All About SBI Home Loan EMI Calculator

Home Loan

SBI Home Loan EMI Calculator allows calculating EMIs for Home Loan that further helps the borrower to make a decision about buying a new house. It helps in the calculation of EMI, Interest Cost, loan tenures, and the total amount payable. It allows us to determine the optimum loan tenure and EMI as per the affordability and financial goals. It has some added features like flexible repayment options and top-up loans, low-interest rates, long repayment tenure, and reasonable EMIs.

SBI Home Loan – A Snapshot 
Interest Rate8.50% – 10.15% p.a.
Loan AmountUp to 90% of property value
Loan TenureUp to 30 years
Processing Charges0.17% (INR 2,000-Rs 5,000)

Benefits of SBI Home Loan EMI Calculator

Below mentioned are the benefits of the SBI Home Loan EMI Calculator:

· It makes an EMI more affordable by determining the right amount.

· It helps to decide the correct loan tenure so as to ensure the EMIs can be managed easily.

· It rules out the manual calculations that result in the inaccuracy of data and can be time-consuming.

· It can be used from anywhere and at any time.

Charges Applicable on Non-payment of SBI Home Loan EMI

Below-mentioned are the charges applicable in the case of non-payment of SBI housing loan EMI:

Penal Interest
(if the EMI is unpaid for 30 days from the due date, for any reason, including a bounced cheque)
@2% p.a. on the irregular amount for the period of irregularity, over and above the applicable rate
Failed / Non-Payment of EMIINR 500 + GST per EMI missed
Cheque Returns (In case of insufficient funds only)For cheques up to INR 1 LakhINR 225 + GST
For cheques above INR 1 LakhINR 350 + GST
Failed SIINR 225 + GST per failed SI

Different Modes of SBI Home Loan EMI Payment

Below-mentioned are the different modes to make payment of SBI Home Loan EMI:

· Issue post-dated cheques (PDCs)

· Issue Standing Instructions (SI) to your bank

· Opt for direct deduction of monthly installments by your employer

What is a Home Loan EMI Calculator?

SBI Home Loan EMI Calculator basically assists in the calculation of the loan installment i.e. EMI. It is an easy-to-use calculator and acts like a financial planning tool. Just enter the loan amount, interest rate, and tenure of the loan and then click on “Calculate”. It removes the scope of manual errors and tedious calculations.

The full form of EMI is Equated Monthly Installment which includes repayment of the principal amount and the interest amount of the home loan. It has a longer period of 30 years which helps in reducing the EMI. 

The formula for calculating EMI is:

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

P = Principal loan amount

R = Monthly rate of interest i.e., the percentage rate of interest divided by 12

T = Total home loan tenure in months

E = Home loan EMI

Let’s take an example. If you opt for a housing loan of INR 40 lakh at an interest rate of 6.80% p.a., and your tenure is 10 years i.e., 120 months, then your EMI can be calculated as:

EMI = 40,00,000 * 0.0056 * [(.0056 + 1)120 / (0.0056 + 1)120-1]

Now, R = (6.80/100)/12 = 0.00567

EMI = 46,032

Home & Home Related Interest Rate Charge

Below mentioned is the SBI Home Loan Interest Rate:

CIBIL ScoreRegular Home LoansCRE Home LoansTop Up LoansRealty LoanTribal PlusP-Lap 
Term LoanMax GainTerm LoanMax GainTerm LoanOverdraftTerm LoanCRE TermTerm LoanTerm Loan
NTC/ No Cibil Score/-19.35%9.75%9.55%9.85%9.75%10.05%9.65%9.85%9.45%11.10%

Campaign Rates


CARD RATES (Term Loan)(Current EBR: 9.15%)Rates during the Campaign (Term Loan)
CIBILEBR+ SpreadEffectiveCIBILEBR +SpreadEffective RateConcession over Card Rate
> = 800EBR+0 %9.15%> = 800EBR-0.45 %8.70%*45 bps
750 – 799EBR+0.10 %9.25%750 – 799EBR-0.45 %8.70%*55 bps
700 -749EBR+0.20 %9.35%700 -749EBR-0.35 %8.80%*55 bps
650 – 699EBR+0.30 %9.45%650 – 699No Change9.45%NIL
550 – 649EBR+0.50 %9.65%550 – 6499.65%
NTC/NO CIBIL/-1 EBR+0.20 % 9.35%NTC/NO CIBIL/-1 EBR-0.35 % 8.80% 55 bps


CARD RATES (Term Loan)Rates during the Campaign (Term Loan)
(Current EBR- 9.15%)
CIBILEBR + SpreadEffective RateCIBILEBR + SpreadEffective RateConcession overCard Rate
> = 800EBR+0.40 %9.55%> = 800EBR -0.05 %9.10%* 45 bps
750 – 799EBR+0.50 %9.65%750 – 799EBR + 0.05 %9.20%*
700 -749EBR+0.60 %9.75%700 -749EBR+0.15 %9.30%*
650 – 699EBR+0.70 %9.85%650 – 699 No Change9.85% NIL
550 – 649EBR+1 %10.15%550 – 64910.15%
NTC/NOEBR+0.60 %9.75%NTC/NO9.75%
*20 bps concession over the above rates to be accorded for Top Up Loans associated with Takeover loans. (For CIBIL Score of 700 and above).

SBI Home Loan Amortization Schedule

An Amortization schedule allows evaluation of different loan options. It helps to evaluate the comparison of lenders, selection of loan tenure, or making a decision to refinance the loan. Also, it helps in analyzing the savings in terms of paying off debts early. 

The EMI will remain the same throughout the loan tenure in case the home loan is taken on a fixed rate of interest. However, the principal and the interest component differs per month. The process of calculating EMIs is known as Amortization. 

Below mentioned is the Amortization Schedule for 12 months of the above-quoted example is:

YearBeginning Loan BalanceEMI*12Interest Paid YearlyPrincipal Paid YearlyOutstanding Balance