MyLoanCare is a FREE of cost service for borrowers

Get Cashback of Upto ₹ 1,000* on Property Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

SBI Loan Against Property EMI Calculator

SBI Mortgage Loan EMI

Last Updated 18th Sep 2020

Get monthly EMI as low as ₹ 1,002 per lakh on SBI loan against property. Mortgage loan EMI in SBI depends upon type of property (residential, commercial, industrial), occupation (businessmen, self employed, salaried), loan amount, loan tenure and interest rate.

Loan Amount5 Year Loan7 Year loan15 Year loan
₹ 10 Lakh₹ 20,661₹ 15,988₹ 10,024
₹ 25 Lakh₹ 51,654₹ 39,969₹ 25,060
₹ 40 Lakh₹ 82,646₹ 63,951₹ 40,096
Loan Against Property EMI Calculator
Lowest Interest Rate
Best Offers on Loan Against Property offerOffers
Bank/NBFCs Rate* EMI per Lakh* Action
SBI8.80%₹ 1,002Check Eligibility
Citibank8.45%₹ 982Check Eligibility
HDFC8.75%₹ 999Check Eligibility

* Starting From

Loan Against Property EMI Calculator SBI

Use the above quick and easy tool to easily calculate and compare monthly EMI on SBI Loan Against Property.

SBI Loan Against Property Amortization Calculator

The amortization schedule breaks the month-wise calculation of principal and interest amount you will be paying in the form of your EMIs. In simple words, with each month’s EMI, the share of interest and the principal amount keeps changing, while the former keeps on reducing the later keep on increasing. That’s why if you decide to prepay your loan in the first few years you will find out that you have paid a very small proportion of the principal sum. Let us understand this better with the help of an illustration.

Illustration: How to read an amortization schedule

Suppose you borrow a Loan Against Property of ₹ 10 Lakh from SBI for 5 years at an interest rate of 8.80%, the EMI calculated for this loan amount would be ₹ 20,661 and the total annual EMIs to be paid annually is ₹ 2,47,937. The SBI Loan Against Property EMI schedule for 5 years is explained below in the table –

Amortization Schedule for a Loan Against Property of ₹ 10 Lakh over the 5 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2020 ₹ 28,744 ₹ 53,902 ₹ 82,646 ₹ 9,46,098
2021 ₹ 76,449 ₹ 1,71,488 ₹ 2,47,937 ₹ 7,74,611
2022 ₹ 60,735 ₹ 1,87,202 ₹ 2,47,937 ₹ 5,87,408
2023 ₹ 43,580 ₹ 2,04,357 ₹ 2,47,937 ₹ 3,83,051
2024 ₹ 24,853 ₹ 2,23,084 ₹ 2,47,937 ₹ 1,59,967
2025 ₹ 5,324 ₹ 1,59,967 ₹ 1,65,291 ₹ 0

Each SBI Loan Against Property EMI consists of both amounts of interest as well as the principal repaid. The interest component of EMI goes down while the principal component goes up in both cases while doing the calculation.

As you assess the amortization table, you will find that by the end of 1st year 67.17% of your EMI has been used to repay the principal amount. This means that the remaining 32.83% of the EMI went into interest payment. Thus, you end up paying only 16.65% of the loan amount of ₹ 10 Lakh after paying 12 EMIs in the first year to SBI.

In year 5, the interest component of SBI EMI is around 4.61%, while the principal component is around 95.39%. Upto 5 years, you have cumulatively repaid 100% of your total SBI Loan Against Property.

How to process for Loan Against Property EMI moratorium in SBI?

After the announcement of RBI on 22nd May 2020, SBI has extended the loan moratorium for the term loans and interest of working capital loans to next three months till August 2020. As a borrower, you have the option to opt-in or opt-out of the moratorium by informing SBI. The interest will continue to accrue on the principal outstanding during this moratorium and the accumulated interest would be added to the principal amount resulting in the extension of loan tenure except in cases where the tenure extension is not possible will increase EMI amount. The moratorium on payment of Loan Against Property EMI’s will not be treated as default and will not have any negative impact on the borrower’s credit score. To know more about the moratorium option, you may contact SBI customer care or its nearest branch.


Will the SBI Loan Against Property EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

SBI Loan against property may change as per the borrower’s financial ability or in case of floating rate of interests offered by the lender. The consequences of the change in SBI LAP EMI are listed as follows:

  • Typically, the Loan Against Property EMI remains unchanged unless the customer requests for a change and the same is approved by SBI 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 loan increases, SBI 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 the extent that the revised loan tenure is more than the maximum permissible by SBI, the bank may increase your EMI amount.

Will Loan Against Property EMI change in case of prepayment?

Similar to all loans, Loan against property also offers the prepayment facility to the loan borrowers. Prepayment of loan leads to certain changes as listed below:

  • When you make a prepayment, the outstanding principal amount on your property loan reduces. You may choose to either keep the EMI the same and reduce the loan tenure (enabling you to pay off the loan faster) or reduce the EMI and keep the loan tenure unchanged (thus paying a 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.
  • Note that SBI may levy prepayment charges except on floating rate property loans sanctioned to individuals.

How does Loan Against Property EMI calculator, calculate Loan Against Property EMI?

Loan against property is a reliable and time-saving tool to calculate the LAP EMI. It functions as follows:

  • EMI is calculated using a combination of the loan amount, loan tenure and interest rate.
  • SBI mortgage loan calculator calculates EMI on a reducing balance basis and assuming payment of EMI in arrears (that is interest is charged for the month preceding the date of EMI payment on EMI date) and not in advance.

How much loan can I get against my property from SBI?

You can avail of a maximum loan of ₹ 7.50 Cr, depending on the value of the property. However, the loan amount cannot be more than 65% of the property value. SBI assesses the property before approving your mortgage loan application.

SBI Loan Against Property Reviews 3.5/5  by 1 customers
MyLoanCare Service
Banks Service
SBI Loan Against Property News - Sep 2020
  • 2020-09-11 : State Bank of India targets 3x growth in retail, MSME gold loans
    SBI is targeting 3x growth in retail loans which includes home, personal, car, two-wheeler and gold loans along with MSME loans. The bank has planned to use YONO, its digital banking platform, to cut down on response time and scale-up activity.
  • 2020-09-11 : SBI to launch online application window for retail recasts
    SBI is planning to launch a portal on its website to enable its customers to apply for the restructuring of loans. Loans include retail loans like home, personal, gold, two-wheeler, and two-wheeler along with business loans. The portal is set for a September-15 launch; it will allow borrowers to ascertain their eligibility for recast in two to three days. SBI adds a security feature to its debit cum ATM cards
  • 2020-08-06 : SBI reports Q1FY21 net profit of Rs. 4776.50 crore
    State Bank of India reported a net profit of Rs.4776.50 crores for the period ended June 30, 2020, as against a net profit of Rs.6909.95 crores for the period ended March 31, 2020. The Bank posted a total income of Rs.87984.33 crores backed by retail loans like home, personal, car, two-wheeler, and gold loan along with the business and mudra loans. Further, the bank total deposits which include FD, RD, current and savings account grew at 15.96 per cent YoY.
  • 2020-05-01 : SBI revised the rates of loan against property
    State Bank of India changed the rate of loan against property, with effect from 1 May 2020. The LAP rate for salaried and non- salaried for the loan amount upto Rs. 1 crore if the residential property is self- occupied is 9.20%. Further, it is 9.70% if the loan amount is above Rs. 1 crore to up to Rs. 2 crores.
  • 2020-03-31 : SBI likely to offer 3-month moratorium to loan borrowers
    To help its customers cope up with the economic crisis during the loan period, SBI may soon implement a three-month moratorium on loan repayments. Thereby, customers will be relieved of loan repayments schedules during this period. However, the bank will also offer an opt-out facility for customers, who wish to continue making repayments as per their affordability. This applies to all loans like personal loans, loans against property and the MSME loans, amongst others.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
Please wait while your information is being processed...