A complete guide to SBI Home Loan EMI Calculator

A home loan EMI consists of both the payment of interest &repayment of the principal. The EMI amount remains a constant but each month the proportion of the interest payment and repaid principal under each EMI varies.


How to choose the best Home Loan Scheme?


  • EMI can differ according to loan tenure at 15, 20 to 30 years. Your EMI is higher when the loan taken is planned for a shorter tenure like 15 years. Your EMI is lower when you choose a higher tenure like 30 years.
  • The total interest paid is much higher in a long tenure loan. Therefore, it is advisable to choose the tenure of your loan wisely because a longer tenure also means high expenses towards interest.
  • The one factor to give importance to while choosing a home loan is the rate of interest. It is the rate at which interest is charged on the home loan amount. Every financial institution charges a certain percentage of interest on the lent amount.
  • To convert the annual rate into a monthly rate, one will need to divide the annual interest rate by the number of months in a year, i.e. 12. For example, if a person is being charged interest at a rate of 12% per annum, then the monthly rate of interest on his home loan will be 1% per month. Use the SBI Home Loan Interest Rate Calculator to know what suits you best

Some other features you should keep in mind while choosing a Home Loan EMI plan for yourself are:

  • Both salaried & self-employed individuals can avail the loan
  • Special rates available for women
  • Borrowers must be within the age group of 18 to 70 years.
  • Loan to Value Ratio is 90%.
  • Tenure can range from 5 to 30 years.
  • Rates of Interest are in the range of 8.45% to 8.85%.
  • Lowest EMI can be Rs. 765 per lakh
  • Use an SBI Home Loan Eligibility Calculator to know if you are eligible for any special schemes. You can also easily use the interest rate calculators available online for calculating your monthly home loan interest rates. This Interest rate calculator is a popular online tool that lets you know the interest rate per month when you input the annual home loan interest rate.

SBI Bank Home Loan Calculator

You can use the SBI Home Loan Calculator to get an accurate home loan repayment schedule with an estimate of your EMI to assist you to evaluate the loan amount, interest rate and tenure you should opt for.

The formula used by SBI Home Loan EMI calculator:

EMI= P*r* (1+r)^n/([(1+r)^n]-1)

In the above formula,

  • P = Principal, which is the amount that is borrowed as a loan
  • R = Rate of Interest that is levied on the home loan amount. Please notice that interest rate should be input as a monthly rate.
  • N = Tenure of repayment of the loan or the number of monthly instalments that you will pay (tenure should be in months)

Importance of the SBI Home Loan EMI Calculator

EMI calculation is a very complex & tedious as a manual process. It can be exhausting and time-consuming, not to mention cumbersome. Hence, it is advised to calculate home loan EMI with the SBI Home Loan EMI Calculator. You should calculate home loan EMI of different plans prior to taking a home loan in order to know what suits your needs the best. There are several other benefits of calculating your SBI home loan EMI as discussed below –

  • If the EMI resulted is more than the monthly budget you have the chance to apply for a lower loan amount fitting your monthly budget making the EMI easily affordable
  • Plan your spends accordingly if you already know the EMI you need to pay
  • You can also opt for doing a prepayment of your loan in future based on the EMI amount


  1. What are the options for the rate of interest?
    SBI Home loan rates can be either flexible or fixed. In the former, the rate does not remain fixed while the interest rate is fixed for the loan’s entire tenure in the latter.
  1. What are the other costs involved in taking a home loan?
    While applying for a home loan, it is crucial to check all the other charges like MODT charges, processing fee, loan conversion charge, legal verification charge, etc.
  1. What is the lowest possible SBI Home loan EMI?
    Lowest SBI Home loan EMI can be Rs. 765 per lakh.
  1. Can I use the SBI Home Loan EMI Calculator to find the best bank to get a loan from?

SBI Home Loan EMI Calculator is very useful and easy to compare the EMIs of various plans. This helps you make a smart decision about which scheme to go for!

  1. SBI Home Loan Calculator or Excel Calculator?

SBI Home Loan calculator is tailored as it solely caters to the need of calculating EMIs, so why to take so much tedious work.

  1. Will the SBI Home Loan EMI calculated by the bank differ from the one calculated by the SBI EMI Calculator?

No! It will be exactly the same, provided you enter the same value everywhere.

  1. Will the SBI home loan EMI remain constant or change in future? What happens in case of an increase or decrease in the interest rate?

Usually, the home loan EMI remains the same unless the customer has requested for a change and it is then approved by SBI subject to various factors.

  1. What are the factors influencing SBI Home Loan Interest Rates?
  • Inflation Trends & Conditions
  • Policy Changes by the Reserve Bank of India
  • Macroeconomic conditions in the country
  1. Are there special customised schemes available for SBI Home Loan?
    SBI does offer various customised home loan interest rates & schemes for special categories of borrowers that includes NRIs, women, senior citizens, etc.
  1. Will SBI home loan EMI change in case of a prepayment?

In case of floating rate home loans SBI allows prepayment at nil charges.