Using a loan EMI calculator helps you choose the right lender. At YES Bank, you get the maximum tenure of 5 years which you choose as per your convenience. A regular EMI payment is not only necessary to clear off the loan but it also has a direct impact on your credit score. So, make sure you use YES Bank personal loan EMI calculator before finalize your loan.
| Loan Amount | |
| Interest Rate | |
| Tenure(Months) | |
| Monthly Instalment (EMI) | |
| Total Interest Amount | |
| Total Amount (Principal + Interest) |
| Year | Principal | Interest | Balance Amount |
|---|
Table of Contents
YES Bank Personal Loan EMI Calculator
Let us take an example showing the payments done if your loan details are as mentioned in the table. You can review the table and calculate EMIs for your loan with the help of a loan calculator.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| Loan Amount | Interest Rate | Tenure | Monthly Instalment | Total Interest Amount | Total Amount |
|---|---|---|---|---|---|
| ₹ 2,00,000 | 14% | 1 | ₹ 17,957 | ₹ 15,489 | ₹ 2,15,489 |
| ₹ 2,00,000 | 14% | 2 | ₹ 9603 | ₹ 30,462 | ₹ 2,30,462 |
| ₹ 2,00,000 | 14% | 3 | ₹ 6836 | ₹ 46,079 | ₹ 2,46,079 |
| ₹ 2,00,000 | 14% | 4 | ₹ 5465 | ₹ 62,334 | ₹ 2,62,334 |
| ₹ 2,00,000 | 14% | 5 | ₹ 4654 | ₹ 79,219 | ₹ 2,79,219 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| Year | Principal | Interest | Balance Amount |
|---|---|---|---|
| 1 | ₹ 29,701 | ₹ 26,142 | ₹ 1,70,298 |
| 2 | ₹ 34,137 | ₹ 21,706 | ₹ 1,36,160 |
| 3 | ₹ 39,235 | ₹ 16,608 | ₹ 96,925 |
| 4 | ₹ 45,095 | ₹ 10,749 | ₹ 51,829 |
| 5 | ₹ 51,883 | ₹ 4014 | ₹ 0 |
YES Bank Personal Loan EMI Calculation Formula
After knowing so much about the EMI Calculation, you should know about the formula on which EMI Calculation works. This formula alone helps in getting the right EMI amount in just a flash of a second. You can look at it below.
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
where,
EMI = Equated Monthly Installment
P = Principal Loan Amount
R = Monthly Interest Rate
N = Number of Monthly Installments
Parameters on which Personal Loan EMI is Calculated
As you can see from the above formula, there are mainly three main parameters that are responsible for the EMI calculation. You can know about all of them in detail below.
Required Loan Amount
The first and foremost thing that a borrower has to decide is how much loan amount he or she wants to meet the financial needs. The EMI amount will be directly dependent on your loan amount. Higher the loan amount, the higher will be the EMI amount. So, while choosing the loan, you must check your repayment capacity so that you can pay the EMI amount without any trouble.
Rate of Interest
The most crucial thing in the EMI calculator is the rate of interest for any kind of loan facility. There is another thing that you need to keep in mind that your EMI will be calculated on the basis of the monthly interest rate. YES Bank personal loan interest rate starts from 10.99% and it will depend on a lot of factors such as your age, employment type, employment history, and most importantly, your CIBIL score.
Tenure
YES Bank offers a maximum of 5 years to repay the loan amount. You also remember this fact that higher your repayment period will be, higher will be the interest outgo on your personal loan. So choose the tenure in a way that not only keeps the EMI in check while also reducing the interest payments substantially over time.
