Yes Bank Onboarding
Know the onboarding process and eligibility criteria for Yes Bank powered RazorpayX Corporate Cards.
Understand in detail the onboarding process and eligibility criteria for RazorpayX Corporate Cards powered by Yes Bank.
- to raise a request for Corporate Cards.
- Razorpay checks eligibility based on policies.
- Submit for KYC verification by Razorpay and YBL.
- Assessment of credit card limit by YBL.
- Sanction letter issued by YBL.
- Post-sanction documentation like signed agreements on stamp paper, original documents verification, and so on.
- Final KYC and CKYC (Central KYC, a process of checking your KYC with the nation-wide Central repository of all registered KYCs).
- Card issuance and despatch.
- Card activation.
Handy Tips
Secured Cards do not require the above eligibility criteria to be met. They are sanctioned solely based on Fixed Deposit(s). The deposit is lien-marked against the Corporate Card santioned. Secured Cards are:
- Suitable and recommended for entities failing to meet the criteria for Unsecured Cards by partner banks.
- Available for any registered entity (including trust, proprietorship, partnership and society).
- Sanctioned for a maximum limit of 90% of the deposit amount.
- Minimum deposit required is 7 lakhs, which is negotiable up to 5 lakhs. The deposit will earn interest as per prevailing bank norms.
Watch Out!
- All policy changes and final underwriting decisions rest solely with Yes Bank, in accordance with applicable RBI regulations.
- Premature closure of the lien-marked FD is not permitted while the card is active, though partial withdrawals may be allowed subject to the credit limit, as per the norms by the partner bank.
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