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    Yes Bank Personal Loan EMI Calculator

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    12.25% - 17.49% Fixed
    Up to 2% One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
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    Personal Loan BYTES FROM OUR KITCHEN

    Overview about Yes Bank Personal Loan Calculator

    Yes Bank is the country’s fastest growing bank which believes in providing trustworthy and efficient banking services. Headquartered in Mumbai, Yes Bank has over 900 branches. The bank offers services such as personal loan, home loan, car loan, commercial vehicle loan, etc. Yes Bank provides personal loan of amounts between Rs.1 lakh to Rs.20 lakh. With flexible repayment options, you can avail a personal loan without any collateral or guarantor. Minimal documentation and hassle-free process makes it preferable for most customers.

    Understanding Your Personal Loan Repayment

    When you take a personal loan from Yes Bank, you can repay it in Equated Monthly Installments (EMIs). The monthly EMI comprises of the principal amount and the interest charges as per the bank. You should know the exact EMI amount that you will be required to pay each month, as well as the breakup of that amount. As loan repayment is done over a period of time, knowing this amount is important for your financial planning.

    Sometimes, the EMI amount also includes the processing fees towards the loan. Calculation of your loan EMI manually is a cumbersome process as you have to compute the ideal EMI amount that is suitable for you by trying various combinations for the chosen loan amount. You will either have to adjust the loan amount or the loan tenure if you want to reduce the EMI to the amount that is ideal for you.

    Personal Loan EMI Calculator by BankBazaar

    BankBazaar has a personal loan EMI calculator on its website which helps you calculate your loan EMI in seconds. It is a comprehensive tool that also gives a detailed breakup of charges towards the loan, apart from the installment amount. An amortisation table is used to generate instant output.

    To use the BankBazaar loan EMI calculator, you can follow 9 easy steps given below:

    • Visit the homepage of BankBazaar.
    • On the extreme right of the page, you will find a drop down menu.
    • Click on the menu and then on ‘Finance Tools’.
    • Under Finance Tools, select ‘EMI Calculator’ from the list.
    • Then, enter loan details such as loan amount, rate of interest, loan tenure, and processing fees if any.
    • Select the option between yes or no, for pre-payments.
    • Click on ‘Calculate’.
    • The page displays the EMI amount in seconds.
    • The website also presents a graphical display of other loan details including all its charges.

    How Does The Personal Loan EMI Calculator Work For The Calculation Of EMI Towards Yes Bank Personal Loan?

    The calculator requires basic details of the loan such as the principal amount, interest rate, loan tenure, etc. to calculate monthly installment.

    The online loan EMI calculator uses the following formula:

    E = P x R x (1+R)^n/[(1+R)^n-1]

    Where, E is the EMI

    P is the amount to be borrowed

    R is the interest rate on a monthly basis

    n is the loan tenure in months

    Processing fee is also included in the calculation sometimes depending on the bank.

    Features and Benefits of Yes Bank Personal Loan EMI Calculator

    The personal loan EMI calculator can be used to calculate the EMI that you will have to pay towards a personal loan from Yes Bank. The loan calculator has many benefits such as:

    Quick Calculation:

    Manual calculation of EMI towards personal loan can take a long time, whereas this online calculator takes a few seconds. It allows you the freedom to explore various tenure options, loan amounts and different interest rates offering, helping you choose the ideal combination for a suitable EMI that fits your budget.

    Accurate Calculation:

    Manual calculation always carries a risk of errors every time you vary the amount to be borrowed, or interest rate, or loan tenure. When there is a comparison between banks, the chance of mistakes, further increases. The calculator on the other hand is accurate and free of such errors, no matter how many times the data is varied.

    Convenience:

    The calculator is found online and is very easy to use. Using this tool, you can decide the best loan for yourself in seconds. EMI calculation is the most important criteria in selecting a personal loan and this loan EMI calculator does the job with ease.

    Graphic Representation of Loan Details:

    The personal loan EMI calculator also displays the monthly payment and charges in a graphic form such as a pie diagram. The diagram displays the total amount that would be repaid towards the loan when the entire loan is complete.

    Use of Amortisation Table:

    Amortisation table is used in the calculation of EMI as it helps in knowing the loan’s progress with time. The table determines how much loan amount you have repaid each year, in terms of principal and interest.

    Yes Bank Personal Loan EMI Calculator FAQs

    1. Is the Personal Loan EMI Calculator easier to use than excel sheets?

      Yes, the personal loan EMI calculator is easier to use than excel sheets as the latter requires you to program the calculator before using it, whereas the online calculator already has an inbuilt formula.

    2. Can I use the same loan EMI calculator to calculate EMIs for personal loans from other banks?

      Yes, this is a universal loan EMI calculator and can be applied to any bank, provided you change the details of the loan, accordingly.

    3. How different are loan calculators on the bank’s website from BankBazaar’s personal loan EMI calculator?

      The loan EMI calculators are not so different from the one on BankBazaar, however the latter provides a detailed analysis of your personal loan and helps you understand your repayment better.

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