SBI Home Loan EMI Calculator
An SBI home loan EMI is the fixed monthly payment that goes towards repaying the housing loan you take from State Bank of India — India's largest public-sector lender and one of the biggest home loan providers in the country. Because home loans run for two decades or more, even a small change in the interest rate or tenure can shift your EMI and your total interest by a lot. Use this SBI home loan EMI calculator to test different amounts, rates and tenures so you can see the full cost of the loan before you apply.
- Principal
- ₹50,00,000
- Total Interest
- ₹54,13,879
- Total Payment
- ₹1,04,13,879
Monthly EMI
₹43,391
- Principal48%
- Interest52%
Formula
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]
- P
- Principal — the home loan amount sanctioned, after your down payment.
- r
- Monthly interest rate = annual rate ÷ 12 ÷ 100.
- n
- Loan tenure in months (years × 12).
SBI home loans are typically floating-rate, usually linked to an external benchmark such as the repo rate. That means your EMI or tenure can change when the benchmark moves, so treat this calculation as a snapshot at the rate you enter rather than a fixed figure for the whole term.
Worked example
Suppose you take an SBI home loan of ₹50,00,000 at an indicative 8.5% per annum for a tenure of 20 years (240 months).
- Loan Amount (P)
- ₹50,00,000
- Annual Interest Rate
- 8.5% (indicative)
- Tenure
- 20 years (240 months)
The monthly EMI comes to about ₹43,391. Across the full 20 years you'd repay roughly ₹1,04,13,879 in total — meaning around ₹54,13,879 is interest on top of the ₹50,00,000 borrowed. On a long home loan the interest can rival the principal itself, which is why the tenure choice matters so much.
Year-by-year repayment breakdown
Based on the default SBI Home Loan EMI Calculator values above — the loan amount, interest rate and tenure shown in the calculator. Adjust the sliders to recalculate your own figures.
- Monthly EMI
- ₹43,391
- Total interest
- ₹54,13,879
- Total payment
- ₹1,04,13,879
- Interest / principal
- 108%
In the first year, about 81% of what you pay goes towards interest rather than reducing the balance. From year 13 onwards, more of each year's payments goes to principal than to interest.
| Year | Principal paid | Interest paid | Total paid | Balance |
|---|---|---|---|---|
| 1 | ₹99,509 | ₹4,21,183 | ₹5,20,692 | ₹49 Lakh |
| 2 | ₹1,08,306 | ₹4,12,387 | ₹5,20,693 | ₹47.92 Lakh |
| 3 | ₹1,17,878 | ₹4,02,814 | ₹5,20,692 | ₹46.74 Lakh |
| 4 | ₹1,28,298 | ₹3,92,394 | ₹5,20,692 | ₹45.46 Lakh |
| 5 | ₹1,39,638 | ₹3,81,054 | ₹5,20,692 | ₹44.06 Lakh |
| 6 | ₹1,51,981 | ₹3,68,711 | ₹5,20,692 | ₹42.54 Lakh |
| 7 | ₹1,65,414 | ₹3,55,277 | ₹5,20,691 | ₹40.89 Lakh |
| 8 | ₹1,80,036 | ₹3,40,656 | ₹5,20,692 | ₹39.09 Lakh |
| 9 | ₹1,95,949 | ₹3,24,743 | ₹5,20,692 | ₹37.13 Lakh |
| 10 | ₹2,13,269 | ₹3,07,423 | ₹5,20,692 | ₹35 Lakh |
| 11 | ₹2,32,121 | ₹2,88,572 | ₹5,20,693 | ₹32.68 Lakh |
| 12 | ₹2,52,638 | ₹2,68,054 | ₹5,20,692 | ₹30.15 Lakh |
| 13 | ₹2,74,968 | ₹2,45,723 | ₹5,20,691 | ₹27.40 Lakh |
| 14 | ₹2,99,274 | ₹2,21,419 | ₹5,20,693 | ₹24.41 Lakh |
| 15 | ₹3,25,726 | ₹1,94,966 | ₹5,20,692 | ₹21.15 Lakh |
| 16 | ₹3,54,518 | ₹1,66,174 | ₹5,20,692 | ₹17.60 Lakh |
| 17 | ₹3,85,853 | ₹1,34,838 | ₹5,20,691 | ₹13.75 Lakh |
| 18 | ₹4,19,960 | ₹1,00,732 | ₹5,20,692 | ₹9.55 Lakh |
| 19 | ₹4,57,081 | ₹63,612 | ₹5,20,693 | ₹4.98 Lakh |
| 20 | ₹4,97,583 | ₹23,210 | ₹5,20,793 | ₹0 |
How the SBI home loan EMI calculator works
This calculator uses the reducing-balance method that SBI applies to housing loans. Set your loan amount, interest rate and tenure, and it recomputes the EMI instantly while the chart shows the split between principal and interest. In the early years of a long home loan, the bulk of each EMI is interest — only later does the principal portion take over — which is why the total interest on a 20-year loan can be so large.
Why the rate and tenure matter so much
Because home loans are large and long, they are the most sensitive of all loans to small changes. Shaving even half a percentage point off the rate, or trimming a few years off the tenure, can save lakhs over the life of the loan. Since SBI home loans are usually floating, it’s worth re-running this calculation each time your benchmark rate is revised so you know whether your EMI or tenure has shifted.
Tips for an SBI home loan
- Aim for the shortest tenure your budget can comfortably absorb to cut total interest.
- Use part-prepayments when you have surplus funds — floating-rate home loans to individuals generally carry no prepayment penalty.
- Track your floating rate after each benchmark change and reassess the EMI.
- Budget for extras such as processing fees, stamp duty and insurance, which sit outside the EMI.
- Confirm the live rate and current tax rules with SBI and a tax adviser before relying on any figure here.
Frequently asked questions
Is an SBI home loan fixed-rate or floating-rate?
SBI home loans are usually floating-rate, commonly linked to an external benchmark like the RBI repo rate plus a spread. When the benchmark changes, your bank typically adjusts either your EMI or your tenure. This calculator shows the EMI at one fixed rate, so recheck it whenever your rate is revised.
How much does the tenure affect my home loan interest?
A great deal. Stretching a home loan from, say, 15 to 25 years lowers the monthly EMI but can add a very large amount in total interest, because the principal stays outstanding far longer. Use the tenure slider here to compare the EMI against the total interest for each option.
Are there tax benefits on an SBI home loan?
Home loan borrowers in India may be able to claim deductions on the interest and principal repaid under the Income Tax Act, subject to the conditions and limits that apply in a given year and the tax regime you choose. The specifics change over time, so confirm current rules with a qualified tax adviser — this calculator does not provide tax advice.
Will a bigger down payment lower my SBI home loan EMI?
Yes. The loan amount is the property cost minus your down payment, so a larger down payment means a smaller principal, a lower EMI and less total interest. Lenders also typically fund only a portion of the property value, so some down payment is required regardless.
Is the 8.5% rate the actual rate SBI will give me?
No — it is indicative, for illustration only. Your real home loan rate depends on the prevailing benchmark, your credit score, income, loan amount and the scheme you choose. Always confirm the current rate on SBI's official website or at a branch before you plan around it.