Yes Bank of India Home Loan EMI Calculator

 

Introduction

 

Yes Bank of India is a private sector bank in India. Among other provided loans, housing loans always stand unique since this loan helps their customers get a roof over their heads. To provide accurate results, Yes Bank of India offers various tenure periods for customers to choose from based on their convenience.

Yes Bank of India Home Loan Calculator is available online for the customers to use for free.  Details about housing loans and other information are provided below.

What is Home Loan EMI?

 

In general, EMI is the monthly installment/repayment that is paid for a product bought by an individual. In loan terms, EMI means the interest paid along with the principal amount that the customer buys as a loan. 

In Housing Loans, this EMI has to be paid by the customer once they buy or build a house. This EMI amount is determined by the tenure period, the loan amount which is sanctioned to the individual, and other tax deductions. 

The longer the tenure period is, the lower the EMI will be. Preferably, this option is considered by many individuals because they want to have a dream house for themselves. But, buying a home loan is a good option for people who live in a rental. Because they can get a house of their own on the same amount that they pay towards their rent. Yes Bank of India Home Loan EMI Calculator is available online for free for the customers to use. 

 

येस बैंक इंटरेस्ट रटेस फ़ॉर होम लोन

 

• The customer can pay EMIs every month. The interest rate starts as low as Rs.836/- for Rs. 1 Lakh. This interest amount is one of the lowest amounts provided among all other banks and financial institutions.
• Before taking a housing loan, it is better to check with the loan provider regarding the housing loan’s interest rate type. There are two types of rates for EMIs in various banks – fixed and floating. The customer has to pay a fixed EMI amount throughout the policy tenure period at a fixed interest rate.
• But, if the interest is subjected to a floating rate, then the customer has to provide various interest amounts throughout the policy tenure. Floating interest states that the interest amount either goes up or comes down each year. 
• Yes Bank of India provides a fixed EMI rate for its customers, and thus, they don’t have to worry about the changes that might happen in floating interest policies. 

 

What is Yes Bank of India Home Loan EMI Calculator?

 

Yes Bank of India Home Loan EMI Calculator is available online for free for the customer to use. In addition, this online calculator is available on the official website of Yes Bank under the loan sections. The primary role of Yes Bank of India Home Loan EMI Calculator is to calculate the EMI for a particular amount that will be provided to the customer as a housing loan for a particular tenure period.

Before taking a housing loan, the customer must know about the loan’s policy, terms, and conditions to avoid further confusion or troubles during their loan repayment period. Yes Bank of India Home Loan EMI Calculator provides the customer with all necessary details and other information about the policy, such as how much EMI has to be paid for a particular tenure period.    

Yes Bank of India Home Loan Calculator is available online for free, and thus, the customer can use it from anywhere and at any time.                                                              

How to check your Home Loan EMI with the Calculator?

 

The process to use Yes Bank of India Home Loan Calculator is easy and simple. Home Loan EMI Calculator is available on the official page of the Yes Bank of India’s website. The customers can easily use it to know their EMI amount that has to be paid by the customer per month.

The steps to check the EMI with Yes Bank of India Home Loan Calculator is listed below:

• Go to the official website of Yes Bank online.
• Under the Main Menu, choose the housing loan option for getting redirected to another portal.
• On the following portal, a detail about the housing loan is provided. 
• On the top bar, click on the “Home Loan Calculator” option.
• The Home Loan EMI Calculator will be opened on the Home page.
• Then, the customer has to enter “Required Loan Amount,” “Loan Tenure,” and “Email ID.”
• Finally, the customer has to click on “Calculate EMI.”
• After this, the customer has to provide their “Mobile Number” and “OTP.”
• Finally, the EMI for the Home Loan will be provided. 

If the customer is satisfied with the EMI amount, they can proceed with the loan processing. Thus, they have to click on “Apply Now” and continue with the loan. On the other hand, if the customer is not satisfied with the EMI and is willing to change their policy tenure period or EMI amount, they can click on “Re-Calculate” and start the calculating procedure from the beginning. 

How does Yes Bank of India Home Loan EMI Calculator help?

 

Yes Bank of India Home Loan EMI Calculator is available online for free. There are various benefits to using the EMI Calculator. Some benefits of using Yes Bank of India Home Loan EMI Calculator are listed below:

• EMI for different tenure
• Compare between EMIs
• Finalizing the Loan
• Cost Effective

 

 

• EMI for different Tenure:

 

By using Yes Bank of India Home Loan EMI Calculator is available for free. Thus, the customer can easily use it repeatedly to get EMI results for various tenure periods. 

The higher the tenure is, the lower the monthly EMI will be. Thus, the customer can easily get their EMI for a particular loan amount. This will help the customer to have a clear idea of the EMI processing and avoids further trouble and confusion for the customer.

 

 

• Compare between EMIs:

 

Yes Bank of India Home Loan EMI Calculator can be used for free, and any other bank or financial institution’s loan can also be calculated using this online calculator. This calculator provides EMI for various tenures and at different interest percentages. 

Thus, the customer can get to know interests and EMI for various loan policies also. This will help the customer to compare various plans.

 

 

• Finalizing the Loan:

 

Since the Yes Bank of India Home Loan EMI Calculator provides EMIs for various tenure periods and interest percentages, the customer can easily compare various available plans and choose the best plan for themselves. Thus, this online calculator helps the customer to finalize the best plan for themselves.

 

 

• Cost Effective:

 

Yes Bank of India Home Loan EMI Calculator is available online for free. Thus, this helps the customer save the amount paid for traveling to the nearby branch office and time wasted for calculating the EMI manually at the office.

Using Yes Bank of India Home Loan EMI Calculator, the customer can conveniently use this from anywhere and at any time.

What is the Yes Bank of India Home Loan Amortization Schedule?

 

Home Loan Amortization helps the customer who buys a housing loan to reduce their housing loan debts. Loan Amortization is nothing but a regular payment of EMI. Since Yes Bank provides a fixed interest rate throughout the loan tenure, the EMI remains uniform, and the same amount will be taken from the customer’s account every month. 

Each month, this EMI amount gives apart from the amount towards the principal amount when the remaining goes towards interest deductions. But over the loan tenure, most of the EMIs that were paid initially will go mostly towards interest repayment, and later on, this amount goes towards principal loan amount replacement.

Yes Bank of India provides an Amortization Schedule to the customer and gives a detailed table for month-wise EMI calculations.  This schedule will help the customer understand the repayment amount and how the customer repays much interest and principal amount during a particular tenure period.

Yes Bank of India Home Loan EMI Calculator provides the interest rates and loan tenure for any principal amount. By using the online calculator, customers can easily find the principal amount and interest rates for a particular loan amount sanctioned to the customer.

Factors affecting Home Loan EMI

 

ऋण राशि – If the customer already has any loan with Yes Bank of India like personal loans, commercial loans, or venture capital loans, repaying the EMI for a housing loan will be difficult. Sometimes, if the borrower has a loan exceeding Rs.5 Lacs, getting a housing loan might be difficult because the housing loan will not get approved.

Loan Tenure – Loan Tenure period can be chosen by the customer. But, sometimes, if the customer needs the housing loan to approve with minimum eligibility, the customer can try by reducing the policy tenure period from 20 years to 10 years. But, the negative impact on this policy tenure reduction is that they have to pay double the interest rate that will be generally paid if the policy tenure is 20 to 30 years.

Interest Rate – The interest rate provided by Yes Bank of India Home Loan is generally Rs. 839/- for a loan amount of Rs. 1 Lac/-. This is one of the lowest interest rates provided among other banks and financial institutions. However, this interest rate may or may not get increased or decreased depending upon the job of the policyholder and other issues.

FAQ

 

• Can I get a housing loan with Yes Bank of India if I already have another loan in the same Bank?

 

To answer this question honestly, if a customer already had a loan with the Bank, it is pretty difficult for them to buy another loan that, too, a housing loan needs a lot more procedures to be taken care of.

But, it mostly depends upon the job and other details of the customer.

 

• What is the maximum tenure offered by Yes Bank of India?

 

The maximum tenure period can go from 30 to 35 years depending upon the customer’s age, job, and other information like their retirement period, retirement benefits, etc. Generally, the tenure period will be 20 to 25 years for a typical customer.

 

• Can I use Yes Bank of India Home Loan EMI Calculator for free?

 

Yes. The Yes Bank of India Home Loan EMI Calculator is available for free online. So the customer can use it free of cost.

 

• What is the Interest rate fixed for the Housing loan?

 

The interest is Rs. 839/- for a loan principal amount of Rs. 1 Lakh/-.

 

• What is a fixed EMI?

 

In Fixed EMI, the EMI will never change throughout the policy tenure period. However, the customer will have to pay some of the amount every month as an EMI.

 

• What is a floating EMI interest?

 

Floating EMI states to the EMI that either increases or decreases throughout the loan tenure. Thus, the customer will have to pay different interests every year.

 

• Is Yes Bank of India’s EMI fixed or floating?

 

Yes Bank of India provides fixed EMI for their customers. Thus, the borrower doesn’t have to worry about the increase of their EMI amount.

 

• Mention the percentage that is provided as a loan in Housing loan by Yes Bank of India?

 

Yes Bank of India provides 90% of the house/apartment rate as a loan. So the customer has to pay only 10% for their new apartment. The remaining will be taken care of by the Bank. Thus, the customer can get their new house and be happy without worrying about the excess amount that has to be paid to the builders for getting the apartment.

 

• How can I pay my monthly EMI after taking a housing loan?

 

The monthly EMI can be paid either manually or by providing account details of the borrower. 

 

•  Can I close the loan by paying a certain amount extra along with the EMI?

 

Yes. Any extra amount other than the EMI paid for a particular housing loan will go towards the principal amount, and the principal amount will be reduced.