# SBI Home Loan EMI Calculator

SBI Home Loan Calculator helps borrowers to calculate their monthly EMI instalments even before applying for a home loan. SBI is well-known for sanctioning home loans at competitive interest rates. The SBI Housing Loan Calculator can help borrowers with financial planning and helps in borrowing the exact amount they need to buy their dream home. Therefore, this calculator helps make the loan affordable and helps decrease the individual's financial burden.

• 5 Lac
• 20 Cr
Years
• 5
• 30
%
• 6
• 20

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

## How to Calculate SBI Home Loan EMI Online?

Below is the step by step process to calculate SBI Home loan EMI by using the above SBI housing loan EMI calculator:

STEP 1: Fill in the home loan amount you wish to borrow from the bank to purchase your desired property.

STEP 2: Mention the number of years in which you plan to repay the loan, i.e. the loan tenure.

STEP 3: Enter the interest rate that would be levied on the home loan. It is advisable to keep the interest rate around the current rate for more accuracy.

STEP 4: As soon as you enter these values, you’ll find the following:

• EMI accrued every month
• Total Interest Payable over the Loan Term
• Total Payment accrued over the Loan Term

You’ll also find a table below that’ll give you a brief on how the repayment process will work against your loan balance.

By using the above SBI home loan EMI calculator, we have compiled a table for your reference only,

 Home Loan Amount ₹50,00,000 Loan Tenure 20 Years Rate of Interest 8.40% p.a Home Loan EMI ₹43,075 Interest Payable ₹53,38,000 Total Amount Payable ₹1,03,38,000

Disclaimer: This above table is for your reference only. The interest rate mentioned as per November 2023.

## Benefits of SBI Home Loan Calculator

SBI is one of the largest Indian banks holding ¼ of the market share and providing service to over forty-five crore account holders through a network of 22,000 branches across the country. It is one of the most reputable financial institutions in the country. The bank offers its customers the most sought-after home loan options among its competitors and offers attractive interest rates. Find below the following benefits of utilising the SBI Home Loan Calculator:

### Clarity

The SBI home loan calculator provides utmost clarity to the potential borrowers on their EMI payments. This enables the borrowers to pre-plan and assess the EMI payment before deciding to take the home loan.

### Comparability

The SBI home loan calculator provides an option to compare multiple EMIs, which may vary because of different combinations of the loan amount, interest rate and tenures the borrower may log into the calculator. This allows the borrower to discover an EMI amount that aligns with their budget.

### Accuracy

The calculator is based on a mathematical formula that provides you with an approximate figure that you may use as a reference point. This eliminates significant inaccuracies that might arise from manual calculations, which tend to be extremely time-consuming and inefficient.

### Accessibility

The SBI Home Loan calculator is available online and easily accessed from all electronic devices. The interested individual can easily access the calculator from the comfort of their homes utilising their free time.

Don't miss to check: SBI Home Loan Eligibility Calculator

## Factors Affecting SBI Home Loan EMIs

The SBI Home Loan EMI Calculator considers the following factors while calculating the monthly EMIs against your home loan: Amount The loan amount you’ll borrow from the bank to purchase the property would reflect on your monthly EMI payments.

SBI has established its borrowing limit from 25 lakhs to 7 crores to cater to diverse customers with varying needs across the country.

### Interest Rate

The Interest rate also significantly impacts the monthly EMIs. If the interest rate on the home loan increases, it will add to the EMI and ultimately escalate the loan cost. It is advisable to do meticulous research on the interest rates to avail yourself of the best offer.

### Tenure

The loan tenure plays a significant role in determining the monthly EMIs. The borrower can opt for a longer tenure to diminish the impact of expensive EMIs. Many individuals prefer to pay EMIs over a more extended period than doesn’t dent their monthly budget.

## SBI Home Loan EMI Calculator Formula with Example

The SBI Home Loan Calculator employs the standardized formula to calculate the monthly EMIs

E= {P * R* (1+R)^ N} / {(1+R)^ (N-1)}

where

• E = Monthly EMI payment
• P = Principal (Loan Amount); SBI Home Loan Amount ranges from  Rs 25,00,000 to Rs 7,00,00,000
• R = Rate of Interest per month ( Annual Rate of Interest/12); currently, the interest rate on SBI Housing Loan is 7.05% p.a.
• N = Loan Tenure (In Months); The maximum tenure for a Home Loan is 360 months.

The SBI Home loan calculator provides an accurate projection of the EMIs.

For a better understanding, let us take an example:

Suppose you take a home loan of INR 50,00,000 at an annual Interest rate of 9%. So, the monthly interest rate is going to be 0.75%. And the loan tenure you’ve decided upon is 20 years (240 months).

EMI= {50,00,000* 0.75%* (1+0.75%)^240} / {(1+0.75%)^ (240-1)}

After the calculation you’ll find:

• Monthly EMI on your Loan =  INR 44,986
• Total Interest Payable over the term = INR 5,796,711
• Total Payments made over the Term Loan = INR 10,796,711

## SBI Home Loan Amortisation Schedule

The SBI Home Loan Amortisation schedule gives a monthly breakdown of the repayment process. The detailed amortisation schedule gives clarity to the borrower on the number of principal payments and interest rate that will be levied every month until the completion of the loan tenure. The SBI Home loan calculator gives you an accurate brief on monthly EMI payments.

Let’s glance over the Loan Amortisation Schedule on a home loan of Rs 10,00,000 at a 7.05% interest rate to be paid in ten years.

### Amortisation Schedule for a SBI Home Loan of Rs 10,00,000 over 10 Years (120 Months)

 Month Loan Balance EMI Principal Monthly Interest Outstanding Balance 1 1000000 11637 5762 5875 994238 2 994238 11637 5795 5841 988443 3 988443 11637 5830 5807 982613 4 982613 11637 5864 5773 976750 5 976750 11637 5898 5738 970851 6 970851 11637 5933 5704 964918 7 964918 11637 5968 5669 958951 8 958951 11637 6003 5634 952948 9 952948 11637 6038 5599 946910 10 946910 11637 6074 5563 940836 11 940836 11637 6109 5527 934727 12 934727 11637 6145 5492 928582 13 928528 11637 6181 5455 922401 14 922401 11637 6218 5419 916183 15 916183 11637 6254 5383 909929 16 909929 11637 6291 5346 903638 17 903683 11637 6328 5309 897311 18 897311 11637 6365 5272 890946 19 890946 11637 6402 5234 884543 20 884543 11637 6440 5197 878103 21 878103 11637 6478 5159 871626 22 871626 11637 6516 5121 865110 23 865110 11637 6554 5083 858556 24 858556 11637 6593 5044 851963 25 851963 11637 6631 5005 845332 26 845332 11637 6670 4966 838661 27 838661 11637 6709 4927 831952 28 831952 11637 6749 4888 825203 29 825203 11637 6789 4848 818414 30 818414 11637 6828 4808 811586 31 811586 11637 6869 4768 804717 32 804717 11637 6909 4728 797809 33 797809 11637 6950 4687 790859 34 790859 11637 6990 4646 783869 35 783869 11637 7031 4605 776837 36 776873 11637 7073 4564 769765 37 769765 11637 7114 4522 762650 38 762650 11637 7156 4481 755494 39 755494 11637 7198 4439 748296 40 748296 11637 7240 4396 741056 41 741056 11637 7283 4354 733773 42 733773 11637 7326 4311 726447 43 726447 11637 7369 4268 719078 44 719078 11637 7412 4225 711666 45 711666 11637 7456 4181 704211 46 704211 11637 7499 4137 696711 47 696711 11637 7543 4093 689168 48 689168 11637 7588 4049 681580 49 681580 11637 7632 4004 673948 50 673948 11637 7677 3959 666271 51 666271 11637 7722 3914 658548 52 658548 11637 7768 3869 650781 53 650781 11637 7813 3823 642967 54 642967 11637 7859 3777 635108 55 635108 11637 7905 3731 627203 56 627203 11637 7952 3685 619251 57 619251 11637 7999 3638 611252 58 611252 11637 8046 3591 603207 59 603207 11637 8093 3544 595114 60 595114 11637 8140 3496 586974 61 586974 11637 8188 3448 578785 62 578785 11637 8236 3400 570549 63 570549 11637 8285 3352 562265 64 562265 11637 8333 3303 553931 65 553931 11637 8382 3254 545549 66 545549 11637 8432 3205 537117 67 537117 11637 8481 3156 528636 68 528636 11637 8531 3106 520105 69 520105 11637 8581 3056 511524 70 511524 11637 8631 3005 502893 71 502893 11637 8682 2954 494211 72 494211 11637 8733 2903 485478 73 485478 11637 8784 2852 476693 74 476693 11637 8836 2801 467857 75 467857 11637 8888 2749 458969 76 458969 11637 8940 2696 450029 77 450029 11637 8993 2644 441036 78 441036 11637 9046 2591 431991 79 431991 11637 9099 2538 422892 80 422892 11637 9152 2484 413740 81 413740 11637 9206 2431 404534 82 404534 11637 9260 2377 395274 83 395274 11637 9314 2322 385960 84 385960 11637 9369 2268 376591 85 376591 11637 9424 2212 367166 86 367166 11637 9480 2157 357687 87 357687 11637 9535 2101 348152 88 348152 11637 9591 2045 338560 89 338560 11637 9648 1989 328913 90 328913 11637 9704 1932 319209 91 319209 11637 9761 1875 309447 92 309447 11637 9819 1818 299629 93 299629 11637 9876 1760 289752 94 289752 11637 9934 1702 279818 95 279818 11637 9993 1644 269825 96 269825 11637 10051 1585 259774 97 259774 11637 10110 1526 249663 98 249663 11637 10170 1467 239494 99 239494 11637 10230 1407 229264 100 229264 11637 10290 1347 218974 101 218974 11637 10350 1286 208624 102 208624 11637 10411 1226 198213 103 198213 11637 10472 1165 187741 104 187741 11637 10534 1103 177207 105 177207 11637 10596 1041 166612 106 166612 11637 10658 979 155954 107 155954 11637 10720 916 145234 108 145234 11637 10783 853 134450 109 134450 11637 10847 790 123603 110 123603 11637 10910 726 112693 111 112693 11637 10975 662 101718 112 101718 11637 11039 598 90679 113 90679 11637 11104 533 79575 114 79575 11637 11169 468 68406 115 68406 11637 11235 402 57172 116 57172 11637 11301 336 45871 117 45871 11637 11367 269 34504 118 34504 11637 11434 203 23070 119 23070 11637 11501 136 11569 120 11569 11637 11569 68 0

## FAQs About SBI Home Loan Calculator

### How accurate is the SBI home loan calculator?

The SBI Home Loan Calculator is the first step you take in applying for a home loan. Simply enter the loan amount, interest rate and loan tenure, and it’ll give you an estimation of the monthly EMIs against your home loan.

### What amount of Home loans can I avail of from SBI?

SBI offers its borrowers a home loan eligibility of Rs 25 Lakhs to Rs 7 Crore.

### Does SBI give pre-approved home loans?

You can avail pre-approved loans from SBI through their YONO App. It is to be noted that only pre-selected applicants who check off certain parameters are eligible to avail of this option.

### What are the processing fees for SBI home loans?

SBI charges anywhere between 0.3% to 1% of the total loan amount as their fees.

### How can I pay my SBI home loan EMI online?

You can repay your EMIs online with the help of Net banking. Although you are required to have an online SBI account to avail of this option.

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