City Union Home Loan EMI Calculator

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City Union Bank Home Loan EMI Calculator

Last Updated 18th Oct 16

City Union Home Loan - Lowest EMI is Rs. 1,115 per lakh

  • Get monthly EMI as low as Rs. 1,115 per lakh with City Union Bank now offering home loans with loan tenure upto 15 years.
  • Lowest home loan interest rate currently offered by City Union Bank is 10.65%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,115 for a 15 year loan and Rs. 1008 for a 20 year loan. Check the EMI for other tenures using the City Union Bank home loan EMI calculator on this page.

Home Loan EMI Calculator City Union Bank

City Union Bank Home Loan EMI Calculator

City Union Home Loan EMI

  • Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to City Union Bank 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 City Union Bank offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 1,115 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by City Union Bank on Home Loan is 10.65%. You can check EMI for other tenures using our City Union Bank Home Loan EMI calculator.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 27,86825,21223,149
    5,000,000 55,73650,42446,299
    7,500,000 83,60475,63669,448
    10,000,000 111,472100,84892,597
  • 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.

City Union Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how City Union Bank Home Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 1,000,000 to Rs. 100,000,000
r = Rate of interest per month. Current rate is 10.65%, which is linked to 6 Month MCLR, last revised on 05th Sep 16
n = tenure in month. For City Union Bank, this can be 360 months

Will the City Union home loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

  • Typically, the home loan EMI remains unchanged unless the customer requests for a change and the same is approved by City Union Bank subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI)
  • In case the floating rate of interest on your home loan increases, City Union Bank will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by City Union Bank, the bank may increase your EMI amount.
  • For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement.

Will home loan EMI change in case of prepayment?

  • City Union Bank allows prepayment at nil charges or penalty in case of floating rate home loans.
  • When you make a prepayment, the outstanding principal amount on your home loan reduces. In this case, you may choose to either keep the EMI the same and reduce the loan tenure (that is pay off the loan faster) or reduce the EMI and keep the loan tenure the same (that is pay lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.
*My Finance Care Advisors Pvt. Ltd., or is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.
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City Union Home Loan EMI Calculator News - Oct 2016
01st Sep 16 City Union Bank has reduced its MCLR from 1st September, 2016
City Union Bank has reduced its Marginal Cost Based Lending Rate (MCLR) across maturities, effective from 1st September, 2016. The 3month, 6 month and 1 year MCLR has been reduced by 25 basis points to 9.6, 9.65 and 9.75 percent respectively. Similarly, the overnight and 1 month MCLR has been reduced 20 basis points to 9.5 and 9.55 percent respectively. For borrowers who have taken a home loan from City Union Bank after 1st April 2016, the reduction in MCLR will translate into a reduction in their home loan rates and hence their interest outgo. However, if you have taken home loan at fixed interest rate then your interest expense will remain unchanged.
14th Aug 16 City Union Bank posts 10.73 per cent growth in profits
City Union Bank has reported an increase of 10.73 per cent in the net profit to Rs. 124 crore in the June quarter of FY17 from Rs. 112 crore in the same period of previous fiscal. Total income of the bank increased to Rs. 883.3 crore in first quarter of FY17 from Rs. 810.93 crore in the same period a year earlier. Gross NPAs and Net NPAs of the bank as a percentage stood at 2.62 per cent and 1.59 per cent in the June quarter from 2.01 per cent and 1.32 per cent in the corresponding period of FY16.