SBI Loan Against Property EMI Calculator

Lowest EMI on SBI Loan Against Property - Rs. 1,065 per lakh

Last Updated 06th Jan 2017
Loan Tenure
Loan Amount (Rs.) 7 years 10 years 15 years
2,500,000 Rs. 41,309 Rs. 32,830 Rs. 26,636
5,000,000 Rs. 82,619 Rs. 65,661 Rs. 53,272
7,500,000 Rs. 123,928 Rs. 98,491 Rs. 79,909
10,000,000 Rs. 165,238 Rs. 131,322 Rs. 106,545

Check SBI Loan Against Property EMI for a loan amount and tenure

SBI Loan Against Property EMI Calculator
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  • Loan Against Property EMI (or equated monthly instalment) is a fixed amount of money you pay SBI towards repayment of your property loan every month on a fixed day of the month till your loan is fully paid back.
  • With SBI now offering loan tenure upto 18 years at attractive interest rates starting is 9.85%, your EMI can be as low as Rs. 1065 per Rs. one lakh loan amount.
  • The Loan Against Property EMI comprises of both principal repayment and interest payment. While the EMI amount remains constant, the interest component of keeps reducing and the principal component keeps increasing, except in case of an increase in interest rate on the loan.
Use the above quick and easy tool to easily calculate and compare monthly EMI on SBI Loan Against Property.

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

  • 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 an 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?

  • 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 pay off the loan faster) or reduce the EMI and keep the loan tenure unchanged (thus paying 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?

  • EMI is calculated using a combination of loan amount, loan tenure and interest rate.
  • EMI is calculated 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.
SBI Loan Against Property EMI Calculator News - Mar 2017
29th Mar 17 GST to be levied on rents and EMI on under construction property from 1st July, 2017
Finance Minister has made an announcement that GST will be applicable on leasing of lands, renting of buildings as well on EMIs paid on loans taken for the purchase of under construction property. However, sale proceeds of a housing property has been kept out of GST tax regime. Banking expert at HDFC Bank has pointed told that GST will be applied only on the sale of under construction property as the sale of completed property is not treated as goods and services under GST rules. The new indirect tax regime will be effective from 1st July, 2017.
24th Mar 17 Farm loan waiver affects credit discipline
Officer at RBI agreed with SBI’s chief that the farm loan waiver will affect and disturb the credit discipline of the Indian banking industry. As per SBI chief, in lieu of farm loan waiver borrowers are likely to demand more such loan waivers which will eventually increase the number of unpaid loans of the banks. The demand for farm loan waiver came from the various political parties including Maharashtra opposition party, Shiv Sena and Karnataka government.
17th Mar 17 Ahead of merger, loan processing at associate banks may get delayed
State Bank of India is in process of completion of merger with its five associate banks on 1st April, 2017. As per bank sources, loan processing and banking services at associate banks may get disrupted during end of March, 2017. SBI has notified the associate banks to complete disbursements of existing loans across various segments including loan against property, home loan and personal loans by 25th March, 2017.
03rd Jan 17 SBI reduces loan against property rates to 9.85 percent
State Bank of India has reduced its loan against property rates for loan amount up to 1 crore to 9.85 percent as compared to 10.35 percent earlier. The revised LAP rates for loan amount up to Rs. 2 crores is reduced by 65 basis points to 10.35 percent. The rates are effective from 1st January, 2017.
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