SBI Home Loan EMI Calculator

The SBI home loan EMI calculator works in the following manner:

SBI home loan EMI depends on the following factors:

SBI offers home loans at floating interest rates. Floating rates are variable in nature and change with the change in the repo rate set by the RBI. Hence, every time the RBI resets its repo rate, SBI adjusts its home loan interest rate. If the interest rate increases, the EMI also increases, and vice-versa.

Fixed rates are not variable and hence, remain the same throughout the loan tenure. Therefore, the EMI remains the same throughout the loan tenure, provided the borrower makes part payment or opts for switching the home loan either to a lower rate or to a floating rate.

Compare how changes in the loan tenure, loan amount, or interest rate affect your monthly EMI and total repayment. The following examples use a 7.25% p.a. interest rate unless specified.

You can also use our Home Loan EMI Calculator to calculate your EMI, total interest and total repayment for different loan amounts and tenures.

10 Years vs 20 Years

Here's how the home loan tenure affects your monthly EMI and total repayment. The loan amount remains ₹1 crore and the interest rate is 7.25% p.a.

A longer tenure reduces the monthly EMI but increases the total interest payable. If affordable, a shorter tenure can help reduce the overall interest cost.

₹50 Lakh vs ₹1 Crore

The interest rate of 7.25% p.a. and tenure of 20 years remain the same, while the loan amount changes.

When the loan amount is doubled, the EMI, total interest and total repayment also increase proportionately. Borrow only the amount you need and can comfortably repay.

7.25% vs 8% Interest Rate

The loan amount of ₹50 lakh and tenure of 20 years remain the same, while the interest rate changes.

A higher interest rate increases both the monthly EMI and the total interest payable over the loan tenure. Compare home loan offers and applicable interest rates before choosing a lender.

EMI is the total amount paid monthly towards the principal and interest payment, whereas total interest cost is the total amount paid as interest over the entire loan tenure. Let us see the difference between home loan EMI and interest cost under the following scenarios:

Whenever you have surplus, you can pay a lump sum amount towards your outstanding loan amount even before the loan maturity. This amount reduces your principal and eventually your EMI and interest cost.

However, the lender provides two options to the borrower during part-payment-

If the borrower opts for EMI reduction, the tenure remains the same, but the EMI keeps reducing with every part payment. However, if the borrower opts for a reduction in tenure, the EMI remains the same, but the tenure decreases.