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SBI Home Loan EMI Calculator

Q: Why should I use SBI Home Loan Calculator?

Calculating the EMI before applying for a home loan will ensure better financial planning through the identification of future costs that are associated with a loan. Depending on your financial condition, you can take stock of the various loan options by changing the maximum loan amount and tenure.

Q: How can I reduce SBI home loan EMIs?

A few of the steps that can be adopted to help you reduce EMIs on your SBI home loan are as follows: Initiate part prepayments: When you prepay your home loan partially, you pay a portion of the outstanding principal early. This way, you get an option to either reduce EMI or tenure. However, go in lower EMI only when rising home loan interest rates increase your EMI load. Opt for home loan balance transfer: In this, transfer your outstanding loan amount to lenders offering lower home loan interest rates, longer loan tenure, or both. However, before opting for a home loan balance transfer, do a cost-benefit analysis to ensure that your interest savings outweigh the transfer costs. Additionally, use an online SBI home loan calculator to gain insight into how much your EMIs can reduce on a lower home loan rate.

Q: Can I repay my SBI home loan ahead of schedule?

Yes, this can be done by making lump sum part or full prepayments. However, this is subject to the applicable prepayment charges.

Q: How can I pay my SBI home loan EMI online?

This can be initiated by transferring the funds from your savings account to the loan account through the National Electronic Funds Transfer (NEFT).

Q: What happens if SBI home loan EMI is missed?

SBI charges a penalty fee in case you missed paying your home loan EMI. However, the amount charged could vary and can range from 1% to 2% of the due EMI amount.

Q: Is SBI Home Loan EMI Calculator the same as SBI Home Loan Eligibility Calculator?

No, while the SBI Home Loan EMI Calculator highlights the EMI value while the SBI Home Loan Eligibility Calculator tells you about the maximum amount of home loan the borrower is eligible for. The SBI Home Loan EMI Calculator is dependent upon loan principal, loan term, and the rate of interest, while SBI Home Loan Eligibility Calculator relies on the income, job profile, age, and credit score of an applicant.

Q: Are NRIs eligible for SBI home loans?

Yes, SBI provides home loans to NRIs.

Q: How will I know if my eligibility criteria have been met for SBI home loans?

An intimation in this regard will be given via the in-principle sanction that will be provided through the bank’s official website during your application process or through the bank’s official mobile application.

Select loan amount

₹

Number of months

MONTHS

Interest rate

Yearly/monthly repayment schedule

2025

Month	Beginning balance	EMI	Principal	Interest	Ending Balance
Apr	20,00,000	62,996	49,079	13,917	19,50,921
May	19,50,921	62,996	49,421	13,575	19,01,500
Jun	19,01,500	62,996	49,765	13,231	18,51,735
Jul	18,51,735	62,996	50,111	12,885	18,01,624
Aug	18,01,624	62,996	50,460	12,536	17,51,164
Sep	17,51,164	62,996	50,811	12,185	17,00,353
Oct	17,00,353	62,996	51,165	11,832	16,49,188
Nov	16,49,188	62,996	51,521	11,476	15,97,667
Dec	15,97,667	62,996	51,879	11,117	15,45,788

2026

Month	Beginning balance	EMI	Principal	Interest	Ending Balance
Jan	15,45,788	62,996	52,240	10,756	14,93,548
Feb	14,93,548	62,996	52,604	10,393	14,40,944
Mar	14,40,944	62,996	52,970	10,027	13,87,974
Apr	13,87,974	62,996	53,338	9,658	13,34,636
May	13,34,636	62,996	53,709	9,287	12,80,927
Jun	12,80,927	62,996	54,083	8,913	12,26,844
Jul	12,26,844	62,996	54,459	8,537	11,72,385
Aug	11,72,385	62,996	54,838	8,158	11,17,547
Sep	11,17,547	62,996	55,220	7,776	10,62,327
Oct	10,62,327	62,996	55,604	7,392	10,06,723
Nov	10,06,723	62,996	55,991	7,005	9,50,732
Dec	9,50,732	62,996	56,381	6,616	8,94,351

2027

Month	Beginning balance	EMI	Principal	Interest	Ending Balance
Jan	8,94,351	62,996	56,773	6,223	8,37,578
Feb	8,37,578	62,996	57,168	5,828	7,80,410
Mar	7,80,410	62,996	57,566	5,430	7,22,844
Apr	7,22,844	62,996	57,966	5,030	6,64,878
May	6,64,878	62,996	58,370	4,626	6,06,508
Jun	6,06,508	62,996	58,776	4,220	5,47,732
Jul	5,47,732	62,996	59,185	3,811	4,88,547
Aug	4,88,547	62,996	59,597	3,399	4,28,950
Sep	4,28,950	62,996	60,011	2,985	3,68,939
Oct	3,68,939	62,996	60,429	2,567	3,08,510
Nov	3,08,510	62,996	60,849	2,147	2,47,661
Dec	2,47,661	62,996	61,273	1,723	1,86,388

2028

Month	Beginning balance	EMI	Principal	Interest	Ending Balance
Jan	1,86,388	62,996	61,699	1,297	1,24,689
Feb	1,24,689	62,996	62,129	868	62,560
Mar	62,560	62,996	62,561	435	0

EMI payable

62,996

Payable amount

22,67,862

Total Interest

₹2,67,862

Loan amount

20,00,000

Yearly/monthly repayment schedule

2025

Month	Beginning balance	EMI	Principal	Interest	Ending Balance
Apr	20,00,000	62,996	49,079	13,917	19,50,921
May	19,50,921	62,996	49,421	13,575	19,01,500
Jun	19,01,500	62,996	49,765	13,231	18,51,735
Jul	18,51,735	62,996	50,111	12,885	18,01,624
Aug	18,01,624	62,996	50,460	12,536	17,51,164
Sep	17,51,164	62,996	50,811	12,185	17,00,353
Oct	17,00,353	62,996	51,165	11,832	16,49,188
Nov	16,49,188	62,996	51,521	11,476	15,97,667
Dec	15,97,667	62,996	51,879	11,117	15,45,788

2026

Month	Beginning balance	EMI	Principal	Interest	Ending Balance
Jan	15,45,788	62,996	52,240	10,756	14,93,548
Feb	14,93,548	62,996	52,604	10,393	14,40,944
Mar	14,40,944	62,996	52,970	10,027	13,87,974
Apr	13,87,974	62,996	53,338	9,658	13,34,636
May	13,34,636	62,996	53,709	9,287	12,80,927
Jun	12,80,927	62,996	54,083	8,913	12,26,844
Jul	12,26,844	62,996	54,459	8,537	11,72,385
Aug	11,72,385	62,996	54,838	8,158	11,17,547
Sep	11,17,547	62,996	55,220	7,776	10,62,327
Oct	10,62,327	62,996	55,604	7,392	10,06,723
Nov	10,06,723	62,996	55,991	7,005	9,50,732
Dec	9,50,732	62,996	56,381	6,616	8,94,351

2027

Month	Beginning balance	EMI	Principal	Interest	Ending Balance
Jan	8,94,351	62,996	56,773	6,223	8,37,578
Feb	8,37,578	62,996	57,168	5,828	7,80,410
Mar	7,80,410	62,996	57,566	5,430	7,22,844
Apr	7,22,844	62,996	57,966	5,030	6,64,878
May	6,64,878	62,996	58,370	4,626	6,06,508
Jun	6,06,508	62,996	58,776	4,220	5,47,732
Jul	5,47,732	62,996	59,185	3,811	4,88,547
Aug	4,88,547	62,996	59,597	3,399	4,28,950
Sep	4,28,950	62,996	60,011	2,985	3,68,939
Oct	3,68,939	62,996	60,429	2,567	3,08,510
Nov	3,08,510	62,996	60,849	2,147	2,47,661
Dec	2,47,661	62,996	61,273	1,723	1,86,388

2028

Month	Beginning balance	EMI	Principal	Interest	Ending Balance
Jan	1,86,388	62,996	61,699	1,297	1,24,689
Feb	1,24,689	62,996	62,129	868	62,560
Mar	62,560	62,996	62,561	435	0

What is SBI Home Loan EMI Calculator?

SBI Home Loan Interest EMI Calculator aids in calculating equated monthly installments (EMI), interest cost and the total amount payable concerning various loan amounts, interest rates, and loan tenures. You can determine the optimum tenure and EMI for your SBI home loan basis the EMI affordability and financial scenarios.

How to Calculate SBI Home Loan EMI?

The SBI Bank Home Loan EMI Calculator can provide the estimated value of EMI in an instant.

A potential borrower needs to enter the offered loan amount and choose the interest rate and the loan tenure, and the calculator will display the accurate EMI amount.

The online tool is free to use and there is no limitation on the number of times you can use the EMI calculator.

Let’s have a look at the different EMI values a borrower will have to pay for a specific example. Let’s assume that an individual is looking for a home loan from the SBI Bank. The interest rate offered is 9.55%. Here’s a look at how the EMIs will change for a borrower depending on the chosen loan amount and the tenure.

Loan Amount (Rs)	10 years (Rs)	20 years (Rs)	30 years (Rs)
15,00,000	19,451	14,031	12,668
30,00,000	38,901	28,062	25,335
50,00,000	64,836	46,770	42,225
75,00,000	97,254	70,156	63,338
1,00,00,000	1,29,671	93,540	84,450

SBI Loan EMI Calculation Formula

The following formula is used by the SBI Bank EMI Calculator Home Loan:

EMI = [P x r x (1+r)^n]/[(1+r)^n-1]

In which,

P = loan amount

r = monthly interest rate

n = loan duration in months

Example for SBI Home Loan EMI Calculator

Let’s assume that an individual borrows a home loan of Rs 50 lakh for a duration of 20 years or 240 months at an interest rate of 9.55% per annum.

Using the formula for EMI calculation:

EMI = [P x r x (1+r)^n]/[(1+r)^n-1]

EMI = [ 50,00,000 x 0.0955/12 x (1+ 0.0955/12)^240]/[(1+0.0955/12)^240 -1]

EMI = [ 50,,00,000 x 0.00795 x (6.70222)]/ {5.70222]

EMI = 46,770 (approximately)

How can the SBI Home EMI Calculator Help You?

SBI Bank Home Loan EMI calculator helps you to calculate home loan EMI in advance, this ensures better financial planning for your repayments.

While manual calculations can be undertaken, they are complex, time-consuming, and carry a scope for errors. To calculate your home loan EMI in an instant and accurate manner, the SBI Home Loan EMI Calculator remains a suitable alternative.

With a user-friendly interface, the SBI home loan calculator is an easy-to-use online tool to compute complex EMI calculations.

SBI Amortization Schedule

Let’s assume, you have taken a home loan of Rs 1 crore for 30 years or 360 months. The interest rate is fixed at 9.55% every year. The following is the amortization schedule.

Month	Principal (Rs)	Interest (Rs)	EMI (Rs)	Balance (Rs)
Apr	4,867	79,583	84,450	99,95,133
May	4,905	79,544	84,450	99,90,227
Jun	4,944	79,505	84,450	99,85,282
July	4,984	79,466	84,450	99,80,298
Aug	5,023	79,426	84,450	99,75,274
Sept	5,063	79,386	84,450	99,70,210
Oct	5,104	79,346	84,450	99,65,106
Nov	5,144	79,305	84,450	99,59,961
Dec	5,185	79,264	84,450	99,54,775
Jan	5,227	79,223	84,450	99,49,548
Feb	5,268	79,181	84,450	99,44,279
Mar	5,310	79,139	84,450	99,38,969

How to use SBI Bank's Home Loan EMI Calculator?

To use the SBI Home Loan EMI Calculator online, the following steps are involved:

Visit the official website of the SBI Bank
Click on the ‘Calculators’ tab along the header bar
Enter the variables such as home loan amount, loan tenure, and interest rate

After this, the SBI Bank Home Loan EMI Calculator will compute the EMI value based on the inputs. The EMI value and a the break-up of the total amount in terms of interest and principal will be displayed graphically and in a tabular format.

How to calculate home loan eligibility in SBI?

SBI Bank does not have a home loan eligibility calculator of its own. An applicant looking forward to determining their SBI home loan eligibility can use online eligibility calculators available online to get an estimate on their eligible home loan amount. A few of the factors that may impact your eligibility for SBI home loan includes your age, income, existing EMI obligations, employment type, etc.

Benefits of using SBI Loan EMI calculator

The benefits of using the SBI Home Loan Interest Rate 2024 EMI calculator is as follows:

Financial planning: You can determine the right amount that can help you estimate the EMIs payable. It also enables you to choose the correct tenure to ensure the EMIs are easily manageable in the long run.

Accurate estimates: Eliminates the need for manual calculation, which could be prone to inaccuracies and can be a time-consuming exercise as well. You are assured of accurate estimation of your EMIs using an SBI Bank home loan EMI calculator.

Easy accessibility: The SBI Home Loan interest rate EMI calculator can be operated from anywhere and across a wide range of devices such as a computer, mobile, tablet, etc.

Factors affecting SBI Home Loan EMI

The factors affecting SBI Home Loan EMI are as follows:

Interest rate: The rate of interest offered by SBI Bank on a new home loan is 9.55% to 10.05%. This plays a pivotal role in determining the EMI. Generally, the interest rate and EMI, are in direct proportion to each other. This means, the higher the rate of interest, the higher will be the EMI payable towards the home loan.

Principal: This is the loan amount initially borrowed from a bank or financial institution and also affects the EMI payable towards a home loan. As a result, the higher the loan amount, the higher the EMI payable towards a home loan.

Loan tenure: The tenure and EMI are inversely proportional to each other. This means, that the higher the loan tenure, the lower the EMI payable towards a home loan. Conversely, a lower tenure will attract high EMIs. A point to note is that a long loan tenure will result in a higher amount of interest paid. Whereas, a shorter tenure will translate into lesser interest paid back to a bank. The maximum loan tenure offered by SBI Bank on home loans is 30 years.

SBI Bank's Repayment Plans

There are various flexible options that an individual can avail of for home loan repayments. Here’s the lowdown on a few such repayment plans:

EMI moratorium: Simply put, an EMI moratorium is a holiday for three to six months, so you have time to get your budget in place before your EMIs start. However, banks can offer only three months of tax holiday. This is needed in case the authorised bank is not funding the registration, stamp duty, and other related charges.

Step-up EMI repayment: This entails small EMIs in the beginning and larger EMIs at a later phase. For instance, in case the normal EMI is calculated to Rs 30,000 per month, then the lending bank structures the EMI starting at Rs 20,000 per month and stepping up every three years or so.

Step-down EMI repayment: An individual can opt for step-down home loan repayment to complete the liability at the earliest; the reverse of step-up repayment. In this case, initial EMIs are large while subsequent EMIs are smaller.

Prepayment of home loan: A windfall of monetary gains could be diverted towards prepayment of your home loan; either in full or in part. Also, ensure no prepayment charges for loan closure. There is also an option of partial closure of the loan.

Balloon repayments: A bank can structure a balloon repayment. In this case, there are assured balloon payments, this could be in one or more tranches. Depending on this balloon payment, the initial EMI will be maintained at low.

Refinancing of loan: An individual can opt for refinancing if rates in the new loan are comparatively much lower. In this case, the new lending bank or financial institution will first repay the old loan principal and the balance will be disbursed to an individual.

Other Loan EMI Calculator:
1. Home Loan EMI Calculator
2. HDFC Home Loan EMI Calculator
3. ICICI Home Loan EMI Calculator
4. Axis Bank Home Loan EMI Calculator
5. Canara Bank Home Loan EMI Calculator
6. PNB Home Loan EMI Calculator
7. BOB Home Loan EMI Calculator
8. LIC Home Loan EMI Calculator

Frequently Asked Questions

Why should I use SBI Home Loan Calculator?

How can I reduce SBI home loan EMIs?

Can I repay my SBI home loan ahead of schedule?

How can I pay my SBI home loan EMI online?

What happens if SBI home loan EMI is missed?

Is SBI Home Loan EMI Calculator the same as SBI Home Loan Eligibility Calculator?

Are NRIs eligible for SBI home loans?

How will I know if my eligibility criteria have been met for SBI home loans?

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SBI Home Loan EMI Calculator

Home Loan EMI Calculator

What is SBI Home Loan EMI Calculator?

How to Calculate SBI Home Loan EMI?

SBI Loan EMI Calculation Formula

Example for SBI Home Loan EMI Calculator

How can the SBI Home EMI Calculator Help You?

SBI Amortization Schedule

How to use SBI Bank's Home Loan EMI Calculator?

How to calculate home loan eligibility in SBI?

Benefits of using SBI Loan EMI calculator

Factors affecting SBI Home Loan EMI

SBI Bank's Repayment Plans

Frequently Asked Questions