Calculate Interest Savings, EMI Reduction & Loan Tenure Before Prepaying
The Union Bank Home Loan Prepayment Calculator is a useful financial planning tool that helps borrowers estimate how much interest and loan tenure can be reduced by making part prepayments or full prepayment on their Union Bank of India housing loan.
This calculator is ideal for Union Bank home loan customers across India, including cities such as Mumbai, Delhi NCR, Bengaluru, Chennai, Hyderabad, Pune, Ahmedabad, Jaipur, Lucknow, Patna, and Kochi, where Union Bank has a strong retail lending presence.
By using this calculator, borrowers can take data-driven decisions instead of relying on assumptions.
A Union Bank home loan prepayment calculator is an online estimation tool that shows the financial impact of prepaying your home loan before the scheduled tenure ends.
It helps you calculate:
The calculator works for:
No personal, banking, or login details are required, ensuring privacy and ease of use.
Using the calculator is simple and takes only a few steps.
Step-by-Step Instructions
The calculator can be used by both existing and new Union Bank housing loan borrowers.
Using a Union Bank home loan prepayment calculator in India offers several advantages:
1. Accurate Interest Savings Estimation
Clearly shows how much interest you can save by prepaying your home loan.
2. Smarter Financial Planning
Helps plan prepayment using bonuses, incentives, maturity proceeds, or surplus income.
3. EMI vs Tenure Comparison
Allows borrowers to compare whether lower EMI or shorter tenure is more beneficial.
4. Better Loan Control
Provides transparency on long-term liabilities and supports early debt-free home ownership.
5. Free and Secure
The tool is free to use and does not require any personal or financial information.
Savings from prepaying a Union Bank home loan depend on:
Key Insight
Prepayments made in the initial years of the loan tenure usually lead to the highest interest savings, as interest outflow is higher during the early repayment phase.
Even small, periodic prepayments can significantly reduce the total interest burden over time. The Union Bank prepayment calculator provides accurate estimates based on your loan details.
Before prepaying your Union Bank of India home loan, consider these important factors:
1. Emergency Fund Availability
Ensure you retain sufficient funds for 6–9 months of living expenses.
2. Investment Return Comparison
If your investments offer higher post-tax returns than your home loan interest rate, prepayment may not always be the best option.
3. Tax Benefit Impact
Home loan interest qualifies for deduction under Section 24(b) and principal under Section 80C. Prepayment reduces interest and may affect tax benefits.
4. Floating vs Fixed Interest Rate
Prepayment conditions differ for floating-rate and fixed-rate home loans.
5. Partial vs Full Prepayment Strategy
Regular partial prepayments may sometimes deliver better results than a one-time lump-sum payment.
Floating Rate Home Loans (Individuals)
Fixed Rate Home Loans
Borrowers should always verify applicable charges with their Union Bank branch or loan agreement before making a prepayment.
The Union Bank Home Loan Prepayment Calculator helps borrowers make informed, transparent, and financially responsible decisions. Whether your goal is to reduce interest outflow or close your loan early, this tool provides a clear picture of the financial impact of prepayment.
For precise outcomes, always cross-check with your loan sanction letter, current interest rate, and Union Bank policies.
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