SBI Personal Loan EMI Calculator

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MONTHS
%
Yearly/monthly repayment schedule
2025
MonthBeginning balanceEMIPrincipalInterestEnding Balance
May1,00088799921
Jun92188808841
Jul84188817760
Aug76088827679
Sep67988826597
Oct59788835514
Nov51488844430
Dec43088844346
2026
MonthBeginning balanceEMIPrincipalInterestEnding Balance
Jan34688853261
Feb26188862175
Mar1758887288
Apr88888711
EMI payable
Payable amount
Total Interest
Loan amount

The SBI Personal Loan EMI Calculator helps you quickly estimate your monthly EMI based on an interest rate of 10.30% p.a. By entering details like the loan amount and tenure, the calculator provides an accurate breakdown of your monthly payments, helping you plan your loan repayment efficiently and manage your finances effectively.

What Is SBI Personal Loan EMI Calculator?

SBI Bank Personal Loan Calculator is an easy-to-use tool that helps to keep a track of the cumulative amount to be repaid on your personal loan. The personal loan calculator is quite effective in calculating your financial budget. With the aid of the personal loan calculator, you can plan any extensive financial expense with quite ease.Additionally, it is possible for you to compare different SBI loan offers with the Personal Loan Calculator to choose a loan option  that meets your budget and addresses your financial needs.

How Can SBI Personal Loan EMI Calculator Help You?

The SBI Personal Loan EMI Calculator is an easy-to-use tool that helps track the total amount to be repaid. Simply enter the required details, and it instantly shows the results.

  • SBI personal loan calculator is ideal  for  your financial planning
  • Make it simple to calculate personal loan and remain updated with your payments
  • Helps to plan for personal loan repayment well in advance

SBI Personal Loan EMI Calculator Formula 

The following formula is to be applied while calculating EMI on a personal loan. It is a standardised formula:

EMI= [PxRx(1+R)^N]/[(1+R)^N-1]

Where,

  • R: Interest rate on loan amount
  • EMI: Equated monthly instalment
  • N: Tenure for repaying the loan amount
  • P: The principal amount

SBI Personal Loan EMI Calculator Example

Let’s assume the principal amount is Rs 1 Lakh with a rate of interest of 11.15% and tenure of five years, the EMI will be calculated as:

[1,00,000 x 11.15 X (1+11.15) ^5]/ [(1+11.15) ^ 5-1] = 2,124.

The EMIs you will be liable to pay is Rs 2,182.

SBI Personal Loan Amortisation Schedule

Let’s assume, you have taken a loan of Rs 10 lakh for a period of 10 years or 120 months. The interest rate is fixed at 11.15% every year. The following is the amortization schedule.

Month

Principal (in Rs)

Interest (in Rs)

Principal + Interest

To be paid

(in Rs)

1

456

929

1,386

99,543

2

461

924

1,386

99,082

3

465

920

1,386

98,617

4

469

916

1,386

98,147

5

474

911

1,386

97,673

6

478

907

1,386

97,195

7

482

903

1,386

96,712

8

487

898

1,386

96,224

9

491

894

1,386

95,732

10

496

889

1,386

95,236

11

501

884

1,386

94,735

12

505

880

1,386

94,229

How To Use SBI Personal EMI Calculator?

  • Enter the loan amount.
  • Enter the interest rate.
  • Select the loan tenure.

The calculator will instantly display the EMI. You can modify any details, and the EMI will update accordingly.

Benefits Of SBI Personal Loan EMI Calculator

  • Aids in understanding your eligibility before applying for a personal loan
  • Gain insight into how much would be the monthly payments during the tenure you have opted for
  • Find out the current interest rate of the bank and you can use it to get the exact EMI
  • If the company you work at has their corporate/salary account with SBI, you can avail offers provided only to salary account holders.

SBI Personal Loan Eligibility

The SBI personal loan eligibility criteria isl based on the age, income, and credit score of an individual, which is as follows:

Eligibility based on age

  • To be eligible for SBI Xpress Credit and SBI Quick Personal Loan, you must be aged about 21 years when applying for the loan and below 58 years at the time when the loan matures. 
  • For SBI personal loan to pensioners, you should be below 76 years of age when applying for the loan and up to 78 years at the time when the loan matures.

Eligibility based on salary

  • For SBI Xpress Credit, individuals must have a salary account with the SBI. The minimum monthly income should be Rs 15,000 and the EMI/NMI Ratio should be less than 50%.
  • For SBI Quick Personal Loan, a person should have a salary account with any other bank. The minimum monthly income should be Rs. 15,000 and the EMI/NMI Ratio should be less than 50%.
  • For SBI Pension Loan, EMI/NMP ratio should not exceed 33% for family pensioners 50% for other types of pensioners.

Eligibility based on CIBIL score

  • For SBI personal loans, your minimum CIBIL score should be 750 or above. In case you have a score of 750 or above, your chances for personal loan approval at SBI will remain considerably higher.

In conclusion, the SBI Personal Loan EMI Calculator is a quick and convenient tool to estimate your monthly repayments. By simply entering the loan amount, interest rate, and tenure, you can easily plan your finances and adjust your loan details to see the impact on your EMIs.

Frequently Asked Questions

How can I use the EMI calculator to find the best loan for my needs?

An EMI calculator can be used to compare loans from different banks, as each bank charges its interest rate. The tenure may also vary from bank to bank. You must enter the borrowed amount, interest rate, and the tenure in the EMI calculator. You will be able to find the best bank for the personal loan, with the least EMI that matches your budget.

What do secured loans and unsecured loans mean?

A secured loan is secured against an asset, usually property. An unsecured loan is one where there is no asset offered as security. The best example of an ‘unsecured’ loan is the personal loan.

How long can I take to repay my personal loan?

The time allowed to repay your personal loan ranges from over 12 to 60 months. However, the vital thing to keep in mind is the time taken to repay the loan will directly affect the EMI. If you want to lower the EMIs, then you must take the loan for a longer period. But remember, a longer tenure of repayment means you will have to pay more interest.

Can I prepay my personal loan?

Personal loan outstanding amounts can be paid either in full pre-payment mode or in partial pre-payment mode. For a full prepayment, the entire loan amount can be settled in one single payment. For partial prepayment of your outstanding amount, you pay a part of the principal.

What is a credit report, and how important is it for the application of a loan?

A credit report is used by financial institutions to access the capacity to repay a loan. It considers the details of your previous borrowing, how much outstanding credit you have, as well as information on how many missed or late payments you may have made.

Does the Personal Loan EMI Calculator use the flat balance or reducing balance interest calculation method?

In the flat balance method, the interest you pay on the personal loan would be calculated on the total loan amount over the entire duration of the loan. In the reducing balance method, the interest would be calculated for each successive month. The principal on which the interest would be calculated reduces with time as the duration of the repayment progresses. The online personal loan EMI calculator uses the reducing balance calculation method to calculate the personal loan EMI.

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