Use SBI Home Loan EMI Calculator to calculate SBI home loan EMI online. Lowest EMI Rs. 783 per lakh ✪ Eligibility Calculation, Criteria, loan amount ✪ Apply Online in 3 simple steps.
|Loan Amount||Interest Rates||EMI Per Month for 1 lakh|
|For Women||8.70%||Rs.783 for 30 Years|
|For Others||8.75%||Rs.787 for 30 Years|
Table of Contents
SBI Home Loan EMI Calculator
SBI home loan calculator is a tool which helps you to know how much amount you have to pay per month in the form of EMI to bank. EMI depends on three factors:
- Loan Amount
- Interest Rates
- Repayment Period / Time Taken for repay the loan amount.
If you choose the longer period for repay the loan it means you have to pay much higher interest amount to bank. In this case you can do one thing, you can prepay or part pay the amount on regular interval to bank. Assume you have some cash which is with you what you don’t have a need so you can part pay that cash to bank under your loan account, it helps you to complete the repayment in lesser time and also reduced the interest amount in loan.
As per our above calculation if you take a loan amount of below 75 lakhs you have to pay around Rs.776 per lakh, it means if you apply for loan amount of 23 lakhs than your EMI for 30 years are Rs.17848 per month.
For making our users experience better we can show some pre-calculated example below:
Repayment Period / Time
EMI Per Month
|10 Lakh||8.75%||30 Years||7,867|
|11 Lakh||8.75%||30 Years||8,654|
|12 Lakh||8.75%||30 Years||9,440|
|13 Lakh||8.75%||30 Years||10,227|
|14 Lakh||8.75%||30 Years||11,014|
|15 Lakh||8.75%||30 Years||11,801|
|16 Lakh||8.75%||30 Years||12,587|
|17 Lakh||8.75%||30 Years||13,374|
|18 Lakh||8.75%||30 Years||14,162|
|19 Lakh||8.75%||30 Years||14,947|
|20 Lakh||8.75%||30 Years||15,734|
|21 Lakh||8.75%||30 Years||16,521|
|22 Lakh||8.75%||30 Years||17,307|
|23 Lakh||8.75%||30 Years||18,094|
|24 Lakh||8.75%||30 Years||18,881|
|25 Lakh||8.75%||30 Years||19,668|
|26 Lakh||8.75%||30 Years||20,454|
|27 Lakh||8.75%||30 Years||21,241|
|28 lakh||8.75%||30 Years||22,028|
|29 Lakh||8.75%||30 Years||22,814|
|30 Lakh||8.75%||30 Years||23,601|
How SBI Home Loan Calculator Helps You in Saving your Hard Earned Money?
Look, you choose the loan amount with higher repayment period, but are you sure you choose the right scheme for you, don’t know so let’s have a look at it:
|Total Amount Paid in Full Tenure|
EMI for 15 Years
|Rs. 14,992||Rs. 26,98,511|
EMI for 20 Years
|Rs. 13,256||Rs. 31,81,358|
EMI for 25 Years
|Rs. 12,332||Rs. 36,99,645|
EMI for 30 Years
|Rs. 11,801||Rs. 42,48,183|
If you choose 20 years Repayment plan in comparison to 30 years plan than you can save approx. 10 lakh by just paying approx. 1500 extra EMI per month.
Get Details on – SBI Home Loan Interest Rates
SBI Home Loan Eligibility Calculator
SBI home loan eligibility is calculated on your monthly net income / salary, for example if you have a monthly income of Rs.25000/-, than sbi calculate your eligibility on half of your salary or 60%. It may very from bank to bank. It means your monthly paying capacity for loan will be Rs.12500/- (25000 per month income / divided by 2).
Now bank check other factors:
- Pending loan amount
- Running loans / EMI’s
- Insurance policy premiums
- Other liabilities like Children Tuition Fees, ELSS etc.
If you have any of these bank will decrease your loan eligibility further. for example you have to pay every month 3500 personal loan emi & 700 insurance premium, than bank will calculate your eligibility
Income per month (25000) / 2 = 12500 – (3500 personal loan emi) – 700 Insurance premium = 8300/-.