Exploring Yes Bank Two-Wheeler Loan Interest Rates and Benefits

Exploring Yes Bank Two-Wheeler Loan Interest Rates and Benefits

Loans by Team Drivio | Feb 20, 2024

On exploring Yes Bank's two-wheeler loan interest rates, you will get to know how competitive these loans are. This private-sector bank is known for its online approval, easy disbursal, and flexible loan terms. It’s wise to evaluate the cost of your loan and EMIs before finalizing your decision. 

Planning to finance your new motorcycle and enjoy better convenience and fuel efficiency? In India, most buyers reach out to reputed banks and NBFCs for affordable two-wheeler loans. In this post, we will be exploring Yes Bank's two-wheeler loan interest rates for bikes and superbikes. For your convenience, we have also discussed the perks of obtaining a motorcycle loan from this reputed bank.

Besides discussing Yes Bank's loan rates and benefits, we have carried out a comprehensive financing analysis. This will help you determine the overall cost of the loan and make your purchase.

Exploring Yes Bank Two-Wheeler Loan Interest Rates

Among the leading private-sector banks in India, Yes Bank stands out with its cost-effective loans and flexible terms. Motorcycle owners find tailored financial solutions from this lender as they brace up to make the purchase. The two-wheeler loans of Yes Bank are designed to make your ownership easier. A wide range of individuals, ranging from salaried professionals to self-employed people can count on this bank for motorcycle loans.

The rate of interest plays a crucial role in determining whether or not your motorcycle loan will be affordable. Currently, Yes Bank charges around 12% interest rate per annum for ordinary bike loans. In case you decide to purchase a superbike, the interest rate will be slightly lower, around 11.83% a year. However, considering the high price of superbikes, this small difference can reflect substantially in terms of savings on your interest in the coming years.

As you check out Yes Bank's loan rates and benefits, it’s worth noting that this bank sanctions large loans up to INR 25 lakhs for superbikes. Considering the competitive rates of interest, it’s worth applying for these loans.

Things To Know Before Applying For A Bike Loan With Yes Bank

Now that you are aware of Yes Bank’s interest rates on two-wheeler loans, let’s take a look at some of the other aspects affecting the cost of your loan.

  • Minimum loan amount – INR 10,000
  • Maximum loan amount – INR 25,000
  • Age criteria – 18 years to 65 years
  • Processing fee – Around 3% of the loan amount
  • Foreclosure charges – 3% to 5% of the outstanding amount at the time of the closure
  • Documents required – Age proof, ID proof, and bank statement

Considering these aspects, the loan perks and facilities look decent for a two-wheeler loan.

What Are The Benefits Of Yes Bank’s Two-Wheeler Loans?

Borrowers enjoy a wide range of benefits while obtaining two-wheeler loans from Yes Bank. These benefits enhance the overall borrowing experience. No wonder, why Yes Bank has emerged as the preferred choice for many individuals looking for motorcycle loans while making the purchase.

1. Flexible repayment options

 Yes Bank provides repayment tenure between 2 to 5 years, making your loan adaptable to your financial condition. The repayment options at Yes Bank are flexible, which allows borrowers to choose a tenure that suits their financial situation. Whether you choose a shorter tenure to minimize interest or a long tenure to lower your EMIs, you enjoy this flexibility. 

2. Fast loan approval

Do you need instant access to funds to purchase your new two-wheeler? Yes Bank is reputed for its quick loan disbursal processes. They need minimal documentation, and these days, most of the verification process is carried out online. This ensures that you can obtain your motorcycle loan quickly and drive your new two-wheeler sooner.

3. Competitive amounts of loans

 Interestingly, Yes Bank funds up to 85% of the cost of new bikes at competitive rates of interest. Thus, you can get a significant portion of the cost of your two-wheeler covered by the loan. As a result, borrowers need not worry about making large upfront payments when they finance their two-wheelers through this bank.

4. Attractive offers

From time to time, Yes Bank rolls out special promotional offers on two-wheeler loans. Particularly, during festive seasons, you can get these loans at discounted interest rates. At times, they partially waive the processing fee, too, which makes the loan more affordable. It’s wise to keep an eye out for these offers that can further bring down the cost of your two-wheeler loan.

A Guide To Choose The Right Terms For Yes Bank Two-Wheeler Loans

At the outset, it’s imperative to carry out a detailed financing analysis before you invest in a bike. This will help you evaluate the affordability and sustainability of the loan. Consider factors like interest rates, loan amount, repayment tenure, and monthly EMIs that you need to pay. The goal of carrying out this financing analysis is to make sure that the loan aligns with your financial capabilities and goals.

  • Decide the loan amount: The first step involves calculating the loan amount, where you need to consider the cost of your bike. Make sure to factor in the registration fees, taxes, and insurance costs. Evaluate the amount of financing you need from Yes Bank to purchase your motorcycle.
  • Compare interest rates: Some lenders offer more cost-effective rates of interest compared to Yes Bank. However, the digital processing and instant disbursal at Yes Bank continue to benefit lenders. After comparing the interest rates, decide whether you wish to get the loan from Yes Bank seamlessly.
  • Consider repayment options: Yes Bank offers different loan repayment options in terms of tenure. Based on your current financial condition, choose a tenure between 2 to 5 years. 

Wrapping up

 Exploring Yes Bank's two-wheeler loan interest rates, you can find a compelling opportunity to finance your new bike or scooter. Thanks to flexible repayment options, competitive interest rates, and a fast approval process, Yes Bank ensures hassle-free borrowing.

We have comprehensively discussed Yes Bank's loan rates and benefits for your understanding in this article. Reach out to one of the local branches to discuss the loan terms or apply for a two-wheeler loan online.