SBI Home Loan EMI Calculator

SBI home loan comes with low interest rate and flexible tenure facility along with a higher loan amount facility to help you buy your dream home. The bank also has its own home loan EMI calculator to help you know the EMI.

Apply SBI Home Loan @ 7.55%* Rate

EMI Calculator for Home Loan
Loan Amount (₹)
Interest Rate (%)
Tenure (Month)
Results
Loan Amount
Interest Rate
Tenure(Months)
Monthly Instalment (EMI)
Total Interest Amount
Total Amount (Principal + Interest)
YearPrincipalInterestBalance Amount

SBI Home Loan Interest Rate August 2022

ParticularsDetails
Home Loan Interest Rate7.55%-8.05%
Loan AmountCustomized
TenureUp to 30 years
Processing Fees0.35% of the loan amount + GST

Minimum 2000/- + GST

Maximum of 10000/- + GST Advocate & Valuer Fee - Actual expenses will be realised separately.
Prepayment ChargesNIL

SBI Home Loan EMI Calculator August 2022

In a home loan calculator, you need to mention the loan amount, the home loan interest rate and the tenure for which you want to take the loan. Based on these details, you get the table with the information about the EMI, the total interest outgo and the total amount (interest+principal) for each year till the last year of the loan.

Here is an example:

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 20,00,0008.70%1₹ 1,74,625₹ 95,498₹ 20,95,498
₹ 20,00,0008.70%2₹ 91,094₹ 1,86,267₹ 21,86,267
₹ 20,00,0008.70%3₹ 63,321₹ 2,79,541₹ 22,79,541
₹ 20,00,0008.70%4₹ 49,486₹ 3,75,312₹ 23,75,312
₹ 20,00,0008.70%5₹ 41,226₹ 4,73,567₹ 24,73,567
₹ 20,00,0008.70%6₹ 35,754₹ 5,74,289₹ 25,74,289
₹ 20,00,0008.70%7₹ 31,874₹ 6,77,457₹ 26,77,457
₹ 20,00,0008.70%8₹ 28,990₹ 7,83,049₹ 27,83,049
₹ 20,00,0008.70%9₹ 26,769₹ 8,91,036₹ 28,91,036
₹ 20,00,0008.70%10₹ 25,012₹ 10,01,390₹ 30,01,390
₹ 20,00,0008.70%11₹ 23,591₹ 11,14,076₹ 31,14,076
₹ 20,00,0008.70%12₹ 22,424₹ 12,29,060₹ 32,29,060
₹ 20,00,0008.70%13₹ 21,451₹ 13,46,301₹ 33,46,301
₹ 20,00,0008.70%14₹ 20,630₹ 14,65,760₹ 34,65,760
₹ 20,00,0008.70%15₹ 19,930₹ 15,87,393₹ 35,87,393
₹ 20,00,0008.70%16₹ 19,329₹ 17,11,154₹ 37,11,154
₹ 20,00,0008.70%17₹ 18,809₹ 18,36,996₹ 38,36,996
₹ 20,00,0008.70%18₹ 18,356₹ 19,64,870₹ 39,64,870
₹ 20,00,0008.70%19₹ 17,959₹ 20,94,725₹ 40,94,725
₹ 20,00,0008.70%20₹ 17,610₹ 22,26,510₹ 42,26,510
₹ 20,00,0008.70%21₹ 17,302₹ 23,60,171₹ 43,60,171
₹ 20,00,0008.70%22₹ 17,029₹ 24,95,655₹ 44,95,655
₹ 20,00,0008.70%23₹ 16,786₹ 26,32,907₹ 46,32,907
₹ 20,00,0008.70%24₹ 16,569₹ 27,71,872₹ 47,71,872
₹ 20,00,0008.70%25₹ 16,375₹ 29,12,496₹ 49,12,496
₹ 20,00,0008.70%26₹ 16,201₹ 30,54,722₹ 50,54,722
₹ 20,00,0008.70%27₹ 16,045₹ 31,98,496₹ 51,98,496
₹ 20,00,0008.70%28₹ 15,904₹ 33,43,761₹ 53,43,761
₹ 20,00,0008.70%29₹ 15,777₹ 34,90,464₹ 54,90,464
₹ 20,00,0008.70%30₹ 15,663₹ 36,38,551₹ 56,38,551

EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

YearPrincipalInterestBalance Amount
1₹ 14,521₹ 1,73,430₹ 19,85,478
2₹ 15,836₹ 1,72,115₹ 19,69,641
3₹ 17,270₹ 1,70,681₹ 19,52,370
4₹ 18,834₹ 1,69,117₹ 19,33,536
5₹ 20,540₹ 1,67,411₹ 19,12,995
6₹ 22,400₹ 1,65,551₹ 18,90,595
7₹ 24,428₹ 1,63,523₹ 18,66,166
8₹ 26,640₹ 1,61,311₹ 18,39,526
9₹ 29,053₹ 1,58,898₹ 18,10,472
10₹ 31,684₹ 1,56,267₹ 17,78,788
11₹ 34,553₹ 1,53,398₹ 17,44,235
12₹ 37,682₹ 1,50,269₹ 17,06,552
13₹ 41,094₹ 1,46,857₹ 16,65,458
14₹ 44,815₹ 1,43,136₹ 16,20,642
15₹ 48,874₹ 1,39,078₹ 15,71,768
16₹ 53,299₹ 1,34,652₹ 15,18,468
17₹ 58,126₹ 1,29,825₹ 14,60,341
18₹ 63,390₹ 1,24,562₹ 13,96,951
19₹ 69,130₹ 1,18,821₹ 13,27,821
20₹ 75,390₹ 1,12,561₹ 12,52,431
21₹ 82,217₹ 1,05,734₹ 11,70,213
22₹ 89,662₹ 98,289₹ 10,80,551
23₹ 97,781₹ 90,170₹ 9,82,769
24₹ 1,06,636₹ 81,315₹ 8,76,133
25₹ 1,16,292₹ 71,659₹ 7,59,840
26₹ 1,26,823₹ 61,128₹ 6,33,016
27₹ 1,38,307₹ 49,644₹ 4,94,709
28₹ 1,50,832₹ 37,119₹ 3,43,876
29₹ 1,64,490₹ 23,461₹ 1,79,385
30₹ 1,79,498₹ 8565₹ 0

With a loan EMI calculator, you can prepare yourself in advance for the future payments and manage the finances accordingly. Also, you can use it as many times as you want not only before applying for a home loan, but even during the loan to know how much you have paid and how much you is left to pay.

EMI Calculation Formula

The EMI calculator functions based on the below-mentioned formula:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

where,

EMI = Equated Monthly Installment

P = Principal Loan Amount

R = Monthly Interest Rate

N = Number of Monthly Installments

SBI Home Loan Eligibility Calculator

Just like other loans, home loans are also given based on the repayment capacity of the applicant. Since it is also a debt, SBI takes into account the salary or income of the applicant before deciding the loan amount. There is also a facility to calculate the eligibility for a home or housing loan. You can use an eligibility calculator to calculate your home loan eligibility and check whether or not you can get the approval.

You can also look at the general eligibility criteria for a home loan which includes the minimum age criteria, income, and the work experience for both salaried and self-employed individuals.

  • The age of the applicant or co-applicant should be between 18-70 years at the time of applying for the home loan.
  • The minimum Net Monthly Income (NMI) required for a salaried person is ₹10,000 and the minimum Net Annual Income for a self-employed is ₹2,00,000 (p.a.).

Frequently Asked Questions

1. How is EMI calculated for SBI home loan?

EMI = [P x R x (1+R)^N]/[(1+R)^N-1],
Where,
P stands for the ‘Principal Amount’,
R denotes the rate of interest set by the bank, and
N is the number of years for which the loan has been taken. Since, the EMIs are paid every month, the duration is calculated in the number of months.

2. How can I pay my SBI home loan EMI online?

You can pay your SBI home loan EMI online by transferring the funds from your savings account to the loan account via NEFT.

3. Can we pay more than EMI in home loan SBI?

Yes, you can pay more than the EMI amount in SBI home loan. However, you can only pay one extra EMI than the usual number of EMI each year.

4. What happens if SBI home loan EMI is missed?

SBI charges a penalty fee if you miss your home loan EMI. However, the amount charged could vary and can be around 1% to 2% of the due EMI amount.

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