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UCO Bank EMI Calculator

Calculate your Equated Monthly Installments by using our EMI calculator. Do enter here the principal loan amount you obtained from UCO bank, rate of interest, and the loan tenure you agreed for to calculate the Equated Monthly Installments (EMI). The calculator also calculates the total amount you are about to pay for the loan amount you obtained along with the interest amount and yearly interest.

Calculate Equated Monthly Installments for UCO Bank Loan

% Per Annum

Calculate your Equated Monthly Installments by using our EMI calculator. Do enter here the principal loan amount you obtained from UCO bank, rate of interest, and the loan tenure you agreed for to calculate the Equated Monthly Installments (EMI). The calculator also calculates the total amount you are about to pay for the loan amount you obtained along with the interest amount and yearly interest.

Formula:

r = r / 1200 Monthly EMI = (a x r) / (1 - (1 / (1 + r))m) Total Amount with Interest = Monthly EMI x m Total Interest Amount = Total Amount with Interest - a Yearly Interest Amount = Total Interest Amount / (m / 12) Where, a = Loan Amount r = Interest Rate (Reducing) m = Loan Tenure

Example

Consider that you about a loan amount of Rs.2 lakh for a period of 1 year with an interest rate of 8% from UCO bank. Calculate the Equated monthly installment (EMI)?

Interest Rate

Applying the values in the formula,
IR = r = r / 1200
IR = 8 / 1200 = 0.00666

Monthly EMI

MEMI = (a x r) / (1 - (1 / (1 + r))m)
MEMI = (200000 x 0.00666) / 1 - (1 / (1 + 0.0066))12)
MEMI = 1332 / 1 - 0.92343483753
MEMI = 17396.94

Total Amount with Interest

TAI = Monthly EMI x m
TAI = 17396.94 x 12
TAI = 208763.35

Total Interest Amount

TIA = Total Amount with Interest - a
TIA = 208763.35 - 200000
TIA = 8763.35

Yearly Interest Amount

YIA = Total Interest Amount / (m / 12)
YIA = 8763.35 / (12 / 12)
YIA = 8763.35

UCO bank is the Indian public bank provides complete banking solution for personal banking, corporate banking, rural banking, SME banking and much more established in January 6, 1943. The bank has its headquarters in Kolkata.