Yes Bank Personal Loan EMI Calculator - Feb 2018

Last Updated 14th Feb 2018

Get monthly EMI as low as Rs. 2,224 per lakh on Yes Bank personal loan. Personal loan EMI in Yes Bank depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.

Yes Bank Personal Loan Calculator

Loan Amount1 year loan3 year loan5 year loan
Rs. 1 LakhRs. 8,838 Rs. 3,273 Rs. 2,174
Rs. 5 LakhRs. 44,189 Rs. 16,367 Rs. 10,869
Rs. 10 LakhRs. 88,377 Rs. 32,734 Rs. 21,737
Personal Loan EMI Calculator
Rs.

Personal Loan EMI Calculator Yes Bank

Yes Bank Personal Loan EMI

  • Personal Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Yes Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • Yes Bank offers affordable and convenient personal loans with loan EMIs as low as Rs. 2,224 per lakh for a 60 tenure and lowest rate of interest on personal loans at 11.99%.

Personal loan EMI calculator at different tenures

Personal Loan EMI for different loan amounts and tenures @ 11.99% interest rate

Loan Amount (Rs.)2 Years3 Years5 Years
1 LakhRs. 4,707Rs. 3,321Rs. 2,224
3 LakhRs. 14,121Rs. 9,963Rs. 6,672
5 LakhRs. 23,534Rs. 16,605Rs. 11,120
10 LakhRs. 47,069Rs. 33,210Rs. 22,239
  • From the above table, it can be interpreted that for various loan amounts taken at the lowest interest rate, EMI differs for loans taken at different tenures. Your EMI is higher when you take a loan for a shorter tenure of 2 years and is higher for a longer tenure loan of 4 years.
  • Each EMI includes a component of interest payment and principal repayment. Even as EMIs remain constant, every month there is a change in proportion of interest component and principal repaid. With every EMI payment, the proportion of principal repayment in EMI keeps increasing and the interest component keeps reducing.
Use EMI Calculator to calculate your interest on personal loan at different tenure
Personal Loan EMI for Rs. 1 Lakh loan amount at lowest 11.99% interest rate offered by Yes Bankfor different tenures
2 years 3 years 5 years
Yes Bank EMI for a loan amount Rs. 1 lakh at 11.99% 4,707 3,321 2,224
Total amount you pay back to the bank including principal and interest 1.13 Lakh 1.20 Lakh 1.33 Lakh
Interest you have to pay over loan tenure 12,968 19,556 33,440

The above table shows that EMI paid on the loan will be lower for a loan taken for a longer tenure. However, your total interest outgo is significantly higher in a long tenure loan. In the above example, if you take a Rs. 1 Lakh loan from Yes Bank for a period of 4 years, you pay the lowest EMI of Rs. 2,224. However, you pay an interest of Rs. 33,440 on a Rs. 1 Lakh loan.
In contrast, if you take a Rs. 1 Lakh loan from Yes Bank at the lowest loan rate for a period of 2 years, you pay a higher EMI of Rs. 4,707 and pay an interest of only Rs. 12,968 which is less than half of what you pay for a 4 year loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses.

Factors affecting Yes Bank Personal Loan EMI

  • Loan amount – This is the amount borrowed by a borrower from Yes Bank.If you apply for a higher loan amount, your monthly EMI will be high. Yes Bank gives a minimum loan of Rs. 2 Lakh which can go upto an amount of Rs. 20 Lakh.
  • Interest rate - Interest rates is the rate charged by Yes Bank on your personal loan. Higher interest rate increases your loan EMI which will increase the total cost of the loan. Lowest interest rate offered by Yes Bank is 11.99%. However, it is advisable to do complete market research and compare rates online before you apply for loan.
  • Loan tenure – This is the period in which you can repay your loan in Yes Bank. Longer loan tenure means lower personal loan EMI. Generally, Yes Bank offers loan for a maximum tenure of 5 years.

Yes Bank Personal Loan calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Yes Bank Personal Loan EMI is calculated:

In above formula,

P = Loan amount. This can range from Rs. 2 Lakh to Rs. 20 Lakh

r = Rate of interest per month. Current rate is 11.99%

n = tenure in month. For Yes Bank, this can be 60 months

Tips to decide the right amount of EMI
  • Decide the amount you need to borrow: It is important that before approaching a bank for loan, you need to estimate the amount of loan you need to borrow. Remember personal loan is an unsecured loan which can come at high interest rates and hence, it is advisable to limit your loan amount to the minimum required. Also, based on the EMI you can service, try to opt for lowest tenure of loans as long tenure loans result in huge interest outgo.
  • Review your current obligations: Before taking a loan it is advisable to do an evaluation of your current monthly expenses including any EMI obligations that you have on your current loans. The assessment will help you to estimate the amount of EMI you can pay comfortably after taking into account other obligations. Once you arrive at the EMI you can service, you can also decide on the right loan tenure.
  • Calculate your Yes Bank personal loan eligibility: Your personal loan eligibility is a function an assessment of your repayment capacity based on your monthly income and other fixed obligations.
    • Multiplier based loan amount eligibility - Yes Bank calculates your loan amount eligibility by applying a multiplier to your net take home salary. This is the simplest method for calculating a loan eligibility used by banks. The formula used in the loan amount eligibility calculation is: Loan Eligibility = (Your Net Salary) x (multiplier of 9 to 18). The multiplier depends on the bank’s internal categorization of your employer company based on its reputation, stability, size and growth in turnover.
    • FOIR based loan amount eligibility - Yes Bank will also estimate your Fixed Income to Obligations Ratio (FOIR) to ascertain the maximum EMI you can service based on your current income and other monthly expenses. The bank applies a certain ratio to your income to estimate your monthly expenses and then adds your other EMI obligations to calculate your fixed obligations. The proportion of fixed income to your calculated fixed obligations gives your FOIR. Yes Bank lends up to a maximum FOIR of 0.45. Based on the FOIR, the bank will also estimate the maximum amount of EMI you can service as a borrower. Yes Bank's assessment may be different from your own assessment. Any differences in assessment may require you to readjust your loan amount requirement. You may also consider paying back other running short term loans to improve your eligibility.
    • Yes Bank will calculate your loan amount eligibility based on the above two methods and will sanction you a lower loan amount arrived at, by the above two methods.
Quick guide on Yes Bank personal loan
  • Purpose of Loan: Yes Bank personal loan is taken to funding medical emergencies, paying additional debts, marriage expenses and other personal finance requirements.
  • Key Features
    • Loan available for both salaried and self employed.
    • Borrowers within the age group of 21and 60years.
    • Loan amount of minimum Rs. 2 Lakh toRs. 20 Lakh.
    • Loan Tenure 1to 5 years.
    • Interest rates in the range of 11.99%to 20.00%.
    • Lowest EMI of Rs. 2,224 per lakh.
  • Processing Fees: 1.50% of loan amount.
  • Special schemes: Yes Bank offers customised personal loan interest rates and schemes for special category of borrowers including borrowers working in reputed companies, banks or government employees etc.

Personal loan EMI calculator Yes Bank – How it works?

  • Yes Bank personal loan calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.
  • Yes Bank EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.
Personal loan EMI – EMI changes in case of prepayment

In case you prepay your personal loan, the outstanding balance on your personal loan reduces. Yes Bank gives you two options:

  • Reduce your loan tenure and keep EMI on your personal loan unchanged: This option allows you to close your loan earlier and save the interest outgo associated with the remaining tenure. This is suitable for borrowers who feel that they have adequate income to continue servicing the same level of EMIs.
  • Reduce the amount of EMI and keep your loan tenure same: This option allows you to reduce your monthly EMI and hence, increases the availability of monthly surplus which you can deploy for other purposes. This is suitable for borrowers who anticipate higher monthly personal expenses and hence, would want to reduce their monthly EMI obligations.

FAQs on Yes Bank EMI Calculator

Why should I calculate Yes Bank loan EMI before taking a loan?

It is advised to calculate personal loan EMI prior to taking a personal loan. There are several benefits of calculating your Yes Bank personal loan EMI as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance toapply for a lower loan amount which fits your monthly budget and makes EMI easilyaffordable
  • If you already know the EMI you have to pay each month, then you can plan your spendsaccordingly
  • Based on the EMI amount, you can opt for making prepayment of your personal loan infuture when you have surplus amount
What is the lowest EMI per lakh offered by Yes Bank on personal loan?

Yes Bank offers personal loan at 11.99% interest rate and hence lowest EMI on per lakh loan amount is Rs. 2,224. However, Yes Bank personal loan interest rate for salary account holders or existing customers can vary.

Can I prepay my Yes Bank personal loan?

Yes Bank offers you an option of prepayment after 6 months at 4% till 12 EMIs and after that Nil charges.

Is there any processing charge on personal loan from Yes Bank?

Personal Loan from Yes Bank charges a processing fee of 1.50%.

Will i get the personal loan from Yes Bank if i have a bad credit score?

No, for taking a loan from Yes Bank, an applicant must have a good credit score of 700 and above. Usually, most of the banks avoid giving loans if you have low credit score.

How does a personal loan repayment happen?

The repayment of a personal loan happens in the form of an EMI (Equated Monthly Installment) through the customer's bank account. The customer is required to present a few post dated cheques and sign an ECS mandate in favour of the bank at the time of disbursing the loan.

Can i have a co-applicant while applying for a Personal loan with Yes Bank ?

Yes, you can opt for a co-applicant to take personal loan from Yes Bank that will increase your personal loan eligiblity as the income of the co-applicant is also taken into account.

Compare Personal Loan EMI of All Banks

Yes Bank Personal Loan EMI Calculator Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 1800-2000
Ahmedabad 9974390909
Ambala 1800-2000
Anand 9974390909
Aurangabad 998-729-0909
Bangalore 900-839-0909
Bhilai 1800-2000
Bhilwara 1800-2000
Bhiwadi 998-729-0909
Bhopal 1800-2000
Bhubaneswar Cuttack 1800-2000
Bikaner 1800-2000
Chandigarh 1800-2000
Chennai 1800-2000
Cochin 1800-2000
Coimbatore 1800-2000
Dehradun 1800-2000
Delhi 995-839-0909
Durg 1800-2000
Faridabad 995-839-0909
Gandhinagar 9974390909
Ghaziabad 995-839-0909
Goa 1800-2000
Greater Noida 995-839-0909
Gurgaon 995-839-0909
Guwahati 1800-2000
Gwalior 1800-2000
Hyderabad 1800-2000
Indore 1800-2000
Jabalpur 1800-2000
Jaipur 1800-2000
Jalandhar 1800-2000
Jodhpur 1800-2000
Kanpur 1800-2000
Karnal 1800-2000
Kolhapur 998-729-0909
Kolkata 974-849-0909
Kota 1800-2000
Kozhikode 1800-2000
Lucknow 1800-2000
Ludhiana 1800-2000
Madurai 1800-2000
Meerut 1800-2000
Mehsana 9974390909
Mohali Sas Nagar 1800-2000
Mumbai 998-729-0909
Mussoorie 1800-2000
Nagpur 998-729-0909
Nashik 998-729-0909
Noida 995-839-0909
Noida Extn 995-839-0909
Panipat 1800-2000
Patna 1800-2000
Pondicherry 1800-2000
Pune 998-729-0909
Raipur 1800-2000
Rajkot 9974390909
Ranchi 1800-2000
Rohtak 1800-2000
Roorkee 1800-2000
Salem 1800-2000
Shimla 1800-2000
Sonepat 1800-2000
Surat 9974390909
Trichy 1800-2000
Udaipur 1800-2000
Vadodara 9974390909
Varanasi 1800-2000
Vijaywada 1800-2000
Vizag 1800-2000

Yes Bank Personal Loan News - Feb 2018
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