SBI Home Loan EMI Calculator - SuGanta

Planning to take a home loan from SBI? Use our SBI Home Loan EMI Calculator to estimate your monthly repayment in seconds. Just enter your loan amount, interest rate, and tenure to get an instant breakdown of your EMI, total interest, and repayment schedule. Whether you're buying your first home or transferring your loan, this tool helps you plan your finances better.

Benefits of SBI Home Loan Calculator

• Quick & Accurate Calculations: Instantly compute your monthly EMI and total interest outgo.
• User-Friendly: Simple interface—just enter the loan amount, tenure, and rate of interest.
• Budget Planning: Helps you assess affordability and manage your monthly expenses better.
• Real-Time Results: See the effect of changing tenure or interest rate instantly.
• Financial Comparison: Compare different SBI home loan options to choose the most suitable plan.
• No Registration Required: Use the tool freely anytime—no login or personal details needed.

Home Loan EMI Calculation Formula

The EMI (Equated Monthly Installment) is calculated using the formula:

EMI = [P x R x (1+R)^N] / [(1+R)^N – 1]

Where:

• P = Principal loan amount
• R = Monthly interest rate (annual rate divided by 12 and then by 100)
• N = Loan tenure in months

Example:

For a ₹40 lakh loan at 8.25% interest for 20 years (240 months):

• P = 40,00,000
• R = 8.25 / 12 / 100 = 0.006875
• N = 240
• Plugging into the formula gives the EMI ≈ ₹34,165

For example, if any borrower avails a loan of 40 lakh for a tenure of 10 years at a 8.75% p.a. rate of interest, the applicable EMI will be –

Home Loan Amortization Schedule for SBI Bank

Here is the Home Loan Amortization Schedule for an SBI Home Loan of ₹40 lakhs, with an interest rate of 8.25% per annum and a tenure of 5 years: