Union Bank of India Home Loan EMI Calculator

You are Eligible for EMI Amount
56,409
Principal Amount
6,500,000
Interest Amount
7,038,042
Why Suganta for Home Loan?
  • Offers from 34+ Banks
  • Lowest Interest Rate
  • Highest Loan Value
₹8,000,000
8.5%
20 p.a

You are Eligible for EMI Amount

₹69,426
Principal Amount
₹8,000,000
Interest Amount
₹8,662,206
Why Suganta for Home Loan?
  • Offers from 34+ Banks
  • Lowest Interest Rate
  • Highest Loan Value

Need a more accurate EMI estimate?

Your Repayment Details

Month Beginning Loan Balance EMI Principal Monthly Interest Outstanding Balances
January 650000 5620 1043 4577 648957
February 648957 5620 1051 4570 647906
March 647906 5620 1058 4562 646848
April 646848 5620 1065 4555 645783
May 645783 5620 1073 4547 644710
June 644710 5620 1080 4540 643629
July 643629 5620 1088 4532 642541
August 642541 5620 1096 4525 641446
September 641446 5620 1103 4517 640342
October 640342 5620 1111 4509 639231
November 639231 5620 1119 4501 638112
December 638112 5620 1127 4493 636985
Month Beginning Loan Balance EMI Principal Monthly Interest Outstanding Balances
January 6525000 5620 1654773 4452 648957
February 648957 5620 1051 46540 647906
March 647906 5620 1058 4656 646848
April 646848 5620 15555 4555 645783
May 645783 56550 1073 4547 644710
June 644710 5620 10330 4540 643629
July 643629 563430 1088 4532 642541
August 642541 5620 1046 4525 641446
September 6341446 5620 1103 4517 640342
October 644342 5620 1111 4509 639231
November 639231 5620 1119 4501 638112
December 638112 5620 1127 4493 636985

Union Bank of India Home Loan EMI Calculator

The Union Bank of India Home Loan Calculator is a valuable tool designed to help prospective homeowners estimate their monthly EMIs with ease and accuracy. By simply entering details like loan amount, tenure, and interest rate, users receive an instant breakdown of monthly payments, allowing for better financial planning. This EMI calculator simplifies decision-making, offering transparency on loan costs and helping users find a repayment plan that fits their budget. Whether you’re looking to buy a new home or refinance, Union Bank’s EMI Calculator is essential for a well-informed loan experience.

Benefits of Union Bank of India Home Loan EMI Calculator

  • Accurate EMI Estimation: Provides precise monthly installment calculations based on loan amount, interest rate, and tenure, aiding in effective financial planning.
  • Time Efficiency: Eliminates the need for manual computations, delivering instant results and saving valuable time.
  • Customized Financial Planning: Allows users to adjust variables to explore different loan scenarios, helping identify the most suitable repayment plan.
  • Amortization Insights: Offers a detailed breakdown of principal and interest components over the loan tenure, enhancing understanding of the repayment structure.
  • Informed Decision-Making: Empowers borrowers to make well-informed choices by providing a clear view of financial commitments associated with various loan options.

How to Calculate Home Loan EMI

Calculating your home loan EMI doesn’t have to be stressful. SuGanta.com offers a free, easy-to-use EMI Calculator to help prospective borrowers understand their monthly payments instantly. Simply input your loan amount, interest rate, and loan tenure, and the SuGanta EMI Calculator will provide an accurate breakdown of your future EMI payments. This tool not only saves time but also allows you to explore various loan schemes, enabling you to make informed financial decisions for your home financing needs. Use SuGanta.com’s EMI Calculator today to simplify your home loan planning.

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How To Use SuGanta Home Loan EMI Calculator

Calculating your home loan EMI is straightforward with SuGanta's Home Loan EMI Calculator. Follow these steps:

  1. Access the Calculator: Visit the SuGanta Home Loan EMI Calculator.
  2. Enter Loan Amount: Input the desired loan amount you plan to borrow.
  3. Specify Loan Tenure: Select the loan tenure in years.
  4. Input Interest Rate: Enter the applicable interest for the loan.
  5. Calculate EMI: Click on the "Calculate Your EMI" button to view your monthly installment.

Home Loan EMI Calculation Formula

If you want to cross-check the EMI amount, use the following standardized formula:

E = Pr (1 + r)n / ((1 + r)n - 1)

Here,
P = Principal or Loan amount
E = applicable future EMI
r = Interest rate applicable
n = Number of EMIs or applicable tenure

For example, if a borrower avails a loan of 30 lakh for a 15-year tenure at a 7% p.a. rate of interest, the applicable EMI will be –

E = 30,00,000 × 0.005833(1 + 0.005833)180 / ((1 + 0.005833)180 - 1)
E = Rs 26,965 per month.

Home Loan Amortization Schedule for Union Bank of India

Here’s the updated amortization schedule in table format for Union Bank of India Home Loan with an assumed interest rate of 7.5% p.a.:

Loan Amount (Rs) 15 years EMI 20 years EMI 30 years EMI
2,500,000 Rs. 23,175 Rs. 20,140 Rs. 17,480
5,000,000 Rs. 46,351 Rs. 40,280 Rs. 34,961
7,500,000 Rs. 69,526 Rs. 60,419 Rs. 52,441
10,000,000 Rs. 92,701 Rs. 80,559 Rs. 69,921

Union Bank of India's home loan options provide flexible repayment schedules with affordable EMIs, making homeownership achievable. The EMI calculator aids in budgeting, helping borrowers choose the ideal loan tenure.

 

Home Loan FAQs

+
EMI stands for Equated Monthly Installment. It's the amount you pay each month to repay your home loan, which includes a part of the principal amount and the interest.
+
Home loan EMI is calculated using the formula: EMI = P * r * (1+r)^n / ((1+r)^n - 1), where P is the principal amount, r is the monthly interest rate, and n is the total number of months.
+
The main factors that affect your home loan EMI are the loan amount, interest rate, and loan tenure. A higher loan amount or interest rate will increase your EMI, while a longer tenure will decrease it.
+
Yes, most lenders allow prepayment of home loans. However, there might be certain terms and conditions, including prepayment charges. It's best to check with your lender for specific details.

Contact Us

Have any queries? We’d love to hear from you.

📞 Call us: +91 782 769 4613

✉️ Mail us: homeloan@suganta.com