SBI Personal Loan EMI Calculator

Yearly/monthly repayment schedule
MonthBeginning balanceEMIPrincipalInterestEnding Balance
MonthBeginning balanceEMIPrincipalInterestEnding Balance
EMI payable
Payable amount
Total Interest
Loan amount

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.

SBI Personal Loan EMI Calculator

An individual can apply for a personal loan with the SBI to address their any financial concerns. Calculating EMIs and deposit interest rates for any type of credit or deposit can be a time-consuming activity. The SBI EMI calculator is a handy tool that simplifies the task.

You can use the SBI FD Calculator in order to understand the mature amount and interest to be received. You can use the  SBI FD calculator for determining the maturity amount. The calculator is quite simple to use while helping you to save time.

How can the  SBI personal loan EMI calculator assist you?

As an easy-to-use online tool, SBI personal loan EMI calculator assists to keep a track of the cumulative amount to be repaid on your personal loan. You are required to just enter relevant data in specified columns and it displays results in an instant.

  • 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

Formula for SBI personal loan EMI calculator

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]

In which,

R=Interest rate on loan amount

EMI=Equated monthly instalment

N=Tenure for repaying the loan amount

P=The principal amount

Example of EMI calculation on personal loan

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.


Principal (in Rs)

Interest (in Rs)

Principal + Interest

To be paid

(in Rs)





























































How to use the personal EMI calculator?

To use the SBI Personal loan EMI calculator, you need to enter the loan amount, interest rate, and select the loan tenure. 

The EMI calculator will display the EMIs based on the entered numbers in an instant. Similarly, it will change as per modifications you make.

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.
  • The SBI Personal loan calculator provides many features wherein an individual can explore various repayment plans and schemes. For instance, a few borrowers may prefer to settle the loan with lump-sum payments rather than monthly installments. There are features in the calculator that address such needs.
  • The calculator displays an automated amount related to the values entered. There is a higher scope of it being accurate than manual calculations, which are often time-consuming.
  • The SBI personal loan calculator is an easy-to-use tool that a user can use from anywhere at their convenience.

What the personal loan EMI calculator cannot tell you?

  • The approval of your personal loan application to SBI  depends on the discretion of a loan manager. In this regard, an EMI calculator cannot showcase the outcome.
  • There is no guarantee that the interest rate given will not be influenced depending on the current trends.
  • Pre-payment penalty could apply.

Fees & Charges related to SBI Personal Loan EMI

Processing fee

NIL (till January 32, 2024)

Pre-closure charges


Pre-payment fees


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.

SBI personal loan interest rate chart

SBI Personal Loan Interest Rate Highlights


SBI Xpress Credit Personal Loan

11.15%-14.30% p.a

SBI Xpress Elite Scheme

11.15%-11.90% pa

SBI Xpress Flexi Scheme

11.40%-12.15% p.a.

SBI Xpress Lite Scheme

12.15%-15.30% p.a.

SBI Quick Personal Loan

11.40%-14.55% p.a.

SBI Pension Loans

11.30 % p.a. onwards

Xpress Credit Insta Top-up Loans

12.40% p.a.

Pre-approved Personal Loans (PAPL) to Non CSP Customers

13.80%-14.30% p.a.

Note: All the above interest rates are as per January 11, 2024

Other Personal Loan EMI Calculator:
1. Personal Loan EMI Calculator
2. HDFC Personal Loan EMI Calculator
3. ICICI Personal Loan EMI Calculator

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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