SBI Personal Loan EMI Calculator - Feb 2017

SBI Personal Loan Calculator

Lowest EMI on SBI Personal Loan - Rs. 2,658 per lakh
Last Updated 28th Feb 2017
Loan Tenure
Loan Amount (Rs.) 2 Years 3 Years 5 Years
100,000 Rs. 4,731 Rs. 3,345 Rs. 2,250
300,000 Rs. 14,192 Rs. 10,036 Rs. 6,749
500,000 Rs. 23,654 Rs. 16,727 Rs. 11,249
1,000,000 Rs. 47,307 Rs. 33,454 Rs. 22,498

Factors affecting SBI Personal Loan EMI

  • Borrower age should be between 21 years to maximum 58 years.
  • Maximum personal loan amount offered by SBI is upto Rs. 1,500,000.
  • Interest rates range from 12.50% to 16.60% depending upon customer profile, loan amount and other factors.
  • Processing fee in SBI may be 2.02% to 3.03% of loan amount.
SBI Personal Loan EMI Calculator

SBI Personal Loan EMI

  • Personal Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to SBI 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 SBI offering Personal Loans with loan tenure upto 5 years, the loan EMI can be as low as Rs. 2658 per lakh, to make it more affordable and convenient to meet your personal needs. Rate of interest offered by SBI are as low as 12.50%.
  • 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.

SBI Personal Loan calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how SBI Personal Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 10,000 to Rs. 1,500,000
r = Rate of interest per month. Current rate is 12.50%
n = tenure in month. For SBI, this can be 48 months

Personal loan EMI calculator SBI - How it works?

  • This calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.
  • This calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

Personal Loan EMI - EMI Changes in case of prepayment

    In case you prepay your personal loan, the outstanding balance on your personal loan reduces. SBI gives you two options:
  • Reduce your loan tenure and keep your personal EMI same
  • Reduce the amount of EMI and keep your loan tenure same
  • It is better to keep the EMI constant and reduce the loan tenure as you pay less interest to the SBI in this option.

Frequently Asked Questions on SBI EMI Calculator

What is the lowest EMI per lakh offered by SBI on personal loan?

SBI offers personal loan at 12.50% interest rate and hence lowest EMI on per lakh loan amount is Rs. 2,658.

Can I prepay my SBI personal loan?

SBI offers you an option of prepayment after 1 months at Nil prepayment charges.

Is there any processing charge on personal loan from SBI?

Personal Loan from SBI charges a processing fee of 2.02% to 3.03%.

SBI Personal Loan EMI Calculator Customer Care Number, Email, Application Login, Branches

City Customer Care Number
Agra 979-350-2211
Ahmedabad 972-434-2211
Ambala 999-637-2211
Anand 972-434-2211
Aurangabad 973-001-2211
Bangalore 973-193-2211
Bhilai 989-328-2211
Bhilwara 979-933-2211
Bhiwadi 973-001-2211
Bhopal 989-328-2211
Bhubaneswar Cuttack 977-745-2211
Bikaner 979-933-2211
Chandigarh 977-916-2211
Chennai 979-094-2211
Cochin 999-539-2211
Coimbatore 979-191-2211
Dehradun 976-020-2211
Delhi 995-880-2211
Durg 989-328-2211
Faridabad 995-880-2211
Gandhinagar 972-434-2211
Ghaziabad 995-880-2211
Goa 973-001-2211
Greater Noida 995-880-2211
Gurgaon 995-880-2211
Guwahati 995-705-2211
Gwalior 989-328-2211
Hyderabad 995-919-2211
Indore 989-328-2211
Jabalpur 989-328-2211
Jaipur 979-933-2211
Jalandhar 977-916-2211
Jodhpur 979-933-2211
Kanpur 979-350-2211
Karnal 999-637-2211
Kolhapur 973-001-2211
Kolkata 974-842-2211
Kota 979-933-2211
Kozhikode 999-539-2211
Lucknow 979-350-2211
Ludhiana 977-916-2211
Madurai 979-191-2211
Meerut 976-020-2211
Mehsana 972-434-2211
Mohali Sas Nagar 977-916-2211
Mumbai 998-755-2211
Mussoorie 976-020-2211
Nagpur 973-001-2211
Nashik 973-001-2211
Noida 995-880-2211
Noida Extn. 995-880-2211
Panipat 999-637-2211
Patna 995-595-2211
Pondicherry 979-191-2211
Pune 973-001-2211
Raipur 989-328-2211
Rajkot 972-434-2211
Ranchi 995-595-2211
Rohtak 999-637-2211
Roorkee 976-020-2211
Salem 979-191-2211
Shimla 980-509-2211
Sonepat 999-637-2211
Surat 972-434-2211
Trichy 979-191-2211
Udaipur 979-933-2211
Vadodara 972-434-2211
Varanasi 979-350-2211
Vijaywada 995-919-2211
Vizag 995-919-2211
SBI Personal Loan EMI Calculator News - Feb 2017
06th Feb 17 Aadhaar based payments to be a trend changer in digital world
Managing Director of SBI has opined that Aadhaar based payments can be a game changer in the digital world due to its increased customer acceptance post demonetisation. The bank has installed 78,000 point of sales machines in the last 60 days. Aadhaar based payments enable the customers to make payments by using their aadhaar number.
03rd Feb 17 SBI launches combo Metro Cards
State Bank of India has launched combo Metro Card for the commuters of metro rails in Chennai. Combo Metro Card carries dual benefit to the consumers. The metro card can be used for the access on metro stations and also as a shopping cum ATM debit card. The bank will also issue a credit card variant of the combo metro card to the consumers.
01st Feb 17 SBI to increase its stake in two credit card joint ventures
State Bank of India is expected to increase its share holding in two of its credit card joint ventures with diversified American conglomerate GE. The bank expects to increase its stake to 51 percent from the existing share of 40 percent in back office and technology arm of GE and to 74 percent from 60 percent in SBI cards and payments.
17th Jan 17 State Bank of India likely to increase its stake in its credit card joint venture SBI cards
SBI is likely to increase its stake in its credit card joint venture named as SBI cards and payments services (SBICPSL). SBI expects to complete the deal by March, 2017. Currently, SBI with 47.6 lakh credit cards has the second largest number of credit cards in circulation in the country.
17th May 16 Govt can park surplus funds with banks, says SBI chief
SBI has sounded the alarm after deposit growth slowed to 9.9% in FY16, with chairman calling for the government to park surplus funds with banks instead of the RBI to make up for fund shortage. SBI has also raised concerns over slow growth in loans to industry, which grew by only 2.7% in FY16 as compared to 5.6% in FY15. The government ends up with a short term surplus because of the gap between its revenue mobilization and actual expenditure. Unlike corporate money, which even if unutilized is available with the banking system, unspent government money remains idle with the RBI.
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