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Union Bank of India Home Loan EMI Calculator

The Union Bank of India Home Loan EMI Calculator is an easy-to-use tool that gives you an estimate of your repayment amount. This also helps you find out the repayment tenure that suits your budget.

Your Home Loan EMI

₹ 6,199

Total Interest Amount

₹ 243,914

Principal Amount

₹ 5,00,000

Total Payable Amount

₹ 7,43,914

Loan Amount

Interest Rate

- +

Tenure

- +

Calculate Now

You can also make instant comparisons between loan offers from multiple Home Loan providers on Bajaj Markets.

How to Use the Union Bank of India Loan EMI Calculator

To use the Union Bank of India Home Loan EMI calculator, you need to have a few details ready:

Loan amount
Preferred repayment tenure
Expected interest rate

Once you enter these in the respective fields, the calculator will generate your EMI instantly. This gives you a quick estimate of your monthly repayment.

You can also view the amortisation schedule, which provides a detailed breakup of your payments over the entire tenure. This can help you plan ahead and manage your finances more effectively.

How Union Bank of India Loan EMI is Calculated

The Union Bank of India home loan EMI is calculated using a standard mathematical formula. It factors in the principal loan amount, the monthly interest rate, and the total number of instalments or tenure in months. The formula is expressed as:

EMI = [P × r × (1 + r)^n] / [(1 + r)^n – 1]

Here,

P represents the principal loan amount
r is the monthly interest rate (derived by dividing the annual rate by 12 and then by 100)
n is the repayment tenure in months

For instance, you take a housing loan of ₹15 Lakhs at an annual interest rate of 7.5% p.a. for 15 years. Your monthly EMI will be approximately ₹13,905, with a total interest payable of ₹10,02,933, and a total repayment amount of ₹25,02,933 at the end of the tenure.

This formula-based approach provides accurate results and offers a clear understanding of your repayment obligations over the loan tenure. By knowing the principal, interest rate, and tenure, you can effectively estimate your monthly outflow and plan your finances.

Benefits of Using the Union Bank of India Loan EMI Calculator

Simple and User-Friendly

Enter the loan amount, interest rate, and tenure to calculate your EMI. The tool is straightforward and requires no technical expertise

Quick and Time-Efficient

The calculator generates results within seconds, saving you the effort of lengthy manual calculations.

Precise and Reliable Estimates

It provides accurate EMI values, reducing errors common with manual methods and supporting informed financial decisions.

Flexible Loan Simulations

Test different combinations of loan amount, tenure, and interest rate to see their impact on your EMI, helping you select a plan that fits your budget

Union Bank Home Loan EMI Amount Calculation Example at Different Tenures

You can acquire a Union Bank of India home loan and repay the same over a tenure of up to 30 years. Your EMI obligations at different tenures with an interest rate of 7% p.a. would look like this:

Principal Home Loan Amount	10-year Tenure (120 Months)	20-year Tenure (240 Months)	30-year Tenure (360 Months)
₹20 Lakhs	₹23,222	₹15,506	₹13,306
₹30 Lakhs	₹34,833	₹23,259	₹19,959
₹50 Lakhs	₹58,054	₹38,765	₹33,265
₹75 Lakhs	₹87,081	₹58,147	₹49,898
₹1 Crore	₹1,16,108	₹77,530	₹66,530

Disclaimer: The above EMIs are calculated with the calculator available on Bajaj Markets. Actual figures may vary depending on the loan terms.

Union Bank of India Home Loan Eligibility Criteria

To determine your housing loan eligibility with Union Bank of India, you need to meet a few basic requirements set by the bank. These criteria ensure you qualify for financing and can manage repayments smoothly.

Nationality: Indian citizens or NRIs
Age: 18 to 75 years at the time of loan maturity
Application Type: Single or joint with eligible co-applicants

Disclaimer

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort. The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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Frequently Asked Questions

Union Bank of India Home Loan EMI Calculator

What is the best way to calculate EMI for a Union Bank of India Home Loan?

You can calculate the Union Bank of India home loan EMIs using the Union Bank of India home loan EMI calculator. It provides instant and accurate results, ensuring that your decision suits your current budget while safeguarding your long-term financial well-being.

How does the Union Bank of India home loan EMI calculator help with planning my home purchase?

The Union Bank of India home loan EMI calculator estimates repayments across different loan amounts and tenures. It is free to use, so you can try multiple combinations to find manageable EMIs. This helps you identify the most affordable loan option without straining your monthly finances.

How can part-prepayments impact my Union Bank of India home loan EMI amount?

By making part-prepayments, you reduce your outstanding principal. This can either lower your EMI or shorten the repayment period. In both cases, you save significantly on interest, reducing your overall repayment burden while achieving faster loan clearance.

Can I get my Union Bank of India home loan EMI amount reduced?

Yes, you can lower your EMI by extending the repayment tenure, making a higher down payment, or opting for a smaller loan. A good CIBIL score may also help you negotiate a lower interest rate with your lender.

Why should I calculate my Union Bank of India home loan EMI in advance before taking a loan?

Calculating EMIs in advance helps you check affordability and avoid financial stress. It shows the maximum loan amount you can comfortably repay, lowers the risk of default, and safeguards your credit score for future borrowing needs.

What are the typical Union Bank of India home loan interest rates?

Union Bank of India provides two interest rate options: (a) fixed interest rate and (b) floating interest rate. The interest rates usually range between 7.35% and 9.75% per annum and depend on factors like your profile, loan type, and eligibility.

Do EMIs change if interest rates are floating?

Yes, EMIs may change under floating interest rates. If the rate increases, your EMI generally rises, and if the rate decreases, your EMI reduces. This makes repayment flexible but dependent on market conditions.

Does the Union Bank of India Home Loan EMI Calculator include processing fees?

No. The EMI calculator only considers the loan amount, applicable interest rate, and tenure. Processing fees and other charges are not factored into the calculation.

Can I calculate EMI for different loan tenures using the Union Bank of India Home Loan EMI calculator?

Yes. You can adjust the loan tenure in the calculator to instantly see how your EMI changes with shorter or longer repayment periods.

Can I use the Union Bank of India Home Loan EMI calculator for top-up or balance transfer loans?

Yes. You can use the EMI calculator for top-up and balance transfer loans by entering the new loan amount, interest rate, and tenure. It helps estimate revised EMIs and plan repayments more effectively.

How does changing the interest rate affect my Union Bank of India Home Loan EMI?

Even small rate changes affect EMIs significantly. A higher rate increases your monthly outflow, while a lower rate reduces it. This is why monitoring interest rate movements is key to better budgeting and financial planning.

Can I calculate EMI for a pre-approved Union Bank of India Home Loan?

Yes. Just enter your pre-approved loan amount, offered interest rate, and tenure into the EMI calculator. It gives you a clear estimate of monthly instalments, helping you plan before securing the loan.

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Union Bank of India Home Loan EMI Calculator

₹ 243,914

₹ 5,00,000

₹ 7,43,914

How to Use the Union Bank of India Loan EMI Calculator

How Union Bank of India Loan EMI is Calculated