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SBI Loan Against Property EMI Calculator

SBI Mortgage Loan EMI

Last Updated 01st Mar 2021

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
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    Bank/NBFCs Rate* EMI per Lakh* Action
    SBI8.80%₹ 1,002Check Eligibility
    Citibank7.50%₹ 927Check Eligibility
    HDFC8.35%₹ 976Check 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 ₹ 15 Lakh from SBI for 10 years at an interest rate of 8.80%, the EMI calculated for this loan amount would be ₹ 18,839 and the total annual EMIs to be paid annually is ₹ 2,26,073. The SBI Loan Against Property EMI schedule for 10 years is explained below in the table –

    Amortization Schedule for a Loan Against Property of ₹ 15 Lakh over the 10 years

    Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
    2021 ₹ 1,07,362 ₹ 81,032 ₹ 1,88,394 ₹ 14,18,968
    2022 ₹ 1,20,686 ₹ 1,05,387 ₹ 2,26,073 ₹ 13,13,581
    2023 ₹ 1,11,028 ₹ 1,15,044 ₹ 2,26,073 ₹ 11,98,537
    2024 ₹ 1,00,486 ₹ 1,25,587 ₹ 2,26,073 ₹ 10,72,950
    2025 ₹ 88,978 ₹ 1,37,095 ₹ 2,26,073 ₹ 9,35,855
    2026 ₹ 76,415 ₹ 1,49,658 ₹ 2,26,073 ₹ 7,86,197
    2027 ₹ 62,700 ₹ 1,63,372 ₹ 2,26,073 ₹ 6,22,825
    2028 ₹ 47,729 ₹ 1,78,343 ₹ 2,26,073 ₹ 4,44,482
    2029 ₹ 31,386 ₹ 1,94,686 ₹ 2,26,073 ₹ 2,49,795
    2030 ₹ 13,546 ₹ 2,12,527 ₹ 2,26,073 ₹ 37,268
    2031 ₹ 410 ₹ 37,268 ₹ 37,679 ₹ 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 43.33% of your EMI has been used to repay the principal amount. This means that the remaining 56.67% of the EMI went into interest payment. Thus, you end up paying only 6.53% of the loan amount of ₹ 15 Lakh after paying 12 EMIs in the first year to SBI.

    In year 10, the interest component of SBI EMI is around 4.61%, while the principal component is around 95.39%. Upto 10 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.

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    SBI Loan Against Property News - Mar 2021
    • 2020-12-10 : SBI recasts only 4,000 retail loans
      SBI has recast loans of just around 4,000 retail customers so far under the limited window of the RBI, indicating that barring micro, small and medium businesses, not many are availing of easier repayment norms. The bank clarified that 100,000 retail borrowers logged on to its website to check their eligibility, but not many were found to have met the stringent conditions set by RBI.
    • 2020-12-10 : SBI goes easy on a plan to spin off Yono
      State Bank of India is going slow on its plans to divest its stake in digital platform Yono, YONO is a digital initiative by SBI and stands for “You Only Need One”. YONO helps customers to apply for retail loans like home, personal, gold, two-wheeler and car loan along with business and mudra loans digitally. Further, it also helps in investing in FD and RDs. The special digital tool also provides the facility to apply for the current and savings account.
    • 2020-11-05 : SBI net profit rises to ₹4,574 crores in Q2
      SBI September quarter net profit jumped 52% year-on-year to Rs 4,574.16 crore as the provisions declined during the quarter. Credit growth for the bank logged an improvement of 6.02% over the previous year driven by home, personal, car, two-wheeler and gold loan along with mudra and business loan. Total advances at the end of Q2 were at Rs 23.83 trillion. Further, total Deposits which includes fixed and recurring deposits grew at 14.4% on a yearly basis to Rs 34.70 trillion, out of which current account deposit grew by 8.55% YoY while saving bank deposits grew by 16.28 per cent YoY.
    • 2020-09-22 : SBI offers up to 2 years repayment relief for home and retail loans
      State Bank of India announced the option to choose either a moratorium of up to 24 months or reschedule the instalments and extend the tenure by a period equivalent to the moratorium granted, for its retail customers. ​​​The bank is aiming to assist the customers amid the COVID 19 and economic slowdown.
    • 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.
    *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
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