Union Bank Loan Against Property (LAP) Calculator

Union Bank of India Loan Against Property EMI or equated monthly instalment is a fixed amount of money paid to the bank every month on a fixed day until your loan is fully paid back. Union Bank of India Loan Against Property EMI Calculator computes monthly EMIs on your loan until it is paid in full. It uses mathematical algorithms to accurately describe your loan EMIs based on factors such as loan amount, property value, repayment term, etc.

Why Should You Use a Union Bank LAP EMI Calculator?

Union Bank LAP EMI calculator should be used for the following reasons:

• You can compare the EMI on your loan against property with different loan tenures and amounts using the Union Bank of India LAP EMI Calculator. To calculate the EMI, you must first check the interest rate on the Union Bank of India loan against property. Union Bank of India currently offers the lowest EMI per lakh of 1,207 at 10.20%.
• You can also use the Union Bank of India loan EMI Calculator to estimate your loan against a property compared to other banks for the same loan amount and tenure. You can select the most reasonable offer based on the Union Bank of India Loan against Property EMI.
• The Union Bank of India loan against property calculator allows you to divide total EMIs into interest and principal repayments at various points throughout the loan term.
• Finally, you can use the Union Bank of India EMI Calculator to determine the remaining loan tenure for any outstanding balance. As a result, it can assist you in reducing your loan tenure through prepayment or foreclosure or in obtaining a loan at a lower rate through a balance transfer.

Factors Affecting Union Bank Property Loan EMI

An individual can use the loan against the property EMI calculator Union Bank multiple times to calculate their, keeping in mind the following factors affecting EMI.

Amount

If you apply for a more significant loan amount, your EMI on Union Bank LAP will be higher. Union Bank LAP is available for amounts ranging from INR 10,00,000 to 10,00,00,000.

Interest Rate

A higher interest rate raises your Union Bank LAP EMI, which increases the overall cost of the loan. According to current rates, Union Bank offers loans against property starting at 10.20%. Before applying for a loan, you should compare LAP rates and EMIs using the Union Bank of India loan against the property calculator.

Tenure

If you take out a mortgage loan for a maximum term of 12 years, your EMI will be lower; however, if your term is shorter, your EMI will be higher.

Comparison of Union Bank Loan Against Property EMI with other Banks

A comparison has been made in the table below between the Union bank LAP EMI and other banks:

Bank Name	Interest Rate	Loan Amount of 10 lakhs  (in INR)	Loan Amount of 30 Lakhs  (in INR)	Loan Amount of 50 Lakhs  (in INR)
Union Bank of India	10.20%	12,067	36,200	60,333
Punjab and Sind Bank	10.25%	12,096	36,287	60,478
Canara Bank	10.35%	16,783	50,348	83,913
Indian Bank	10.50%	16,861	50,582	84,303
Dhan Laxmi Bank	10.60%	11,116	33,348	55,580
ICICI Bank	10.60%	11,116	33,348	55,580
Andhra Bank	10.75%	13,634	40,902	68,169
United Bank of India	10.75%	16,991	50,974	84,956
Oriental Bank of Commerce	10.95%	13,747	41,240	68,734
Cholamandalam	11.00%	11,366	34,098	56,830
Federal Bank	11.00%	13,775	41,325	68,875
Lakshmi Vilas Bank	11.00%	13,775	41,325	68,875
Karnataka Bank	11.28%	11,542	34,627	57,712
Corporation Bank	11.35%	13,974	41,922	69,869
Piramal Housing Finance	11.50%	10,664	31,993	53,321
Central Bank of India	13.75%	15,377	46,130	76,883
Allahabad Bank	14.15%	16,422	49,265	82,108

Loan Against Property Amortisation Calculator

The amortisation schedule divides the principal and interest amount you will pay in the form of EMIs into monthly payments. In other words, with each monthly EMI, the share of interest and the principal amount change, with the former decreasing and the latter increasing. As a result, if you decide to pay off your loan early, you will discover that you have only paid a small portion of the principal amount.

Union Bank Loan Against Property Fees and Charges

Union Bank loan against property fees and charges are mentioned below:

Term Loan	1% of the loan amount -Minimum INR 5000; Maximum INR 1 lakh For Staff Members: 0.25% of loan amount
Union Mortgage (secured overdraft)	0.25% of loan amount with no minimum charges; Maximum: INR 1 lakh For Staff: NIL

Note: The fees and charges mentioned above are as of January 2023.