# Union Bank of India Personal Loan EMI Calculator

₹ 50k ₹ 50L
6.0% 30.0%
6 months 30 years
Principal Amount
Interest Amount

Monthly EMI

Principal Amount

Interest Amount

Tenure (Month)

Total Amount

## 2024

Month Principal Paid Interest Charged Total Payment Balance
Aug ₹3,942.44 ₹500.00 ₹4,442.44 ₹46,057.56
Sept ₹3,981.86 ₹460.58 ₹4,442.44 ₹42,075.70
Oct ₹4,021.68 ₹420.76 ₹4,442.44 ₹38,054.01
Nov ₹4,061.90 ₹380.54 ₹4,442.44 ₹33,992.11
Dec ₹4,102.52 ₹339.92 ₹4,442.44 ₹29,889.60

## 2025

Do you want to know the EMIs on your Union Bank of India personal loan? If the answer is YES, all you need to do is use the Union Bank of India Personal Loan EMI Calculator. The tool with simple algorithms calculates your EMI, Interest outgo, and the total payable amount for a personal loan .

## How to Use Wishfin Union Bank of India Personal Loan Calculator?

The Personal Loan EMI Calculator from Union Bank of India provides an efficient way to calculate your monthly repayments, interest outgo, and the total amount payable on a loan. This user-friendly tool operates on a straightforward algorithm, delivering results quickly. It requires the following information:

• Loan Amount
• Tenure
• Interest Rate

Once you input these details into the calculator, it swiftly processes them and provides the results. Additionally, the calculator features graphical representations to help you better understand the financial breakdown of your loan.

### Union Bank of India Personal Loan EMI Calculation Formula

The Union Bank of India Personal Loan EMI Calculator uses the below formula to calculate your EMI amount.

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

where,

EMI = Equated Monthly Installment

P = Principal Loan Amount

R = Monthly Interest Rate

N = Number of Monthly Installments

Let’s take an example. If the principal amount is ₹2.5 lakh with an interest rate of 11.5% and a tenure of 5 years, the EMI will be calculated as follows:

• Principal Amount (P): ₹2,50,000
• Interest Rate (R): 11.5% per annum (which is 11.5/12/100 = 0.0095 per month)
• Loan Tenure (n): 5 years, or 60 months

Let’s see how to calculate it:

[2,50,000 x 0.0095 x (1 +0.0095) ^ 60]/[(1+0.0095) ^60 -1] = 5498

The EMIs you will be required to pay is ₹ 5,498

## Union Bank of India Personal Loan Amortisation Schedule

If you want to know more about the Personal Loan EMI Calculator tool , have a look at the example below to get clarity on the same.

Suppose Neha, a 28-year-old MNC manager who works in a reputed Company, is looking for a personal loan of INR 15 Lakh for her marriage expenses. She applied for a personal loan at Union Bank of India . The bank approves the request and offers her a personal loan interest rate of 11.80% per annum for 5 years. But Neha is worried about the EMIs, so she wants to use the Union Bank of India Personal Loan EMI Calculator to find her answers. See the table below and know what happens in Neha’s case.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount
₹ 15,00,000 11.80% 1 ₹ 1,33,133 ₹ 97,595 ₹ 15,97,595
₹ 15,00,000 11.80% 2 ₹ 70,470 ₹ 1,91,285 ₹ 16,91,285
₹ 15,00,000 11.80% 3 ₹ 49,678 ₹ 2,88,419 ₹ 17,88,419
₹ 15,00,000 11.80% 4 ₹ 39,354 ₹ 3,88,974 ₹ 18,88,974
₹ 15,00,000 11.80% 5 ₹ 33,215 ₹ 4,92,916 ₹ 19,92,916

EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

Year Principal Interest Balance Amount
1 ₹ 2,33,968 ₹ 1,64,614 ₹ 12,66,031
2 ₹ 2,63,120 ₹ 1,35,463 ₹ 10,02,910
3 ₹ 2,95,904 ₹ 1,02,679 ₹ 7,07,006
4 ₹ 3,32,772 ₹ 65,811 ₹ 3,74,234
5 ₹ 3,74,557 ₹ 24,349 ₹ 0

## What is the EMI of a 1 Lakh Personal Loan in Union Bank of India?

Below, we have calculated the EMI for a 1 lakh Union Bank of India personal loan over a tenure of 5 years. This calculation is based on the lowest and highest interest rates charged by Union Bank of India on their personal loans.

Year Monthly EMI @10.95%p.a Monthly EMI @15.45% p.a
1 ₹8835.83 ₹9047.08
2 ₹4658.46 ₹4870.07
3 ₹3271.50 ₹3488.61
4 ₹2582.12 ₹2805.94
5 ₹2171.75 ₹2402.68

## What is the Minimum EMI Offered by Union Bank on Home Loans?

For various loan amounts, the EMIs for  Bank Personal Loan at interest rates of 11.35% and 15..45% over five years are:

Interest Rate of 11.35%

Interest Rate of 15.45%

1 lakh loan amount - ₹2,191.74 p.m.

1 lakh loan amount -  ₹2,402.68 p.m.

3 lakh loan amount - ₹6,575.21 p.m.

3 lakh loan amount -  ₹7,208.04 p.m.

5 lakh loan amount - ₹10,958.69 p.m.

5 lakh loan amount -  ₹12,013.40 p.m.

7 lakh loan amount - ₹15,342.16 p.m.

7 lakh loan amount -  ₹16,818.75 p.m.

9 lakh loan amount - ₹19,725.64 p.m.

9 lakh loan amount -  ₹21,624.11 p.m.

## Advantages of Union Bank of India Personal Loan EMI Calculator

The personal loan EMI calculator comes with the following benefits.

• Time-efficient: The Union Bank of India Personal Loan EMI Calculator tool saves your time in the calculation by generating instant EMI.
• Easy to use: Anyone can use the Union Bank of India Personal Loan EMI Calculator tool by entering the loan details inside the EMI calculator.
• 24X7 availability: You have the convenience of using the tool anytime on your smartphone, laptop, or desktop.
• Error-free result: Your EMI amount is free from errors as it works on a mathematical formula.

## Union Bank of India Personal Loan Eligibility

You are required to meet the following eligibility criteria in order to apply for a personal loan with Union Bank of India:

Union Personal Loan (Under Tie-up) Scheme:

• Applicants must be confirmed or permanent employees of well-known private organizations or institutes in India.
• The organization or institute should be located within the jurisdiction of the respective ZLCC.
• Applicants must be at least 18 years old.
• Applicants must have sufficient remaining service time to repay the full loan amount before retirement.
• Union Bank of India staff and government employees are not eligible.

Union Personal Loan (Under Non Tie-up) Scheme:

• Applicants must be confirmed or permanent employees of reputable private organizations or institutes in India.
• Applicants must have been customers of Union Bank of India for at least six months prior to applying.
• Applicants must hold a salary account with Union Bank of India.
• Applicants must be at least 18 years old.
• Applicants must have sufficient remaining service time to fully repay the loan before retirement.
• Union Bank of India staff and government employees are not eligible.

For Non-Salaried Individuals:

• Applicants must be between 25 and 60 years old at the end of the loan term.
• Applicants must have a steady income.
• Applicants must have been customers of Union Bank of India for at least 24 months prior to applying.
• Applicants must maintain a current or savings account with Union Bank of India, with an Average Quarterly Balance of at least Rs.25,000 for the four quarters immediately preceding the application.

For Government Employees:

• Applicants must be permanent or confirmed employees. They can be employed at State or Central Government organizations. They can also work at Public Sector Units or government undertakings. Other eligible workplaces include government departments or ministries.
• Employees can be from the armed forces, or teaching or non-teaching staff at government institutions. Officers in All India Services and Defence personnel are also eligible.
• Applicants must be at least 18 years old.
• Applicants must be the primary applicant for the loan.
• Applicants must open a salary account with Union Bank of India.

## Factors that Impact Union Bank of India Personal Loan EMI

Here are the crucial factors that affect the EMI of your personal loan with Union Bank:

• Income: The borrower's income plays a crucial role in determining loan eligibility and EMI. Higher income may lead to more favorable loan terms and potentially lower EMIs.
• Credit score: A good credit score (750 or above) can help secure lower interest rates, which in turn reduces the EMI.
• Employment status and employer reputation: Job stability and working for a reputed company can positively impact loan terms and potentially lower EMIs.
• Existing credit obligations: Current loans or credit card debts can affect the loan amount and interest rate offered, thereby impacting the EMI.
• Location: The borrower's location can influence the minimum salary requirement for loan eligibility, which indirectly affects the EMI.
• Relationship with the bank: Existing customers of Union Bank of India may have an advantage in negotiating better loan terms, potentially resulting in lower EMIs.

## Union Bank of India Fees and Charges

Here are the main fees and charges associated with Union Bank of India:

• Union Personal Loan (For Salaried, Non-Salaried, and Government Employees):

A processing fee of 1% of the loan amount is charged, with a minimum fee of Rs 500 and a maximum of Rs. 7,500.

• SRLG Scheme:

No processing charges.

• Union Cash (For Pensioners):

The processing fee is 0.10% of the loan amount, with a minimum of Rs 100.

• Special Union Cash Scheme (For BSNL/MTNL VRS Optees/Retired Employees):

Loans up to Rs. 4 lakh: Rs. 500 processing fee.

Loans above Rs. 4 lakh and up to Rs. 6 lakh: Rs. 1000 processing fee.

• Union Women Professional Personal Loan Scheme (UWPPL):

No processing charges.

In case of delayed payment, a penal interest of 2% per annum is charged on the overdue amount, in addition to the applicable interest rate.

There is no prepayment penalty if the loan is repaid from the borrower’s own verified legitimate sources.

## Limitations of Using Union Bank of India Personal Loan EMI Calculator

Here are the key limitations of using the Union Bank of India Personal Loan EMI Calculator:

• The calculations assume static loan conditions that may not reflect future changes in interest rates or loan terms.
• The personal loan calculator does not account for processing fees, application fees, or any hidden charges that might affect the total loan cost.
• It assumes a constant interest rate, which might not apply to loans with variable rates.
• The calculator does not consider the borrower’s credit score, which can significantly affect the actual interest rate offered.
• It provides general results that might not reflect personal financial situations or loan options available