YES Bank Personal Loan EMI Calculator

Using a loan EMI calculator helps you choose the right lender. At YES Bank, you get a 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 the YES Bank personal loan EMI calculator before finalizing your loan.

How to Use Wishfin YES Bank Personal Loan EMI Calculator?

Just visit the Wishfin YES Bank personal loan calculator page. Enter the loan amount, the time you need to pay it back, and the interest rate you prefer. Hit the calculate button, and you'll see your EMI result almost instantly. You can also adjust your loan amount, tenure, and interest rate using the sliders provided.

Additionally, you'll see an amortization table that shows how your loan payments are split between the principal and interest over the loan's duration. This helps you understand how your loan balance changes over time.

Example of YES Bank Personal Loan EMI Calculation

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

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

If you borrow ₹4 lakh at an interest rate of 12.99% for a period of 5 years, here's how your monthly payment (EMI) is calculated:

• Principal Amount (P): ₹4,00,000
• Interest Rate (R): 12.99% per annum (which is 0.1299 per month)
• Loan Tenure (n): 5 years, or 60 months

Let’s see how it works:

[4,00,000 x 0.129 x (1 + 0.129) ^ 60]/[(1+0.129) ^60 -1] = 9,099.18

The EMIs you will be required to pay is ₹ 9,099.18

YES BANK Personal Loan Amortisation Schedule

Here is the amortization schedule for the example provided above, to assist you further:

What is the EMI of a 1 Lakh Personal Loan in YES Bank?

Below, we have calculated the EMI for a 1 lakh YES Bank personal loan over a tenure of 5 years. This calculation is based on the lowest and highest interest rates charged by YES Bank on their personal loans.

What is the EMI of a 3 Lakh Personal Loan in YES Bank?

Below, we have calculated the EMI for a 3 lakh YES Bank personal loan over a tenure of 5 years. This calculation is based on the lowest and highest interest rates charged by YES Bank on their personal loans.

What is the EMI of a 7 Lakh Personal Loan in YES Bank?

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.

What is the monthly EMI for a 10 Lakh YES Bank Personal Loan?

You can refer to the table below for knowing your EMIs for a 10 lakh personal loan from YES bank.

What is the Lowest EMI Offered by Yes Bank on a 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:-

Parameters on which Personal Loan EMI is Calculated

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.

Why Should You Use YES Bank Personal Loan EMI Calculator?

Here are several important reasons why you should use the YES Bank personal loan EMI calculator:

• Easy estimation of monthly payments: The calculator allows you to quickly and easily estimate your monthly EMI payments before applying for a personal loan from YES Bank.
  
• Financial planning: It helps you plan your finances better by giving you a clear idea of how much you'll need to budget for loan repayments each month.
  
• Comparison of loan options: You can use the calculator to compare different loan amounts, interest rates, and tenures to find the most suitable option for your financial situation.
  
• Accuracy: The calculator uses the exact formula employed by banks to calculate EMIs, providing accurate results.
  
• Accessibility: It's a free online tool that you can use anytime and from anywhere, making it convenient for potential borrowers.
  
• Improve loan eligibility: By calculating your potential EMI, you can adjust loan parameters to ensure your total EMI obligations don't exceed 50-60% of your monthly income, potentially improving your loan eligibility.

YES Bank Personal Loan Eligibility

Here are the key factors YES Bank considers for a personal loan:

• Applicant's age: You should be between 21 and 60 years old to apply.
• Credit score: A credit score of 700 or higher increases your chances of getting your loan approved.
• Monthly income: Your income is important as it shows your ability to repay the loan.
• Employer's reputation and job history: Lenders check where you work and your job stability.
• Credit history and other debts: They also look at your credit history, other loans you might have, and your monthly expenses before approving your loan.

Factors Influencing YES Bank Personal Loan EMI

Here's how different factors affect your ability to get a personal loan from Yes Bank:

• Age: If you're in your 20s or 30s, you might get a bigger loan because you can choose a longer time to pay it back. This depends on meeting other loan requirements too.
  
• Income: Your income helps determine how much you can borrow and your interest rate. It’s a good idea to talk to the bank to see if your income is enough to get a loan. If you earn more, you might be able to borrow more because you can likely pay it back.
  
• Work experience: The bank usually gives personal loans to people who have been working or running a business for a few years. Having a stable job or business suggests financial stability.
  
• CIBIL score: A CIBIL score above 700 may help you get a larger loan amount at a better interest rate.
  
• Financial liabilities: If you already have debts like other loans or credit card bills, you might not be able to borrow much. This is because your ability to pay back more money might be limited.

Fees and Charges Related to YES Bank Personal Loan

Here are a few charges and fees associated with YES Bank personal loan: