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 |
|---|
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
What is the EMI of 7 lakh personal loan in Yes?
The EMI for a 7 lakhs YES bank personal loan depends on the loan tenure and the interest rate. Here, you can see the EMIs at the lowest and the highest Rate of Interest charged on YES bank Personal Loans. The tenure ranges from minimum of 36 months to maximum of 60 months.
| Loan Amount | ROI 10.99% (36 Months EMI) | ROI 10.99% (60 Months EMI) | ROI 12.99% (36 Months EMI) | ROI 12.99% (60 Months EMI) |
|---|---|---|---|---|
| INR 4 Lakhs | INR 13,094 p.m | INR 8,695 p.m. | INR 13,476 p.m. | INR 9,099 p.m. |
| INR 5 Lakhs | INR 16,367 p.m | INR 10,869 p.m. | INR 16,845 p.m. | INR 11,374 p.m. |
| INR 6 Lakhs | INR 19,640 p.m | INR 13,042 p.m. | INR 20,213 p.m | INR 13,649 p.m |
| INR 7 Lakhs | INR 22,914 p.m. | INR 12,216 p.m. | INR 23,582 p.m | INR 15,924 p.m. |
What is the monthly EMI for 10 lakhs Yes Bank personal loan?
You can refer to the table below for knowing your EMIs for a 10 lakh personal loan from YES bank.
| Loan Amount | ROI 10.99% (36 Months EMI) | ROI 10.99% (60 Months EMI) | ROI 12.99% (36 Months EMI) | ROI 12.99% (60 Months EMI) |
|---|---|---|---|---|
| INR 8 Lakhs | INR 26,187 p.m. | INR 17,390 p.m. | INR 26,951 p.m. | INR 18,198 p.m. |
| INR 9 Lakhs | INR 29,461 p.m. | INR 19,564 p.m. | INR 30,320 p.m. | INR 20,473 p.m. |
| INR 10 Lakhs | INR 32,734 p.m. | INR 21,737 p.m. | INR 33,689 p.m. | INR 22,748 p.m. |
What is the lowest EMI offered by Yes on Personal loan?
The lowest EMIs at an interest rate 10.99% and 12.99% for a tenure of 5 years on YES bank Personal Loan on different loan amounts will be:-
| Interest Rate of 10.99% | Interest Rate of 12.99% |
|---|---|
| 1 Lakh Loan Amount - INR 2,174 p.m. | 1 Lakh Loan Amount - INR 2,275 p.m. |
| 3 Lakhs Loan Amount - INR 6,521 p.m. | 3 Lakhs Loan Amount - INR 6,824 p.m. |
| 5 Lakhs Loan Amount - INR 10,869 p.m | 5 Lakhs Loan Amount - INR 11,374 p.m. |
| 7 Lakhs Loan Amount - INR 12,216 p.m. | 7 Lakhs Loan Amount - INR 15,924 p.m. |
| 9 Lakhs Loan Amount - INR 19,564 p.m. | 9 Lakhs Loan Amount - INR 20,473 p.m. |
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.
Frequently Asked Questions
1. How is the Yes Bank Personal loan EMI calculated?
You can calculate your YES bank personal loan EMI with the help of your desired loan amount, the loan tenure and the interest rate you have been offered by the bank. You can take the help of YES bank personal loan EMI calculator to determine your EMIs.
2. How can I pay Yes bank Loan EMI?
You can pay your YES bank loan EMIs by cheque, demand draft, cash, NEFT or RTGS payments, net-banking, using the bank application or by simply visiting the bank branch.
3. What is the formula to calculate Personal loan EMI?
The formula to calculate your Personal loan EMIs of YES bank will be –
EMI = P x R x (1+R)^n/((1+R)^n-1) where P represents the Principal Loan Amount, R represents the Rate of Interest Per month and “n” represents the loan tenure.
4. What factor affects Yes Bank Personal Loan EMI?
The factors affecting your YES bank personal loan EMIs are your loan amount, the loan tenure and the rate of interest of your loan.
5. What is the best way to calculate EMI for a Yes Bank Loan?
You can use the YES bank personal loan EMI calculator to know your EMIs in a convenient way. You will have to enter your loan amount, loan tenure and rate of interest to calculate the EMIs rapidly.