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  • SBI Home Loan EMI Calculator

    With the SBI Home Loan EMI Calculator, you can easily estimate the monthly repayment amount on your housing loan. The minimum EMI per lakh you get with SBI is Rs.662.

    Loan Amount Based on eligibility
    Interest Rate 6.95% p.a. - 7.50% p.a.
    Max Tenure 30 Years
    Processing Fees 0.35% of the loan amount
    Minimum: Rs.2,000
    Maximum: Rs.10,000
    SBI COVID-19 Home Loan EMI Moratorium

    In adherence with RBI's COVID-19 regulatory measures, SBI is currently offering up to 3 months of moratorium to its existing home loan customers. So, if you are an existing customer with the bank, you can defer your home loan EMIs for up to 3 months. However, note that the interest accrued during the deferred period will be charged later and due to compounding interest, you may end up paying more later on.

    You can do your EMI calculations with the help of a home loan EMI calculator to check how much you have to pay after the moratorium period is over. You also have the option to opt out of this facility and continue paying your EMIs as before.

    To use the calculator, you need to know the current SBI home loan interest rates, loan amount, and tenure. Enter the values and you’ll get a full break-up of your monthly repayments and the table showing the reducing balance in your loan account.

    SBI Home Loan EMI Amount

    The table below gives you an idea of the EMIs for various tenures and loan amounts at an interest rate of 6.95% p.a.

    Rs.10 Lakh Rs.20 Lakh Rs.40 Lakh Rs.50 Lakh
    10 years Rs.11,585 Rs.23,170 Rs.46,340 Rs.57,925
    20 years Rs.7,723 Rs.15,446 Rs.30,892 Rs.38,615
    30 years Rs.6,619 Rs.13,239 Rs.26,478 Rs.33,097

    How to Calculate SBI Home Loan EMI

    Suppose you are applying for the SBI Regular Home Loan scheme at an interest rate of 6.95% p.a and a loan amount of Rs.10 lakh, Rs.20 lakh, Rs.40 lakh or Rs.50 lakh. Using SBI Home Loan EMI Calculator, you can find the EMIs, processing fee and total interest payable on various tenures. In the above example, we’ve kept the processing fee as 0.35% and selected ‘No’ for pre-payments.

    Home Loan EMI Calculation Formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

    In this formula, P is the loan amount, r is the rate of interest and n is the tenure of the loan in months.

    Breaking Down SBI Home Loan EMI

    Let’s look at an example of how your loan will reduce over a chosen tenure. For this, we are going to take the following figures:

    Principal: Rs.10 lakh
    Interest rate:6.95% p.a.
    Tenure:10 years
    Processing fee: Rs.3,500 (0.35% of the loan amount)

    The following table shows the repayment details:

    Year Principal Paid (A) (Rs.) Interest Paid (B) (Rs.) Total Payment (A+B) (Rs.) Outstanding Loan Balance (Rs.)
    2020 35,268 34,242 69,510 9,64,732
    2021 74,309 64,712 1,39,021 8,90,423
    2022 79,641 59,379 1,39,020 8,10,781
    2023 85,356 53,665 1,39,021 7,25,424
    2024 91,482 47,538 1,39,020 6,33,942
    2025 98,047 40,976 1,39,023 5,35,896
    2026 1,05,082 33,941 1,39,023 4,30,814
    2027 1,12,622 26,399 1,39,021 3,18,192
    2028 1,20,703 18,317 1,39,020 1,97,488
    2029 1,29,364 9,656 1,39,020 68,123
    2030 68,123 1,389 69,512 0

    Note: The figures in the table may vary from the actual figures given by the bank in case the bank charges certain other fees as well.


    1. What benefits do I get by calculating my EMI before taking an SBI property loan?

      Calculating your EMI before taking a loan can help you in the following ways:

      • You can manage your monthly expenses better. Once you know how much you have to pay towards your loan each month, you can then budget the other expenses accordingly.
      • You will be able to determine what tenure to choose depending on how much you can afford to repay every month.
      • Planning prepayments and pre-closures can be done easily, helping you pay off your loan faster.
    2. Will my EMIs change in case of prepayment?

      When you prepay a part of your loan, the outstanding principal will reduce. This allows you to opt for a lower EMI while keeping the loan tenure the same. Or, you can maintain the same monthly instalment as before and reduce the tenure of the loan. It is advisable to maintain the same EMI and reduce the tenure since this will reduce the amount of interest you pay in the long run.

    3. Can I use the same EMI calculator for all banks?

      Yes. An EMI calculator is a common tool and is not tied to any particular bank or financial institution. As long as you know your principal, interest rate, processing charges, and tenure, you should be able to generate your EMI. BankBazaar’s calculator also allows you to factor in prepayment details.

    4. How accurate is an EMI calculator?

      An EMI calculator estimates your loan repayment details based on the data you give it. But the EMI that your bank gives you may be a little different due to other charges involved in the calculation. Also, if your home loan is subject to a floating rate, then the interest rate changes every year based on the MCLR or base rate change. Even a slight change in interest rate will make a difference to the total loan amount you repay, depending on the duration of the loan. These variables limit the accuracy of an EMI calculator.

    5. Why are the interest charges in the repayment table slightly higher during the initial months of the loan?

      The interest rate of your loan is applied on the basis of “reducing balance principle”. Because of this, the interest will be slightly higher during the initial phase since the principal outstanding is higher. As this amount reduces, the incidence of interest will also come down proportionately.


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