Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395

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If you’re planning to apply for an SBI home loan, check how much you can afford to borrow using an SBI home loan EMI calculator. It is an online tool that you can use to calculate SBI home loan EMI in no time against different loan amounts, interest rates, and loan tenures. It will enable you to determine the right tenure and amount to improve the affordability of your EMIs. Moreover, it eliminates manual and inaccurate calculation of EMIs. On this page, we will discuss how SBI home loan EMI is calculated, how it can be paid, and more.
How to Use SBI Home Loan EMI Calculator?
Steps to use SBI home loan calculator
Step 1: Enter the desired loan amount
Step 2: Enter the applicable rate of interest
Step 3: Enter the tenure in which you would like to repay the loan
As you enter the details, the EMI amount will be displayed. Besides showing the SBI housing loan EMI, the online home loan calculator also shows the amortization schedule and total interest and loan amount payable.
How is SBI Home Loan EMI Calculated?
SBI uses the monthly reducing balance method to calculate EMI payments, wherein the interest amount is calculated on the principal outstanding at the end of each month. So, every time you pay SBI home loan EMI, a certain portion of it goes towards repaying the outstanding principal and the remaining goes for paying the interest amount. This helps in reducing the principal amount. On this reduced principal, the State Bank of India calculates interest, thereby reducing interest cost with every EMI.

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SBI Home Loan EMI Calculation
With the help of the table, let us see how home loan EMIs change with the change in tenure, loan amount, and interest rate.
Loan Amount (Rs.) | Tenure (years) | Interest Rate (p.a.) | EMI (Rs.) | Interest Payable (Rs.) |
25,00,000 | 15 | 7.00% | 22,471 | 15,44,780 |
20 | 7.50% | 20,140 | 23,33,600 | |
30 | 8.00% | 18,344 | 41,03,840 | |
50,00,000 | 15 | 7.00% | 44,941 | 30,89,454 |
20 | 7.50% | 40,279 | 46,67,118 | |
30 | 8.00% | 36,688 | 82,07,762 | |
75,00,000 | 15 | 7.00% | 67,412 | 46,34,160 |
20 | 7.50% | 60,419 | 70,00,560 | |
30 | 8.00% | 55,032 | 1,23,11,520 |
How to Pay SBI Home Loan EMI?
To pay SBI home loan EMI, you may:
- Issue post-dated cheques (PDCs)
- Issue Standing Instructions (SI) to your bank
- Opt for direct deduction of monthly installments by your employer
Charges Applicable on Non-payment of SBI Home Loan EMI
Non-payment of SBI housing loan EMI may attract a few changes such as late payment fee, penal interest, cheque dishonor charges (in case of issue in PDCs), etc. To know exactly how much the bank will charge, get in touch with your loan officer to know the details. Your loan agreement might also mention the charges that may be applicable in such cases.
FAQs
Q. Why should I calculate EMI before applying for SBI Home Loan?
A. SBI Home Loan Calculator gives an estimated value of the amount that requires to be paid towards the Home Loan. The information about this monthly pay-out when known in advance helps potential borrowers to make an informed decision about how much they can afford to shell out towards the housing loan each month. It also helps in preparing the monthly budget in advance to ensure timely payment and avoid home loan default.
Q. How can I decrease SBI home loan EMIs?
A. Some of the few practices which can help you reduce EMIs on your SBI home loan are:
- Pay maximum down payment possible. By doing so, you will borrow less, leading to lower EMIs and total interest payable
- Partly prepay your home loan. This will also reduce your home loan EMI and interest, provided the tenure remains unchanged
- A home loan balance transfer is also an option wherein you can transfer your outstanding loan amount to another lender offering a lower home loan interest rate, longer tenure, or both. A lower home loan rate will reduce your total interest payable as well as monthly payments, thus reducing the overall loan burden
Q. What will be the EMI for an SBI home loan of Rs. 30 lakh?
A. The EMI value for Rs. 30 lakh home loan will depend on two factors – loan tenure and interest rate. Once you get those values, enter them in an online SBI EMI calculator and get your home loan EMI in less than a second.
Q. Will SBI housing loan EMI change in case of prepayment?
A. SBI home loan prepayment charge is nil charges in case of floating rate home loans. When you make a prepayment, the outstanding principal amount reduces. Here, In this case, customers may choose to reduce either EMI or loan tenure. So it is up to you whether you want to change your EMI in case of prepayment.
Q. Can I repay my SBI home loan ahead of schedule?
A. Yes, you can repay your SBI housing loan ahead of schedule by making lump sum part or full prepayments, subject to the applicable prepayment charges.