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.

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 Rs 50 Lakhs.
• Business Loans are also available for purchasing construction equipment, commercial vehicles, and meeting export/import requirements.

• Adequate and timely financing for the business sector
• Variety of loans for the SME sector
• Collateral-free loans up to Rs 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

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.

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%

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:

Unsecured Retail Business Loan

Yes GST

Yes Samriddhi

Yes Suyog

Smart Overdraft

Cash-backed Lending Programme

Working Capital Finance

Term Lending

Structured Finance

Channel Finance

Small Agricultural Enterprises Loan

Krishak Sahyogi

Commodity Finance against Agricultural Commodities

Loans Against Property for Business Purposes

Loans for Purchase of Commercial Vehicles

Construction Equipment Loan

Healthcare and Printing Equipment Loan

Foreign Currency Loans

Corporate Finance

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.

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.

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.

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:

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.

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.

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