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 |
|
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 |
|
Yes Samriddhi
Target Group |
MSME Businesses engaged in trading, manufacturing, and services sector |
Purpose |
Meet all kinds of business requirements |
Maximum Amount |
|
Limit Type |
|
Key Attractions |
|
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 |
|
Smart Overdraft
Target Group |
|
Purpose |
Working capital requirements |
Maximum Amount |
|
Limit Type |
Overdraft account and Drop Line overdraft |
Key Attractions |
|
Cash-backed Lending Programme
Target Group |
Traders, manufacturers, and service providers |
Purpose |
Meet all non-fund based business requirements |
Maximum Amount |
|
Limit Type |
Non-fund based limit |
Key Attractions |
|
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 |
|
Term Lending
Target Group |
Corporate entities |
Purpose |
|
Maximum Amount |
Depends on the requirement and eligibility |
Limit Type |
Term Loan |
Key Attractions |
|
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 |
|
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 |
|
Maximum Amount |
Depends on a case to case basis |
Limit Type |
Revolving credit in the form of overdraft |
Key Attractions |
|
Small Agricultural Enterprises Loan
Target Group |
|
Purpose |
Working capital and business needs of the agrarian sector |
Maximum Amount |
|
Limit Type |
Term loan and Working capital peak and non-peak finance facility |
Key Attractions |
|
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 |
|
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 |
|
Limit Type |
Working capital finance |
Key Attractions |
|
Loans Against Property for Business Purposes
Target Group |
Salaried and Self-employed individuals |
Salaried Individuals |
|
Self-employed Individuals |
|
Purpose |
Personal or business requirements |
Maximum Amount |
Depending on eligibility and value of property |
Limit Type |
Term Loan and Overdraft facility |
Key Attractions |
|
Loans for Purchase of Commercial Vehicles
Target Group |
Transport operators, freight booking companies, distributors/ traders, commission agents, educational institutions. |
Purpose |
|
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 |
|
Construction Equipment Loan
Target Group |
|
Purpose |
Purchase of Construction equipment and material handling requirement |
Maximum Amount |
90% of the price of the equipment |
Limit Type |
Term Loan |
Key Attractions |
|
Healthcare and Printing Equipment Loan
Target Group |
Doctors, hospitals, nursing homes, diagnostic centres, societies, trusts, and limited companies. |
Purpose |
Purchase healthcare equipment |
Maximum Amount |
|
Limit Type |
Term loans for purchasing new or refurbished medical and new printing equipment Import LC for importing high-quality healthcare equipment. |
Key Attractions |
|
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 |
|
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 |
|
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 Bank's COVID-19 Moratorium for Term Loans, Cash Credit & OD- All You Need to Know
Following RBI's guidelines, YES Bank has also offered a repayment moratorium for customers of Term Loans, Cash Credit and Overdraft facilities. All these customers are now allowed to defer the payments falling due between March 01, 2020, to May 31, 2020.Read More
RBI Caps Withdrawals from Yes Bank; Supersedes Board
The Reserve Bank of India has imposed a withdrawal capping of 50,000 for depositors of Yes Bank till April 3, 2020. The apex bank later also superseded private lender?s board for 30 days. For your loan EMIs, card repayments & mutual fund redemptions make alternative arrangements to other bank account. Read More
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.