UCO Bank Personal Loan EMI Calculator

The personal loans provided by the UCO Bank can be used for various causes, including vacations, renovating homes, funding a dream wedding, and much more. The UCO Bank offers customers easily approved loans and minimal paperwork. Their personal loans go up to a value of Rs. 15 lakhs and of tenures of up to 7 years. Even pensioners can get a loan of up to Rs. 10 lakhs and a four-year tenure.

These personal loans from the UCO bank can easily be repaid through EMIs or equated monthly installments.

If you want to know what your EMI would be if you borrowed a personal loan from UCO Bank, you can use the UCO Bank Personal Loan Calculator.

What is the UCO Bank Personal Loan EMI Calculator?

The UCO Bank Personal Loan Interest Rate Calculator is an online tool that can be used to instantly calculate the amount of EMI you will have to pay over your personal loan from the UCO Bank.

The UCO Bank Personal Loan Eligibility Calculator has the below-mentioned features:

• The UCO Bank personal loan calculator works on a standard formula.
• The calculator will not ask for any of your personal details.
• It can be used as many times as wanted.
• You can find the calculator on the portal of Groww.
• You would not have to be a customer of the bank or have applied for a personal loan in order to use this calculator.

How Does the UCO Bank Personal Loan EMI Calculator Work?

The UCO Bank personal loan EMI calculator works on a standard formula, and that is:

E = P x r x (1+r)^n/((1+r)^n-1)

This formula can be expanded into -

P - The principal amount

R - The rate of interest

N - The tenure of the loan

Here is an example to show how the formula works:

Mr Gautham wants to take a personal loan from the UCO Bank. The amount of the personal loan is Rs. 6.5 lakhs. The tenure of the personal loan that he is taking is 4.5 years. The UCO Bank is offering him an interest rate of 10.45%.

Therefore the details of the loan are as follows:

Principal = Rs. 6.5 lakhs

Tenure = 4.5 Years

Rate = 10.45%

Therefore, the result is:

EMI = Rs.15,364

Amortization Table

Based on the example above, we can draw this amortization table:

How Can the UCO Bank Personal Loan Calculator Help You?

The UCO Bank personal loan calculator is useful for knowing the instant solutions to a personal loan that you can potentially borrow from the UCO Bank.

This calculator can be used in order to know the value of the EMI that you will be paying over your personal loan from the bank, and you can also know the interest amount that will be charged over your personal loan.

Therefore, using the UCO Bank personal loan calculator can benefit you in the following ways:

1. The UCO Bank personal loan calculator can be used from anywhere.
2. You would not have to worry if you can afford the EMIs from a personal loan that is borrowed from the UCO Bank. Instead, you can know what the EMI would mostly be, and then you can apply for a personal loan from the UCO Bank.
3. The UCO Bank personal loan calculator will let you analyze if you can afford to take out a personal loan at the moment.
4. You can also compare different amounts and tenures on the calculator to choose the one that is most suitable for you.
5. You can plan your months or monthly budgets according to the personal loan EMI and plan financially ahead.
6. You can also make decisions regarding the right bank that you will have to borrow your personal loan.

How to Use the UCO Bank Personal Loan Calculator?

Using the UCO Bank personal loan calculator is simple, and you can follow the guide below to do so:

Step 1: Provide the principal amount that is needed for your personal loan.

Step 2: Enter the tenure of the personal loan.

Step 3: Finally, provide the interest rate that the bank is providing you.

After these details have been entered correctly, you will see the display of the EMI amount along with the interest amount that would be incurred if you had borrowed a personal loan from the UCO Bank.