blog vs website / domain meaning in hindi / sensitive meaning in hindi

What is a home loan?

A home loan is an smarttricks of money an individual borrows from any bank or a money lending company at a given rate of interest to be paid blog vs website back with an Equated Monthly Instalment (EMI) every month. YES BANK’s Home domain meaning in hindi Loan help you realize your dreams without having to worry about financial constraints. We offer flexible loan tenures at competitive home loan sensitive meaning in hindi interest rates, which enable you to meet your financial requirements.

The home loan eligibility and home loan amount you can receive varies on several factors including:

• Income and Repayment capacity
• Credit History
• Age
• Number of dependants

Features of Home Loan offered by YES BANK

YES BANK blog vs website offers a variety of home Loan to help suit your financial needs for the purchase of a property. The types of Home Loan offered by YES BANK include:

• Home Purchase Loan:domain meaning in hindi Loan for the purchase of a new home or property
• Self-construction Loan sensitive meaning in hindi : Loan for Purchase of plot and construction thereon or self-construction on an already owned plot
• Home Improvement Loan: smarttricks Loan for renovation and repair of your existing home
• Home Loan Top-up: Loan to help secure additional funding at attractive blog vs website rates along with existing Home Loan on the same property
• Home Loan Transfer: Loan to help balance transfer of home Loan from other  banks and Housing Finance Companies along with Top up

YES BANK offers all the above home Loan with several features and advantages:

• Attractive Interest Rates
• Tailor-made Home Loan programs for Self-Employed individuals to ensure desired loan eligibility
• Balance Transfer Facility doamin meaning in hindi : Hassle free transfer of loan from existing financier to YES Bank at lower rate sensitive meaning in hindi of interest thereby reducing the EMIs.
• Avail top up facility on blog vs website transferring the loan to YES Bank.
• Long Tenures: YES BANK domain meaning in hindi enables customers to avail Home Loan for longer tenures of up to 35 years, to ensure smaller EMIs
• Quick processing time sensitive meaning in hindi to help you obtain a home loan faster and more efficiently
• Nil (Full or Partial) Prepayment charges for floating rate Home Loan
• Doorstep service for your convenience

Pradhan Mantri Aawas Yojana - PMAY

What is the PMAY?

Government of India has launched the mission “Housing for All by 2022” which aims at providing shelter to all by year 2022.

PMAY-CLSS is an initiative to cater to the demand side of the housing need which aims to expand institutional credit flow to meet the housing needs of EWS/LIG/MIG segment (first time home buyers) by way of a subsidy on the Home loan. A borrower can be eligible for a subsidy of upto INR 2.67 lacs under PMAY

Subsidy benefit under PMAY-CLSS can be availed by families buying their first house and with annual income not exceeding INR 18 lacs

Key Features and Norms of Credit Linked Subsidy Scheme under Pradhan Mantri Awas Yojana

Scheme Details	EWS/LIG	MIG I	MIG II
Family1 Income (INR)	Upto 6,00,000	6,00,001-12,00,000	12,00,001-18,00,000
Loan Purpose	Purchase/Self-Construction/Extension	Purchase/Self-Construction	Purchase/Self-Construction
Carpet Area (Max)	Not exceeding 60sqmts2	Not exceeding 160sqmts	Not exceeding 200sqmts
Woman Ownership	Mandatory3	Not Mandatory	Not Mandatory
1st Property	Family should not own any pucca dwelling unit in any part of India
Max Subsidy Benefit (INR)	2.67 Lacs	2.35 Lacs	2.30 Lacs
Scheme Validity	31/03/2022	31/03/2020	31/03/2020

¹Family shall include Husband, wife and unmarried children. Further, as per amendment dated 15.03.2018, an adult earning member (irrespective of marital status) can be treated as a separate household.

² Property area for Extension should not exceed 30sqmts for EWS and 60sqmts for LIG category

³Woman ownership is non mandatory in case of extension OR in case of an unmarried adult earning member independently purchasing his/her first property

• Property blog vs website should be part of urban location (statutory towns) as notified under PMAY
• If the beneficiary family has already availed of benefits provided by any other scheme of PMAY in the past, they won’t be eligible

Note: Assessment of your eligibility to avail the benefits of CLSS is at the sole discretion of the Government of India. Contents herein are parameters outlined under the scheme for assessment of entitlement. For more details on the scheme please refer www.mhupa.gov.in OR www.nhb.org.in

Eligibility Criteria for Home Loan at YES BANK

Home Loan are available at YES BANK for both salaried and self-employed individuals. In addition to this, YES BANK also offers home Loan to Non-Resident Indians (NRIs) as a part of its special Global Indian Banking Program for Non-Resident Indians. You can apply for a Home loan with YES Bank if you meet the basic criteria listed below:

• Age: Must be between 23-60 years
• Income: Salaried: INR 25000 p.m. and Self-Employed INR 4 lacs p.a.
• Work experience required for salaried employees: 2 years
• Business stability for domain meaning in hindi self-employed individuals: 2 years
• Loan amount eligibility: Rs. 10 lakhs to Rs. 5 crores

How to Apply for a Home Loan at YES BANK

Individuals can apply for a Home Loan at YES BANK in person at a branch or online.

• To find out more details about applying for home Loan at YES BANK individuals can message YES HL to 9223390909 or call YES BANK at 1800-419-1717.
  • Customers can also fill out this online form, outlining their financial requirements to get an instant call back from YES BANK officials.
• Customers can also sensitive meaning in hindi apply for a Home Loan at their nearest YES BANK branch.
  • While YES BANK ensures a speedy approval process, customers can ensure they have the required documents.

Document	Salaried	Self-Employed
Application with photograph	Yes	Yes
Aadhaar Card (non-mandatory for NRIs)	Yes	Yes
KYC	Address Proof Identity Proof Signature Proof	Address Proof (office and residence) Identity Proof Signature Proof
Pan Card/Form 60	Yes	Yes
Proof of Income	Last 2 years Salary Slip and IT returns/ Form 16	Last 2 years IT Returns with computation of income, audited Balance Sheet and Profit & Loss account including tax audit report if applicable and proof of turnover vide latest sales / service tax returns
Qualification Proof	Not applicable	Yes (applicable for Self-Employed Professionals)
Bank Statement	Last 6 months from the account where salary is credited	Last 6 Months from the operative account

Frequently Asked Questions about Home Loan at YES BANK

1. Can I only avail a home loan on the purchase of new property?

Answer: No, customers can acquire Home Loan through YES BANK for a variety of reasons, including purchase of plot and construction thereon or self-construction on an already owned plot or for any extensions and renovations on existing properties. Customers can also initiate a home loan transfer from other banks or lending to YES Bank for better services, lower rate of interest and/or additional Top up.

2. What is a Floating Rate Home Loan?

Answer: Floating Rate Home loans or Variable Interest rate loans refers to loans where the interest applicable on the Home loan varies with the change in the Bank's Benchmark rates such as Base Rate/MCLR/External Benchmark etc.

3. How can I switch to a Floating Rate Home Loan?

Answer: To switch from a floating rate to a fixed rate or vice versa, a fee equivalent to 0.5% of the remaining principal amount will be levied. However, if customers wish to switch from the Base Rate/MCLR to External Benchmark, no charges are applicable. Customers can do so by visiting the nearest YES BANK branch or writing to yestouch@yesbank.in.

4. Do I have to go to a YES BANK branch to apply for a loan?

Answer: Customers can visit their nearest YES BANK branch to apply for a home loan, but one of the biggest advantages YES BANK offers its applicants is service at their doorstep, whereby, customers can avail personalized service and counselling about the entire home loan application process in the comfort of their own home.

5. What are the tax benefits of a home loan and how can I avail them?

Answer: Both principal as well as interest of home loans attract tax benefits. As per Income Tax Act 1961 rules, the current applicable exemption under section 24(b) is INR 2,00,000/- for the interest amount paid in the financial year and up to INR 1,50,000/- (under section 80C) for the principal amount repaid in the same year. The same is subject to changes in the Income tax Act from time to time. We suggest that you may please consult your tax advisor for details.

6. Do all co-owners of a property must be co-applicants for the home loan?

Answer: Individuals often apply for Loan with a co-applicant, such as a spouse or a family member. The income of a co-applicant is used to enhance the loan amount eligibility and improve the chances of your loan being sanctioned. However, it should be noted that this increase will again depend on the monthly income, employment status and other financial obligations of your co-applicant. However, all co-owners of the property must be the co-applicants on the loan.

7. What is the Pre-EMI interest?

Answer: Before the full and final disbursement and commencement of EMI customers are required to pay interest only on the portion of the loan disbursed to them. This is also known as the pre-EMI interest rate and is payable every month from the date of each disbursement up to the date of commencement of the EMI.

8. What type of Home Loan does YES BANK Offer?

Answer: There are a variety of home Loan on offer:
a) Home Purchase Loan

b) Purchase of plot and construction thereon or self-construction on an already owned plot

c) Home Improvement Loan: for renovation and repair of your home

d) Home Loan Top-up: additional funding at attractive rates along with existing Home Loan on the same property

e) Home Loan Transfer: balance transfer of home Loan from other banks and Housing Finance Companies with Top up facility

f) Home Loan for Self Employed: tailor made home Loan for self-employed professionals or non-professionals

9. What is EMI?

Answer: EMI (Equated Monthly Instalment) is the amount payable to the Bank till the loan is paid back in full. The EMI consists of Interest as well as Principal component.

10. Who can be a co-applicant to a loan?

Answer: You can include your spouse or family members as a co-applicant for the loan. His / her income can be added to enhance the loan amount. However all co-owners of the property should necessarily be the co-applicant.

11. My home loan is linked to Base Rate. Can I switch my Home loan to MCLR?

Answer: Yes, existing YES Bank Home Loan customers who wish to switch their loans from Base Rate/Marginal Cost of Funds based Lending Rate (MCLR) to External Benchmark can approach the nearest Branch or write to loans@yesbank.in. No charges are applicable for switching from Base Rate/MCLR to External Benchmark