1. What is the YONO SBI Personal Loan EMI Calculator?

The YONO SBI Personal Loan EMI Calculator helps you estimate your monthly payments (EMI) for personal loans through SBI's YONO app. It uses the standard EMI formula with interest rates starting at 10.49% p.a.

2. How Does the Calculator Work?

The calculator uses the standard EMI formula:

Where:

• \( P \) — Principal loan amount (INR)
• \( r \) — Monthly interest rate (annual rate divided by 12 and converted to decimal)
• \( n \) — Loan term in months
• \( PMT \) — Monthly EMI payment (INR)

Explanation: The formula accounts for both principal and interest components of your loan payment, with more interest paid in initial EMIs.

3. Importance of EMI Calculation

Details: Calculating your EMI beforehand helps with financial planning, ensuring the loan is affordable and fits within your monthly budget.

4. Using the Calculator

Tips: Enter principal amount in INR, annual interest rate (starting at 10.49% for SBI YONO loans), and loan term in months (up to 60 months). All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the minimum interest rate for SBI YONO personal loans?
A: The current starting rate is 10.49% p.a., but your actual rate may vary based on credit profile.

Q2: What is the maximum loan tenure available?
A: SBI typically offers personal loans for up to 5 years (60 months) through YONO.

Q3: Are there any processing fees?
A: SBI charges up to 1% of the loan amount as processing fee plus applicable GST.

Q4: Can I prepay the loan?
A: Yes, SBI allows prepayment after 12 EMIs with 0-3% prepayment charges depending on loan type.

Q5: How accurate is this calculator?
A: This provides an estimate. Your actual EMI may vary slightly due to rounding or specific bank policies.