State Bank of India Home Loan

Equated monthly instalment (EMI) is a fixed amount you pay to the bank, against a loan taken. For instance, you take an SBI home loan. Now, as repayment towards the loan, every month, you need to pay an instalment amount to the bank, on a fixed date. The State Bank of India offers housing loans up to 30 years tenure, wherein the EMI can be as low as Rs. 787 per Rs. 1 lakh. The lowest SBI home loan interest rate is 8.75%.

On, you will find all information about SBI EMI calculator, its features, factors affecting EMI, formula to calculate EMI, benefits of the EMI calculator, and how to use the calculator for free on our website.

SBI Home Loan Details

Below given is the housing loan information by State Bank of India.

Purpose of the Loan

To purchase, renovate, construct a house

Loan Amount

Rs. 15 lakhs to Rs. 10 crore

Loan Tenure

5 years to 30 years

Interest Rate

8.75% to 9.50%

Lowest EMI for Rs. 1 Lakh

Rs. 787

Age Limit

18 year to 70 years


Mortgage of the concerned property

Processing Fees

0.50% of the loan amount

Features of Home Loan EMI Calculator SBI

  • To calculate the instalment amount, you must know the rate of interest, loan tenure, and loan amount.
  • The EMI consists of both principal and interest payment.
  • EMI amount will remain constant. However, each month, the principal repaid and interest payment proportion will be different in every EMI.
  • As you repay the loan with interest, the proportion of principal repayment will increase, and interest component will reduce.
  • EMI is higher if you take the loan for shorter tenure. The amount of instalment every month is lower if you choose a longer tenure.

Formula for EMI Calculator Home Loan

Here is how you can calculate the EMI for home loan SBI.

Formula: P*r* (1+r) ^n/ ([(1+r) ^n]-1)

In above formula:

P = It denotes the loan amount. The loan amount is between Rs. 15 Lakh to Rs. 10 Crore.

r = It is the interest rate per month. The lowest rate by SBI on housing loan is 8.75%. It is linked to the bank’s 1 Year MCLR (8.55%).

n = It depicts tenure in months. Tenure for SBI can extend to 360 months.

SBI EMI Calculator by Loanbaba

The home loan EMI calculator SBI on our website is available free-of-cost. You can use it to know the total interest payable and the total payment (interest principal) up to the loan’s tenure, along with instalment to be paid every month.

Here is how you can use the SBI home loan calculator.

  • Enter the loan amount.
  • Enter the rate of interest
  • Enter the loan tenure (years)
  • Click 'Calculate EMI'
SBI Home Loan EMI Calculator

Illustration of EMI Calculator SBI

Here we have illustrated the EMI on SBI home loan of Rs. 1 lakh @8.75% across different tenures.


5 years

10 years

15 years

30 years

Rs. 1 lakh at 8.75%:

Rs. 2,064

Rs. 1,253

Rs. 999

Rs. 787

Total amount to repay (principal + interest):

Rs. 1.24 Lakh

Rs. 1.50 Lakh

Rs. 1.80 Lakh

Rs. 2.83 Lakh

Interest to pay over the tenure:

Rs. 23,840

Rs. 50,360

Rs. 79,820

Rs. 1.83 Lakh

The above illustration reflects the EMI over tenure of 5 years, 10 years, 15 years, and 30 years. It is evident that on a longer tenure, the interest payout is more against that on a shorter tenure. You should choose tenure that you are comfortable with, keeping in mind the total payout every month.

Factors Affecting State Bank Home Loan EMI

Things the SBI EMI calculator takes into account.

  • Loan Amount: If you apply for a higher loan amount, then the EMI will also be high. You can apply for an amount between Rs. 15 lakhs and Rs. 10 crores.
  • Loan Tenure: The loan tenure approved will depend on your repayment capacity, age, loan amount, credit score, and rate of interest. The maximum tenure offered by the bank is 30 years.
  • Rate of Interest: Higher interest rates mean increase in the total cost of the loan and higher housing loan EMI. The current rate of interest by SBI on a home loan is 8.75%.

Tips to Decide the Right EMI Amount

Your monthly instalment towards repayment of a housing loan must suit your pockets. Remember that delaying or missing payments will affect your credit score. Thus, it is important to understand your loan requirements and calculate the EMI amount, to know the ideal tenure for the loan.

  • Estimate the amount you need to borrow.
  • Understand the SBI home loan eligibility and analyze if you fulfil the bank’s criteria.
  • Evaluate your financial position.
  • Note your monthly expenses, liabilities, and other financial obligations, including ongoing EMIs.
  • Use the Loanbaba EMI calculator on this page to understand the suitable tenure and EMI amount.

Disclaimer: All the details on this page is for purely informational purpose. Any change in SBI home loan rate, EMI amount, or other details must be confirmed on the official website of the State Bank of India.