Yes Bank Business Loan and Loans in seconds

Disclaimer….before you read ahead!

The information contained herein is of a general nature and for information purposes only, with the intent of raising awareness around various resources, schemes etc. available for women entrepreneurs in India. It is not intended to address the circumstances of any individual or entity. It does not purport to be all-inclusive or necessarily contain all the information that may be relevant for the reader, and may be subject to updation, revision or amendment. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to remain accurate in the future. The reader, therefore, is required to exercise their discretion; and not act on such information without appropriate professional advice after a thorough examination of the particular situation.

Furthermore, we are not a lender and are not authorized by the Reserve Bank of India to act as one. By disseminating the information contained herein, we are not soliciting any borrower or customers for the company or organization mentioned herein nor do we intend to syndicate any capital for the reader of this article.

About this scheme…

Business Loan & Loan in Seconds is an unsecured & collateral free loan offering by Yes Bank to help meet business requirements of its self-employed Professional & Non-Professional customers.

How is it being implemented?

Under this Scheme, financial assistance in the form of loans is given exclusively to,

Self-employed Professionals (Doctor, CA, CS & Architects)
Self-employed Non-Professionals (Trader, Manufacturer, Service Provider)

Who could be either an existing current account holder of Yes Bank (Existing Customer) or a new one. Additionally, Existing Customer can avail the benefit of Online & Instant loan disbursal (which is why this Scheme is also called Loan in Seconds!).

What is on offer?

I. Product

Term loan
Ticket Size: up to ₹75 Lakhs

II. Purpose:

Acquisition of or investment in fixed assets
Working capital requirements

III. Borrower Type:

Self Employed Professional, Sole Proprietorship, Partnership, Limited Liability Partnership (LLP), Private Limited Company, Closely Held Company

IV. Security or Collateral or Guarantee or Insurance

Security: Charge on assets created out of Bank’s finance under this Scheme
Collateral: Nil
Guarantee: Nil
Insurance: For more information around this, please contact Yes Bank via means mentioned below

V. Interest Rate

17.25% per annum onwards

VI. Processing Fee

Up to 2.75% of loan amount
Additionally, Stamp Duty & other Statutory Charges:
- Existing Customer – Nil
- New Customer – At actuals as per state laws applicable from time to time

VII. Margin Money Requirement

For more information around this, please contact Yes Bank via means mentioned below

VIII. Tenure, Repayments & Pre-Closures

Tenure: Flexible & longer repayment options are available. For more information around this, please contact Yes Bank via means mentioned below
Repayments: For more information around this, please contact Yes Bank via means mentioned below
Pre-payment & Foreclosure Charges
- Existing Customer: Please refer here
- New Customer: Please refer here

IX. Turnaround Time

Existing Customer: Online & Instant loan disbursal
New Customer: For more information around this, please contact Yes Bank via means mentioned below

Interested? Read ahead to check your eligibility….

I. Are you likely to be at least 22 years of age at the time of applying for a loan under this Scheme?

II. Has your business been in operation for at least 3 years now?

III. Is the turnover of your business at least ₹30 Lakhs per annum?

If your answers to the questions above are an emphatic YES, you are all set to avail loan under Yes Bank’s Business Loan & Loan in Seconds Scheme!