Yes Bank Home Loan Balance Transfer 

One of the leading banks in the private banking sector, Yes Bank offers customers a range of wealth and finance products and services. From corporate banking, personal banking to internet banking, Yes Bank caters to various target groups. These services include accounts, retail loans, corporate loans, credit card facilities, and existing loan balance transfers.

Tip: Check free cibil score before applying for a loan

Yes Bank Home Loan Balance Transfer Details

If you are currently finding your EMI towards your home loan unaffordable, one of the best options is to look for a bank with lower interest rates to transfer your outstanding balance. The Yes Bank is a popular bank for a home loan takeover or transfer because of its low-interest rates and easy processing methods. 

To give you an insight into the offerings of Yes Bank home loan products, here are some details: 

Interest Rate8.95% - 11.80% based on the eligibility criteria fulfilled by the customer 
Processing fees 2% of the outstanding loan amount or Rs.10000, whichever amount is higher
Repayment tenure Up to 35 years based on the age of the applicant
Quantum of finance Up to 90% of the value of the property 

Benefits and Features of Yes Bank Home Loan Balance Transfer

When you transfer your existing loan to Yes Bank, you also enjoy the various features and benefits of their home loan products and offerings. Here is a list of benefits that you can expect by transferring your outstanding home loan balance to Yes Bank: 

  • Attractive interest rates: Most customers opt for a home loan balance transfer to reduce the burden of repaying their EMI per month. With Yes Bank, interest rates are as low as 8.95% per annum, making it easier for you to plan your repayments without any added stress each month. 
  • No transfer limit: The Loan to Value ratio offered by Yes Bank is very high in comparison to most banks and NBFCs. You can get up to 90% of the market value of the property as your loan. This ensures that you can transfer the entire outstanding home loan from any bank to Yes Bank without hassles. 
  • Top up facilities: Being financially prepared for any emergency is extremely important. One of the main benefits of choosing YES Bank to take over your home loan is that they offer home loan top-up facilities. This means that you can get an additional loan over and above your current home loan. This top-uptop-up can be used for any financial emergency like medical, wedding, travel, or higher education.  
  • No prepayment penalty: If you wish to make larger repayments towards your home loan or want to foreclose it without any penalty, transferring your home loan to Yes Bank is a great idea. They do not charge any prepayment or foreclosure penalty for customers with a floating interest rate on their loan. However, if you have opted for a fixed interest rate, a 4% prepayment penalty on the outstanding amount is levied. 
  • Affordable processing fees: The processing fees charged on your home loan balance transfer is a very important factor to consider. The idea of transferring your loan is to save on the EMI payable each month. However, with exuberant processing fees, your budget can increase. However, with YES Bank, you have to pay a processing fee of just 2% of the outstanding loan amount or Rs.1000, whichever is higher. If the loan is not disbursed or cancelled, you also get a refund of any amount above Rs.7500 paid towards the processing fee. 
  • Long repayment tenure: With a repayment tenure of 35 years, you can considerably reduce the EMI payable towards your loan. The Yes Bank allows you to extend your repayment tenure to make the loan more affordable. However, choosing the shortest repayment tenure possible gives you additional savings on the interest payable towards the loan.  
  • Top-notch services: Yes Bank is known for its seamless customer service. You can even get doorstep documentation services with these loans to make it easier for you to apply for a home loan transfer. As for the application process itself, you have various online and offline options to submit your request.  

Additional Reading: Check cibil score by pan card

Yes Bank Home Loan Balance Transfer Interest Rate and Other Charges

Customers should always be aware of the charges and fees applicable towards any loan that they opt for. This makes it easier to budget your loan and plan your finances accurately. Here is a list of the home loan balance transfer interest rate and charges: 

Interest Rate

The current interest rate offered by Yes Bank is between 8.95% and 11.80%. The interest rate that you are eligible for depends on a range of factors like your age, income, nature of employment, credit score, loan to value property and location of the property in question. 

You can bring down your home loan's interest rate by choosing a co-applicant for your loan or by showing multiple income channels each month. The higher your repayment capacity and financial health, the lower the interest rate charged towards the home loan products that you choose. 

When you go in for a home loan balance transfer, please note that you will not be eligible for any subsidies offered as part of government schemes like the PMAY loan. 

Other charges 

Processing Fees 2% of the outstanding loan amount or Rs.1000, whichever amount is higher. Additional taxes apply. 
Part-payment/ Foreclosure of loansNil for customers with a floating interest rate. 4% of the outstanding amount for customers with a fixed interest rate. 
Late payment fees 24% per year or 2% per month on the instalments that are overdue. 
Cheque swap charges Rs.500
Statement of account chargesRs.100 each time 
Legal, incidental and repossession charges At Actuals 
Switch charges for interest rate 

From fixed to floating: 0.5% of the outstanding loan amount 

From floating to fixed: 1% of the outstanding loan amount. 

This facility is subject to availability at the time of the request. 

Yes Bank Home Loan Balance Transfer Eligibility Criteria

In order to get a home loan from Yes Bank, you must fulfil certain eligibility criteria as mentioned below: 

  • The customer's age must be between 23 and 60 years. 
  • For salaried individuals, the income should be at least Rs.25000 per month. 
  • For self-employed individuals, the income should be at least Four lakhs per annum. 
  • For salaried and self-employed individuals, a minimum work experience of 2 years in their field of work is mandatory. 
  • You should have a NOC from the bank that you currently have your home loan account with for a balance transfer.

Before you apply for a home loan transfer, it is highly advised that you check your eligibility. You can make use of online eligibility calculators that are easy to use financial tools. This ensures that your loan application is not rejected, affecting your overall credit score. You can even check your monthly EMI payable using these online tools to make sure that the balance transfer is, in fact, affordable for you.  

Also Check: CIBIL Defaulters List

Yes Bank Home Loan Balance Transfer Documents Required

The customer's eligibility is assessed using the documents submitted at the time of the loan application. The documents required for Yes Bank home loan take over are: 

Duly filled application with a recent photograph MandatoryMandatory
Adhaar CardMandatory Mandatory 
KYC Documents Address proof, signature proof and ID proof Address proof of home and office, ID proof and signature proof 
PAN Card Mandatory Mandatory 
Proof of Income Last 2 years salary slip + IT returns or Form 16Last 2 years IT returns with details of income, balance sheet and profit and loss statement, the tax audit report if it is applicable, and the roof of the turnover with latest tax returns or sales reports. 
Qualification proof Not required Applicable for self-employed professionals.
Bank statement Last 6 months statement of the account to which the salary is credited Last 6 months statement of the operative personal and current account. 

The documents required to complete the loan application process varies from one customer to the other. If needed, YES Bank may request additional documents that you must submit to get your loan approved and disbursed.

Process of Yes Bank Home Loan Balance Transfer

There are two options to apply for your YES Bank home loan balance transfer. You can apply for the loan online or in person. 

  • You can fill up a form online on www.yesbank.in, providing details of your financial requirements. You will receive an instant call bank from officials at Yes Bank with details about the actual approval process. 
  • To get details about your loan and initiate your application process, you can also send the SMS YES HL to 9223390909. Additionally, call up the customer service desk at 1800-419-1717. 
  • You can also submit a loan application at any Yes Bank branch near you. 

Before applying for the home loan balance transfer, you will also have to submit a request letter to your current bank. Once you get a NOC from your bank, you can complete your documentation and start the process. 

Also Check: CIBIL full form

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Home Loan Balance Transfer starts at 8.50% p.a for all profiles

Apply for Home Loan Balance Transfer online instantly and get lower interest rate starting at 8.50% p.a. Get better terms and services. You can also avail instant top up loan facility during balance transfer.

FAQs on Yes Bank Home Loan Balance Transfer

✅ How to apply for the Yes Bank home loan balance transfer?


You can submit an application for the home loan online on the official Yes Bank website. You can also call up the bank's customer service desk on 1800-419-1717. Lastly, customers can submit an application, in person, at any YES bank branch. 

✅ What is a balance transfer Yes Bank Bank?


Balance transfer or home loan take over is the process of transferring the current outstanding home loan balance from one bank to another. The Yes Bank offers this facility to customers along with a host of benefits like lower rates of interest, higher repayment tenure, top-up facilities on the home loan and more.

✅ How can I get an outstanding balance from Yes Bank home loan?


To check your outstanding balance on the Yes Bank home loan, you can log in to your customer portal to access net banking and mobile banking services. This gives you access to a detailed loan account statement. 

✅ What are the benefits of taking a Yes Bank home loan balance transfer?


Transferring your home loan balance to Yes Bank offers the following benefits: 

  • Low rate of interest 
  • Easy repayment options 
  • Longer repayment tenure 
  • Home loan top-up facility 
  • Seamless customer service 

✅ How can I check on the status of my Yes Bank home loan balance transfer?


To check your home loan balance transfer status, you can log in to your customer portal on the website or mobile banking app. You can even get in touch with the Yes Bank customer service desk or visit the nearest Yes Bank branch.