State Bank Travancore Home Loan EMI Calculator

State Bank Travancore Home Loan - Lowest EMI is Rs. 819 per lakh

Last Updated 26th Feb 2017
  • Get monthly EMI as low as Rs. 819 per lakh with State Bank of Travancore now offering home loans with loan tenure upto 30 years.
  • Lowest home loan interest rate currently offered by State Bank of Travancore is 9.20%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,026 for a 15 year loan and Rs. 913 for a 20 year loan. Check the EMI for other tenures using the State Bank of Travancore home loan EMI calculator on this page.

Home Loan EMI Calculator State Bank of Travancore

State Bank of Travancore Home Loan EMI Calculator

State Bank Travancore Home Loan EMI

  • Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to State Bank of Travancore against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With State Bank of Travancore offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 819 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by State Bank of Travancore on Home Loan is 9.20%.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 25,65522,81620,476
    5,000,000 51,31045,63140,953
    7,500,000 76,96568,44761,429
    10,000,000 102,62091,26381,905
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

State Bank Travancore Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how State Bank of Travancore Home Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 1,500,000 to Rs. 50,000,000
r = Rate of interest per month. Current rate is 9.20%, which is linked to State Bank Travancore 1 Year MCLR, which is currently 8.55%. Last revised on 01st Feb 17
n = tenure in month. For State Bank of Travancore, this can be 360 months

Will the State Bank Travancore home loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

  • Typically, the home loan EMI remains unchanged unless the customer requests for a change and the same is approved by State Bank of Travancore subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI)
  • In case the floating rate of interest on your home loan increases, State Bank of Travancore will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by State Bank of Travancore, the bank may increase your EMI amount.
  • For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement.

Will home loan EMI change in case of prepayment?

  • State Bank of Travancore allows prepayment at nil charges or penalty in case of floating rate home loans.
  • When you make a prepayment, the outstanding principal amount on your home loan reduces. In this case, you may choose to either keep the EMI the same and reduce the loan tenure (that is pay off the loan faster) or reduce the EMI and keep the loan tenure the same (that is pay lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.
State Bank Travancore Home Loan EMI Calculator News - Feb 2017
26th Apr 16 State Bank of Travancore Q4 profit falls 67.63 per cent
State Bank of Travancore said its net profit for the March quarter fell 67.63% due to higher provisions. Net profit for the quarter stood at Rs.62.14 crore as compared to Rs.191.97 crore a year ago. Net interest income increased 8.6% to Rs.631.31 crore from Rs.581.40 crore last year. In December, RBI asked banks to make adequate provisions for these stressed assets over the third and fourth quarters of the current fiscal year. This could hit the profitability of some banks.
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