Calculate Your Loan EMI Easily | FinLecture
YES Bank Personal Loan EMI Calculator
Principal Amount
₹10,00,000
Total Interest
₹0
Total Amount
₹0
YES Bank Personal Loan EMI Calculator
If you're planning to take a personal loan from YES Bank, it’s essential to understand how much your monthly EMI (Equated Monthly Installment) will be. The YES Bank Personal Loan EMI Calculator helps you determine the EMI amount before you apply for the loan, so you can plan your finances accordingly.
What is the YES Bank Personal Loan EMI Calculator?
The YES Bank Personal Loan EMI Calculator is an easy-to-use, automated tool that helps you calculate your EMI based on the loan amount, tenure, and interest rate. Whether you are considering a loan for an emergency, a major purchase, or for consolidation, this calculator allows you to estimate your monthly payments in advance.
It enables you to adjust loan terms and interest rates, so you can find an EMI structure that best fits your financial capabilities. This pre-loan calculation helps you make informed decisions about your loan options with YES Bank.
How to Use the YES Bank Personal Loan EMI Calculator?
Using the YES Bank Personal Loan EMI Calculator is quick and straightforward. Simply follow these steps:
- Enter the Loan Amount (Principal) – Specify the amount you wish to borrow.
- Enter the Loan Tenure – Choose the loan duration, which can range up to 5 years.
- Enter the Interest Rate – Input the interest rate offered by YES Bank.
- Click on Calculate – Instantly, you’ll see your EMI details.
The calculator will provide you with the EMI amount you’ll need to pay each month, which helps you assess the loan’s impact on your budget.
Formula for the YES Bank Personal Loan EMI Calculation
The YES Bank Personal Loan EMI Calculator uses the following formula to calculate your monthly installment:
EMI = [ P x R x (1+R) ^ N ]/[(1+R)^N-1]
This formula expanded stands for:
P - Principal of the Personal Loan
N - Tenure of the Loan
R - Interest Rate of the Personal Loan
This formula can also be explained through an example of a personal loan from YES Bank, which is mentioned below.
Rohan wants to take a personal loan from YES Bank in July 2022. The principal amount for the loan that he wants to take is Rs. 1.2 lakhs. The period of the loan is five years, with YES Bank offering Rohan an interest rate of 11.5%.
Therefore the details of the loan are as follows:
Principal Amount = Rs. 1.2 lakhs
Tenure = 5 Years
Rate of Interest = 11.5%
EMI for Rohan = Rs. 2,639
Amortization Table of the Personal Loan
Based on the example that has been given above, we can conclude that this would be Rohan's repayment schedule:
| Year | Interest Paid | Principal Paid | Total Payment | Outstanding Loan |
| 2022 | 6,683 | 9,151 | 15,834 | 1,10,849 |
| 2023 | 11,717 | 19,953 | 31,670 | 90,897 |
| 2024 | 9,299 | 22,370 | 31,669 | 68,526 |
| 2025 | 6,587 | 25,083 | 31,670 | 43,442 |
| 2026 | 3,544 | 28,125 | 31,669 | 15,317 |
| 2027 | 518 | 15,316 | 15,834 | 0 |
Benefits of Using the YES Bank Personal Loan EMI Calculator
- Instant EMI Calculation: Get immediate results without any paperwork.
- Free of Charge: Use the calculator as many times as needed, at no cost.
- Time-Saving: No need to visit the bank or make complex calculations manually.
- Helps in Decision Making: Adjust the loan amount or tenure until you find an EMI that fits your budget.
Additional Features
YES Bank Personal Loan Preclosure Calculator:
The EMI Calculator also helps in estimating the loan pre-closure value. If you plan to settle your loan early, you can use the calculator to understand how your EMIs will change.
FAQs About the YES Bank Personal Loan EMI Calculator
Q1. How many times can I use the YES Bank Personal Loan EMI Calculator?
You can use the calculator as many times as you need. It’s free and available 24/7.
Q2. Do I need to sign up to use the calculator?
No sign-up is required to use the calculator. It’s completely hassle-free.
Q3. Can I use the calculator offline?
The YES Bank EMI Calculator requires an internet connection to work as it calculates results in real-time.
Q4. What benefits do I get from using the YES Bank Personal Loan EMI Calculator?
You can better plan your finances, understand EMI patterns, and compare loan options quickly.