Use UBI Personal loan EMI Calculator to Estimate ones loan EMI

If someone finds difficulty in purchasing goods or any other financial need at that time you require a lump-sum amount and personal loans fulfill your requirement. Union Bank Of India is the largest government-owned bank in India. The bank provides a wide range of banking products and one such product is a personal loan. You can easily apply for a loan and repay the loan amount in monthly EMIs, at a lower interest rate on Union Bank of India. You can easily calculate the loan EMI using UBI personal loan EMI calculator, but how it works find in the article.

What is UBI calculator and how to use it?

Union Bank of India to ease the loan procedure for the customers provide a loan EMI calculator, it helps in estimating the monthly EMIs of a loan amount. You can easily use the UBI Personal loan EMI calculator as it does not have a complex procedure, just insert your loan details such as borrowed amount, interest rate and the loan duration. After that you will get the EMI of your loan amount.

Benefits of UBI personal loan

The bank offers various schemes for personal loan depending on the eligibility and income flow of an individual. Some benefits you will get from Union bank on personal loans schemes are as follows:

• You can apply for a loan amount of INR 5,000,00 if you are a new or first-time borrower.
• The existing borrowers with a good repayment record can apply for a loan amount of RS. 10,000,00. 
• Union bank loan processing fees is 0.50% of the loan amount, subject to minimum Rs.500.
•  The maximum repayment period for the loan amount is 5 years.
• Whether you are salaried, self-employed or non-employed you can easily apply for UBI personal loan.
• Simply know your loan EMI using the UBI Personal loan EMI calculator.
• Union Bank offered you loan at an attractive interest rate of 12.70% to 13.70%.
• The bank does not require any collateral or asset for loan approval.
• Easy repayment option is available for the loan repayment such as EMI, post-dated cheques, auto-debit, etc.

UBI personal loan eligibility

To get a personal loan from Union Bank of India, you need to fit in the eligibility criteria. Eligibility for UBI personal loan is as follows:

• The minimum age of the salaried applicant is 18 years to apply for a loan.
• Applicant must have a reasonable residual service to ensure that the loan is repaid before retirement. 
• The applicant should be a customer of union bank for at least 6 months to consider the loan proposal. 
• The individual must have a guarantor for loan approval such as spouse or co-employee if the applicant is unmarried. The 3 party guarantor must have a CIBIL score of 700 and above. 
• Applicant should maintain a salary account with union bank.
• Applicant must be an Indian citizen.

This is the required eligibility by Union Bank of India to avail a personal loan.