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Yes Bank Personal Loan EMI Calculator - Mar 2021

Yes Bank Personal Loan Calculator

Last Updated 16th Feb 2021

Get monthly EMI as low as ₹ 2,144 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.

Loan Amount1 Year Loan3 Year loan5 Year loan
₹ 3 Lakh₹ 26,431₹ 9,737₹ 6,433
₹ 6 Lakh₹ 52,861₹ 19,473₹ 12,867
₹ 12 Lakh₹ 1,05,722₹ 38,946₹ 25,733
Personal Loan EMI Calculator Or Free Corona Health Insurance Cover of up to ₹5 lakh
Lowest Interest Rate
Best Offers on Personal Loan offerOffers
Bank/NBFCs Rate* EMI per Lakh* Action
HDFC Bank10.50%₹ 2,149Check Eligibility
Bajaj Finserv12.99%₹ 2,275Check Eligibility
ICICI Bank10.75%₹ 2,162Check Eligibility

* Starting From

Personal Loan EMI Calculator Yes Bank

  • Personal Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Yes Bank against the loan taken for repayment of your loan and payment of interest 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 ₹ 2,144 per lakh for a tenure of 60 months and lowest rate of interest at 10.40%.
  • Yes Bank Personal loan EMI calculator is a convenient and reliable tool that helps the loan borrower determine the loan repayment schedule. In addition to that, the Yes Bank personal loan EMI calculator helps first-time loan borrowers to ensure whether they should opt for a loan or not.

Personal loan EMI calculator at different tenures

Personal Loan EMI for different loan amounts and tenures @ 10.40% interest rate

Loan Amount (Rs.)2 Years3 Years5 Years
1 Lakh ₹ 4,633 ₹ 3,246 ₹ 2,144
3 Lakh ₹ 13,899 ₹ 9,737 ₹ 6,433
5 Lakh ₹ 23,165 ₹ 16,228 ₹ 10,722
10 Lakh ₹ 46,330 ₹ 32,455 ₹ 21,444
  • 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 years.
  • Each EMI includes a component of interest payment and principal repayment. Even as EMIs remain constant, every month, there is a change in the 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.
Yes Bank Personal Loan Interest Calculator
Personal Loan EMI for ₹ 1 Lakh loan amount at lowest 10.40% interest rate offered by Yes Bank for different tenures
Calculated Results for Yes Bank Home Loan EMI 2 years 3 years 5 years
Yes Bank EMI for a loan amount Rs. 1 lakh at 10.40% ₹ 4,633 ₹ 3,246 ₹ 2,144
Total amount you pay back to the bank including principal and interest ₹ 1.11 Lakh ₹ 1.17 Lakh ₹ 1.29 Lakh
Interest you have to pay during the loan tenure ₹ 11,192 ₹ 16,856 ₹ 28,640

The above table shows that EMI paid on 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 ₹ 1 Lakh loan from Yes Bank for 60 years, you pay the lowest EMI of ₹ 2,144. However, you pay an interest of ₹ 28,640 on a ₹ 1 Lakh loan.
In contrast, if you take a ₹ 1 Lakh loan from Yes Bank at the lowest loan rate for 2 years, you pay a higher EMI of ₹ 4,633 and pay an interest of only ₹ 11,192 which is less than half of what you pay for a 60 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 that you have borrowed from Yes Bank. If you apply for a higher loan amount, your monthly EMI will be high. Yes Bank gives a minimum loan of ₹ 2 Lakh, which can go upto an amount of ₹ 20 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. Yes Bank personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by Yes Bank is 10.40%. However, it is advisable to do complete market research and compare rates online before you apply for a 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 a loan for a maximum tenure of 5 years.

Personal Loan Amortization Calculator

An amortization schedule is a table of periodic loan payments that shows the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term.

In the Amortization schedule, your Personal Loan monthly EMI will be equal, but the component of EMI, which consists of interest payment and principal payment will not remain the same every month, it keeps on changing.

Illustration: How to read an amortization schedule

Suppose if you take a Personal Loan of ₹ 2.50 Lakh for 4 years at an interest rate of 10.40%. EMI calculated for this loan amount is ₹ 6,389 and the total annual EMIs to be paid annually is ₹ 76,665. The EMI schedule of loan for 4 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 2.50 Lakh over the 4 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 19,981 ₹ 43,906 ₹ 63,888 ₹ 2,06,094
2022 ₹ 18,723 ₹ 57,942 ₹ 76,665 ₹ 1,48,152
2023 ₹ 12,402 ₹ 64,264 ₹ 76,665 ₹ 83,888
2024 ₹ 5,390 ₹ 71,275 ₹ 76,665 ₹ 12,613
2025 ₹ 164 ₹ 12,613 ₹ 12,778 -₹ 0

Each Personal Loan EMI consists of both amounts of interest as well as the principal repaid. The interest component of EMI goes down while the principal component goes up in both cases while doing the calculation.

In the above illustration, on a Personal Loan of ₹ 2.50 Lakh, taken at the lowest interest rate of 10.40%, EMI paid is ₹ 6,389 and an annual total of EMIs is ₹ 76,665, the interest component is ₹ 23,514 while the principal component is ₹ 53,152 in year 1 of loan disbursement. You repay only 21.26% of the total principal after paying 12 EMIs during the first year.

In year 4, the interest component of EMI is around 5.41%, while the principal component is around 94.59%. Upto 4 years, you have cumulatively repaid 100% of your total Personal Loan.

Yes Bank Personal Loan Interest 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 the above formula,

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

r = Rate of interest per month. Current rate is 10.40%

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

How to decide the right amount of EMI?

As a borrower, calculating right amount of EMI is a function of your loan requirement, your monthly income, repayment capacity as well as the amount of monthly instalment you can afford to pay out from your monthly income. As a guide, follow the below steps to estimate the EMI amount that is advisable for you.

  • 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, a personal loan is an unsecured loan that 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 the 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 evaluate your current monthly expenses including any EMI obligations that you have on your current loan accounts. 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 loan eligibility is a function of 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 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 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 treatment in case of emergencies, paying additional debts, marriage expenses and other personal finance requirements.
  • Key Features
    • Loan available for both salaried individuals and self-employed professionals.
    • Borrowers within the age group of 21 and 60 years.
    • Loan amount of minimum ₹ 2 Lakh to ₹ 20 Lakh.
    • Loan Tenure 1 to 5 years.
    • Interest rates in the range of 10.40% to 20.00%.
    • Lowest EMI of ₹ 2,144 per lakh.
  • Processing Fees: Min-Flat Rs.2021 of loan amount. This is to be paid at the time of loan application
  • Special schemes: Yes Bank offers customised personal loan interest rates and schemes for a 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 are online tools which give out EMI calculations using 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.

In case you prepay your personal loan, the outstanding balance on your loan reduces. In this scenario, Yes Bank will allow you to reduce your loan tenure or reduce your EMI. The right decision is dependent on you monthly budget and personal preference. You should opt to reduce your EMI if you want to have a higher monthly spend budget or you should opt to lower your tenure if you want to save on your total interest outgo and want to close your loan quickly. You can calculate the change in your EMI by inputting the outstanding personal loan amount from Yes Bank, the interest rate and the remaining tenure in the EMI calculator.

Other Loan Calculators

FAQs

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

It is advised to calculate personal loan EMI in advance before 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 to apply for a lower loan amount which fits your monthly budget and makes EMI easily affordable
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly
  • Based on the EMI amount, you can opt for making prepayment of your personal loan in future 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 10.40% interest rate for a maximum of 60 months, and hence lowest EMI on per lakh loan amount is ₹ 2,144. However, Yes Bank may offer a lower interest rate and EMI for their salary account holders or existing bank customers can vary.

How can I pre close Yes Bank personal loan?

You can preclose your Yes Bank personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of balance amount that you have paid.

What are the prepayment charges on Yes Bank ?

Yes Bank offers you an option of prepayment after 12 months at Up to 4%.

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

Yes, Yes Bank charges a certain amount of processing fee to process your loan application. Currently, Yes Bank charges a processing fee of Min-Flat Rs.2021 on Personal Loan.

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 a 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 loan disbursal.

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 a personal loan from Yes Bank that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in Yes Bank personal loan?

If you have funds, then you can pay more than the regular EMI on your loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my Yes Bank loan EMI?

You can pay the EMI on personal loan by using ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque.

Compare Personal Loan EMI of All Banks

Yes Bank Personal Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 1800-2000
Ahmedabad 9974390909
Ambala 1800-2000
Anand 9974390909
Aurangabad Bihar 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
Sonipat 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 Reviews 4.5/5  by 114 customers
MyLoanCare Service
4.6/5.0
Banks Service
4.3/5.0
Jayaprakash, Ahmedabad
Reviewed on 11th Nov 2020
4.5 / 5 stars
Yes Bank Personal Loan Availed in Oct 2020

It was an awesome experience with MyLoanCare especially with the personnel Mr. Anuj Kapoor. He givesRead more...

Jayanth, Hyderabad
Reviewed on 09th Nov 2020
5 / 5 stars
Yes Bank Personal Loan Availed in Nov 2020

Very quick and fast process. Absolutely preferred source to process any loans.Read more...

Sumanta, Bhubaneswar Cuttack
Reviewed on 07th Nov 2020
5 / 5 stars
Yes Bank Personal Loan Availed in Nov 2020

Persuation was excellent and also committment was remarkable to provide the required amount.Read more...

Ketan, Vadodara
Reviewed on 27th Oct 2020
4.5 / 5 stars
Yes Bank Personal Loan Availed in Oct 2020

Good service provider by MyLoanCare. Must try the benefits.Read more...

Dayabhai, Surat
Reviewed on 27th Oct 2020
5 / 5 stars
Yes Bank Personal Loan Availed in Oct 2020

MyLoanCare is a one stop solution for all your financial needs. Thanks to Dinesh Kumar sir and team.Read more...

Rohit, Jamshedpur
Reviewed on 22nd Oct 2020
5 / 5 stars
Yes Bank Personal Loan Availed in Oct 2020

It was a pleasant experience with MyLoanCare and Yes Bank.Read more...

Rajat, Delhi
Reviewed on 21st Oct 2020
5 / 5 stars
Yes Bank Personal Loan Availed in Oct 2020

Thanks. Very prompt response from MyLoanCare and the Bank team.Read more...

Ganesh, Hyderabad
Reviewed on 08th Oct 2020
5 / 5 stars
Yes Bank Personal Loan Availed in Oct 2020

MyLoanCare service is very good. They are very cooperative, they helped me get a personal loan with Read more...

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Yes Bank Personal Loan News - Mar 2021
  • 2021-01-06 : Yes Bank reported 1.3% quarterly growth in loans and advances
    Yes Bank registered 1.3% quarter-on-quarter growth in loans and advances which includes home, personal, gold, car, two-wheeler and education loans along with business and mudra loans to Rs 1.69 lakh crore during the December quarter. Deposits which include fixed and recurring deposits grew 7.7% to Rs 1.46 lakh crore. Further, the current account and savings account deposits grew 12.6% to Rs 37,973 crore.
  • 2021-01-05 : YES BANK retail loan disbursal to become easier and faster
    YES BANK has joined hands with Salesforce to make its retail loan disbursal easier and faster. This collaboration aims to engage customers with a unified experience and drive aggressive retail-led growth for the bank. Further, the partnership will improve the disbursal process of retail loans like home, personal, car, two-wheeler, gold and education loans.
  • 2020-07-28 : Yes Bank reported a net profit of 45. 44 crore for June quarter
    YES Bank posted a 60.05% year-on-year fall in net profit at Rs 45.44 crore for the quarter ended June 30. The Bank had posted a net profit of Rs 113.76 crore in the corresponding quarter last year. Deposits at Rs 1,17,360 crore grew 11.4% QoQ aided by 26.4% QoQ growth in current account deposits and 12.6 per cent QoQ growth in term deposits which includes fixed and recurring deposits. CASA ratio stood at 25.8%. Further, Net interest income was at Rs 1,908 crore bolstered by home, personal, gold, car and two-wheeler loan along with business and mudra loans.
  • 2020-07-06 : YES Bank introduces instant loan disbursement facility
    Private lender, Yes Bank has launched an instant loan disbursement facility. The facility will help the retail customers like that of home, personal, gold, two-wheeler, and car loan to apply for the loan in a smooth and fast manner.
  • 2019-11-22 : Yes bank reports 600 crore loss due to tax hit in Q2
    Yes Bank reported a loss of Rs. 600 crore in the September quarter after getting a profit of Rs. 964.70 crore in the corresponding year. The loss is a result of an adjustment of Rs. 709 crore on account of the corporate tax regime. Gross Non-Performing Assets of the bank increased to 7.39% from 5.1% in the June quarter. Yes Bank is one of the fastest-growing private banks in home loans and personal loans.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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