Union Bank of India offers home loans at interest rates starting from 6.80% p.a. The bank offers longer loan tenures of a maximum of 30 years combined with low EMIs of Rs. 652 per 1 lakh. This allows borrowers to enjoy a flexible repayment period. Borrowers can also get up to Rs. 30 lakhs as a loan towards home repairs. The bank also offers a complete waiver of a prepayment penalty on floating rate loans.
Why Use Union Bank of India Home Loan EMI Calculator?
Calculating the Equated Monthly Instalments (EMIs) payable towards a home loan is very important. Union Bank of India Home Loan EMI Calculator is an online tool that can help you in getting an idea about the EMIs to be paid to the bank throughout the loan tenure. Some of the noteworthy features of the EMI calculator are:
- The calculator takes into account certain basic parameters like the principal, rate of interest, loan tenure and processing fee (if any) while calculating the EMI for a home loan.
- It also provides a break-up of the total EMI amount payable through the loan tenure and an amortisation schedule with a complete list of monthly as well as annual repayments.
- Users can enter different tenures to gauge the impact of total home loans on monthly EMIs. This will allow them to execute better financial planning.
- One can also calculate the outstanding loan balance using the EMI calculator.
It is advisable for borrowers to calculate their home loan EMI for the Union Bank of India home loan before applying.