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United Bank Home Loan EMI Calculator

United Bank Home Loan Calculator

Last Updated 11th May 2021

  • United Bank of India home loan EMI per ₹ 1 Lakh is ₹ 662, which is one of the lowest EMI offered by banks. Check Best Offers
  • Housing loan EMI in United Bank of India is calculated based on loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for United Bank of India home loan before applying. Use an online United Bank of India loan EMI calculator to estimate your EMI.
  • Check United Bank of India home loan EMI for different tenures at the current United Bank of India home loan interest rate of 6.95%
  • Loan Amount10 Year Loan15 Year loan30 Year loan
    ₹ 10 Lakh₹ 11,585₹ 8,960₹ 6,619
    ₹ 20 Lakh₹ 23,170₹ 17,921₹ 13,239
    ₹ 30 Lakh₹ 34,755₹ 26,881₹ 19,858
    ₹ 50 Lakh₹ 57,925₹ 44,802₹ 33,097

    United Bank of India has merged into Punjab National Bank on April 1, 2020. The interest rates of Punjab National Bank will now be applicable on United Bank of India Home Loan.

    Jump to EMI Calculator

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United Bank Home Loan EMI Calculator Online

United Bank of India Home Loan EMI is the fixed amount that you need to pay on a fixed date of the month till the end of repayment tenure. The amount is based on your loan amount, tenure and interest rate. You can calculate your United Bank of India housing loan EMI in advance to plan your loan payments and expenses using a United Bank of India home loan calculator. United Bank of India home loan EMI calculator is an online tool that functions on a mathematical algorithm and gives accurate results without hassle.

Why should you use United Bank of India Home Loan EMI Calculator?

  • Calculate the EMI at Different Tenures: United Bank of India offers the lowest EMI per lakh at ₹ 662. To get the lowest EMI on your home loan, you can compare the EMIs with a different loan amount and tenure. However, it is advisable to check with the bank to know the interest rate you will be eligible for United Bank of India home loan.
  • Compare United Bank of India Home Loan EMI: With United Bank of India home loan EMI Calculator, you can also estimate EMI on your home loan from United Bank of India with other leading banks in India at the same loan amount and tenure at varying interest rates.
  • Get Detailed Amortisation Schedule: You can calculate the division of total EMIs into interest and principal repayment on your loan at different periods throughout the loan tenure.
  • Calculate the Outstanding Balance: Finally, you can also calculate the remaining loan tenure for the outstanding balance at any period of the loan tenure. If you want to reduce your home loan tenure, you can always consider a home loan balance transfer because other banks may allow you to pay your home loan at low rates.

United Bank of India Home Loan EMI Calculator to estimate the EMI that fits your budget

To calculate your home loan EMI at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on United Bank of India Home Loan EMI calculator. The below-mentioned table shows the calculation of United Bank of India Home Loan at the various combinations of loan amount and years at the lowest rate of 6.95%. Considering this example, if you think you can afford to pay an EMI of in your budget, take an loan for 15 years or loan for 30 years, maybe the right United Bank of India Home loan plan for you.

United Bank of India home loan EMI is calculated for different loan amounts and tenures at 6.95% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 22,401 ₹ 19,308 ₹ 16,549
₹ 50 Lakh ₹ 44,802 ₹ 38,615 ₹ 33,097
₹ 75 Lakh ₹ 67,203 ₹ 57,923 ₹ 49,646
₹ 1 Cr ₹ 89,604 ₹ 77,230 ₹ 66,195

Benefits of using United Bank of India Home Loan EMI Calculator

United Bank of India Home Loan Calculator is online and gives instant results with 100% accuracy. The best part is that you can calculate and compare multiple EMIs on different combinations of loan amount, interest rate and tenure. Thus, using United Bank of India Home Loan EMI Calculator helps you to choose the right amount of EMI that is affordable and also decide on the right loan amount and loan tenure. Further, if you use the MyLoanCare United Bank of India Home Loan Calculator, you have the option to receive calculated EMIs and amortization schedules for each calculation by mail which can be referred to at a later stage when you are making the final decision to take a loan.

Factors Affecting United Bank of India Home Loan EMI

Home Loan EMI can be calculated using an online Home Loan Calculator which takes into account factors such as loan amount, rate of interest and the tenure for which you are planning to avail the loan.

Loan Amount

If you apply for a higher loan amount, you will have to pay a higher EMI United Bank of India gives a minimum home loan of ₹ 15,00,000 upto a maximum amount of ₹ 3,00,00,000.

Interest Rate

Higher interest rate increases your United Bank of India housing loan EMI which will increase the total cost of the loan. United Bank of India current home loan interest rate starts at 6.95%. Do a complete market research and compare rates and calculate EMI online using United Bank of India home loan calculator before you apply for a home loan.

Loan Tenure

This is the period in which you can repay your home loan in United Bank of India. Your EMI will be lower if you take a 30 years loan from United Bank of India as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.

United Bank Home Loan EMI Calculator Formula

United Bank Home Loan Calculator calculates EMI based on the following formula.

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how United Bank of India Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. United Bank of India home loan amount can range from ₹ 15,00,000 to ₹ 3,00,00,000
  • r = Rate of interest per month. Current United Bank of India housing loan rate 6.95%.
  • n = tenure in month. For United Bank of India, maximum home loan tenure is 360 months

Comparison of United Bank of India Home Loan EMI with other Banks

Bank Name Interest rate Loan Amount of ₹ 10 Lakh Loan Amount of ₹ 30 Lakh Loan Amount of ₹ 50 Lakh
United Bank of India 6.95 ₹ 6,619 ₹ 19,858 ₹ 33,097
Kotak Bank 6.65 ₹ 7,544 ₹ 22,633 ₹ 37,722

United Bank of India Home Loan Amortization Calculator

United Bank of India Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. United Bank of India gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Home Loan of ₹ 25 Lakh for 25 years from United Bank of India at an interest rate of 6.95%. EMI calculated for this loan amount is ₹ 17,590 and the total annual EMIs to be paid annually is ₹ 2,11,078. The EMI schedule of loan for 25 years is explained below in the table –

Amortization Schedule for a Home Loan of ₹ 25 Lakh over the 25 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 1,00,972 ₹ 22,157 ₹ 1,23,129 ₹ 24,77,843
2022 ₹ 1,70,948 ₹ 40,130 ₹ 2,11,078 ₹ 24,37,713
2023 ₹ 1,68,068 ₹ 43,010 ₹ 2,11,078 ₹ 23,94,704
2024 ₹ 1,64,982 ₹ 46,096 ₹ 2,11,078 ₹ 23,48,608
2025 ₹ 1,61,674 ₹ 49,404 ₹ 2,11,078 ₹ 22,99,204
2026 ₹ 1,58,129 ₹ 52,949 ₹ 2,11,078 ₹ 22,46,256
2027 ₹ 1,54,330 ₹ 56,748 ₹ 2,11,078 ₹ 21,89,507
2028 ₹ 1,50,258 ₹ 60,820 ₹ 2,11,078 ₹ 21,28,687
2029 ₹ 1,45,893 ₹ 65,184 ₹ 2,11,078 ₹ 20,63,503
2030 ₹ 1,41,216 ₹ 69,862 ₹ 2,11,078 ₹ 19,93,641
2031 ₹ 1,36,203 ₹ 74,875 ₹ 2,11,078 ₹ 19,18,766
2032 ₹ 1,30,830 ₹ 80,248 ₹ 2,11,078 ₹ 18,38,518
2033 ₹ 1,25,072 ₹ 86,006 ₹ 2,11,078 ₹ 17,52,512
2034 ₹ 1,18,900 ₹ 92,178 ₹ 2,11,078 ₹ 16,60,334
2035 ₹ 1,12,286 ₹ 98,792 ₹ 2,11,078 ₹ 15,61,542
2036 ₹ 1,05,197 ₹ 1,05,881 ₹ 2,11,078 ₹ 14,55,661
2037 ₹ 97,599 ₹ 1,13,479 ₹ 2,11,078 ₹ 13,42,182
2038 ₹ 89,456 ₹ 1,21,622 ₹ 2,11,078 ₹ 12,20,560
2039 ₹ 80,729 ₹ 1,30,349 ₹ 2,11,078 ₹ 10,90,211
2040 ₹ 71,375 ₹ 1,39,703 ₹ 2,11,078 ₹ 9,50,508
2041 ₹ 61,351 ₹ 1,49,727 ₹ 2,11,078 ₹ 8,00,781
2042 ₹ 50,607 ₹ 1,60,471 ₹ 2,11,078 ₹ 6,40,309
2043 ₹ 39,092 ₹ 1,71,986 ₹ 2,11,078 ₹ 4,68,323
2044 ₹ 26,750 ₹ 1,84,328 ₹ 2,11,078 ₹ 2,83,996
2045 ₹ 13,524 ₹ 1,97,554 ₹ 2,11,078 ₹ 86,441
2046 ₹ 1,508 ₹ 86,441 ₹ 87,949 -₹ 0

In the above illustration, on a United Bank of India Home Loan of₹ 25 Lakh, taken at the lowest interest rate of 6.95, EMI paid is ₹ 17,590 and an annual total of EMIs is ₹ 2,11,078, the interest component is ₹ 1,72,538 while the principal component is ₹ 38,540 in year 1 of loan disbursement. You repay only 1.54% of the total principal after paying 12 EMIs during the first year.

United Bank of India Home Loan EMI for ₹ 10 Lakh

The following table shows United Bank of India Housing Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 6.95%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 6.95% 5 Years ₹ 19,778
₹ 10,00,000 6.95% 10 Years ₹ 11,585
₹ 10,00,000 6.95% 15 Years ₹ 8,960
₹ 10,00,000 6.95% 20 Years ₹ 7,723
₹ 10,00,000 6.95% 30 Years ₹ 6,619

United Bank of India Home Loan EMI for ₹ 20 Lakh

The following table shows United Bank of India Housing Loan EMI for ₹ 20,00,000 for different tenures at an interest rate of 6.95%

Loan Amount Interest rate Tenure (Year) EMI
₹ 20,00,000 6.95% 5 Years ₹ 39,555
₹ 20,00,000 6.95% 10 Years ₹ 23,170
₹ 20,00,000 6.95% 15 Years ₹ 17,921
₹ 20,00,000 6.95% 20 Years ₹ 15,446
₹ 20,00,000 6.95% 30 Years ₹ 13,239

United Bank of India Home Loan EMI for ₹ 30 Lakh

The following table shows United Bank of India Housing Loan EMI for ₹ 30,00,000 for different tenures at an interest rate of 6.95%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 6.95% 5 Years ₹ 59,333
₹ 30,00,000 6.95% 10 Years ₹ 34,755
₹ 30,00,000 6.95% 15 Years ₹ 26,881
₹ 30,00,000 6.95% 20 Years ₹ 23,169
₹ 30,00,000 6.95% 30 Years ₹ 19,858

United Bank of India Home Loan EMI for ₹ 50 Lakh

The following table shows United Bank of India Housing Loan EMI for ₹ 50,00,000 for different tenures at an interest rate of 6.95%

Loan Amount Interest rate Tenure (Year) EMI
₹ 50,00,000 6.95% 5 Years ₹ 98,888
₹ 50,00,000 6.95% 10 Years ₹ 57,925
₹ 50,00,000 6.95% 15 Years ₹ 44,802
₹ 50,00,000 6.95% 20 Years ₹ 38,615
₹ 50,00,000 6.95% 30 Years ₹ 33,097

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FAQs

Will the United Bank of India home loan EMI remain constant or change in future?

No, your United Bank of India Home Loan EMI can change if you have taken a floating rate loan and there is a change in the repo rate to which the home loan rate has been benchmarked. However, if it is a fixed rate loan, the United Bank of India Home Loan EMI will remain unchanged throughout the loan tenure unless you request for a change in tenure or prepay your loan amount.

What happens in case of increase or decrease in United Bank of India interest rate?

United Bank of India offers floating rate home loans only. If you take a floating rate loan from United Bank of India, your interest rate and hence EMI will decrease with a cut in the repo rate and increase with an increase in repo rate on the date of reset. This means that your United Bank of India home loan EMI can keep fluctuating during the loan tenure depending on the changes in interest rates.

Will United Bank of India home loan EMI change in case of prepayment?

United Bank of India allows prepayment at nil charges in case of floating rate home loans. When you make a prepayment, the outstanding balance of the principal amount on your United Bank of India home loan reduces. In this case, you may choose to either keep the EMI same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure the same (that is paying a lesser amount every month). It is beneficial to keep the United Bank of India home loan EMI constant and reduce the loan tenure as you pay less interest to the bank in this option. After prepayment, you can calculate your home loan EMI using United Bank of India home loan calculator.

Why should I calculate United Bank of India loan EMI before taking a loan?

It is advised to calculate United Bank of India home loan EMI before taking a home loan. There are several benefits of calculating your United Bank of India housing loan EMI which can be done using United Bank of India loan calculator United Bank of India housing loan EMI calculator as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and make United Bank of India EMI affordable.
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly
  • Based on the EMI amount, you can opt for making a prepayment of your home loan in the future when you have a surplus amount. You can calculate the aftermaths of prepayment using home loan emi calculator United Bank of India.

What is the EMI for home loan in United Bank of India?

The United Bank of India EMI will vary based on loan amount, tenure, rate of interest and can be calculated using United Bank of India home loan calculator. Based on the lowest rate of 6.95% and maximum tenure of 30 years, the United Bank of India home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 6,619
₹ 12 Lakh ₹ 7,943
₹ 15 Lakh ₹ 9,929
₹ 30 Lakh ₹ 19,858
₹ 50 Lakh ₹ 33,097

You can compare United Bank of India home loan EMI for different loan amounts and tenure and then choose the loan amount based on your repayment capacity.

How accurate is a United Bank of India Housing Loan EMI calculator?

Online United Bank of India housing loan calculators use technology to calculate the results and hence, if the data entered by you is correct the results should be 100% accurate.The calculator works on a mathematical algorithm based on the formula: P*r* (1+r)^n/([(1+r)^n]-1). Here, P is the loan amount, r is the rate of interest per month and n is the tenure in month. The United Bank of India home loan emi calculator is far better than manual calculations , as chances of error are less.

How to pay your United Bank of India Home loan EMI Online?

To pay the EMI of United Bank of India home loan, you can log in to your net banking account as provided during the time of availing the loan and pay using your savings account or debit/credit card. You can also visit the branch and submit the cheque of your EMI.

How is United Bank of India home loan EMI calculated?

The United Bank of India Home loan EMI calculation formula is as follows:
E = [P x R x (1+R)^N]/[(1+R)^N-1] where
‘E’ means Equated monthly instalments
‘P’ means the principal amount
‘N’ is the number of monthly instalments
‘R’ is the interest rate per month.

What is the EMI for ₹ 10 Lakh home loan in United Bank of India?

You can use a 10 lakh home loan emi calculator United Bank of India, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 6.95% 10 years loan ₹ 11,585
₹ 10 Lakh 6.95% 15 years loan ₹ 8,960
₹ 10 Lakh 6.95% 20 years loan ₹ 7,723

What is the EMI for ₹ 20 Lakh home loan in United Bank of India?

You can use a 20 lakh home loan emi calculator United Bank of India, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 20 Lakh 6.95% 10 years loan ₹ 23,170
₹ 20 Lakh 6.95% 15 years loan ₹ 17,921
₹ 20 Lakh 6.95% 20 years loan ₹ 15,446

What is the EMI for ₹ 30 Lakh home loan in United Bank of India?

You can use a 30 lakh home loan emi calculator United Bank of India, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 6.95% 10 years loan ₹ 34,755
₹ 30 Lakh 6.95% 15 years loan ₹ 26,881
₹ 30 Lakh 6.95% 20 years loan ₹ 23,169

What is the EMI for ₹ 50 Lakh home loan in United Bank of India?

You can use a 50 lakh home loan emi calculator United Bank of India, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 50 Lakh 6.95% 10 years loan ₹ 57,925
₹ 50 Lakh 6.95% 15 years loan ₹ 44,802
₹ 50 Lakh 6.95% 20 years loan ₹ 38,615

What is the EMI for a 25 lakhs home loan in United Bank of India and how is it calculated?

EMI for ₹ 25 lakhs will be as follows for three different tenure, as per 25 lakh home loan emi calculator United Bank of India:--

Loan amount Interest rate Tenure EMI
₹ 25 Lakh 6.95% 10 years loan ₹ 28,963
₹ 25 Lakh 6.95% 15 years loan ₹ 22,401
₹ 25 Lakh 6.95% 20 years loan ₹ 19,308

What is the EMI for 12 lakhs home loan in United Bank of India?

A borrower will pay ₹ 12,309 if he/she takes a loan for 12 years at an interest rate of 6.95%. The 12 lakh home loan emi United Bank of India may vary across United Bank of India home loan interest rate.

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United Bank Home Loan News - Jun 2021
  • 2019-07-19 : United Bank of India loans to get cheaper, as lender reduces MCLR rates by 5 basis points
    United Bank of India has cut its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points. The move is supposed to make customer loans like home loans and mortgage loans cheaper. The lender has reduced a one-year MCLR rate to 8.70% as against 8.75% earlier. For one-month and three months, the rate has been revised to 8.25% and 8.40% respectively, which is also down by 5 basis points from earlier rates. The rates are effective from July 17, 2019.
  • 2019-04-18 : United Bank of India cuts MCLR by 5 basis points
    United Bank of India has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points across all tenors for the month of April. The move is supposed to make home loans and mortgage loans cheaper. Now for 3 months, the MCLR stands at 8.45% as compared to 8.50% earlier while for 6 months, the rate has been revised to 8.55% from 8.60% respectively and for 1 year the rate now stands at 8.80% from 8.85% earlier. The revised rates are effective from April 18, 2019.
  • 2019-01-21 : United Bank of India partners with Star Health & Allied Insurance Company
    Public sector lender, United Bank of India (UBI) has announced its partnership with Star Health & Allied Insurance Company that would offer third-party health cover to its customers. In this way, the lender has become a corporate agent of the health insurer. This arrangement would help the bank boost its fee income. In addition to this, the bank is also planning to boost its home loan portfolio this year.
  • 2018-09-14 : United Bank of India shoot up Floating Home Loan rates by 5bps
    United Bank of India has increased its floating interest Rate on the home loan by 5 basis points. The new rate for the Home loan now stands at 8.65%, which was 8.60% earlier. These rates are currently effective. There is no change in the processing fees.
  • 2018-08-21 : United Bank of India reports Q1: net loss widens to Rs 389 crore
    United Bank of India announced Q1 result. Its net loss widened to Rs 389 crores in the first quarter ended June against a net loss of Rs 211 crore a year ago. Its overall profitability was affected due to a spike in mark-to-market provisioning by 195.78% year on year due to an “adverse market scenario”. Gross non-performing assets (NPAs) declined 8.35% q-o-q to Rs 15169 crore from Rs 16552 crore a year ago.
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