Minimum limit is 20 Lakhs
  • Maximum amount of OD is 1 Crore

Limit Type

Overdraft account and Drop Line overdraft

Key Attractions

  • Financial statements of borrowers not necessary
  • Credit assessment based on banking transactions of the customers
  • Loan against residential, commercial property or NA plot
  • Other securities like SLBC, BG, FD, and Surrender value of LIC policy is acceptable

Cash-backed Lending Programme

Target Group

Traders, manufacturers, and service providers

Purpose

Meet all non-fund based business requirements

Maximum Amount

  • Domestic requirements: 100% margin for LC/BG and SBLC
  • International requirement: 105% margin without hedging for USD, Euro, and GBP and 110% for other currencies
  • If hedging is available: 100% of LC, BG, SBLC, LUT value

Limit Type

Non-fund based limit

Key Attractions

  • Minimum documentation and quick processing
  • An ideal solution for SME units for non-fund based requirements
  • Non-fund based LC, Buyer's credit, and BG
  • LC for 180 days
  • BG up to 36 months
  • Letter of Undertaking up to one year for arranging BG for non-capital goods and 3 years for arranging BG for capital goods

Working Capital Finance

Target Group

All kinds of businesses including MSMEs and corporate entities

Purpose

Bridge cash flow mismatch and maximise business potential

Maximum Amount

Depends on a case to case basis

Limit Type

Cash Credit, Working Capital Demand Loan, Bill Financing, and non-fund based facilities

Key Attractions

  • Get the benefit of expert advice from Yes Bank Relationship Managers
  • Competitive interest rates
  • Quick processing
  • A comprehensive range of financing solutions
  • Variety of digital solutions to cater to your business needs

Term Lending

Target Group

Corporate entities

Purpose

  • Capacity expansion, plant modernisation, and purchase of commercial assets
  • Set up a new industry

Maximum Amount

Depends on the requirement and eligibility

Limit Type

Term Loan

Key Attractions

  • Flexible repayment tenure customisable based on future cash flows
  • Debt solutions from both local and international markets

Structured Finance

Target Group

Corporate entities

Purpose

A structured financial solution to meet the complex requirements of the corporate sector

Maximum Amount

Depends on a case to case basis

Limit Type

  • Structured financing solution includes
  • Acquisition financing
  • Lease Rental Discounting
  • Securitisation
  • Off-Balance Sheet Structured Solutions
  • Quasi-Debt Structures

Key Attractions

Debt solutions available from local and foreign markets

Channel Finance

Target Group

Every dealer within a supply chain, both forward and backward chains

Purpose

  • Additional liquidity to dealers for procuring goods from corporate entities
  • Working capital requirement of dealers

Maximum Amount

Depends on a case to case basis

Limit Type

Revolving credit in the form of overdraft

Key Attractions

  • Flexible withdrawal allowed for amounts as low as 1
  • Ease of operation and enhanced efficiency in transactions
  • No need for collateral
  • Attractive financing charges
  • No change in the existing system

Small Agricultural Enterprises Loan

Target Group

  • Individuals involved in farming and agriculture
  • Business units engaged in trading and manufacturing agricultural produce
  • Commission agents

Purpose

Working capital and business needs of the agrarian sector

Maximum Amount

  • Minimum loan amount: 20 Lakhs
  • Maximum loan amount: 5 Crores

Limit Type

Term loan and Working capital peak and non-peak finance facility

Key Attractions

  • Long tenure of 10 years for plantation or horticulture crops
  • Quarterly submission of stock statements

Krishak Sahyogi

Target Group

Arthias commission agents dealing with agricultural commodities, agricultural input dealers, sellers of pesticides, fertilisers, seeds, poultry and cattle feed, and agricultural equipment.

Purpose

Working capital and other business requirements

Maximum Amount

Minimum loan is 20 Lakhs with a maximum of 5 Crores

Limit Type

A working capital limit in the form of cash credit or overdraft

Key Attractions

  • Local level sanctioning
  • Collateral in the form of FD, NSC, IVP, RBI relief bonds, Surrender value of LIC policy
  • Charge on stock and book debts
  • Residential or commercial property acceptable as collateral
  • Non-fund based BG facility available

Commodity Finance against Agricultural Commodities

Target Group

Farmers, Agricultural intermediaries, and processors who are owners of agricultural commodities.

Purpose

Purchase of commercial vehicles

Maximum Amount

  • Maximum loan for farmers: 50 Lakhs
  • Creditworthiness and financial stability will decide loan eligibility for other categories of borrowers.
  • Maximum loan is 2 Crores

Limit Type

Working capital finance

Key Attractions

  • Quick sanctions within one day for loans up to 2 Crores
  • Longer tenure up to 11 months depending on commodity shelf life

Loans Against Property for Business Purposes

Target Group

Salaried and Self-employed individuals

Salaried Individuals

  • Minimum income of 3 Lakhs per annum and total experience of 3 years
  • Minimum age is 23 years, whereas the maximum is 65 at maturity or age of retirement whichever is earlier

Self-employed Individuals

  • Minimum income: Cash Profit of 4 Lakhs per annum
  • Minimum turnover:
    • 15 Lakhs p.a. for commission income and service providers
    • 10 Lakhs per annum for doctors
    • 60 Lakhs for non-service providers
  • Minimum of 3 years in the business/ profession
  • Minimum age at the application of loan - 18 and maximum 70 years
  • Age at maturity of the loan: Maximum of 85 years

Purpose

Personal or business requirements

Maximum Amount

Depending on eligibility and value of property

Limit Type

Term Loan and Overdraft facility

Key Attractions

  • Higher loan amounts depending on repaying capacity and value of property
  • Tailor-made solution for business needs
  • Loans available for the purchase of commercial property
  • Lease Rental Discounting facility available
  • Residential and commercial property accepted as collateral
  • Balance transfer facilities with additional top-up
  • Doorstep service

Loans for Purchase of Commercial Vehicles

Target Group

Transport operators, freight booking companies, distributors/ traders, commission agents, educational institutions.

Purpose

  • Purchase commercial vehicle including old vehicles
  • Vehicles include buses, tippers, LCV and SCVs

Maximum Amount

Up to 100% on chassis value and 90% on fully-built vehicles

Limit Type

Term loan, Overdraft, Drop Line overdraft, Top-up and retention refinance

Key Attractions

  • Flexible range of offerings
  • First-time users can benefit from this product under Green Channel for LMV license holders
  • Repayment tenures up to 60 months
  • Body funding options also available

Construction Equipment Loan

Target Group

  • Individuals, Partnership firms, and companies with more than two years experience
  • Contractors, hirers, mine owners, and captive customers

Purpose

Purchase of Construction equipment and material handling requirement

Maximum Amount

90% of the price of the equipment

Limit Type

Term Loan

Key Attractions

  • Flexible financing situations to meet individual needs
  • Preferred financier status with Indian and global manufacturers
  • Simple documentation
  • Flexible repayment up to 60 months
  • Excellent reach, present in 32 locations
  • Get the advantage of expert advice from relationship managers

Healthcare and Printing Equipment Loan

Target Group

Doctors, hospitals, nursing homes, diagnostic centres, societies, trusts, and limited companies.

Purpose

Purchase healthcare equipment

Maximum Amount

  • Up to 15 Crores for healthcare equipment
  • Minimum loan 10 Lakhs
  • Maximum 8 Crores for printing equipment

Limit Type

Term loans for purchasing new or refurbished medical and new printing equipment

Import LC for importing high-quality healthcare equipment.

Key Attractions

  • Long repayment tenure up to 84 months
  • Tailor-made solutions
  • Quick turnaround time
  • Advantage of expertise of specialised relationship managers
  • No collateral
  • Loans available up to 85% of asset value
  • Exclusive product for loans up to 50 lakhs

Foreign Currency Loans

Target Group

Corporate sector

Purpose

Working capital, Project Finance, and Trade finance requirements

Maximum Amount

No maximum limit - depends on a case to case basis

Limit Type

Foreign Currency Term Loan

Key Attractions

  • Foreign currency credit to overseas entities
  • External Commercial Borrowings (ECB)
  • Acquisition Financing
  • Buyer's or Supplier's Credit
  • Other structured financing solutions

Corporate Finance

Target Group

Corporate sector, especially the industries dealing with infrastructure sector like roads, ports, oil and gas, power and renewable energy, manufacturing, telecom, natural resources, and urban infrastructure

Purpose

Customised structuring approach and advisory services

Maximum Amount

No limit

Limit Type

Infrastructure lending, project financing, advisory services, syndication, structured debt financing, business restructuring

Key Attractions

Diversified product offerings

Documents Required Yes Bank Business Loan

The documents needed for Yes Bank Business Loans depends on the loan product. However, all loans require submission of KYC documents.

  • ID proof of individuals, partners, directors of the company
  • Address proof documents for all individual entities connected to the loan facility
  • Proof of existence or commencement of business
  • Address proof of the business entity

Apart from the KYC documents, the applicants have to submit income documents such as GST returns, financial statements, bank account statements, and CA certificates as required for the respective facility.

Loan products that involve the purchase of assets like commercial vehicles, construction equipment, healthcare equipment, and other machinery require the production of the respective invoices.

Why Apply for Yes Bank Business Loan on MyMoneyMantra?

Yes Bank has a plethora of Business Loan products. It can be a challenge to select the most appropriate loan product for the individual business. MyMoneyMantra can help you in this regard.

Our team of Business Loan experts are ready to clarify all your doubts about the loan products offered by Yes Bank. We also enable a good comparison between all kinds of Business Loans offered by different financial institutions.

Our website portal has unique financial tools like EMI Calculator, Prepayment Amount Calculator, and Balance Transfer Calculator to help you decide on the amount of loan you need. We also help you with the compilation of documents and arranging them for submission to Yes Bank.

The highlighting feature of our services is that it is available free of cost.

How to Apply for Yes Bank Business Loan on MyMoneyMantra?

Applying for a Yes Bank Business Loan on MyMoneyMantra is a simple affair:

  • Access our official website and select the option of Business Loan
  • Fill up the data it seeks from you, such as name, phone number, city of residence, amount of Business Loan, and email id.
  • We will send an OTP to the registered mobile number that you have to enter at the appropriate location to gain access to the loan comparison page.
  • This page allows applicants to compare different Business Loan offers from different banks. It gives you an idea about the options available to you in the market.
  • Our financial experts will contact you over the phone and assist you in compiling and submitting the necessary documents.

Other Products by Yes Bank

Yes Bank offers an array of Business Loan facilities. Besides, Yes Bank caters to the retail segment by providing Home Loans, Personal Loans, and other facilities.

Below are the other products offered by Yes Bank:

Business Cards

YES FIRST

YES GST

Current Account

Savings Accounts

Deposits

Debit Cards

Credit Cards

Prepaid Cards

Digital Banking

Insurance

Safety Deposit Lockers

Government Schemes

Green Future:Deposit

NRI Banking

Yes Premia Credit Card

Institutional Banking

YES Private

YES Transact

POS Solutions

Debt Capital Markets

Investment Banking Solutions

YES FIRST Corporate Credit Card

YES Prosperity Purchase Credit Card

Corporate Loans

Transactions Banking Solutions

Surplus and Investments

Car Loan

Personal Loan

Two-wheeler Loan

Loan Against Securities

Loan Against Property

Home Loan

Gold Loan

YES Khushi Affordable Home Loan

NRI Remittances

How to Calculate Yes Bank Business Loan EMI?

The Yes Bank website has an EMI Calculator. You can use this calculator to determine your Business Loan EMI. Provide details like loan amount, rate of interest applicable on loan, and the repayment tenure to get your EMI.

Alternatively, you can also use MyMoneyMantra Business Loan EMI Calculator. MyMoneyMantra has a similar facility on its website that users can refer to for calculating the Business Loan EMI. It works on a similar principle. Besides, this calculator provides the repayment schedule along with a loan amortisation statement.

Yes Bank Business Loan - Processing Fee and Other Charges

Nature of Fee Charges Applicable

Processing charges

Up to 2.50% of the loan amount with a minimum of 999

Prepayment charges

  • Prepayment of loan is not allowed until repayment of 6 EMIs
  • No part payment is allowed during the entire tenure of the loan
  • Over 6 months and up to 2 years: 4% of principal outstanding
  • More than 2 years and up to 3 years: 3% of principal outstanding
  • Greater than 3 years and up to 4 years: 2% of principal outstanding
  • More than 4 years: Nil

Loan closure letter

Nil

Duplicate loan closure letter

750 per statement

Duplicate no dues certificate or NOC

250 per statement

Solvency certificate

Not applicable

Late payment charges

2% per month on the EMI amount/Principal amount overdue

Credit assessment charges

Not Applicable

Cheque swapping charges

750 per occasion

Cheque Bounce charges

750 per event plus taxes

Duplicate repayment schedule charges

750 per schedule

Loan cancellation or rebooking charges

1,000

Interest at the applicable rate for the period between the date of disbursement and date of loan cancellation

Processing fees not refundable

Legal or incidental charges

As per actual

Stamp Duty charges

As per actual

The listed charges are for Business Loans. Most of the costs are similar for all the loan products, but there can be a slight variation in some individual products.

Yes Bank Business Loan Customer Care

You can contact Yes Bank for any loan-related query at:

  • Email: yestouch@yesbank.in
  • SMS: SMS 'HELP' space to 9552220020
  • Phone: From India - 1800-1200 (Toll-Free) or 022-61219000
  • Corporate Headquarters:

YES Bank Tower, IFC - 2, 15th Floor,

Senapati Bapat Marg,

Elphinstone Road West,

Mumbai - 400013

Yes Bank Business Loan - FAQs

Does Yes Bank offer Fastag facility?

Yes Bank offers Fastag facility, whereby users do not have to pay any fee at the toll plazas. The Fastag is an RFID device that enables toll payments to be debited from a prepaid account. It is usually affixed on the windscreen of your car. The toll plazas have a scanning device to scan the card. It ensures the payment of the toll from your prepaid account. One has to recharge this account regularly.

How does one qualify for channel finance from Yes Bank?

Most of the established brands have tie-ups with Yes Bank. The eligibility parameters for channel finance can vary from one brand to another. Eligible borrowers can apply for channel finance facilities depending on the turnover and order position with the respective brand. This facility does not require stipulation of any collateral.

What type of facility is channel financing?

Channel financing is a revolving credit facility where the repayment depends on the business cycle. Thus, if your business cycle is 60 days, the borrowed amount becomes due for payment on the 60th day.

How can I make the EMI payment to Yes Bank?

EMI payment of your loans is possible in various ways. The PDC or the ECS debit is the most popular form of repayment. You have facilities to make online payments. Setting up Standing Instructions to debit your current account is also an effective method of paying your EMIs.

Are there any processing fees for the cash-backed lending programmes?

No, there are no processing fees for this facility, as it is entirely secured by liquid assets such as FDs.

Is there any minimum business vintage to maintain for a YES Sambhav Business Loan?

Yes Sambhav or the Smart Overdraft Facility stipulates that the promoter or principal applicant should be in the same line of business in the same city for a minimum of four years.

Can existing Yes Bank customers avail finance under Yes Suyog facility?

No, the Yes Suyog facility is available only to new Yes Bank customers. Existing customers can avail other similar facilities like Yes Samriddhi.

Do I benefit by prepaying my Business Loan with Yes Bank?

In a way, it is beneficial, as you save on the interest component. However, it also depends on how you prepay your Business Loan. If it is through a loan takeover, one has to consider other factors like rate of interest charged by the new entity. If it is from self-funds, prepaying the Business Loan is beneficial.

Is it compulsory to have a current account with Yes Bank for availing Business Loans from Yes Bank?

No, it is not compulsory to maintain a current account with Yes Bank. However, it is beneficial, as you can set up standing instructions for debiting the instalments. You can also enjoy the various benefits that are available to Yes Bank Current Account holders.

How do I contact MyMoneyMantra for any query regarding Yes Bank Business Loan?

  • Access our website and apply for the Business Loan through it
  • Our customer service executives can help you with the loan application process. They are available at 1800-104-4404.
  • An email to contactus@mymoneymantra.com will also suffice for our customer service personnel to be in touch and help you with your loan applications.

Latest News and Snippets - Yes Bank

Yes Pay is an excellent mobile application payment platform

'Yes Pay' is a one-stop mobile application that helps to manage different payment modes such as wallet, credit card, virtual cards, and UPI, thereby facilitating seamless payments. It is a pre-paid wallet powered by RuPay that can be used across e-commerce sites and apps. Loading, sending, and receiving money using the app is possible. It is also easy to pay your bills or recharge mobile phones and DTH subscriptions using this app. The best aspect is that it is not compulsory for anyone to be a Yes Bank customer to register for this app and use it.

Yes Bank is the first bank to offer savings bank interest at 6% per annum

With the freeing of the interest regime, Yes Bank became the first bank in India to offer 6% to its saving bank customers, subject to fulfilment of specific conditions. Even today, it provides up to 6% on savings accounts for balances over 1 Lakh and up to 1 Crore.

Yes Bank has won three awards at the Asian Banker's Choice and Asian Banker Transaction Awards 2019.

Yes Bank has gained the distinction for being the 'Best Trade Finance Bank in India' for the fifth year in a row. Besides, it has also won the award for being the 'Best Financial Supply Chain Management in India and the Best Corporate Trade Finance Deal.' These awards were presented to Yes Bank in Thailand recently.

Yes Bank works towards becoming the Finest Quality Large Bank in India by 2020

Yes Bank is already the fourth largest of all private sector banks in India. It has won various awards at the national and international front for its multiple services, including Corporate Invest Banking, Transaction banking, treasury activities, and sustainable practices through Responsible Banking. It is working hard to become the premier private sector bank in India by 2020, especially in terms of quality of products and services.

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