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SBI Home Loan EMI Calculator

SBI Home Loan Calculator

Last Updated 07th Jul 2021

  • SBI home loan EMI per ₹ 1 Lakh is ₹ 645, which is one of the lowest EMI offered by banks. Check Best Offers
  • Housing loan EMI in SBI is calculated based on loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for SBI home loan before applying. Use an online SBI loan EMI calculator to estimate your EMI.
  • Check SBI home loan EMI for different tenures at the current SBI home loan interest rate of 6.70%
  • Loan Amount10 Year Loan15 Year loan30 Year loan
    ₹ 10 Lakh₹ 11,457₹ 8,821₹ 6,453
    ₹ 20 Lakh₹ 22,914₹ 17,643₹ 12,906
    ₹ 30 Lakh₹ 34,370₹ 26,464₹ 19,358
    ₹ 50 Lakh₹ 57,284₹ 44,107₹ 32,264

    Jump to EMI Calculator

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SBI Home Loan EMI Calculator Online

SBI Home Loan EMI is the fixed amount that you need to pay on a fixed date of the month till the end of repayment tenure. The amount is based on your loan amount, tenure and interest rate. You can calculate your SBI housing loan EMI in advance to plan your loan payments and expenses using a SBI home loan calculator. SBI home loan EMI calculator is an online tool that functions on a mathematical algorithm and gives accurate results without hassle.

Why should you use SBI Home Loan EMI Calculator?

  • Calculate the EMI at Different Tenures: SBI offers the lowest EMI per lakh at ₹ 645. To get the lowest EMI on your home loan, you can compare the EMIs with a different loan amount and tenure. However, it is advisable to check with the bank to know the interest rate you will be eligible for SBI home loan.
  • Compare SBI Home Loan EMI: With SBI home loan EMI Calculator, you can also estimate EMI on your home loan from SBI with other leading banks in India at the same loan amount and tenure at varying interest rates.
  • Get Detailed Amortisation Schedule: You can calculate the division of total EMIs into interest and principal repayment on your loan at different periods throughout the loan tenure.
  • Calculate the Outstanding Balance: Finally, you can also calculate the remaining loan tenure for the outstanding balance at any period of the loan tenure. If you want to reduce your home loan tenure, you can always consider a home loan balance transfer because other banks may allow you to pay your home loan at low rates.

SBI Home Loan EMI Calculator to estimate the EMI that fits your budget

To calculate your home loan EMI at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on SBI Home Loan EMI calculator. The below-mentioned table shows the calculation of SBI Home Loan at the various combinations of loan amount and years at the lowest rate of 6.70%. Considering this example, if you think you can afford to pay an EMI of in your budget, take an loan for 15 years or loan for 30 years, maybe the right SBI Home loan plan for you.

SBI home loan EMI is calculated for different loan amounts and tenures at 6.70% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 22,053 ₹ 18,935 ₹ 16,132
₹ 50 Lakh ₹ 44,107 ₹ 37,870 ₹ 32,264
₹ 75 Lakh ₹ 66,160 ₹ 56,805 ₹ 48,396
₹ 1 Cr ₹ 88,214 ₹ 75,739 ₹ 64,528

Benefits of using SBI Home Loan EMI Calculator

SBI Home Loan Calculator is online and gives instant results with 100% accuracy. The best part is that you can calculate and compare multiple EMIs on different combinations of loan amount, interest rate and tenure. Thus, using SBI Home Loan EMI Calculator helps you to choose the right amount of EMI that is affordable and also decide on the right loan amount and loan tenure. Further, if you use the MyLoanCare SBI Home Loan Calculator, you have the option to receive calculated EMIs and amortization schedules for each calculation by mail which can be referred to at a later stage when you are making the final decision to take a loan.

Factors Affecting SBI Home Loan EMI

Home Loan EMI can be calculated using an online Home Loan Calculator which takes into account factors such as loan amount, rate of interest and the tenure for which you are planning to avail the loan.

Loan Amount

If you apply for a higher loan amount, you will have to pay a higher EMI SBI gives a minimum home loan of ₹ 25,00,000 upto a maximum amount of ₹ 7,00,00,000.

Interest Rate

Higher interest rate increases your SBI housing loan EMI which will increase the total cost of the loan. SBI current home loan interest rate starts at 6.70%. Do a complete market research and compare rates and calculate EMI online using SBI home loan calculator before you apply for a home loan.

Loan Tenure

This is the period in which you can repay your home loan in SBI. Your EMI will be lower if you take a 30 years loan from SBI as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.

SBI Home Loan EMI Calculator Formula

SBI Home Loan Calculator calculates EMI based on the following formula.

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how SBI Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. SBI home loan amount can range from ₹ 25,00,000 to ₹ 7,00,00,000
  • r = Rate of interest per month. Current SBI housing loan rate 6.70%.
  • n = tenure in month. For SBI, maximum home loan tenure is 360 months

Comparison of SBI Home Loan EMI with other Banks

Bank Name Interest rate Loan Amount of ₹ 10 Lakh Loan Amount of ₹ 30 Lakh Loan Amount of ₹ 50 Lakh
SBI 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264
HDFC 6.75% ₹ 6,486 ₹ 19,458 ₹ 32,430
ICICI Bank 6.75% ₹ 6,486 ₹ 19,458 ₹ 32,430
LIC Housing Finance 6.66% ₹ 6,426 ₹ 19,279 ₹ 32,131
Axis Bank 6.66% ₹ 6,426 ₹ 19,279 ₹ 32,131

SBI Home Loan Amortization Calculator

SBI Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. SBI gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Home Loan of ₹ 25 Lakh for 30 years from SBI at an interest rate of 6.70%. EMI calculated for this loan amount is ₹ 16,132 and the total annual EMIs to be paid annually is ₹ 1,93,583. The EMI schedule of loan for 30 years is explained below in the table –

Amortization Schedule for a Home Loan of ₹ 25 Lakh over the 30 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 83,567 ₹ 13,225 ₹ 96,792 ₹ 24,86,775
2022 ₹ 1,65,770 ₹ 27,813 ₹ 1,93,583 ₹ 24,58,962
2023 ₹ 1,63,848 ₹ 29,735 ₹ 1,93,583 ₹ 24,29,227
2024 ₹ 1,61,794 ₹ 31,790 ₹ 1,93,583 ₹ 23,97,437
2025 ₹ 1,59,597 ₹ 33,986 ₹ 1,93,583 ₹ 23,63,451
2026 ₹ 1,57,249 ₹ 36,335 ₹ 1,93,583 ₹ 23,27,116
2027 ₹ 1,54,738 ₹ 38,845 ₹ 1,93,583 ₹ 22,88,271
2028 ₹ 1,52,054 ₹ 41,529 ₹ 1,93,583 ₹ 22,46,742
2029 ₹ 1,49,185 ₹ 44,399 ₹ 1,93,583 ₹ 22,02,343
2030 ₹ 1,46,117 ₹ 47,466 ₹ 1,93,583 ₹ 21,54,877
2031 ₹ 1,42,837 ₹ 50,746 ₹ 1,93,583 ₹ 21,04,131
2032 ₹ 1,39,331 ₹ 54,253 ₹ 1,93,583 ₹ 20,49,878
2033 ₹ 1,35,582 ₹ 58,001 ₹ 1,93,583 ₹ 19,91,877
2034 ₹ 1,31,575 ₹ 62,009 ₹ 1,93,583 ₹ 19,29,868
2035 ₹ 1,27,290 ₹ 66,293 ₹ 1,93,583 ₹ 18,63,575
2036 ₹ 1,22,709 ₹ 70,874 ₹ 1,93,583 ₹ 17,92,701
2037 ₹ 1,17,812 ₹ 75,771 ₹ 1,93,583 ₹ 17,16,930
2038 ₹ 1,12,577 ₹ 81,007 ₹ 1,93,583 ₹ 16,35,923
2039 ₹ 1,06,979 ₹ 86,604 ₹ 1,93,583 ₹ 15,49,319
2040 ₹ 1,00,995 ₹ 92,588 ₹ 1,93,583 ₹ 14,56,731
2041 ₹ 94,598 ₹ 98,985 ₹ 1,93,583 ₹ 13,57,746
2042 ₹ 87,758 ₹ 1,05,825 ₹ 1,93,583 ₹ 12,51,921
2043 ₹ 80,446 ₹ 1,13,137 ₹ 1,93,583 ₹ 11,38,784
2044 ₹ 72,629 ₹ 1,20,954 ₹ 1,93,583 ₹ 10,17,829
2045 ₹ 64,271 ₹ 1,29,312 ₹ 1,93,583 ₹ 8,88,517
2046 ₹ 55,337 ₹ 1,38,247 ₹ 1,93,583 ₹ 7,50,270
2047 ₹ 45,784 ₹ 1,47,799 ₹ 1,93,583 ₹ 6,02,471
2048 ₹ 35,572 ₹ 1,58,012 ₹ 1,93,583 ₹ 4,44,460
2049 ₹ 24,654 ₹ 1,68,930 ₹ 1,93,583 ₹ 2,75,530
2050 ₹ 12,981 ₹ 1,80,602 ₹ 1,93,583 ₹ 94,928
2051 ₹ 1,864 ₹ 94,928 ₹ 96,792 -₹ 0

In the above illustration, on a SBI Home Loan of₹ 25 Lakh, taken at the lowest interest rate of 6.70, EMI paid is ₹ 16,132 and an annual total of EMIs is ₹ 1,93,583, the interest component is ₹ 1,66,684 while the principal component is ₹ 26,899 in year 1 of loan disbursement. You repay only 1.08% of the total principal after paying 12 EMIs during the first year.

SBI Home Loan EMI for ₹ 10 Lakh

The following table shows SBI Housing Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 6.70%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 6.70% 5 Years ₹ 19,660
₹ 10,00,000 6.70% 10 Years ₹ 11,457
₹ 10,00,000 6.70% 15 Years ₹ 8,821
₹ 10,00,000 6.70% 20 Years ₹ 7,574
₹ 10,00,000 6.70% 30 Years ₹ 6,453

SBI Home Loan EMI for ₹ 20 Lakh

The following table shows SBI Housing Loan EMI for ₹ 20,00,000 for different tenures at an interest rate of 6.70%

Loan Amount Interest rate Tenure (Year) EMI
₹ 20,00,000 6.70% 5 Years ₹ 39,320
₹ 20,00,000 6.70% 10 Years ₹ 22,914
₹ 20,00,000 6.70% 15 Years ₹ 17,643
₹ 20,00,000 6.70% 20 Years ₹ 15,148
₹ 20,00,000 6.70% 30 Years ₹ 12,906

SBI Home Loan EMI for ₹ 30 Lakh

The following table shows SBI Housing Loan EMI for ₹ 30,00,000 for different tenures at an interest rate of 6.70%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 6.70% 5 Years ₹ 58,980
₹ 30,00,000 6.70% 10 Years ₹ 34,370
₹ 30,00,000 6.70% 15 Years ₹ 26,464
₹ 30,00,000 6.70% 20 Years ₹ 22,722
₹ 30,00,000 6.70% 30 Years ₹ 19,358

SBI Home Loan EMI for ₹ 50 Lakh

The following table shows SBI Housing Loan EMI for ₹ 50,00,000 for different tenures at an interest rate of 6.70%

Loan Amount Interest rate Tenure (Year) EMI
₹ 50,00,000 6.70% 5 Years ₹ 98,300
₹ 50,00,000 6.70% 10 Years ₹ 57,284
₹ 50,00,000 6.70% 15 Years ₹ 44,107
₹ 50,00,000 6.70% 20 Years ₹ 37,870
₹ 50,00,000 6.70% 30 Years ₹ 32,264

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FAQs

Will the SBI home loan EMI remain constant or change in future?

No, your SBI Home Loan EMI can change if you have taken a floating rate loan and there is a change in the repo rate to which the home loan rate has been benchmarked. However, if it is a fixed rate loan, the SBI Home Loan EMI will remain unchanged throughout the loan tenure unless you request for a change in tenure or prepay your loan amount.

What happens in case of increase or decrease in SBI interest rate?

SBI offers floating rate home loans only. If you take a floating rate loan from SBI, your interest rate and hence EMI will decrease with a cut in the repo rate and increase with an increase in repo rate on the date of reset. This means that your SBI home loan EMI can keep fluctuating during the loan tenure depending on the changes in interest rates.

Will SBI home loan EMI change in case of prepayment?

SBI allows prepayment at nil charges in case of floating rate home loans. When you make a prepayment, the outstanding balance of the principal amount on your SBI home loan reduces. In this case, you may choose to either keep the EMI same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure the same (that is paying a lesser amount every month). It is beneficial to keep the SBI home loan EMI constant and reduce the loan tenure as you pay less interest to the bank in this option. After prepayment, you can calculate your home loan EMI using SBI home loan calculator.

Why should I calculate SBI loan EMI before taking a loan?

It is advised to calculate SBI home loan EMI before taking a home loan. There are several benefits of calculating your SBI housing loan EMI which can be done using SBI loan calculator SBI housing loan EMI calculator as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and make SBI EMI affordable.
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly
  • Based on the EMI amount, you can opt for making a prepayment of your home loan in the future when you have a surplus amount. You can calculate the aftermaths of prepayment using home loan emi calculator SBI.

What is the EMI for home loan in SBI?

The SBI EMI will vary based on loan amount, tenure, rate of interest and can be calculated using SBI home loan calculator. Based on the lowest rate of 6.70% and maximum tenure of 30 years, the SBI home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 6,453
₹ 12 Lakh ₹ 7,743
₹ 15 Lakh ₹ 9,679
₹ 30 Lakh ₹ 19,358
₹ 50 Lakh ₹ 32,264

You can compare SBI home loan EMI for different loan amounts and tenure and then choose the loan amount based on your repayment capacity.

How accurate is a SBI Housing Loan EMI calculator?

Online SBI housing loan calculators use technology to calculate the results and hence, if the data entered by you is correct the results should be 100% accurate.The calculator works on a mathematical algorithm based on the formula: P*r* (1+r)^n/([(1+r)^n]-1). Here, P is the loan amount, r is the rate of interest per month and n is the tenure in month. The SBI home loan emi calculator is far better than manual calculations , as chances of error are less.

How to pay your SBI Home loan EMI Online?

To pay the EMI of SBI home loan, you can log in to your net banking account as provided during the time of availing the loan and pay using your savings account or debit/credit card. You can also visit the branch and submit the cheque of your EMI.

How is SBI home loan EMI calculated?

The SBI Home loan EMI calculation formula is as follows:
E = [P x R x (1+R)^N]/[(1+R)^N-1] where
‘E’ means Equated monthly instalments
‘P’ means the principal amount
‘N’ is the number of monthly instalments
‘R’ is the interest rate per month.

What is the EMI for ₹ 10 Lakh home loan in SBI?

You can use a 10 lakh home loan emi calculator SBI, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 6.70% 10 years loan ₹ 11,457
₹ 10 Lakh 6.70% 15 years loan ₹ 8,821
₹ 10 Lakh 6.70% 20 years loan ₹ 7,574

What is the EMI for ₹ 20 Lakh home loan in SBI?

You can use a 20 lakh home loan emi calculator SBI, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 20 Lakh 6.70% 10 years loan ₹ 22,914
₹ 20 Lakh 6.70% 15 years loan ₹ 17,643
₹ 20 Lakh 6.70% 20 years loan ₹ 15,148

What is the EMI for ₹ 30 Lakh home loan in SBI?

You can use a 30 lakh home loan emi calculator SBI, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 6.70% 10 years loan ₹ 34,370
₹ 30 Lakh 6.70% 15 years loan ₹ 26,464
₹ 30 Lakh 6.70% 20 years loan ₹ 22,722

What is the EMI for ₹ 50 Lakh home loan in SBI?

You can use a 50 lakh home loan emi calculator SBI, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 50 Lakh 6.70% 10 years loan ₹ 57,284
₹ 50 Lakh 6.70% 15 years loan ₹ 44,107
₹ 50 Lakh 6.70% 20 years loan ₹ 37,870

What is the EMI for a 25 lakhs home loan in SBI and how is it calculated?

EMI for ₹ 25 lakhs will be as follows for three different tenure, as per 25 lakh home loan emi calculator SBI:--

Loan amount Interest rate Tenure EMI
₹ 25 Lakh 6.70% 10 years loan ₹ 28,642
₹ 25 Lakh 6.70% 15 years loan ₹ 22,053
₹ 25 Lakh 6.70% 20 years loan ₹ 18,935

What is the EMI for 12 lakhs home loan in SBI?

A borrower will pay ₹ 12,150 if he/she takes a loan for 12 years at an interest rate of 6.70%. The 12 lakh home loan emi SBI may vary across SBI home loan interest rate.

Compare Home Loan EMI of All Banks


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SBI Home Loan News - Jul 2021
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    State Bank of India (SBI) has announced offering restructuring of loans to its eligible personal segment borrowers who availed personal loans, home loans, loans against property, Xpress credit, education loans and auto loans before April 1, 2021.
  • 2021-06-18 : SBI kept its Marginal cost of lending rates unchanged
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  • 2021-05-04 : SBI revised its home loan rates to 6.70%
    State Bank of India revised its home loan rates to 6.70%. The new home loan rates will be effective from 03 March 2021.
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