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Corporation Personal Loan Calculator

Corporation Bank Personal Loan EMI Calculator, May 2022

Last Updated 16th Jul 2021

  • Personal loan EMI in Corporation Bank depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.
  • Corporation Bank Personal Loan EMI Calculator is an online tool to estimate monthly EMI and its division into principal and Interest during the entire loan tenure.
  • Lowest monthly EMI is ₹ 3,175 per lakh on Corporation Bank personal loan as calculated using the lowest interest rate of 8.90% for the longest tenure of 36 months.
  • For example, the table below gives the EMIs on Corporation Personal Loan at different loan amounts and loan tenure, if taken at the lowest rate.
Loan Amount1 Year Loan3 Year loan3 Year loan
₹ 1 Lakh₹ 8,741₹ 3,175₹ 3,175
₹ 5 Lakh₹ 43,703₹ 15,877₹ 15,877
₹ 10 Lakh₹ 87,405₹ 31,753₹ 31,753

Corporation Bank has merged into Union Bank of India on April 1, 2020. The interest rates of Union Bank of India will now be applicable on Corporation Bank Personal Loan.

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Personal Loan EMI Calculator Corporation

Corporation Bank Personal Loan EMI is a fixed amount of money paid by you to Corporation Bank based on your loan amount, tenure and interest rate. Every month, it is due on a fixed day of the month till the loan is fully paid back. You can calculate your Corporation Bank personal loan EMI in advance, to plan your loan payments and further expenses, using the Personal Loan EMI Calculator Corporation. The calculator functions on a mathematical algorithm and gives accurate results in no time.

Why should you use Corporation Bank Personal Loan EMI Calculator?

  • Calculate the EMI within your budget: Helps you compare the EMIs with a different loan amount and tenure. Always talk to the bank to know the interest rate you will be eligible for Corporation Bank personal loan which can range between 8.90% to 13.00%.
  • Compare Corporation Bank personal Loan EMI: Helps you compare the estimated EMI on a personal loan from Corporation Bank with that of leading banks in India using the same loan amount of upto ₹ 2.50 Lakh for a maximum tenure of 36 months, but at different interest rates.
  • Calculate interest on Corporation Bank personal loan: You can calculate the split of total EMIs into interest and principal repayment on your loan from Corporation over the loan tenure.
  • Detailed amortisation schedule: This allows you to see the pace at which your principal amount will be repaid during the loan tenure month on month. This is helpful if you decide to prepay your loan at Corporation or balance transfer to another bank.

Corporation Bank Personal Loan EMI Calculator to Estimate the EMI that Fits your Budget

Input different loan amounts and tenure at the eligible interest rate on Corporation Bank Personal Loan EMI calculator to calculate various EMIs at different rates and tenure. The table captures the calculation of Corporation Bank Personal Loan EMI Calculation at the various combinations of loan amount and years when taking at the lowest rate of 8.90%. So if you think that you can afford to pay an EMI of ₹ 10,000 in your budget, taking a ₹ 3 Lakh loan for 3 years or ₹ 5 Lakh loan for 5 years, maybe the right Corporation Bank personal loan plan for you.Personal Loan EMI is calculated for Corporation for different loan amounts and tenures at the rate of 8.90%.

Loan Amount (Rs.)2 Years3 Years3 Years
1 Lakh ₹ 4,564 ₹ 3,175 ₹ 3,175
3 Lakh ₹ 13,692 ₹ 9,526 ₹ 9,526
5 Lakh ₹ 22,819 ₹ 15,877 ₹ 15,877
10 Lakh ₹ 45,639 ₹ 31,753 ₹ 31,753

Factors Affecting Corporation Bank Personal Loan EMI

  • Loan amount – You will pay a higher EMI for the higher loan amount. Corporation Bank gives a minimum loan of ₹ 1 Lakh and a maximum loan amount of ₹ 2.50 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. Corporation Bank personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by Corporation Bank is 8.90%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period over which you can repay your loan in Corporation Bank. So, your EMI will be lower if you take a 36months loan from Corporation Bank as compared to a loan taken for 12months. The logic being that if you get a longer period to repay, you can repay in a smaller instalment.

Comparison of Corporation Bank Personal Loan EMI with other Banks

Bank Name Interest Rate Loan Amount of ₹ 1 Lakh Loan Amount of ₹ 5 Lakh Loan Amount of ₹ 10 Lakh
Corporation Bank8.90% ₹ 8,741 ₹ 43,703 ₹ 87,405
Andhra Bank 8.90% ₹ 8,741 ₹ 43,703 ₹ 87,405
Indian Bank 8.90% ₹ 8,741 ₹ 43,703 ₹ 87,405
PNB 8.95% ₹ 8,743 ₹ 43,714 ₹ 87,428
Allahabad Bank 9.05% ₹ 8,747 ₹ 43,737 ₹ 87,475

Corporation Bank Personal Loan Amortization Calculator

Corporation Bank Personal Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Corporation Bank 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 Personal Loan of ₹ 4.50 Lakh for 2 years from Corporation Bank at an interest rate of 8.90%. EMI calculated for this loan amount is ₹ 20,537 and the total annual EMIs to be paid annually is ₹ 2,46,450. The EMI schedule of loan for 2 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 4.50 Lakh over the 2 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2022 ₹ 23,075 ₹ 1,41,225 ₹ 1,64,300 ₹ 3,08,775
2023 ₹ 18,324 ₹ 2,28,126 ₹ 2,46,450 ₹ 80,649
2024 ₹ 1,501 ₹ 80,649 ₹ 82,150 -₹ 0

In the above illustration, on a Corporation Bank Personal Loan of₹ 4.50 Lakh, taken at the lowest interest rate of 8.90, EMI paid is ₹ 20,537 and an annual total of EMIs is ₹ 2,46,450, the interest component is ₹ 31,419 while the principal component is ₹ 2,15,031 in year 1 of loan disbursement. You repay only 47.78% of the total principal after paying 12 EMIs during the first year.

Corporation Bank Personal Loan Interest Calculator Formula

Corporation Bank calculates personal loan EMI based on the following formula

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

Here is an illustration of how Corporation Bank Personal Loan EMI is calculated:

In the above formula,

P = Loan amount.Corporation Bank personal loan amount can range from ₹ 1 Lakh to ₹ 2.50 Lakh.

r = Rate of interest per month. The current Corporation Bank Personal Loan rate is 8.90%.
n = Tenure in month. This can range up to 36months in case of Corporation Bank.

How to use Corporation Bank Personal Loan EMI Calculator

  • Corporation Bank personal loan calculator are online tool which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • Corporation Bank EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears meaning interest is charged for the month preceding the EMI payment date and not in advance.

Corporation Bank Personal Loan EMI for ₹ 1 Lakh

The following table shows Corporation Bank Personal Loan EMI for ₹ 1,00,000 for different tenures at an interest rate of 8.90%

Loan AmountInterest RateTenure(Year)EMI
₹ 1,00,0008.90% 1₹ 8,741
₹ 1,00,0008.90% 2₹ 4,564
₹ 1,00,0008.90% 3₹ 3,175
₹ 1,00,0008.90% 4₹ 2,484
₹ 1,00,0008.90% 5₹ 2,071

Corporation Bank Personal Loan EMI for ₹ 3 Lakh

The following table shows Corporation Bank Personal Loan EMI for ₹ 3,00,000 for different tenures at an interest rate of 8.90%.

Loan AmountInterest RateTenure(Year)EMI
₹ 3,00,0008.90% 1₹ 26,222
₹ 3,00,0008.90% 2₹ 13,692
₹ 3,00,0008.90% 3₹ 9,526
₹ 3,00,0008.90% 4₹ 7,451
₹ 3,00,0008.90% 5₹ 6,213

Corporation Bank Personal Loan EMI for ₹ 5 Lakh

The following table shows Corporation Bank Personal Loan EMI for ₹ 5,00,000 for different tenures at an interest rate of 8.90%.

Loan AmountInterest RateTenure(Year)EMI
₹ 5,00,0008.90% 1₹ 43,703
₹ 5,00,0008.90% 2₹ 22,819
₹ 5,00,0008.90% 3₹ 15,877
₹ 5,00,0008.90% 4₹ 12,419
₹ 5,00,0008.90% 5₹ 10,355

Corporation Bank Personal Loan EMI for ₹ 10 Lakh

The following table shows Corporation Bank Personal Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 8.90%.

Loan AmountInterest RateTenure(Year)EMI
₹ 10,00,0008.90% 1₹ 87,405
₹ 10,00,0008.90% 2₹ 45,639
₹ 10,00,0008.90% 3₹ 31,753
₹ 10,00,0008.90% 4₹ 24,838
₹ 10,00,0008.90% 5₹ 20,710

How to Pay Corporation Bank Personal Loan EMI?

There are various online & offline methods to pay your Corporation Bank Personal Loan EMI. To repay your Corporation Bank EMI online, you can log in to your net banking account or else you can also use the mobile banking of Corporation Bank. Corporation Bank also allows you to pay EMI through ECI or standing instructions or a cheque facility by visiting the nearest Corporation Bank branch.


Why should I calculate Corporation loan EMI before taking a loan?

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your Corporation Bank personal loan EMI. For instance, if you want to avail Corporation Bank personal loan at the lowest rate of 8.90% and your monthly EMI, which comes out at ₹ 3,175 is more than your monthly budget. You have the chance to apply for a lower loan amount that fits your monthly budget and makes EMI easily affordable. In addition, if you already know the EMI you have to pay each month, you can plan your expenses accordingly. Finally, based on the EMI amount, you can opt to make a prepayment of your loan in the future when you have a surplus amount.

What is the lowest EMI per lakh offered by Corporation Bank on a personal loan?

Corporation Bank offers a personal loan at a 8.90% interest rate for a maximum of 36 months, and hence lowest EMI per lakh loan amount is ₹ 3,175. However, Corporation Bank may offer a lower interest rate to you if you hold your salary account with the bank or if you are an existing customer.

How can I pre-close Corporation Bank personal loan?

You can pre-close your Corporation Bank personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of the balance amount that you have paid.

What are the prepayment charges on Corporation Bank ?

Corporation Bank offers you an option of prepayment after 0 months at Nil prepayment charges.You have to pay these charges if you decide to pay the loan amount before the due date.

Is there any processing charge on a personal loan from Corporation Bank?

Yes, Corporation Bank charges a certain amount of processing fee to process your loan application. Currently, Corporation Bank charges a processing fee of 1.5%, Min Rs. 500 on a Personal Loan.

Will I get a personal loan from Corporation Bank if I have a bad credit score?

No, for taking a loan from Corporation Bank, you must have a good credit score of 700 and above. Usually, most banks avoid giving loans if you have a low credit score.Also, availing a personal loan at low cibil score might fetch you a high Corporation Bank personal loan rate.

What is the EMI for a₹ 20 Lakh personal loan in Corporation Bank Bank?

At the current rate of 8.90%, EMI on Corporation Bank personal loan for loan amount ₹ 20 Lakh varies based on the loan tenure. For instance, for 2 year, 3 year and 6 years, EMI is ₹ 2,47,546, ₹ 2,59,387 and ₹ 2,96,558 respectively.

Can I have a co-applicant while applying for a Personal loan with Corporation Bank ?

Yes, you can opt for a co-applicant to take a personal loan from Corporation Bank that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in Corporation Bank personal loan?

If you have funds, then you can pay more than the regular EMI on your Corporation Bank Personal Loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my Corporation Bank loan EMI?

You can pay the Corporation Bank personal Loan EMI by using the ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque or can opt for automated deductions from your salary account.

Compare Personal Loan EMI of All Banks

Corporation Bank Personal Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 1800-425-2407
Ahmedabad 1800-425-2407
Ambala 1800-425-2407
Anand 1800-425-2407
Aurangabad Bihar 1800-425-2407
Bangalore 1800-425-2407
Bhilai 1800-425-2407
Bhilwara 1800-425-2407
Bhiwadi 1800-425-2407
Bhopal 1800-425-2407
Bhubaneswar Cuttack 1800-425-2407
Bikaner 1800-425-2407
Chandigarh 1800-425-2407
Chennai 1800-425-2407
Cochin 1800-425-2407
Coimbatore 1800-425-2407
Dehradun 1800-425-2407
Delhi 1800-425-2407
Durg 1800-425-2407
Faridabad 1800-425-2407
Gandhinagar 1800-425-2407
Ghaziabad 1800-425-2407
Goa 1800-425-2407
Greater Noida 1800-425-2407
Gurgaon 1800-425-2407
Guwahati 1800-425-2407
Gwalior 1800-425-2407
Hyderabad 1800-425-2407
Indore 1800-425-2407
Jabalpur 1800-425-2407
Jaipur 1800-425-2407
Jalandhar 1800-425-2407
Jodhpur 1800-425-2407
Kanpur 1800-425-2407
Karnal 1800-425-2407
Kolhapur 1800-425-2407
Kolkata 1800-425-2407
Kota 1800-425-2407
Kozhikode 1800-425-2407
Lucknow 1800-425-2407
Ludhiana 1800-425-2407
Madurai 1800-425-2407
Meerut 1800-425-2407
Mehsana 1800-425-2407
Mohali Sas Nagar 1800-425-2407
Mumbai 1800-425-2407
Mussoorie 1800-425-2407
Nagpur 1800-425-2407
Nashik 1800-425-2407
Noida 1800-425-2407
Noida Extn 1800-425-2407
Panipat 1800-425-2407
Patna 1800-425-2407
Pondicherry 1800-425-2407
Pune 1800-425-2407
Raipur 1800-425-2407
Rajkot 1800-425-2407
Ranchi 1800-425-2407
Rohtak 1800-425-2407
Roorkee 1800-425-2407
Salem 1800-425-2407
Shimla 1800-425-2407
Sonipat 1800-425-2407
Surat 1800-425-2407
Trichy 1800-425-2407
Udaipur 1800-425-2407
Vadodara 1800-425-2407
Varanasi 1800-425-2407
Vijaywada 1800-425-2407
Vizag 1800-425-2407

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Corporation Personal Loan News - May 2022
  • 2021-07-16 : UBI update on change in IFSC code for merged banks - Andhra Bank and Corporation Bank
    Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile e-Andhra Bank and e-Corporation Bank branches will change with effect from July 1, 2021. Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes
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