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Union Bank of India Business Loan EMI Calculator

Highlights

  • Things that include in calculation EMI amount.
  • Formula that help you to calculate exact EMI amount manually.

The Union Bank of India Business Loan EMI calculator is an automated tool designed to easily calculate the EMI amount for everyone. An EMI calculator is available online and is completely free which means you can use it as long as you are satisfied. Business Loan EMI calculator helps you analyze EMI amount, total interest amount and total amount payable.

EMI Calculator for Business Loan
Loan Amount (₹)
Interest Rate (%)
Tenure (Month)
Results
Loan Amount
Interest Rate
Tenure(Months)
Monthly Instalment (EMI)
Total Interest Amount
Total Amount (Principal + Interest)
YearPrincipalInterestBalance Amount

Specialisation that Involves in Calculation of EMI Amount

These are the three specialisations that helps us to calculate the exact EMI amount

Principal Amount:- The principal loan amount is the amount you have taken from the bank for your business expansion, renovation, construction, purchasing offices and many more.

Tenure Period:- This is the period for which you need a loan amount. You can choose a loan for up to 10 years as per your convenience.

Rate of Interest:- The rate at which the interest is charged on the amount borrowed. Its ranges starts from 9.50% p.a – 14.80% p.a.

Formula that helps in Calculating Exact EMI Amount

You can calculate using a simple mathematical formula. The EMI formula is simple and unique which helps in calculating the exact EMI amount. The three variables that help you calculate EMI manually are loan amount, interest and tenure.

E = P x R x (1 + R) ^ n / ((1 + R) ^ n-1)
P stands for Principal Amount
R stands for Interest Rate
N stands for the total number of months during the loan tenure.

People Also Look For  Kotak Mahindra Bank Business Loan EMI Calculator

Benefits of Using Business Loan EMI Calculator

  • Convenient to use
  • Fast Calculation
  • Graphic Representation 
  • Get quick results
  • Amortization Table

Benefits of taking Loan from Union Bank of India

Below points you can understand why to opt business loan from the Union Bank of India.

High Tenure Option:- As there are some banks which offer high tenure option, Union Bank of India is one of them which offers you a high tenure option to repay the loan amount up to 10 years.

Nationalised Bank:- All want loans at low interest, so always try to choose business loan from nationalized banks. They always charge low processing fees, low interest rates, low documentation fees and many more. 

Low Interest Rate:- You can afford business loan at the lowest interest rate that ranging from 9.50% p.a – 14.80% p.a. Before taking any loan, you should know all business loan interest rates and it will make your decision simple and easy.

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