Compare & Choose from the Best Personal Loan OffersYes Bank Personal Loan EMI Calculator will help you to find out your Personal Loan EMI and interest cost based on your loan amount, tenure and interest rate. It will help you to choose your loan amount and loan tenure based on your repayment capacity.
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Personal Loan at Attractive Interest Rates Apply Now
Personal Loan Interest Rate Comparison of different Banks
| Banks/NBFCs | Interest Rates(p.a.) | |
| HDFC Bank | 11.00% p.a. onwards | Apply Now |
| Axis Bank | 10.25% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| ICICI Bank | 10.50% onwards | Apply Now |
| Bajaj Finserv | 13.00% onwards | Apply Now |
YES Bank Personal Loan EMI Calculation
YES Bank uses the reducing balance method to calculate the EMI payable on its personal loans. The given table depicts various possible EMIs with different combinations of loan amount, tenure and interest rate.
| Loan Amount (Rs.) | Interest Rate (p.a.) | Tenure (months) | EMI (Rs./month) |
| 1 lakh | 15% | 12 | 9,026 |
| 2 lakh | 17% | 24 | 9,888 |
| 3 lakh | 13% | 36 | 10,108 |
| 4 lakh | 18% | 48 | 11,750 |
| 5 lakh | 20% | 60 | 13,247 |
Charges Levied on Non Payment of EMI
Some key charges that may be levied in case YES Bank personal loan EMI payments are not made on time are given below:
| Particulars | Charges |
| Late Payment Charges | 24% p.a. on amount outstanding from date of default |
| Cheque Bounce Charges | Rs. 750 per cheque bounce plus taxes |
Factors Affecting YES Bank Personal Loan EMI
Following are the key factors which affect YES Bank personal loan EMI:
- Loan Amount: It is the principal amount that you borrow from the lender. Generally, as the loan amount increases, the EMI payout also increases (if interest rate and tenure are kept constant).
- Interest Rate: It is the rate at which interest is charged on the loan amount. Generally, a higher rate of interest results in higher EMI payouts and vice versa.
- Loan Tenure: It is the period of time over which you can repay the loan. Normally a longer tenure leads to lower EMI payouts. However, it leads to an increase in the total interest payout of the loan.
- Interest Calculation Method: The interest calculation method used by the lender also affects the EMI payout of your personal loan. EMIs calculated using the reducing balance method are slightly lower as compared to those calculated using the flat rate method and can help you save significantly on the interest component.
FAQs
Q1. Which method of interest calculation does YES Bank use?
YES Bank uses the reducing balance method to calculate the interest payable on its personal loans.
Q2. Does personal loan EMI calculator include the GST component in its results?
No. Currently, the EMI calculator does not take into account the GST component when calculating the EMI payable on a personal loan.
Q3. Are prepayment charges shown by the EMI calculator?
No, the prepayment charges are not taken into account by the personal loan EMI calculator while making the EMI calculation. However, you can check the prepayment charges in the loan agreement provided by the lender.
Q4. What is the maximum and minimum tenure for YES Bank personal loan for EMI calculation?
The maximum tenure is 60 months and the minimum is 12 months.