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United Bank Loan Against Property EMI Calculator

United Bank of India Mortgage Loan EMI 2021

Last Updated 03rd Aug 2021

Get monthly EMI as low as ₹ 1,699 per lakh on United Bank of India loan against property. Mortgage loan EMI in United Bank of India depends upon the type of property (residential, commercial, industrial), occupation (businessmen, self employed, salaried), loan amount, loan tenure and interest rate. Check Best Offers.

  • Use United Bank of India mortgage loan calculator to evaluate your EMI before applying for a loan.
  • Check United Bank of India property loan EMI for different tenures at the current rate of 10.75%
Loan Amount5 Year Loan7 Year loan7 Year loan
₹ 20 Lakh₹ 43,236₹ 33,983₹ 33,983
₹ 30 Lakh₹ 64,854₹ 50,974₹ 50,974
₹ 50 Lakh₹ 1,08,090₹ 84,956₹ 84,956

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 Loan Against Property.

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Loan Against Property EMI Calculator United Bank of India

You can calculate your United Bank of India loan against property EMI in advance to plan your expenses using a United Bank of India mortgage loan calculator. United Bank of India loan against property EMI calculator is an online tool that gives accurate results without hassle.

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

  • Calculate the EMI at Different Tenures : With United Bank of India LAP EMI Calculator, you can compare the EMI on your loan against property with different loan tenures and loan amount. However, you must check the interest rate on United Bank of India loan against property to calculate the EMI. As per the current rates, United Bank of India offers the lowest EMI per lakh of ₹ 1,699 at 10.75 %
  • Compare United Bank of India LAP EMI : You can also get a precise estimate on your loan against property compared to other banks at the same loan amount and tenure by using United Bank of India loan EMI Calculator. On the basis of United Bank of India Loan against property EMI, you can choose the most affordable offer.
  • Get Detailed Amortisation Schedule : United Bank of India Loan against EMI Calculator helps you to calculate the division of total EMIs into interest and principal repayment at different periods throughout the loan tenure.
  • Calculate the Outstanding Balance : Finally, you can also use United Bank of India EMI Calculator to calculate the remaining loan tenure for the outstanding balance at any period of the loan tenure. Thus, it can help you reduce your loan tenure by prepayment or foreclosure or to avail loan at a lower rate with balance trasnfer.

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

To calculate the EMI against United Bank of India EMI loan against property at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the United Bank of India Loan against property EMI calculator. The table below shows the United Bank of India EMI calculation at the various combinations of loan amount and years at the lowest rate of 10.75%.

United Bank of India Loan against property EMI is calculated for different loan amounts and tenures at 10.75% interest rate

Loan Tenure
Loan Amount (Rs.)10 years15 years20 years
EMI on ₹ 15,00,000 ₹ 20,451 ₹ 16,814 ₹ 15,228
EMI on ₹ 25,00,000 ₹ 34,085 ₹ 28,024 ₹ 25,381
EMI on ₹ 40,00,000 ₹ 54,535 ₹ 44,838 ₹ 40,609
EMI on ₹ 60,00,000 ₹ 81,803 ₹ 67,257 ₹ 60,914

Factors Affecting United Bank of India Property Loan EMI

You can calculate United Bank of India EMI for your loan against property using an online LAP EMI Calculator, which considers 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 on loan against property. You can avail of United Bank of India loan against property for an amount ranging between ₹ 10,00,000 to ₹ 5,00,00,000.

Interest Rate

A higher interest rate increases your United Bank of India loan against property EMI, increasing the total cost of the loan. As per the current rates, United Bank of India provides loan against property at rates starting at 10.75%. Before applying for a loan, you must compare LAP rates and calculate EMI online using United Bank of India loan against property loan calculator.

Loan Tenure

Your EMI will be lower if you avail mortgage loan for a maximum tenure of 7 years, and similarly, you will have to pay a higher EMI if your tenure is shorter.

Comparison of United Bank of India Loan Against Property 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 10.75% ₹ 16,991 ₹ 50,974 ₹ 84,956
Andhra Bank 10.75% ₹ 13,634 ₹ 40,902 ₹ 68,169
United Bank of India 10.75% ₹ 16,991 ₹ 50,974 ₹ 84,956
Karnataka Bank 10.89% ₹ 11,297 ₹ 33,891 ₹ 56,485
OBC 10.95% ₹ 13,747 ₹ 41,240 ₹ 68,734
Cholamandalam 11.00% ₹ 11,366 ₹ 34,098 ₹ 56,830
Lakshmi Vilas Bank 11.00% ₹ 13,775 ₹ 41,325 ₹ 68,875
Corporation Bank 11.35% ₹ 13,974 ₹ 41,922 ₹ 69,869
Piramal Housing Finance 11.50% ₹ 10,664 ₹ 31,993 ₹ 53,321
Central Bank of India 13.75% ₹ 15,377 ₹ 46,130 ₹ 76,883
Allahabad Bank 14.15% ₹ 16,422 ₹ 49,265 ₹ 82,108

United Bank Loan Against Property Amortization Calculator

The amortization schedule breaks the month-wise calculation of principal and interest amount you will be paying in the form of your EMIs. In simple words, with each month’s EMI, the share of interest and the principal amount keeps changing, while the former keeps on reducing the later keep on increasing. That’s why if you decide to prepay your loan in the first few years you will find out that you have paid a very small proportion of the principal sum. Let us understand this better with the help of an illustration.

Illustration: How to read an amortization schedule

Suppose you borrow a Loan Against Property of ₹ 20 Lakh from United Bank for 20 years at an interest rate of 10.75%, the EMI calculated for this loan amount would be ₹ 20,305 and the total annual EMIs to be paid annually is ₹ 2,43,655. The United Bank Loan Against Property EMI schedule for 20 years is explained below in the table –

Amortization Schedule for a Loan Against Property of ₹ 20 Lakh over the 20 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 53,686 ₹ 7,228 ₹ 60,914 ₹ 19,92,772
2022 ₹ 2,12,729 ₹ 30,926 ₹ 2,43,655 ₹ 19,61,846
2023 ₹ 2,09,235 ₹ 34,420 ₹ 2,43,655 ₹ 19,27,426
2024 ₹ 2,05,347 ₹ 38,308 ₹ 2,43,655 ₹ 18,89,118
2025 ₹ 2,01,020 ₹ 42,635 ₹ 2,43,655 ₹ 18,46,483
2026 ₹ 1,96,204 ₹ 47,451 ₹ 2,43,655 ₹ 17,99,033
2027 ₹ 1,90,844 ₹ 52,811 ₹ 2,43,655 ₹ 17,46,222
2028 ₹ 1,84,879 ₹ 58,776 ₹ 2,43,655 ₹ 16,87,446
2029 ₹ 1,78,240 ₹ 65,415 ₹ 2,43,655 ₹ 16,22,031
2030 ₹ 1,70,850 ₹ 72,804 ₹ 2,43,655 ₹ 15,49,226
2031 ₹ 1,62,627 ₹ 81,028 ₹ 2,43,655 ₹ 14,68,198
2032 ₹ 1,53,474 ₹ 90,181 ₹ 2,43,655 ₹ 13,78,017
2033 ₹ 1,43,287 ₹ 1,00,368 ₹ 2,43,655 ₹ 12,77,649
2034 ₹ 1,31,950 ₹ 1,11,705 ₹ 2,43,655 ₹ 11,65,944
2035 ₹ 1,19,332 ₹ 1,24,323 ₹ 2,43,655 ₹ 10,41,621
2036 ₹ 1,05,288 ₹ 1,38,366 ₹ 2,43,655 ₹ 9,03,254
2037 ₹ 89,659 ₹ 1,53,996 ₹ 2,43,655 ₹ 7,49,258
2038 ₹ 72,264 ₹ 1,71,391 ₹ 2,43,655 ₹ 5,77,867
2039 ₹ 52,904 ₹ 1,90,751 ₹ 2,43,655 ₹ 3,87,116
2040 ₹ 31,357 ₹ 2,12,298 ₹ 2,43,655 ₹ 1,74,818
2041 ₹ 7,923 ₹ 1,74,818 ₹ 1,82,741 ₹ 0

Each United Bank Loan Against Property EMI consists of both amounts of interest as well as the principal repaid. The interest component of EMI goes down while the principal component goes up in both cases while doing the calculation.

As you assess the amortization table, you will find that by the end of 1st year 12.36% of your EMI has been used to repay the principal amount. This means that the remaining 87.64% of the EMI went into interest payment. Thus, you end up paying only 1.51% of the loan amount of ₹ 20 Lakh after paying 12 EMIs in the first year to United Bank.

In year 20, the interest component of United Bank EMI is around 5.59%, while the principal component is around 94.41%. Upto 20 years, you have cumulatively repaid 100% of your total United Bank Loan Against Property.

United Bank of India Loan Against Property EMI for ₹ 10 Lakh

The following table shows EMI on United Bank of India loan against property for ₹ 10,00,000 for different tenures at an interest rate of 10.75%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 10.75% 5 Years ₹ 21,618
₹ 10,00,000 10.75% 10 Years ₹ 13,634
₹ 10,00,000 10.75% 12 Years ₹ 12,388
₹ 10,00,000 10.75% 7 Years ₹ 16,991

United Bank of India Loan Against Property EMI for ₹ 25 Lakh

The following table shows United Bank of India loan against property EMI for ₹ 25,00,000 for different tenures at an interest rate of 10.75%

Loan Amount Interest rate Tenure (Year) EMI
₹ 25,00,000 10.75% 5 Years ₹ 54,045
₹ 25,00,000 10.75% 10 Years ₹ 34,085
₹ 25,00,000 10.75% 12 Years ₹ 30,970
₹ 25,00,000 10.75% 7 Years ₹ 42,478

United Bank of India Mortgage Loan EMI for ₹ 30 Lakh

The following table shows United Bank of India loan against property EMI for ₹ 30,00,000 for different tenures at an interest rate of 10.75%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 10.75% 5 Years ₹ 64,854
₹ 30,00,000 10.75% 10 Years ₹ 40,902
₹ 30,00,000 10.75% 12 Years ₹ 37,164
₹ 30,00,000 10.75% 7 Years ₹ 50,974

FAQs

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

United Bank of India Loan against property may change as per the borrower’s financial ability or in case of floating rate of interests offered by the lender. The consequences of the change in United Bank of India LAP EMI are listed as follows:

  • Typically, the Loan Against Property EMI remains unchanged unless the customer requests for a change and the same is approved by United 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, United 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 the extent that the revised loan tenure is more than the maximum permissible by United Bank of India, the bank may increase your EMI amount.

Will United Bank of India Loan Against Property EMI change in case of prepayment?

Similar to all loans, United Bank of India Loan against property also offers the prepayment facility to the loan borrowers. Prepayment of loan leads to certain changes as listed below:

  • 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 to pay off the loan faster) or reduce the EMI and keep the loan tenure unchanged (thus paying a 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 United Bank of India may levy prepayment charges except on floating rate property loans sanctioned to individuals.

How does EMI calculator calculate United Bank of India Loan Against Property EMI?

United Bank of India Loan against property emi calculator is a reliable and time-saving tool to calculate the LAP EMI. It functions as follows:

  • EMI is calculated using a combination of the loan amount, loan tenure and interest rate.
  • United Bank of India mortgage loan calculator calculates EMI 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.

How much loan can I get against my property from United Bank of India?

You can avail of a maximum loan of ₹ 5,00,00,000, depending on the value of the property. However, the loan amount cannot be more than 60% of the property value. United Bank of India assesses the property before approving your mortgage loan application.

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

You can pay the United Bank of India mortgage loan EMI by logging in to your net banking account as provided when availing of the loan using your savings account or debit/credit card. You can also visit the United Bank of India branch to submit the cheque of your EMI.

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

To determine different EMI for different tenures, you can use a 10 lakh loan against property EMI Calculator. Consider this example for a better understanding.

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 10.75% 5 years ₹ 21,618
₹ 10 Lakh 10.75% 10 years ₹ 13,634
₹ 10 Lakh 10.75% 12 years ₹ 12,388
₹ 10 Lakh 10.75% 7 years ₹ 16,991

How is United Bank of India loan against property EMI calculated?

You can calculate United Bank of India LAP EMI using the mathematical formula mentioned below or using an online United Bank of India LAP EMI Calculator.

  • 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 ₹ 20 Lakh Loan against property in United Bank of India?

To determine different Loan against property EMI United Bank of India for different tenures, you can use a 20 lakh loan against property Calculator, as reflected in the table below:

Loan amount Interest rate Tenure EMI
₹ 20 Lakh 10.75% 5 years ₹ 43,236
₹ 20 Lakh 10.75% 10 years ₹ 27,268
₹ 20 Lakh 10.75% 12 years ₹ 24,776
₹ 20 Lakh 10.75% 7 years ₹ 33,983

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

To determine different United Bank of India EMI for different tenures, you can use a 30 lakh loan against property EMI Calculator.

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 10.75% 5 years ₹ 64,854
₹ 30 Lakh 10.75% 10 years ₹ 40,902
₹ 30 Lakh 10.75% 12 years ₹ 37,164
₹ 30 Lakh 10.75% 7 years ₹ 50,974

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

To estimate United Bank of India EMI for different loans against property tenures, you can use a 50 lakh mortgage Calculator. The results are mentioned as follows:

Loan amount Interest rate Tenure EMI
₹ 50 Lakh 10.75% 5 years ₹ 1,08,090
₹ 50 Lakh 10.75% 10 years ₹ 68,169
₹ 50 Lakh 10.75% 12 years ₹ 61,940
₹ 50 Lakh 10.75% 7 years ₹ 84,956


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United Bank Loan Against Property News - Oct 2021
  • 2021-07-15 : UBI and OBC merged with PNB
    After the merger of UBI and OBC with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 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.
  • 2019-03-07 : United Bank of India signs bancassurance deal with HDFC Life Insurance
    United Bank of India (UBI) has signed a bancassurance deal with private life insurer HDFC Life Insurance Company. Through this partnership, the customers of the bank will be able to take advantage of the relevant expertise in the field of insurance across life insurance products, distribution and customer service. In addition to this, the lender also has plans to achieve a significant growth across its retail loans including home loans and mortgage loans.
  • 2018-09-14 : United Bank of India increases Floating LAP rates by 5bps
    United Bank of India has increased its floating interest Rate on the Loan Against Property (LAP) by 5 basis points. The new rate for the LAP now stands at 8.75%, which was 8.70% earlier. These rates are currently effective. There is no change in the processing fees.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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