YES Bank offers discounts on credit cards; Loans on competitive terms

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Yes Bank on Wednesday introduced festival season offers with discounts on loan processing fees, low-cost EMIs, gift certificates, cashbacks, as well as various consumer loans at competitive interest rates.

Introducing the “Khushiyon Ki Karein Zimmedari Se Tayyari” campaign, Yes Bank said customers can take advantage of hassle-free loans for personal, business, two-wheeler and auto loans up to 100 percent of street rates at competitive rates with top-up with customized options and flexible payment plans.

In addition to these easy loan offers, customers can take advantage of over 100 attractive offers on Yes Bank credit cards with rewards, Yes Bank said in a press release.

Among the various offerings available, the lender said it will offer auto loans starting at 7.99 percent with up to 100 percent on-road rates, alongside a longer term option of up to 8 years.

It will also offer value-added services such as home delivery and free test drive. Yes Bank will also offer up to 100 percent car valuation for used cars at 10.49 percent and longer terms of up to 6 years.

In the personal loans category, customers can get personal loans up to Rs 50 lakh starting at 10.45 percent with the maximum term of 72 months, Yes Bank said. Two-wheeler loans up to 100 percent On-Road rates starting at 10.99 percent for term options from 12 to 84 months are also available.

It also introduced affordable home loans for families with incomes starting at Rs 9,000 a month, tailored schemes with minimal or no formal income documents and a subsidy of up to Rs 2.67 under Pradhan Mantri Awas Yojana, Yes Bank said.

The bank will also be offering gold loans at 10.99 percent with a flat processing fee of 799 rupees and a loan-to-value ratio of up to 90 percent through March 2021.

Likewise, the bank will offer business loans up to Rs 50 lakh at 15.75 per cent for ultra-edge customers, offering a flexible and longer repayment option.

Of the others, Yes Bank said it has partnered with popular brands to allow credit card holders to buy home appliances from EMI for free. Top donors can win prizes such as smartphones, TVs, Bluetooth speakers and shopping vouchers.

The bank also offered initiatives such as opening a savings account digitally from the comfort of your own home, the #YESforLocal initiative to support local companies and a fixed-term deposit facility.

Yes Bank Global Head (Retail Banking) Rajan Pental: “With purchases deferred during the lockdown, there is a lot of demand and our offers and products are perfectly positioned in this festive season to allow customers to fulfill their dreams and desires.”

Rajanish Prabhu, head of Yes Bank (credit cards), said the bank has teamed up with several reputable brands this year and curated a variety of offers both in-store and online to allow bank cardholders to enjoy great benefits across a variety of categories .

“Customers can take advantage of discounts, the best deals and rewards with offers that appeal to every type of shopper. Festivals are a time to enjoy with loved ones and we believe our attractive offerings will add a special touch to this festive season,” Prabhu said.

Earlier in the day, the State Bank of India also announced concessions of up to 25 basis points on home loan interest rates. A day ago, Axis Bank launched various consumer loan offers with special terms and discounts on various branded products on their debit/credit card purchases.

(Only the headline and image of this report may have been edited by Business Standard contributors; the rest of the content is auto-generated from a syndicated feed.)

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