Union Bank Loan Against Property EMI Calculator

Lowest EMI on Union Bank of India Loan Against Property - Rs. 1,326 per lakh

Last Updated 24th Jan 2017
Loan Tenure
Loan Amount (Rs.) 7 years 10 years 12 years
2,500,000 Rs. 44,400 Rs. 36,157 Rs. 33,139
5,000,000 Rs. 88,799 Rs. 72,315 Rs. 66,278
7,500,000 Rs. 133,199 Rs. 108,472 Rs. 99,417
10,000,000 Rs. 177,599 Rs. 144,629 Rs. 132,555

Check Union Bank Loan Against Property EMI for a loan amount and tenure

Union Bank of India Loan Against Property EMI Calculator
  • Loan Against Property EMI (or equated monthly instalment) is a fixed amount of money you pay Union Bank of India towards repayment of your property loan every month on a fixed day of the month till your loan is fully paid back.
  • With Union Bank of India now offering loan tenure upto 18 years at attractive interest rates starting is 12.20%, your EMI can be as low as Rs. 1326 per Rs. one lakh loan amount.
  • The Loan Against Property EMI comprises of both principal repayment and interest payment. While the EMI amount remains constant, the interest component of keeps reducing and the principal component keeps increasing, except in case of an increase in interest rate on the loan.
Use the above quick and easy tool to easily calculate and compare monthly EMI on Union Bank of India Loan Against Property.

Will the Union Bank Loan Against Property EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

  • Typically, the Loan Against Property EMI remains unchanged unless the customer requests for a change and the same is approved by Union Bank of India 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 loan increases, Union Bank of India 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 Union Bank of India, the bank may increase your EMI amount.

Will Loan Against Property EMI change in case of prepayment?

  • When you make a prepayment, the outstanding principal amount on your property loan reduces. You may choose to either keep the EMI the same and reduce the loan tenure (enabling you pay off the loan faster) or reduce the EMI and keep the loan tenure unchanged (thus paying 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.
  • Note that Union Bank of India may levy prepayment charges except on floating rate property loans sanctioned to individuals.

How does Loan Against Property EMI calculator calculate Loan Against Property EMI?

  • EMI is calculated using a combination of loan amount, loan tenure and interest rate.
  • EMI is calculated on a reducing balance basis and assuming payment of EMI in arrears (that is interest is charged for the month preceding the date of EMI payment on EMI date) and not in advance.
Union Bank Loan Against Property EMI Calculator News - Jan 2017
02nd Jan 17 Union Bank of India reduces MCLR by up to 90 basis points
Union Bank of India has reduced its overnight and three months marginal cost of lending rates to 8.15 and 8.40 percent as compared to 9.05 and 9.15 percent earlier. The revised MCLR for six months and one year now stands at 8.50 and 8.65 percent respectively. Similarly, three year MCLR has reduced to 8.75 percent as compared to 9.40 percent earlier. The rates are effective from 1st January, 2017.
01st Sep 16 Union Bank of India will reduce its MCLR from September 1, 2016
Union Bank of India has reduced its Marginal Cost Based Lending Rate (MCLR) by 5 basis points (bps) across maturities. The 1 year MCLR has been reduced to 9.4 percent from the current rate of 9.45 percent. The 2 year and 3 year MCLR is reduced to 9.45 and 9.5 percent respectively. The 3 month and 6 month MCLR has been reduced to 9.25 percent and 9.35 percent respectively. Similarly the Overnight and 1 month MCLR has been reduced to 9.15 and 9.2 percent. These changes are effective from 1st September, 2016. For borrowers who have taken a home loan from Union Bank of India after 1st April 2016, the reduction in MCLR will translate into a reduction in their floating home loan rates and hence their interest outgo.
11th Aug 16 Union Bank of India app allows users to control credit card transactions
Union Bank of India has launched an app called UControl for its customers that will allow them to block transactions and set limits over their credit cards. This app will also allow customers to block certain transaction channels such as ATM withdrawals, in store transactions, Internet transactions and foreign transactions. Through this app, customer can also monitor and analyze spends of dependents or joint cardholders.
08th Aug 16 Union Bank of India Q1 profit falls to Rs 166.32 crore
Union Bank of India Ltd reported a fall of 68 per cent in net profit to Rs. 166.32 crore in the first quarter of FY17. Net interest income of the bank decreased to Rs. 2102.25 crore against Rs. 2130.17 crore during same period of FY16. Gross NPAs of the bank as a percentage of total loans increased by 12.86 per cent to Rs. 27280.90 crore in the first quarter of FY17.
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