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Calculate UCO Bank Home Loan EMI

50000020000000
120
130
Total Payments-

₹5,000,000

Total Interest-
₹0
Principal Amount-
₹5,000,000
Total EMI

₹0

View Details
  • Loan Amount
  • Interest Rate
  • Your EMI
  • Tenure
  • ₹5,000,000
  • 6.9%
  • ₹0
  • 30
Updated:

UCO Bank Home Loan EMI Calculator Details

Taking home loans is a huge commitment due to the vast amount that needs to be paid during a particular tenure in the future. The entire procedure can be intimidating at times. Paying a certain amount on a monthly basis can be difficult at several points during the period. However, If you manage to plan your payable EMI monthly amounts before taking the loan, it can make the entire process smooth and hassle-free. 

If you intend to take a home loan from the UCO bank soon, do not forget to use the UCO bank home loan EMI calculator to figure out the best possible loan to take as per your affordability.


Here are all the details of the online EMI calculator that you may need while calculating your EMI before Applying for a Home Loan at UCO Bank.

Additional Info: Also Check LRD Loan

How to use UCO Bank Home Loan EMI Calculator?

The UCO bank EMI calculator home loan is an entirely online tool that you can use to calculate your monthly EMIs before taking a Home Loan from the UCO Bank. 

With the help of three simple steps, you can have a more organised experience of repaying your home loan.

  • The first thing that you need to put on the calculator is the entire loan amount that you intend to take from the bank.
  • After that, your interest rate is to be selected in the next space after the selection of your loan amount.
  • Your EMI rate mostly depends on the tenure period that you choose. After selecting your loan amount along with the interest rate, you will need to put the loan duration, which can be anything between 5 years to 30 years.
  • The exact total amount that you need to pay will pop up on the screen and give you an idea about your EMI rates. 

Additional Info: How to get Pradhan Mantri Awas Yojana

UCO Bank Home Loan Interest Calculator Formula

The formula that is followed by the UCO Bank home loan EMI calculator is quite simple. It depends entirely on the tenure that you select, the entire loan amount that you intend to take from the bank, and the interest rate that you select. The formula that is followed is p*r*(1+r)^n/([1+r)^n]-1).

Here, P stands for the principal amount, i.e. the entire loan amount. R stands for interest rate, and N stands for the tenure period that you select.

If you choose a short tenure, the monthly EMI will increase along with the entire payable amount. If you select a relatively longer tenure, your monthly EMI will decrease. However, in that case, your entire payable amount will increase with the process. 

The formula gives a 100% accurate result and makes sure you have an organised EMI routine planned for you.

Additional Info: Looking for 25 Lakh Home Loan? Check EMI & Apply.

Benefits of UCO Bank Home Loan EMI Calculator

The major benefit of using the UCO bank home loan EMI calculator is that it saves you a lot of time. Here are the benefits that you can get if you use the EMI Calculator before taking a home loan from the bank.

  • It is an online tool that you need to use before applying for a home loan. You do not need to visit the bank to get a detailed report of your monthly payable EMI if you use the online EMI calculator. Therefore, it saves a lot of time by bringing you the accurate result in a few seconds.
  • You can alter your tenure, interest rate, and the entire loan amount to figure out the best home loan plan that suits your budget.
  • By using the formula, the EMI calculator gives you an accurate result that you can rely on before taking a home loan.
  • After taking the loan, during the tenure, you can check your balance and the rest of the interest amount as well.

Additional Info: Looking for 10 Lakh Home Loan? Check EMI & Apply.

Why should you use UCO Bank Home Loan EMI Calculator?

Specifically, when you are taking a home loan, it is extremely important to calculate your monthly investments beforehand. 

Here are the major reasons why you should consider using the UCO Bank Home Loan EMI Calculator before taking a home loan:

  • The calculator gives you a 100% accurate EMI amount that you need to pay after you take the home loan from the UCO bank.
  • You have the freedom to choose different loan amounts, interest rates, as well as different tenures. With this feature, you can easily understand which plan is the most suitable for you out of them all. 
  • Calculating your monthly investments can save you from a lot of financial troubles in the future. You can plan your future investments based on your monthly amount.
  • Before you take the loan, you can calculate your monthly EMIs. And during the tenure, you can count your remaining loan tenure with the help of the calculator, which makes the entire repayment procedure even easier for you.

Irrespective of your situation, status, and background, not calculating your exact EMI amount can create a lot of financial trouble once you take a home loan from the bank. Try different combinations to choose the perfect plan and make your investment experience better in the long run.

Additional Info: You can also Check Banglarbhumi West Bengal Land Record

Comparison of UCO Home Loan EMI with other Popular Banks

It is always a good idea to Calculate Your Home Loan EMI before applying for a home loan from any bank. Different banks offer different interest rates in India. To ensure you get the best deal, go through different home loan plans offered by contemporary Indian banks before finally applying for one. Generally, the interest rate remains between 6% to 8%. Depending on your affordability, choose the best option that fits your budget. Take a look at the chart to understand the difference between the UCO bank home loan plans and other popular banks in India in recent times.

Bank NameLoan amount of 50 LakhLoan Amount of 30 LakhInterest Rate
UCORs. 32,930/-Rs. 19,758/-6.90%
SBI Rs. 32,098/-Rs. 19,259/-6.65%
HDFCRs. 32,264/-Rs. 19,358/-6.70%
ICICIRs. 32,264/-Rs. 19,358/-6.70%
AXISRs. 32,098/-Rs. 19,259/-6.65%

Different banks offer different Home Loan Interest Rates based on which the monthly EMI rates are calculated. The HDFC Bank and the ICICI Bank offer an interest of 6.70%. The Axis bank offers an interest of 6.65%. The UCO bank offers a 6.90% interest rate which is similar to most of these popular banks. Based on your budget and future affordability, choose the home-loan plan that suits you.

Additional Info: Bandhan Bank Home Loan at 6.40% p.a. Apply Now

UCO Bank Home Loan EMI Calculator to Estimate the EMI that fits your budget

It is extremely important to fully understand the entire home loan plan before applying for one. If you can afford it, choose shorter tenures, for it will be over soon. However, you can choose the longer tenures as long as it fits your budget. Use the UCO bank home loan EMI calculator wisely to figure out which plan suits your demands the best and apply wisely.

Take a look at the chart to fully understand your budget and the plan that will suit your affordability in the long run.

Loan amount30 years20 years15 years
1 cr65,860/-76,931/-89,325/-
75 lakh49,395/-57,698/-66,994/-
50 lakh32,930/-38,465/-44,462/-
25 lakh16,465/-19,233/-22,331/-

When you choose a short tenure, the monthly payable EMI remains on the higher side and vice versa. The entire payable amount increases when you select a short tenure in comparison to longer tenures.

Additional Info: Looking for 50 Lakh Home Loan? Check EMI & Apply

Factors affecting UCO Home Loan EMI

There are several factors that directly affect your EMI. you should try and alternate these amounts to figure out which loan plan suits you the most.

  • Interest rate is one of the major determining factors of EMI rates. When the interest rates remain on the higher side, the EMI automatically increases by the end of the tenure. The UCO Bank keeps its interest rate at 6.90% for all its customers. Before taking a home loan, go through all their plans to determine which plan is the ideal one for you.
  • The entire loan amount also has a huge role to play in calculating your EMI amount. Your monthly payable EMI amount automatically increases when the loan amount is bigger and the tenure is short. Interest rates also increase when the loan amount is on the bigger side.
  • The tenure period that you select before taking a home loan also plays a major role in determining how much you will have to pay by the end of the plan. The shorter the tenure is, the more you have to pay on a monthly basis. The longer the tenure is, the less you have to pay monthly. However, when you select a longer tenure of 20-30 years, the entire payable amount also increases.

Additional Info: Also check HDFC Home Loan EMI Calculator

What the Home  Loan EMI calculator cannot tell you

The home loan EMI Calculator is a good tool to calculate your EMI before applying for a home loan. However, there are certain factors that cannot be pre-determined by the tool.

  • The UCO bank home loan EMI calculator only requires your interest, tenure, and loan amount. It also requires your personal and professional details to determine whether or not you are eligible to take a home loan from the bank. Different banks have different eligibility criteria when it comes to home loans. At times, EMI calculators fail to determine your full eligibility. You can be underage or have less Credit Score or multiple dependants. These factors cannot be determined by an EMI calculator.
  • A home loan hardly brings profits to you. Home loans are huge. Interest rates add up to it and make them even bigger. While you pay the EMI after your tenure gets over, you may lose out on many opportunities due to your financial condition. An EMI calculator cannot tell you that beforehand. 
  • Some banks allow their customers to change their interest rates in the middle of a tenure. On the other hand, some banks do not allow that. Whether you can make bigger payments as interest cannot be determined by an EMI calculator either.

Additional Info: You can also Check AnyRoR Gujarat Land Record

Amortization Table

YearOpening BalanceAmount paid by customer (EMI*12)Interest paid during the yearPrincipal paid during the yearClosing Balance

FAQs

✅ Will the interest rate remain the same during the entire tenure after I take a home loan?

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If you take a floating rate loan, then the rate can change in the middle of your tenure and you will have to follow the updated interest rate for the rest of the period. If you take a fixed-rate loan, the interest rate will remain the same during the entire tenure.

✅ Will the UCO Bank EMI change if I make prepayment?

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UCO Bank allows prepayment at a nil charge if you select the floating-rate loan plan. If you make a prepayment, the principal loan amount reduces. 

✅ What is the interest rate offered by the UCO Bank for home loans?

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The UCO Bank offers an interest rate of 6.90% to the customers when they take a home loan from the bank. 

✅ What will be my monthly EMI if I take a 10 lakh home loan from the UCO Bank?

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Your monthly EMI depends on the tenure you select. For a tenure of 20 years, your monthly EMI will be around Rs. 7,693/-.

In case you select a tenure of 10 years, your monthly EMI will be Rs. 11,569/-

✅ Does the UCO Bank EMI Calculator give an accurate result?

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The EMI calculator collects your entire loan amount along with the selected tenure and interest rate to make sure it gives you the exact EMI amount before you apply for a home loan at the bank. The online calculator follows p*r*(1+r)^n/([1+r)^n]-1) to give you a 100% accurate result. It can also tell you your remaining balance and interest rates during your tenure after you take a home loan.