Talking about SBI Personal Loan, how can an EMI Calculator be missed? That’s Right! SBI Bank Personal Loan EMI Calculator is a smart and time-saving device that helps you to know the exact calculations of your EMIs, Interest Outgo and Total Amount Payable towards a personal loan in a hassle-free manner. This tool takes into account:
- Loan Amount
- Tenure
- Interest Rate
Apply SBI Personal Loan @ 10.30%* Rate
After feeding these credentials into the device, it will churn out the exact results for you within few seconds. It lets you know whether your EMIs are going to be pocket-friendly in an easy to understand manner.It gives the accurate results instantly, hence is widely used online by loan borrowers.
| Loan Amount | |
| Interest Rate | |
| Tenure(Months) | |
| Monthly Instalment (EMI) | |
| Total Interest Amount | |
| Total Amount (Principal + Interest) |
| Year | Principal | Interest | Balance Amount |
|---|
SBI Personal Loan EMI Calculator Details February 2023
SBI Personal Loan EMI for Different Loan Amounts and Different Tenures at an interest rate of 10.45% per annum
| Amount (in ₹) | 2 Years | 3 Years | 4 Years | 5 Years |
|---|---|---|---|---|
| 1,00,000 | ₹ 4,635 | ₹ 3,248 | ₹ 2,558 | ₹ 2,147 |
| 3,00,000 | ₹ 13,906 | ₹ 9,744 | ₹ 7,674 | ₹ 6,441 |
| 5,00,000 | ₹ 23,176 | ₹ 16,239 | ₹ 12,790 | ₹ 10,735 |
| 7,00,000 | ₹ 32,447 | ₹ 22,735 | ₹ 17,905 | ₹ 15,028 |
| 10,00,000 | ₹ 46,353 | ₹ 32,479 | ₹ 25,579 | ₹ 21,469 |
| 15,00,000 | ₹ 69,529 | ₹ 48,718 | ₹ 38,369 | ₹ 32,204 |
SBI Personal Loan EMI for Different Loan Amounts and Different Tenures at an interest rate of 14.70% per annum
| Amount (in ₹) | 2 Years | 3 Years | 4 Years | 5 Years |
|---|---|---|---|---|
| 1,00,000 | ₹ 4,635 | ₹ 3,248 | ₹ 2,558 | ₹ 2,147 |
| 3,00,000 | ₹ 13,906 | ₹ 9,744 | ₹ 7,674 | ₹ 6,441 |
| 5,00,000 | ₹ 23,176 | ₹ 16,239 | ₹ 12,790 | ₹ 10,735 |
| 7,00,000 | ₹ 32,447 | ₹ 22,735 | ₹ 17,905 | ₹ 15,028 |
| 10,00,000 | ₹ 46,353 | ₹ 32,479 | ₹ 25,579 | ₹ 21,469 |
| 15,00,000 | ₹ 69,529 | ₹ 48,718 | ₹ 38,369 | ₹ 32,204 |
SBI Personal Loan EMI Calculation Formula
In order to calculate an EMI, the calculator uses the below 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
What is the EMI of a 7 lakh personal loan in SBI?
The EMI for a 7 lakhs SBI personal loan depends on the interest rate and loan tenure. So you can see the EMIs at the lowest and the highest Rate of Interest charged on SBI Personal Loans and for the tenure of 36 months and 60 months.
| Loan Amount | ROI 9.60% (36 Months EMI) | ROI 9.60% (60 Months EMI) | ROI 13.60% (36 Months EMI) | ROI 13.60% (60 Months EMI) |
|---|---|---|---|---|
| INR 4 Lakhs | INR 12,832 p.m. | INR 8,420 p.m | INR 13,593 p.m. | INR 9,225 p.m. |
| INR 5 Lakhs | INR 16,040 p.m | INR 10,525 p.m | INR 16,992 p.m. | INR 11,531 p.m. |
| INR 6 Lakhs | INR 19,248 p.m | INR 12,630 p.m | INR 20,390 p.m | INR 13,837 p.m. |
| INR 7 Lakhs | INR 22,456 p.m. | INR 14,736 p.m | INR 23,789 p.m | INR 16,143 p.m. |
What is the monthly EMI for a 10 lakhs SBI personal loan?
The monthly EMI for a 10 lakhs SBI personal loan will be:-
| Loan Amount | ROI 9.60% (36 Months EMI) | ROI 9.60% (60 Months EMI) | ROI 13.60% (36 Months EMI) | ROI 13.60% (60 Months EMI) |
|---|---|---|---|---|
| INR 8 Lakhs | INR 25,664 p.m. | INR 16,841 p.m. | INR 27,187 p.m | INR 18,449 p.m. |
| INR 9 Lakhs | INR 28,872 p.m | INR 18,946 p.m. | INR 30,585 p.m. | INR 20,755 p.m. |
| INR 10 Lakhs | INR 32,080 p.m. | INR 21,051 p.m. | INR 33,984 p.m | INR 23,061 p.m. |
What is the lowest EMI offered by SBI on Personal loans?
The lowest EMIs at an interest rate 9.60% and 13.60% for a tenure of 5 years on SBI Personal Loan on different loan amounts will be:-
| Interest Rate of 9.60% | Interest Rate of 13.60% |
|---|---|
| 1 Lakh Loan Amount - INR 2,105 p.m. | 1 Lakh Loan Amount - INR 2,306 p.m. |
| 3 Lakhs Loan Amount - INR 6,315 p.m. | 3 Lakhs Loan Amount - INR 6,918 p.m. |
| 5 Lakhs Loan Amount - INR 10,525 p.m. | 5 Lakhs Loan Amount - INR 11,531 p.m. |
| 7 Lakhs Loan Amount - INR 14,736 p.m. | 7 Lakhs Loan Amount - INR 16,143 p.m. |
| 9 Lakhs Loan Amount - INR 16,841 p.m. | 7 Lakhs Loan Amount - INR 18,449 p.m. |
SBI Personal Loan Interest Rate February 2023
When it comes to offering the personal loan, SBI offers the same at an attractive interest rate to one and all. The SBI offers personal loan interest rate of 9.60% - 13.60% per annum along with flexible tenures. Before applying for a loan, just check the rates offered by the bank and grab the best deal.
SBI Xpress Credit Personal Loan EMI Calculator
If you want to avail the Xpress Credit personal loan scheme of SBI but don’t know what would be the EMIs of the same, nothing to worry because we are here to help. That’s Right! With the help of using a smart and magical device, i.e. personal loan EMI Calculator, a borrower can easily know the exact EMIs he/she needs to pay to the lender so as to repay the loan. You simply need to feed the Loan Amount, Tenure and Interest Rate and the moment you enter these credentials, this online tool fetches the values for you in the least time frame.
SBI Personal Loan EMI Calculator FAQs
1. How SBI Personal loan EMI is calculated?
The SBI personal loan EMI is calculated on the basis of tenure, principal amount, and interest rate. You will just have to enter the above information in order to calculate the SBI Personal Loan EMI.
2. How can I pay SBI Loan EMI?
You can pay the SBI Personal Loan EMIs through the following methods:-
– Through SBI Net Banking
– Using YONO Mobile Application
– Making NEFT and RTGS Payments
– Auto Debit Facility
– Through Cheque
– By visiting the nearest SBI Branch
3. What is the formula to calculate Personal loan EMI?
The formula used to calculate Personal Loan EMI is:-
EMI = P x R x (1+R)^n/((1+R)^n-1)
P represents the Principal Amount.
R represents the Rate of Interest Per month.
Small “n” represents the tenure given by the bank.
4. What factor affects SBI Personal Loan EMI?
The factors that affected the SBI Personal EMI are:-
– The loan amount you are borrowing from the bank.
– Rate of Interest Charged by the bank on the loan.
– The repayment period, that is the tenure for which you have borrowed the SBI Personal Loan.
5. What is the best way to calculate EMI for an SBI Loan?
The best way to calculate the EMI for an SBI loan is through the SBI Personal Loan EMI Calculator. You will just have to enter the loan amount, interest rate, and tenure and the EMIL calculator will display the EMI for every month that you will have to pay.