UCO Bank personal loans are affordable and hassle-free with EMIs starting from Rs.2,197 per lakh. The interest rate on the UCO Bank personal loan starts from 11.45% p.a.
|Rs.3 lakh @14.22% p.a.||2 years||3 years||5 years|
|Equated Monthly Instalment (EMI) (Rs.)||14,435||10,285||7,015|
|Total Interest Payable (Rs.)||46,442||70,273||1,20,884|
|Processing Fee (Rs.)||3,000||3,000||3,000|
|Total Amount Payable (Rs.)||3,49,442||3,73,273||4,23,884|
Example – If you take a personal loan of Rs.3 lakh from UCO Bank at an interest rate of 14.22% p.a., with a processing fee of 1% of the loan amount. Then, the loan repayment details for different tenures are shown above.
Using this tool is very easy since it does not involve complex calculations where the output is provided instantly. Before using the EMI Calculator, you would require basic information from the proposed loan such as the loan amount, interest rate, processing fee percentage and the tenure.
Once you have the required details handy, follow 4 easy steps below to ascertain the installment amount and other financials.
You now have all the required details which includes the EMI amount, breakup of charges and an repayment table which offers a salient breakup of components for each month, until the end of the tenure.
Provides the EMI Amount
The basic purpose of using this tool is to understand the installment amount which helps you to gauge the impact of loan repayment on your monthly budget. It also helps in choosing an appropriate loan term to suit your monthly finance.
This table offers comprehensive information about the loan schedule and acts as a statement which provides a detailed breakup of the installment payable each month and tells you how much will be owed after each payment. This helps in making key decisions regarding the loan such as early closure before end of the tenure.
Breakup of Charges
It's important to understand the incidence of interest charges and choose the terms accordingly. The pie chart offered by this tool offers a comprehensive breakup of interest charges and fee (if any) to help you understand the financial obligation.
The figures provided by this tool is nearly accurate since the formula used is universal. However, there may be slight difference due to incidence of various other charges. You can cross check the calculations with the bank for confirmation.
Yes, this tool does come handy in comparing loan offers from all other banks. Follow the same procedure to have the required output.
There are dedicated calculators under the “Finance Tools” section of this website for other loan products.
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