Urban Money

Yes Bank Home Loan Calculator

  • 5 Lac
  • 20 Cr
Years
  • 5
  • 30
%
  • 6
  • 20

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

Yes Bank Home Loan Calculator is an online AI tool which helps you in easy accessibility of monthly repayment of loan amounts. The Yes Bank Home Loan Calculator calculates the EMI, makes a thorough calculation and generates a rebate plan for the loan. The Yes Bank offers interest rates from 8.95%-11.80% to a tenure of 35 years from INR 10 Lakhs up to INR 10 Crores. The bank provides leniency in choosing the loan plan that suits your pocket so you can plan your journey against residential or commercial properties.

The piece pertains to the Yes Bank Home Loan EMI Calculator, its benefits, features, amortization schedules, surcharges etc.

What are Yes Bank Home Loans EMI Calculator Key Features and Benefits?

The key features and benefits of Yes Bank Home Loan EMI Calculator are to calculate repayment schedules and plan monthly expenses. Here are some features and benefits of efficiently using the Yes Bank Home Loan Calculator.

  • Comparison with other calculators

It provides a table where you can easily compare the interest rates provided by various banks. You can even choose from the array of offers running at the time of loan request by the bank to get the best deal in the Home Loan segment.

  • Calculation of EMI against various tenures

The Yes Bank Home Loan Calculator provides a wide array to work with by putting distinct loan amounts and tenure so that you opt for the one that suits your pocket the best.

  • Easy Accessibility

Calculating the EMI amount you have to repay monthly has become too easy to provide your home-like comfort. You have to put up the credentials that suit you and go for a plan that suits you best. The user interface is user-friendly, and even first-time users find themselves comfortable. 

  • Remuneration Schedule

The Yes Bank Home Loans Calculator helps divide the EMI amount into principal repayment and interest and calculate it for distinct tenures in which the loan is approved.

How Yes Bank Home Loan Calculator Works & Formula?

The formula in Yes Bank to calculate Home Loans works based on the monthly reduced balance method. To calculate EMI, you convert the loan repayment tenure into months and the annual interest rate into the monthly interest rate. Yes Bank charges their consumers a minimum interest rate of 8.95%. You can calculate the EMI value by using this formula:

EMI= [P x R x (1+R)^N]/[(1+R)^N-1]

where, 

  • P is the Principal amount or the total loan amount,
  • R is the interest rate, 
  • N is the period in months.

How does EMI calculation help in planning the home purchase?

EMI calculation gives you an approximate break up of the amount. If you’re willing to buy a house, it’s an investment, and it’s always good to plan your expenses so that if any emergency happens in the coming future, you’ll have everything under control. The EMI Calculator can help you understand the charges attached, like the total interest you have to repay, any surcharges and fees, stamp duty etc.

Factors Affecting Yes Bank Bank Home Loan EMI

Here are a few factors which affect Yes Bank Home Loan Interest Rates:

  • MCLR Rate

It means the Marginal Cost of Funds based on the Lending Rate. It is the minimum interest rate at which a bank offers the loan and depends on other factors such as CRR (Cash Reserve Ratio), Marginal Cost of Funds, Operating Cost, and Tenor premium. Banks decide a date every year to reset it as per that period’s current rate of which borrowers have taken up loans which means it is variable and can go up & down depending on the market demand.

  • Tenure

If the loan repayment period is shorter, it attracts a lower interest rate even if the EMI amount is high. But if the repayment period is more, it attracts a high rate of interest which in turn lessens the EMI amount. 

  • Various Interest Rates

A bank or Non-Banking Financial Companies (NBFC) offers 3 types of interest rates. These include Floating, Fixed, and Mixed Rates (fixed + floating). RBI controls the floating interest rate that varies according to the country's economy. They can even lower the interest rate, which in turn decreases the EMI amount, and vice versa can happen as well. Fixed rates remain constant throughout the tenure, which means a sustained EMI amount during the repayment period. A mixed rate includes both of the abovementioned rates, i.e., for a specific period, the fixed interest rate works over the principal amount to decide the EMI value. Then, the floating interest rate works over the loan amount, thus, changing the EMI value.

  • Employee’s Job Role

If you work in a reputed organization, banks consider your profile as someone with a stable income, thus, enabling you to acquire home loans at a very minimal interest rate. You can be a salaried employee, a Government employee, part of PSU or self-employed like doctors and CAs.

  • LTV / Loan-to-Value Ratio

It refers to the value of property financed by the loan amount. If the value is high, it attracts a higher interest rate increasing credit liability and vice versa. If you make an initial down payment, it will help you bring down the interest rate applicable over the loan amount, helping you spend within a limit which doesn’t hurt your monthly budget.

  • CIBIL Score

It is one of the crucial factors which impact the interest rate on a large scale. It shows an applicant’s past repayment behaviour, creditworthiness, and habits which affect their financial health. If it is below the mark of 600-650, banks consider those candidates as defaulters, thus, increasing the lending interest rate at which banks issue the loan. But, if the score is above that, charm works your way and banks issue loans at an even lower interest rate. In the case of Yes Bank, they look for a CIBIL Score equal to 750 or above as a customer who’ll get a loan smoothly.

  • Property’s Location

This factor helps in deciding the interest rate against the loan amount. If a property is based in a posh locality and has a decent resale value, then banks issue loans at lower interest. But if a property is in a nominal locality and doesn’t have good resale value, then banks issue loans at a higher interest rate. Similar is the case with new and old properties, where new properties attract lower interest rates and old properties attract higher interest rates.

Yes Bank Bank Home Loan Amortization Schedule

The table below contains the amortization schedule for a loan amount of INR 25 lakhs at an interest rate of 8.95% for 10 years.

Initial Balance Interest Amount Principal Amount Final Balance
INR 2,500,000.00 INR 217,211.42 INR 162,004.54 INR 2,337,995.41
INR 2,337,995.41 INR 202,102.18 INR 177,113.78 INR 2,160,881.60
INR 2,160,881.60 INR 185,583.81 INR 193,632.15 INR 1,967,249.41
INR 1,967,249.41 INR 167,524.87 INR 211,691.09 INR 1,755,558.27
INR 1,755,558.27 INR 147,781.66 INR 231,434.30 INR 1,524,123.93
INR 1,524,123.93 INR 126,197.11 INR 253,018.85 INR 1,271,105.05
INR 1,271,105.05 INR 102,599.54 INR 276,616.42 INR 994,488.57
INR 994,488.57 INR 76,801.12 INR 302,414.84 INR 692,073.68
INR 692,073.68 INR 48,596.64 INR 330,619.32 INR 361,454.32
INR 361,454.32 INR 17,761.68 INR 361,454.28 INR 0.00

Yes Bank Home Loan EMI for ₹10 Lakh

The table below contains the EMI amount for INR 10 lakhs in a range of 3 different tenures.

Loan Value Tenure (years)
10 15 25
INR 10 lakhs INR 12,641 INR 10,113 INR 8,358

Yes Bank Home Loan EMI for ₹20 Lakh

The table below contains the EMI amount for INR 20 lakhs in a range of 3 different tenures.

Loan Value Tenure (years)
10 15 25
INR 20 lakhs INR 25,281 INR 20,226 INR 16,716

Yes Bank Home Loan EMI for ₹25 Lakh

The table below contains the EMI amount for INR 25 lakhs in a range of 3 different tenures.

Loan Value Tenure (years)
10 15 25
INR 25 lakhs INR 31,602 INR 25,283 INR 20,895

Yes Bank Home Loan EMI for ₹30 Lakh

The table below contains the EMI amount for INR 30 lakhs in a range of 3 different tenures.

Loan Value Tenure (years)
10 15 25
INR 30 lakhs INR 37,922 INR 30,339 INR 25,073

Yes Bank Home Loan EMI for ₹50 Lakh

The table below contains the EMI amount for INR 50 lakhs in a range of 3 different tenures.

Loan Value Tenure (years)
10 15 25
INR 50 lakhs INR 63,203 INR 50,565 INR 41,789

Comparison of Yes Bank Bank Home Loan EMI with other Banks

The table below shows the comparison between the Yes Bank Housing Loan interest rates, which starts from 8.95%, with other Banks/NBFCs according to the different loan amount.

BANKS/NBFCs = 30 Lakh > 30 Lakh & = 75 Lakh > 75 Lakh
HDFC 6.70%-8.45% 6.70%-8.60% 6.70%-8.70%
IDFC First Bank Starts from 6.90% Starts from 6.90% Starts from 6.90%
Axis Bank 6.75%-11.50% 6.75%-11.50% 6.75%-11.50%
L&T Housing Finance 6.75%– 7.75% 6.75% – 7.75% 6.75%– 7.75%
Kotak Mahindra Bank Starts from 6.55% Starts from 6.55% Starts from 6.55%
PNB Housing Finance 6.99%-12% 6.99%-12% 7.15%-12%
Union Bank of India 6.40%-7.60% 6.40%-7.65% 6.40%-7.65%
ICICI Bank 6.70%-7.55% 6.70%-7.55% 6.70%-7.55%
LIC Housing Finance 6.75%– 7.85% 6.70%– 8.05% 6.70 %– 8.05%
Bank of Baroda 6.50%-8% 6.50%-8% 6.50%-8.25%

Frequently Asked Questions (FAQs)

How can I pay my Yes Bank housing loan EMI online?

You can visit the official website of Yes Bank and go to the section on online loan payments. They have provided 4 different repayment options are; UPI, cheque or cash, and net banking. You can choose the mode of payment which suits you best.

What happens if Yes Bank home loan EMI is missed?

If you miss the EMI deadline for Yes Bank, you may have to pay 1%-2% of the due amount.

Can I change my housing loan EMI date for Yes Bank?

Changing the housing loan EMI date for Yes Bank lies at the lender’s discretion. If they allow it, you need to inform them by visiting the nearest bank branch, contacting customer care, submitting an application form for the same or requesting the branch manager, whichever suits you best.

What is the rate of interest on a housing loan in Yes Bank?

Yes Bank offers a variety of Home Loans depending on the candidate’s profile and offers interest rates starting from 8.95% and going up to 11.80%.

What is the Yes Bank home loan processing fee?

Yes Bank has a home loan processing fee which is a minimum of 1.5% processing fee or INR 10,000 plus GST (whichever is higher).

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

Knowing the EMI beforehand only lands the ball in your court, i.e., you can plan the repayment schedule to reduce payments of interest amount and even can free yourself by ending the payment schedule before. You will also be able to plan your future expenses accordingly.