Union Bank Home Loan Calculator (2026)
Calculate your Union Bank home loan EMI with amortization schedule, prepayment analysis, and complete repayment timeline.
Loan Details
📋 Quick Info
- 🏦Compare rates across banks
- 💡Prepay early to save lakhs
- 🛡️Tax benefit up to ₹3.5L/yr
Payment Breakdown
Principal vs Interest distribution
Home Loan Amortization Schedule
Month-wise payment breakdown for 20 years (240 months) — Showing Year 1
| Month | Date | EMI | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Jun 2026 | ₹21,459 | ₹4,063 | ₹17,396 | ₹24,95,937 |
| 2 | Jul 2026 | ₹21,459 | ₹4,091 | ₹17,368 | ₹24,91,845 |
| 3 | Aug 2026 | ₹21,459 | ₹4,120 | ₹17,339 | ₹24,87,725 |
| 4 | Sep 2026 | ₹21,459 | ₹4,149 | ₹17,310 | ₹24,83,577 |
| 5 | Oct 2026 | ₹21,459 | ₹4,177 | ₹17,282 | ₹24,79,399 |
| 6 | Nov 2026 | ₹21,459 | ₹4,207 | ₹17,252 | ₹24,75,193 |
| 7 | Dec 2026 | ₹21,459 | ₹4,236 | ₹17,223 | ₹24,70,957 |
| 8 | Jan 2027 | ₹21,459 | ₹4,265 | ₹17,194 | ₹24,66,692 |
| 9 | Feb 2027 | ₹21,459 | ₹4,295 | ₹17,164 | ₹24,62,397 |
| 10 | Mar 2027 | ₹21,459 | ₹4,325 | ₹17,134 | ₹24,58,072 |
| 11 | Apr 2027 | ₹21,459 | ₹4,355 | ₹17,104 | ₹24,53,717 |
| 12 | May 2027 | ₹21,459 | ₹4,385 | ₹17,074 | ₹24,49,332 |
How is Home Loan EMI Calculated?
The standard EMI formula used by all banks in India
EMI = [P × R × (1+R)N] / [(1+R)N − 1]Your Calculation
In simple words: EMI (Equated Monthly Installment) is the fixed amount you pay every month to the bank. It includes both the principal repayment and the interest charged on your outstanding loan balance. In the early years, most of your EMI goes towards paying interest. As the loan matures, more of your EMI goes towards reducing the principal amount.
📋 Quick Info
- 🏦Compare rates across banks for best deal
- 💡Prepay early to save lakhs in interest
- 🛡️Tax benefit up to ₹3.5L/yr (80C + 24b)
Union Bank of India Home Loan Interest Rates — May 2026
Current Union Bank of India home loan rates for salaried, self-employed, and NRI borrowers.
| Borrower Type | Interest Rate | Notes |
|---|---|---|
| Regular / Salaried | 7.15% onwards* | Best rate requires 750+ CIBIL |
| NRI Home Loan | ~7.70% onwards* | For Indian citizens residing abroad |
| Self-Employed | Typically +0.25–0.50% above salaried | Varies by income documentation |
*Rates indicative as of May 2026. Actual rate depends on loan amount, CIBIL score, and property type. Verify current rates on Union Bank of India's official website before applying.
Union Bank of India Home Loan Key Details
| Processing Fee | 0.50% (max ₹15,000) |
| Prepayment Charges | Nil on floating rate loans (RBI mandate) |
| Maximum Tenure | 30 years |
| Minimum CIBIL Score | 675 |
| NRI Eligibility | Yes — see NRI rate above |
Why Choose Union Bank of India? Key Advantage
Attractive rates for government employees and Union Awas scheme specifically designed for NRI home loan borrowers
Union Bank of India offers one of the lowest starting rates in the entire home loan market at 7.15% — tied with Canara Bank for the most competitive floor rate among large banks. Union Bank's Awas scheme is specifically designed for NRI borrowers, offering competitive rates and streamlined documentation for Indians residing abroad who want to purchase property in India. For government employees, Union Bank offers preferential rate tiers that can bring the effective rate below 7.5% for qualifying applicants.
Is Union Bank of India the Right Lender for You?
✅ Pros
Union Bank's 7.15% starting rate ties with Canara Bank as the lowest available. The Union Awas NRI scheme is specifically designed for Indians abroad who want to buy property in India — with streamlined documentation and dedicated NRI processing cells. Government employees benefit from preferential rate tiers that can bring the effective rate below 7.5%.
⚠️ Cons
Union Bank's digital infrastructure is less developed than private banks, and the online application process may require in-person branch visits for verification and document submission. Processing timelines are typically 3–4 weeks. Borrowers in metropolitan areas who value speed and digital convenience may prefer a private bank despite the higher rate.
Compare Union Bank of India against all major banks using our main home loan calculator.
Important Disclaimer
EMI calculations assume a fixed interest rate throughout the tenure. Actual EMI may vary based on floating rate changes, processing fees, and lender terms. This tool is for educational purposes only.