Yes Bank Home Loan Interest rates in Rajamundry
Yes Bank Home Loan Floating interest Rates
| Up To 20,000,00 | |
|---|---|
| Salaried | 9.85% |
| Self Employed | 10.50% |
Loan To Value (LTV) For Yes Bank Home Loan in Rajamundry
Documentation For Home Loan
For Salaried Persons
- Filled Application form
- Identity Proof (PAN CARD)
- Address Proof
- Latest 3 months Payslips
- Job Continuity Proof
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
For Self Employed/Professionals
- Filled Application form
- Identity Proof
- Address Proof
- Last 2 years Income Tax Returns
- Professional/Self employed existence proof for more than 3 years
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
Identity Proof For Home Loan
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof For Home Loan
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Income Proof For Home Loan
- Passport
- Telephone bill (BSNL/MTNL)
- Electricity bill
- Title deed of property
- Rental agreement
- Driving license
- Election ID card
- Photo-credit card (with last two month statements)
Address Proof For Home Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Job Continuity Proof For Home Loan
- Form 16
- Relieving letter
- Appointment Letter (for last two months)
- Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
Banking History For Home Loan
- Bank statements of latest 2 months
- 3 months bank passbook
Property Related Documents For Home Loan
- Min of 15 years of Link documents of Property
- Min 15 Years of Encumbrance Certificate (EC) of the property obtained from Govt. Authorities
- Property Sanction plan
- BRS/LRS copies (if required, any)
Yes Bank Home Loan FAQ's
About Yes Bank
YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.
YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “BUILDING INDIA’s FINEST QUALITY LARGE BANK”.
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Home Loan Can Be Used For Many Purposes Like Below
Why Home Loans?
Most of the families prefer to have their own house whether big or small. There is a significant difference staying in a self owned house than in a rented shelter. House is the most costly asset owned by middle and upper middle class families and it has emotional value. Affording own house with actual money is not always possible. Even though a person has stable income, years of savings are required to own a house in this current market. A Home loan answers the problems of those people who are willing to have their own home but do not have sufficient money to do that. You can now own your dream home by availing Home loan.
Home loan is normally for purchase of a new House/ Flat/Plot or renovation/ renewing of existing residential or commercial properties. Home loans are provided by Banks and registered finance companies. In Indian market there are several Banks/ HFCs providing Home loans at competitive interest rates. Home loan is always secured against the property that you buy. In case you are unable to repay the loan amount the lending bank will have right to take possession of the home.
In case of a Home loan entire lump sum amount will be sanctioned and disbursed initially based on the credit worthiness. You can plan your housing loan repayment tenure varying from 10-30 years and is repayable in form of EMIs. The rate of interest applicable is linked with Bank's base rate. You have a option to chose floating interest rate or fixed interest rate for the loan amount. For those who want the EMI amount to be fixed and are intending to plan their payments accordingly can opt for fixed interest rate. Those who are ready to take minimal risk and intend to avail the advantage in the long run can avail floating rate of interest. Floating rate of interest is more beneficial in the long run.
Expert Advice
Best Practices for Home Loan
Things not to do for Home Loan
Interest Rates
Other Benefits
Facts about Home Loans
The Banks/Financial Institutes takes care about the following, when you apply for a Home Loan.
Home Loan Vs Mortgage Loans
| Home Loans | Mortgage Loan |
|---|---|
| Home loan can be availed for own/purchase of new property (Home or Flat). | Mortgage loans will be provided based on already owned property. |
| Under Home Loan, loan can be availed only for purchase of new property. | There is no restriction on mortgage loan usage. It can be used for any purpose. |
| Housing Loan will be provided for max of 25 years, some banks can extend it to 30 years also. | Mortgage loans will be restricted to max of 10 years of term, which will be varying from bank to bank in India. |
| Home Loans interest will be as low as 9.95% to max of 11.5%, these interest rates will be subject to change as per market condition. | Interest rate will be very from 12% to max of 15% based on the bank to bank. Generally mortgage loans will be fixed interest loans. |
| Home Loan customers can be eligible for Income tax deduction of Rs 1.00 lakh on housing loan interest under section 80EE. This would be in addition to the existing tax benefit of Rs 1.5 lakh under section 24, only if the value of the property purchased should not exceed Rs 40 lakh. Also, it could result in maximum savings of Rs 30,000-31,000. | If the money received from a mortgage loan is used for business purposes, the interest can be claimed as an expense on the balance sheet of the business. However, if an individual is using it for personal end use, like marriage or medical expenses, the interest is not tax deductible as per income tax guidelines. |
| Loan can be availed up to max of Rs. 1.0 Cr under home loan, for real estate project funding it can be up to Rs. 20.0 based on the bank risk appetite. | Mortgage Loans can be avail up to Rs. 15.0 cr based on the type of property and its usage and value of property and eligibility of applicants as per banks norms. |
| There is no prepayment penalty for the housing loan customers, when the loan will be cleared by the own funds. | There will be pre payment changes will be applicable for mortgage loans. This will be vary from 1% to 3% as per bank internal guidelines. |
| Part pre Payments will be allowed in Housing Loans. | There were no part prepayment will be allowed for Mortgage loans. |
| Housing Loan can be availed with joint eligibility by Husband and wife or blood relatives. | Mortgage loans also avail with the joint eligibility as company and director or blood relatives. |
| You can avail max of 80% of the property value as a home loan as per your eligibility criteria. | In Mortgage Loan max of 65% property value can avail as a Loan based on the type of property. |
| You can avail a top loan facility on your home loan. | Top up facility will be vary from bank to bank internal guidelines. |
About Rajamundry
Rajahmundry, originally known as Rajamahendri, is better known as the ‘cultural capital and born city’ of Andhra Pradesh, this is one of the major cities in the Indian state of Andhra Pradesh. It is located on the banks of the Godavari River, in East Godavari district of the state.
This is probably due to the fact that the Telugu language originated here. Poet Nannayya gave Telugu a script here which made it a language. It is the birth place of poet Nannayya, who is also called the first poet of Telugu. Earlier a part of Chennai , the city has River Godavari to its west. It is believed that the Chalukyas were the earliest rulers of the place. Rajaraja Narendra was a Chalukya king who ruled the city during the 11th century.
Places To Be Visited In Rajamundry
DOWLESWARAM BARRAGE
At a distance of 10 km from Rajahmundry Railway Station, Dowleswaram Barrage is an irrigation structure which is built at Dowleswaram, on the lower stretch of the Godavari River before it empties into the Bay of Bengal. The barrage was built by a British irrigation engineer, Sir Arthur Thomas Cotton.
Sir Arthur Cotton Museum
Constructed in 1988, this museum is dedicated to the memory of Sir Arthur Cotton who was the mastermind behind the transformation for the ferocious Godavari river into a tame force useful for irrigation and water supply. He is popularly known as the 'Delta Architect' of the Godavari district. the museum chronicles his work through pictures.
DRAKSHARAMAM
This temple was constructed by the East Chalukyan king during 9th century. The temple also consists one of the Shakti Peethas called Sri Manikyamba. The speciality of this Shiva Lingam in this temple is that, the early morning tender Sun light falls on the Linga. There are nearly 800 ancient scripts on the walls of the temple. The celebrations in this temple were started during 14th century in the period of Reddy Kings. Shiva Lingam is nearly 9 ft height and the top part is seen at the first floor.
Pattiseema
Pattiseema, is a beautiful place located on the banks of river Godavari in West Godavari district of Andhra Pradesh. It is situated between Rajahmundry and Papikondalu and can be reached by road and boat from Rajahmundry. There are two temples in Pattisam, Sri Veerabhadra Swamy, dedicated to Lord Shiva and Sri Bhava Narayana Swamy dedicated to Lord Vishnu. This temple is one of the Panchakasi Kshetras.
Godavari Bund(Bridge)
Built over a sea, it is the second largest road cum rail bridge in the country. It is also the second of the 3 bridges that span across the Godavari River.
Goutami Ghat
Goutami Ghat is one of the premier recreational places in Rajahmundry, it houses ISKCON Temple, Riverbay Resorts and Water park, Ayyappa Temple, Kailash Bhoomi.