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Union Bank of India Car Loan EMI Calculator Aug 2017

Last Updated 12th Aug 2017

Union Bank of India Car Loan EMI Calculator

Lowest EMI on Union Bank of India Car Loan - Rs. 1,609 per lakh

Loan Amount 2 Years 3 Years 5 Years 7 Years
Rs. 100,000 Rs. 4,568 Rs. 3,180 Rs. 2,076 Rs. 1,609
Rs. 300,000 Rs. 13,705 Rs. 9,540 Rs. 6,228 Rs. 4,827
Rs. 500,000 Rs. 22,842 Rs. 15,900 Rs. 10,379 Rs. 8,045
Rs. 1,000,000 Rs. 45,685 Rs. 31,800 Rs. 20,758 Rs. 16,089
Car Loan Calculator
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Factors affecting Union Bank of India Car Loan EMI

  • Borrower age should be between 18 years to maximum 65 years
  • Maximum car loan amount offered by Union Bank of India is up to 85.00% of on-road price
  • Interest rates starts @ 9.00% depending upon down payment, net income and other factors

Union Bank of India Car Loan EMI

  • Car Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to Union Bank of India against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With Union Bank of India offering car Loans with loan tenure upto 84 years, the loan EMI can be as low as Rs. 1 per lakh, to make it more affordable and convenient to meet your car needs. Rate of interest offered by Union Bank of India are as low as 9.00%.
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

Union Bank of India Car Loan Calculator Formula

Emi Calculator Formula

Here is an illustration of how Union Bank of India Car Loan EMI is calculated:
In above formula,
P = Loan amount. This should be 85.00% of on-road price
n = tenure in month. For Union Bank of India, this can be 84 months

Car Loan EMI Calculator Union Bank of India - How it works?

Union Bank of India Car loan calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.

  • Union Bank of India Car loan calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

Car Loan EMI – EMI changes in case of prepayment

In case you prepay your car loan, the outstanding balance on your car loan reduces. Union Bank of India gives you two options:

  • Reduce your loan tenure and keep your car EMI same
  • Reduce the amount of EMI and keep your loan tenure same

It is better to keep the EMI constant and reduce the loan tenure as you pay less interest to the Union Bank of India in this option.

Frequently Asked Questions on Union Bank of India EMI Calculator

What is the lowest EMI per lakh offered by Union Bank of India on Car loan?

Union Bank of India offers car loan at 9.00% interest rate and hence lowest EMI on per lakh loan amount is Rs. 1,609.

Can I prepay my Union Bank of India car loan?

Union Bank of India offers you an option of prepayment at Nil from own sources; 2% in case of loan takeover charges.

Union Bank of India Car Loan Customer Care Number, Email, Application Status, Branches

Union Bank of India Car Loan Calculator Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 1800-208-2244, customercare [at] unionbankofindia [dot] com
Ahmedabad 1800-208-2244, customercare [at] unionbankofindia [dot] com
Ambala 1800-208-2244, customercare [at] unionbankofindia [dot] com
Anand 1800-208-2244, customercare [at] unionbankofindia [dot] com
Aurangabad 1800-208-2244, customercare [at] unionbankofindia [dot] com
Bangalore 1800-208-2244, customercare [at] unionbankofindia [dot] com
Bhilai 1800-208-2244, customercare [at] unionbankofindia [dot] com
Bhilwara 1800-208-2244, customercare [at] unionbankofindia [dot] com
Bhiwadi 1800-208-2244, customercare [at] unionbankofindia [dot] com
Bhopal 1800-208-2244, customercare [at] unionbankofindia [dot] com
Bhubaneswar Cuttack 1800-208-2244, customercare [at] unionbankofindia [dot] com
Bikaner 1800-208-2244, customercare [at] unionbankofindia [dot] com
Chandigarh 1800-208-2244, customercare [at] unionbankofindia [dot] com
Chennai 1800-208-2244, customercare [at] unionbankofindia [dot] com
Cochin 1800-208-2244, customercare [at] unionbankofindia [dot] com
Coimbatore 1800-208-2244, customercare [at] unionbankofindia [dot] com
Dehradun 1800-208-2244, customercare [at] unionbankofindia [dot] com
Delhi 1800-208-2244, customercare [at] unionbankofindia [dot] com
Durg 1800-208-2244, customercare [at] unionbankofindia [dot] com
Faridabad 1800-208-2244, customercare [at] unionbankofindia [dot] com
Gandhinagar 1800-208-2244, customercare [at] unionbankofindia [dot] com
Ghaziabad 1800-208-2244, customercare [at] unionbankofindia [dot] com
Goa 1800-208-2244, customercare [at] unionbankofindia [dot] com
Greater Noida 1800-208-2244, customercare [at] unionbankofindia [dot] com
Gurgaon 1800-208-2244, customercare [at] unionbankofindia [dot] com
Guwahati 1800-208-2244, customercare [at] unionbankofindia [dot] com
Gwalior 1800-208-2244, customercare [at] unionbankofindia [dot] com
Hyderabad 1800-208-2244, customercare [at] unionbankofindia [dot] com
Indore 1800-208-2244, customercare [at] unionbankofindia [dot] com
Jabalpur 1800-208-2244, customercare [at] unionbankofindia [dot] com
Jaipur 1800-208-2244, customercare [at] unionbankofindia [dot] com
Jalandhar 1800-208-2244, customercare [at] unionbankofindia [dot] com
Jodhpur 1800-208-2244, customercare [at] unionbankofindia [dot] com
Kanpur 1800-208-2244, customercare [at] unionbankofindia [dot] com
Karnal 1800-208-2244, customercare [at] unionbankofindia [dot] com
Kolhapur 1800-208-2244, customercare [at] unionbankofindia [dot] com
Kolkata 1800-208-2244, customercare [at] unionbankofindia [dot] com
Kota 1800-208-2244, customercare [at] unionbankofindia [dot] com
Kozhikode 1800-208-2244, customercare [at] unionbankofindia [dot] com
Lucknow 1800-208-2244, customercare [at] unionbankofindia [dot] com
Ludhiana 1800-208-2244, customercare [at] unionbankofindia [dot] com
Madurai 1800-208-2244, customercare [at] unionbankofindia [dot] com
Meerut 1800-208-2244, customercare [at] unionbankofindia [dot] com
Mehsana 1800-208-2244, customercare [at] unionbankofindia [dot] com
Mohali Sas Nagar 1800-208-2244, customercare [at] unionbankofindia [dot] com
Mumbai 1800-208-2244, customercare [at] unionbankofindia [dot] com
Mussoorie 1800-208-2244, customercare [at] unionbankofindia [dot] com
Nagpur 1800-208-2244, customercare [at] unionbankofindia [dot] com
Nashik 1800-208-2244, customercare [at] unionbankofindia [dot] com
Noida 1800-208-2244, customercare [at] unionbankofindia [dot] com
Noida Extn 1800-208-2244, customercare [at] unionbankofindia [dot] com
Panipat 1800-208-2244, customercare [at] unionbankofindia [dot] com
Patna 1800-208-2244, customercare [at] unionbankofindia [dot] com
Pondicherry 1800-208-2244, customercare [at] unionbankofindia [dot] com
Pune 1800-208-2244, customercare [at] unionbankofindia [dot] com
Raipur 1800-208-2244, customercare [at] unionbankofindia [dot] com
Rajkot 1800-208-2244, customercare [at] unionbankofindia [dot] com
Ranchi 1800-208-2244, customercare [at] unionbankofindia [dot] com
Rohtak 1800-208-2244, customercare [at] unionbankofindia [dot] com
Roorkee 1800-208-2244, customercare [at] unionbankofindia [dot] com
Salem 1800-208-2244, customercare [at] unionbankofindia [dot] com
Shimla 1800-208-2244, customercare [at] unionbankofindia [dot] com
Sonepat 1800-208-2244, customercare [at] unionbankofindia [dot] com
Surat 1800-208-2244, customercare [at] unionbankofindia [dot] com
Trichy 1800-208-2244, customercare [at] unionbankofindia [dot] com
Udaipur 1800-208-2244, customercare [at] unionbankofindia [dot] com
Vadodara 1800-208-2244, customercare [at] unionbankofindia [dot] com
Varanasi 1800-208-2244, customercare [at] unionbankofindia [dot] com
Vijaywada 1800-208-2244, customercare [at] unionbankofindia [dot] com
Vizag 1800-208-2244, customercare [at] unionbankofindia [dot] com
Union Bank Of India Car Loan Calculator

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