Yes Bank Business Loan Interest Rate– Yes Bank is one of the largest private sector banks in India. Yes Bank has PAN India presence with branches located all over India. Yes bank is known for fast and easy loan processing for business clients. Yes business Loan is a one stop solution for all of your business financing needs. Let us look at various features of Yes Loan in this article.
Yes Bank Business Loan Interest Rate Details
Yes Bank Business Loan Interest Rate– Any salaried or self-employed individual can apply for the home loan of up to ₹10 crore. Salaried individual should have filed their income tax returns in ITR 1 or 2 as applicable. One must have bank statement of last six months.
Current SBA CDC/504 Interest Rates
Yes Bank Business Loan Interest Rate– Overall, CDC/504 loans carry lower interest rates than the SBA’s 7(a) loans. Below are the current estimates (as of September 2022): Effective rate for 10-year loans: About 5.46% Effective rate for 20-year loans: About 5.39% .
Scorecard based lending – Scorecard based lending is the lending product designed for trading, service and manufacturing sector. In Scorecard based lending, your loan amount is decided on the basis of turnover of your business. Yes Bank is pretty flexible on the the collateral point of view.
Smart Edge – Yes bank offers a business loan product without requirement of any financial document such as profit and loss and balance sheet. In this product, you are required to submit your GST returns and Bank statement for analysis of loan from Yes bank. One can get a loan amount up to Rs 3 Crores under this scheme
Smart Overdraft – is aimed at MSMEs engaged in manufacturing , trading and professionals like Doctors, Chartered Accountants, Engineers and Architects. providing working capital limit up to INR 1.5 Cr without balance sheet. You would not be required to submit a balance sheet and loan amount is based on your banking transaction. You might be asked to submit a collateral in the form of a property to secure your loan. You can get loan up to 1.5 crores under this scheme. However, minimum loan amount offered is Rs 20 Lakhs by Yes Bank.
Yes spark – It is one of the best loan products for startup funding. Under Yes Spark, you can get a loan up to .25 and 5 crores for your startup registered with DPIIT. It has relaxed eligibility criteria compared to other banks such as lower vintage and banking turnover
Supply chain financing – Yes Business loan is also available to vendors of leading manufacturers in india. Under this scheme, receivables of vendors are financed by Yes Bank. Dealer financing is also available to dealers of leading manufacturers in india. Documents required for a Yes Bank Supply chain finance is similar to all other Yes Business Loan.
Yes GST Loan – Post implementation of the GST regime, most of the business above a certain turnover have to move to GST regime mandatorily. Yes GST Loan is simple product offered to GST registered business across india. Yes GST loan is offered with 6 months of GST returns and there is no requirement to submit financials and bank statement with the bank. You can get more information on Yes Business Loan here.
Yes Bank Business Loan Interest Rate Applicants must be between 25-55 years of age. Applicants’ business vintage must be more than 3 years. They should have filed Income Tax Returns for the business for one year at least. Applicants’ credit score should be 750 or above.
Business loan EMIs are calculated using a very easy formula
E = EMI amount. P = Principal amount. r = Rate of interest at which you will be borrowing the loan. n = tenure of the loan over which you will be repaying the loan.
Yes Bank Business Loan Interest Rate If you want to read more about business loans offered by other major banks then you can visit following articles.
Yes Bank Business Loan Interest Rate Lenders usually do not specify the minimum ITR requirement for a business loan. However, the higher the ITR, the better are the chances of approval. As mentioned above, many lenders today also offer business loans to start-ups even without an ITR.
Simplified Small Business Loans (SSBL) to small entrepreneurs engaged in the manufacturing, services and wholesale/retail trade, for purchasing their current assets and fixed assets required for their business expansion. The loan amount can range between Rs. 10 lakh to Rs.