Use of United Bank of India Personal Loan EMI Calculator For Different Purposes

Affordable United Bank of India personal loan interest rate is one of the key reasons behind the popularity of a personal loan from United Bank of India among customers. Since interest rates on a personal loan directly impact your repayment amount (EMI amount), it is important to keep a close eye when choosing the suitable personal loan interest rates for you. But there is one tool that is often ignored by the customers that can prove to be beneficial for different purposes - the United Bank of India personal loan EMI Calculator.

As the name suggests the primary purpose of this tool is to have an estimate of the EMI amount. An individual just needs to put a few basic details into the tool, and it will give you results within a second. One of the amazing things about this tool is that any individual can use this tool without any hassle. Also, you can be assured about the accuracy this tool provides. In this article, we will be telling you about all the different purposes for which you can seek help from the United Bank of India personal loan EMI calculator. Keep reading to know more!

Use United Bank of India Personal Loan EMI Calculator to Know Different Things

As we told the United Bank of India personal loan EMI calculator can be used for different purposes other than having an estimate about their EMI amount. If we were to talk about the United bank of India personal loan interest rate, it usually ranges from 8.95% to 14.00% per annum that will vary from one individual to another depending on different factors such as age, monthly income, employment type, job history, location, credit score, etc. 

Below, we are showing some of the purposes where you can use the EMI calculator such as choosing a suitable tenure, savings in personal loan balance transfer, prepayment of the loan, choosing the suitable interest rate, etc. Have a look!

Choosing a Suitable Tenure

Personal loans are generally taken for a period of 12 to 60 months. But when choosing a loan, it is important to choose the tenure according to your repayment capacity. That’s where the United Bank of India personal loan EMI calculator can help you. When you put the required loan amount and interest rate, and two different tenures into the calculator, you will find out that your EMI amount is lower on choosing a longer tenure as compared to shorter tenure. But remember that your interest outgo will be higher when you choose a longer tenure. So, you can choose accordingly with the help of this tool.

Estimate your Savings when Going for Balance Transfer Facility

Do you know that you can transfer your outstanding principal balance to the United Bank of India at lower rates with the help of the balance transfer facility? No? Well, you know this now. When you switch to lower interest rates, you can save a substantial amount on your EMI amount and interest outgo. So, these savings can be estimated with the help of the United bank of India personal loan EMI calculator. The reason behind this saving will be the lower United Bank of India personal loan interest rates.

Calculate your Savings when going for a Prepayment Facility

With the help of the EMI calculator, you can also know the amount that you will save when you choose to pay a part of the outstanding amount before the tenure. It is known as the prepayment facility that also helps individuals in savings a substantial amount on their loan.

Choose a suitable Interest Rate with the United Bank of India Personal Loan EMI Calculator

This tool also helps individuals to estimate their EMI amount before going for a personal loan so that they can manage their finances accordingly. Just put the different details into the tool, and you can choose according to your monthly income and existing obligations.