46 XX | Enlightener Series | C. Private Sector Schemes

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 particular 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 updating, 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..

YES Digi OD, an unsecured, collateral free digital loan offering launched in 2023-24 by Yes Bank, is designed to provide seamless financial flexibility to meet working capital needs of businesses, especially unexpected expenses.

How is it being implemented?

Under this Scheme, direct financial assistance in the form of loans is given to,
- Reatil, Manufacturing, or Services Business

What’s on offer?

I. Product

Working capital facility (Overdraft – OD)
Ticket Size: upto ₹25 Lakhs

II. Purpose:

Working capital requirements

III. Borrower Type:

Sole Proprietor

IV. Security or Collateral or Guarantee or Insurance

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

V. Interest Rate

May range from 10.60% and upwards. Refer here under Tab Business Banking/Lending Rates
Interest will only be charged on the utilized amount
For more information around this, please contact Yes Bank via means mentioned below

VI. Processing Fee

Upto 2%
Additionally, the borrower will incur ZERO stamping charges

VII. Margin Money Requirement

Nil as ZERO Balance Overdraft Account is one of the Scheme’s key features

VIII. Tenure, Repayments & Pre-Closures

Tenure: Overdraft facility will be renewed annually
Repayments: For more information around this, please contact Yes Bank via means mentioned below
Non-utilization, Penality & Other Charges: For more information around this, please refer here under Tab Business Banking/MSME/Business Banking Credit Limits

IX. Turnaround Time

OD of ₹15 Lakhs in 15 minutes; OD of ₹25 Lakhs in 25 minutes
For more information around this, please contact Yes Bank via means mentioned below

Interested? Read ahead to check your eligibility….

I. Are you a Sole Proprietor looking for funding to meet their daily expenses?

II. Are you less than 60 years of age?

If your answers to the questions above are an emphatic YES, you are all set to avail YES Digi OD!

So…how big is this scheme and what has been done so far?

I. Details around this don’t seem to be available in the public domain

So, now, how should you go about it?

I. For submitting application:

If you are an existing customer of Yes Bank, apply here

If you are not, apply here

II. For information on documentation requirements, please refer here. Please note that there no requirement of physical documentation but only digial documents

III. For any queries, please contact Yes Bank via