Union Property Loan EMI Calculator – Know your EMI and Eligibility

Home Loan EMI is a fixed sum that you submit to Union Bank of India against repayment of loan taken. The customers have to pay their EMI every month on a scheduled day until their home loan is completely paid off. The smallest EMI payable per lakh to the Union Bank of India is Rs. 751. The Union Bank of India offers Loan against Property called Union Mortgage to individuals do that they can meet any sort of financial expenses both private and commercial in nature.

EMI is really the primary payment and interest payment in the Union Bank of India house loan. The interest share of the loan in the early years is more than the principal value. EMI remains constant throughout the repayment period, but interest rates in the loan continue to decrease while the major component continues to increase apart from interest rate changes on the Home Loan.

With a fluctuating interest rate at 8.25% in the case of adjustments in the Union Bank of India, there are two options:

  1. Stable EMI and loan term adjustments
  2. Decreasing EMI and maintaining the same lending tenure

If you pre-paid a home loan of Union Bank of India, you have either the same choice to keep the EMI same and decrease the term of the loan or to raise the EMI and maintain the same term.

Union Bank of India Home Loan Calculator Formula


Home EMI loans are based on the volume of loans, interest, and duration of the loan.

  • Amount of Loan: The amount of home loans ranges from Rs. 1 500,000 to Rs. 50,000,000. High loans result in high EMI levels
  • Interest rate: Home loans are offered at 8.25% to 8.85% of interest rate by Union Bank of India. If the interest rate decreases, the EMI home loan would be smaller.
  • Lending tenure: Lending depends on the current age of the borrower and his retirement age. For the periods of at least 30 years, Union Bank of India offers home loans. Increasing the loan tenure, lower will be the EMI.

Must Check – Plan your Business Loan with EMI Calculator Formula

EMI Calculator Union Bank of India calculates EMI using below formula:

[P x R x (1+R)^N]

EMI amount =        ———————-


  • Where P refers to the principal loan amount
  • r indicates the monthly interest rate
  • n means loan tenure in months

Factors to Consider for Union Bank of India Loan Against Property Eligibility:


While applying for a loan against property in the Union Bank of India, the bank accepts the loan against property on a few eligibility criteria

  • Borrower’s Age: The age of application for Union Bank of India Loan Against Property is 18 to 60 years.
  • Earnings of applicants: Income helps determine your loan repayment ability. Union Bank of India provides loans to individuals whose total net income is up to Rs.10 lakh. If the eligibility of your personal loan against property is less than the loan you need, you can add the income of earning family members.
  • Amount of Loan: Applicants in Union Bank of India may seek a loan of minimum Rs. 1, 000,000, and up to a limit of Rs. 100, 000,000 for Loan Against Property.
  • Tenure of Loan: The longer you choose, the more you are eligible for a loan against property. Union Bank of India grants you loans for a period of up to 144 months towards land.


Natraj Studied bachelor's degree in finance and business from Telangana University, Nizamabad. A Writer based In India, He has a degree in Charted Accounts and has very knowledgeable in credit repair and Banking Sectors. So, I decided to start a blog and share my knowledge to the visitors.

Leave a Reply

Your email address will not be published. Required fields are marked *