How to Calculate SBI Home Loan EMI?

SBI home loan calculator

This home loan calculator helps you calculate your SBI home loan in just a few clicks. You need to enter your loan amount, interest rate, and tenure (in years).

Once click “Calculate”, you will see the monthly payment amount, interest amount, total amount, and EMI schedule.


SBI Home Loan Calculator

SBI Home Loan Calculator - Overview

Owning a home is a dream for everyone and comes true with the help of a bank like the State Bank of India (SBI) or other banks. It is one of India's largest banks and offers home loans to help individuals for buying a home.

To be eligible for a home loan, you must have a good income, such as salary income, income from property or business. Apart from income, banks also verify your age and credit score.

Once the home loan is approved, the bank will provide you the money and you will have to make monthly payments based on your loan amount. This is the amount you can calculate in this calculator.

Home Loan Calculation Formula

The home loan EMI calculation is a simple formula. The EMI is the fixed amount that you need to pay to the bank each month. EMI is the fixed monthly payment that you need to repay the principal loan amount and interest during the loan tenure.

The EMI calculation formula is mentioned below:

EMI = [P x R x (1 + R)^n] / [(1 + R)^n - 1]


  • EMI = Equated Monthly Installment
  • P = Principal Loan Amount (initial loan amount borrowed)
  • R = Monthly Interest Rate (Annual interest rate divided by 12 months and expressed as a decimal)
  • n = loan tenure in months


Suppose you want to take a home loan of ₹1,00,000 at an annual interest rate of 7.8% for a loan tenure of 20 years (240 months). To calculate EMI:

Convert Annual Interest Rate to Monthly Rate: R = (7.8% / 12 months) = 0.65

EMI = [₹100000 × 0.65% × (1 + 0.65%) ^ 240] / [(1 + 0.65%) ^ ( 240 - 1] = ₹824

This formula provides you with a fixed monthly payment to repay your home loan during the loan tenure. This calculator simplifies the process for you and provides the exact EMI amount without the need for manual calculations.

Features of the SBI Home Loan Calculator

It has several features that help you to view the home loan details such as amount, total loan amount, interest rate, and interest amount that you can pay monthly or not.

  • Calculating the Loan Amount: The main function of the calculator is to help you determine the loan amount eligible for you based on your income, expenses, and the loan policies of the bank. Because this is important to understand your borrowing capacity.
  • EMI Calculation: The calculator provides an estimate of your monthly EMI including principal and interest amounts. It also allows you to adjust the loan tenure and interest rate to see how they affect your monthly payments (EMIs).
  • Interest Rate Comparison: SBI offers various home loan products with different interest rates. The calculator lets you compare EMIs for loans at different interest rates, helping you choose the most suitable option.
  • Evaluation of loan tenure: You can check with different loan tenures to understand how they affect your monthly payments. Longer tenure reduces the EMI but increases the total interest amount, while shorter tenure increases the EMI but reduces the interest cost.

Therefore, it is a valuable tool that shows the EMI, tenure, and repayment of both principal and interest during the loan tenure. It provides a detailed explanation of how each EMI contributes to the loan repayment.

How to use the Home Loan Calculator?

Using the SBI home loan calculator is very simple:

  • Enter the home loan amount and interest rate.
  • Select tenure in months, such as 12, 15, 20, 24, 30, 36 and more.
  • Click Calculate to generate the EMI amount and other home loan details.

Benefits of Home Loan Calculator

  • Financial Planning: The calculator allows you to make informed decisions about your home loan and you can plan your finances and budget more effectively.
  • Loan Comparison: You can compare different loan options to find the most affordable and suitable option for your needs.
  • Realistic Expectations: It provides a clear picture of the monthly financial commitment required to repay the loan, helping you set realistic expectations.
  • Time-Saving: This tool simplifies the home loan calculation process error-free and saves time.


Who is eligible for the SBI home loan?

Any salaried individual and self-employed can apply for the SBI home loan.

What is the interest rate for the SBI Home loan?

The minimum interest rate for the SBI home loan is 8.00% to 10.15% per annum.

What is the maximum tenure of the SBI home loan?

The maximum tenure for the SBI home loan is 30 years.

At what percentage is the SBI home loan given?

Loan to Value Ratio (LTV): For loan amounts above ₹30 lahks and ₹75 lakh, the maximum permissible LTV ratio is 80%. Up to ₹30 lakh, the maximum permissible LTV ratio is 90% of the appraised value of the property.


SBI Home Loan Calculator is a valuable tool for everyone to calculate home loans effectively. This helps you make informed financial decisions about your home loan, ensuring that your dream of home ownership comes true. Using this tool, you can explore different scenarios, compare loan options, and plan your financial future effectively.

About Bankshala team

We are a dedicated professional team, working closely with each other to provide quality content in the banking and finance sectors. Some editors have been investing in the stock market for almost 15 years and have a lot of experience.

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