| Monthly EMI | ₹ |
| Principal amount | ₹ |
| Total interest | ₹ |
| Total amount | ₹ |
Your Amortization Details (Yearly/Monthly)
The YES Bank provides customers with loans and tenures that go up to Rs. 20 lakhs and five years, respectively. If you want to know what your EMI will be when you apply for a personal loan in the YES Bank, you can simply use a YES Bank personal loan EMI calculator from Groww.
The YES Bank personal loan EMI calculator is an automated tool for you to use when you want to estimate what your EMI would be before you can opt for a personal loan from YES Bank. This calculator will allow you to know how much fixed EMI you would pay for the tenure that has been provided.
It can also be used to make a decision on whether this loan and the specific bank are the right choices for you. If the EMI amount is either too high or too low, you can adjust the tenures and the values in order to find EMI amounts that will mostly suit your financial stand in the market.
Using the YES Bank is simple and easy; anyone can use it by following the steps that have been mentioned below:
Step 1: Enter the principal amount.
Step 2: Provide the tenure of the loan.
Step 3: Lastly, enter the interest rate that is provided by YES Bank.
Step 4: Now, the EMI amount will be instantly displayed to you.
The YES Bank personal loan calculator utilizes a formula that provides you with the most accurate results - and the formula is:
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
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 |
The YES Bank personal loan calculator can help you in various ways, and one of the most major ways that the YES Bank personal loan calculator can be helpful to you is that it will allow you to estimate the amount of EMI that you will have to pay over the personal loan even before you can avail the personal loan from the bank.
The YES Bank personal loan calculator will let you compare different values and make sure you choose the most suitable EMI option.
Moreover, the YES Bank personal loan calculator is free of cost, and you can use it anytime and from anywhere to seek assistance on decisions of taking a personal loan from YES Bank.
You can use the calculator as a source to also identify the interest amount that you will be paying over the personal loan.
There are several benefits to using the YES Bank personal loan calculator, and some of the major benefits from using it are: