Union Bank of India EMI Calculator

Calculate your Equated Monthly Installments by using our EMI calculator. Do enter here the principal loan amount you obtained from Union Bank of India, 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 Union Bank of India Monthly Loan EMI

% Per Annum

Calculate your Equated Monthly Installments by using our EMI calculator. Do enter here the principal loan amount you obtained from Union Bank of India, 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.

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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.3 lakh for a period of 1 year with an interest rate of 9% from Union Bank of India. Calculate the monthly EMI?

Interest Rate

Applying the values in the formula,
IR = r = r / 1200
= 9 / 1200 = 0.0075

Monthly EMI

MEMI = (a x r) / (1 - (1 / (1 + r))m)
= (300000 x 0.0075) / 1 - (1 / (1 + 0.0075))12)
= 2250 / 1 - 0.91423815495
= 26235.4430305

Total Amount with Interest

TAI = Monthly EMI x m
= 26235.4430305 x 12
= 314825.316366

Total Interest Amount

TIA = Total Amount with Interest - a
= 314825.316366 - 300000
= 14825.316366

Yearly Interest Amount

YIA = TIA / (m / 12)
= 14825.316366 / (12 / 12)
= 14825.316366

Union Bank of India is one of the largest government-owned banks of India. UBI was founded in November 11, 1919. The bank has representative offices in Abu Dhabi, United Arab Emirates, Beijing, Peoples Republic of China, London, Shanghai, and Sydney, and branches in Hong Kong, Dubai and Antwerp, Belgium.

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