# SBI Home Loan EMI Calculator

Calculate your EMI for your SBI Home Loans and plan your new Home seamlessly via INDmoney's SBI Home Loan Calculator.
%
Yr
Monthly EMI
64,699
Principal Amount
50,00,000
Total Interest
27,63,880
Total Amount
77,63,880

## SBI Home Loan EMI : An Overview

When it comes to realizing your dream of owning a home, SBI (State Bank of India) offers a compelling solution. Our SBI Home Loans are designed to make homeownership more accessible and affordable for you.

Here's a quick overview of what you can expect:

Competitive Rates: Starting at just 9.15% p.a., our interest rates ensure affordability.

Flexible Tenure: Enjoy a comfortable repayment period of up to 30 years.

Transparent Costs: A processing fee of 0.35% (Min. Rs.2,000; Max. Rs.10,000) plus taxes, with no hidden charges.

Women-Friendly: Women borrowers get an extra 0.05% interest concession.

No Prepayment Charges: We offer flexibility with a full waiver of prepayment charges

SBI Home Loans have gained recognition as one of the most preferred housing loan products in the country, thanks to our competitive rates, flexible terms, and borrower-friendly policies. We are here to help you turn your dream of owning a home into a reality.

## SBI Home loan EMI Calculator Formula

Calculating your SBI home loan EMI is straightforward using a standardized formula:

E = P * r * (1 + r)^n / ((1 + r)^n - 1)

Here's what each variable represents:

E: EMI (Equated Monthly Installment)

P: Principal amount

r: Applicable rate of interest

n: Number of EMIs

For instance, if you opt for a ₹80 lakh loan with a 10% interest rate for a 20-year tenure, your EMI can be calculated as follows:

E = 80,00,000* 10* (1 + 10)^240 / ((1 + 10)^240 - 1)

This computation results in an EMI of approximately ₹ 77,202.

INDMoney's HDFC Home Loan EMI Calculator does this calculation for you in a jiffy and lets you know the exact EMIs saving you from this tedious calculation.

It's important to note that for home loans with a fixed interest rate, the EMI remains constant throughout the loan tenure. However, for home loans with a floating interest rate, you may need to use the SBI housing loan EMI calculator each time the interest rate changes.

## How does an HDFC Home Loan EMI calculator help?

HDFC Home Loan EMI calculators is curated to help you calculate EMI's on your HDFC Home Loans seamlessly:

They offer several advantages, such as:

Accuracy: Avoid errors in manual calculations.

Time-Saving: Instantly calculate EMIs, saving you time.

Budget Planning: Determine if the loan fits your budget.

Comparison: Compare EMIs from different lenders.

Amortization Schedule: Understand the loan repayment schedule.

This calculator empowers you to make informed decisions, helping you to select loan terms that align with your New Home buying.

## Benefits of Using IND Money’s SBI Home loan Calculator

• Effortless Planning: Our online home loan EMI calculator simplifies housing finance planning. It provides crucial details like monthly installment (EMI), net interest payable, and the total amount due.
• Time-Saving: Say goodbye to manual calculations. With a few simple inputs, our calculator delivers instant results, saving you valuable time and effort.
• Latest HDFC Interest Rates : IND Money’s SBI home loan calculator calculates the EMI based on the latest SBI Home Loan Interest Rates.
• Optimal Loan Tenure: Determine the ideal loan tenure based on your repayment capacity. Easily assess your ability to repay by considering your monthly income, expenses, and savings.

## SBI Home Loan Interest Rate

State Bank of India offers home loans at attractive rates starting from 9.15% p.a., with a flexible repayment period of up to 30 years.

The processing fee is just 0.35% of the loan amount (Min. Rs. 2,000; Max. Rs. 10,000) plus taxes. Women borrowers enjoy a special 0.05% interest concession on SBI Home Loans.

No hidden fees and zero prepayment charges make SBI Home Loans a top choice for housing financing in India.

• ### How to Calculate EMI for SBI Home Loan?

You will be informed if you have cleared the eligibility criteria for SBI home loans through the in-principle sanction that will be provided through the bank’s official website during your application process or through the bank’s official mobile application.

• ### Are NRIs eligible for SBI home loans?

Yes, State Bank of India provides home loans for NRIs.

• ### What are the eligibility criteria for SBI's balance transfer of home loan or top-up loan?

The eligibility criteria for SBI’s balance transfer of home loans or top-up loans are the same as that of regular loans – the applicant should be an Indian citizen/NRI and be between 18 and 70 years of age.

• ### How does SBI decide my home loan eligibility?

SBI decides your home loan eligibility based on your age, income or salary, credit score, etc.

• ### How can I increase my chances of being eligible for SBI's home loan?

You can increase your chances of being approved for a State Bank of India home loan by adding a co-applicant who has a regular source of income, has a good credit score, and fits the age and Indian citizenship criteria as well.

• ### How will I know if my eligibility criteria have been met for SBI home loans?

You will be informed if you have cleared the eligibility criteria for SBI home loans through the in-principle sanction that will be provided through the bank’s official website during your application process or through the bank’s official mobile application.