₹10 Lakh SBI Home Loan EMI Interest Rates

₹10 Lakh SBI Home Loan EMI – Interest Rates & Easy Guide

Planning for a ₹10 lakh home loan EMI SBI? Whether you’re buying a new house, constructing one, or transferring your existing loan to SBI, understanding your EMI is the first step toward smart financial planning. A ₹10 lakh SBI home loan EMI can help you budget better and make your homeownership journey smoother.

In this guide, you’ll learn how EMIs are calculated, how interest rates affect your monthly payments, and how tools like the NoBroker Home Loan Calculator make the process easier. We’ll also walk you through simple steps to apply for an SBI home loan so you can enjoy a stress-free borrowing experience.

₹10 Lakh SBI Home Loan EMI Details

Confused about the 10 lakh home loan EMI SBI? When you take a ₹10 lakh home loan, your monthly EMI depends on the interest rate and the loan tenure. The interest rate is charged on the loan amount and the accumulated interest. The table below shows the EMI for a ₹10 lakh loan at an 8.50% fixed rate for different loan tenures.

**Please note we are taking an 8.50% interest rate as that is the starting range of SBI..**

Why Choose an ₹10 Lakh SBI Home Loan EMI ?

SBI is one of the most trusted banks in India and has already helped more than 30 lakh families buy their dream homes. Whether you’re planning for an SBI 10 lakh home loan EMI or a bigger amount, SBI offers affordable and flexible options for every homebuyer. Here’s why SBI is a great choice:

• Wide Range of Loan Options: SBI offers multiple home loan schemes so you can pick one based on your needs—buying, building, renovating, or balance transferring.

• Daily Interest Calculation: Interest is calculated daily, helping you save money over time.

• Low Interest Rates: SBI provides competitive rates, keeping your EMI—like the 10 lakh home loan EMI SBI—affordable.

• Overdraft Facility: Use extra funds to reduce your interest and close your loan faster.

• Low Processing Fees: Transparent charges with no hidden costs.

• Huge Branch Network: With 24,000+ branches, SBI offers easy access and quick support.

• No Prepayment Penalty: You can repay your loan early without extra charges.

Types of Home Loans Offered by SBI

SBI offers several home loan products to meet different customer needs. Here are the main options:

• General Home Loan (purchase, construction, takeover)

• Home Loan Balance Transfer

• NRI Home Loan

• SBI Flexipay Home Loan (higher eligibility, step-up repayment)

• SBI Privilege Home Loan (for Govt/PSB/PSU employees)

• SBI Shaurya Home Loan (for defence personnel)

• Pre-Approved Home Loan

• SBI Realty Loan (plot purchase)

• Home Top-Up Loan

• YONO Insta Home Top-Up (digital)

• Home Loan for Non-Salaried Individuals

• SBI Tribal Plus Loan

SBI Home Loan Interest Rates – Updated 2025

SBI offers different interest rates for home loans. These rates depend on the type of loan and the loan amount. Here are the interest rates of different home loans:

How to Calculate ₹10 Lakh SBI Home Loan EMI?

You can quickly find the ₹10 lakh SBI home loan EMI by using this formula:

EMI= [P*R*(1+R)^N]/[ (1+R)^N-1]

Here’s what the letters mean:

• EMI: Your monthly payment
• P: The loan amount (₹10,00,000)
• R: Monthly interest rate (annual rate divided by 12)
• N: Loan tenure is months (years multiplied by 12)

Using this formula, you can find out how much you will pay every month for your ₹10 lakh SBI home loan. This will help you better plan your money.

SBI Home Loan Calculator for ₹10 lakh EMI

Use an EMI calculator to know your monthly payments for a ₹10 lakh SBI home loan EMI. You can find relatable calculators online, like the SBI Home Loan Calculator and the NoBroker Home Loan Calculator.

Here’s how to use the calculator:

• Loan Amount: Enter ₹10 lakh as the amount you want to borrow
• Interest Rate: Type in the interest rate, for example, 8.50%
• Loan Tenure: Choose how many years you want to repay the loan

The calculator will give you two important numbers. These are:

• Monthly Repayment (EMI): This is how much you need to pay every month
• Total Interest: This shows how much interest you will pay over the loan period

Eligibility Criteria for ₹10 Lakh SBI Home Loan EMI in 2025

To get a ₹10 lakh home loan, you need to meet some rules. Here’s what you need:

• Age: You must be at least 21 and not older than 60 or 65 when the loan ends.
• Income: Your income should be enough to cover the EMI. Usually, your yearly income should be 3 to 4 times the EMI amount.
• Credit Score: You need a good credit score. A score above 750 is best.
• Job Stability: You should have a stable job. Lenders like it when you have worked there for a long time.

Documents Required for a ₹10 Lakh SBI Home Loan EMI in 2024

To apply for a ₹10 lakh home loan, you need these papers:

• Proof of Identity: Show a passport, Aadhaar card, PAN card, or driver’s license.
• Proof of Address: Give utility bills or rental agreements.
• Proof of Income: Show salary slips, income tax returns, or Form 16.
• Employment Proof: Provide offer letters or employment letters.
• Bank Statements: Share recent bank statements.
• Property Documents: Give the sale agreements and title deeds if you have picked a property.
• Photographs: Bring passport-size photos.
• Loan Application Form: Fill and sign the lender’s form.
• Investment Proof (if any): Show papers for your investments.

₹10 Lakh SBI Home Loan EMI For 5 Years

Considering a SBI home loan 10 lakh EMI for 5 5-year term at an 8.50% interest rate? Here’s how to calculate sbi home loan 10 lakh emi 5 years:

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

For a 5-year term:

EMI= ₹ [10,00,000 x 0.00708 x (1 + 0.00708)^60] / [(1 + 0.00708)^60 – 1]
EMI ≈ ₹20,517

With a ₹10 lakh loan amount, your monthly EMI would be around ₹20,517 over five years. This results in a total repayment of ₹1,231,020, including ₹231,020 in interest.

₹10 Lakh SBI Home Loan EMI For 7 Years

Thinking about a ₹10 lakh home loan with a 7-year term at an 8.50% interest rate? Here’s the EMI calculation:

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

For a 7-year term:

EMI = ₹ [10,00,000 x 0.00708 x (1 + 0.00708)^84] / [(1 + 0.00708)^84 – 1]

EMI ≈ ₹15,836

For a ₹10 lakh loan amount, your monthly EMI would be about ₹15,836 over seven years. This leads to a total repayment of ₹1,330,224, including ₹330,224 in interest.

₹10 Lakh SBI Home Loan EMI For 10 Years

Planning a 10 lakh home loan emi for 10 years sbi tenure at an 8.50% interest rate? Here’s the EMI calculation:

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

For a 10-year term:

EMI = ₹ [10,00,000 x 0.00708 x (1 + 0.00708)^120] / [(1 + 0.00708)^120 – 1]

EMI ≈ ₹12,399

For a ₹10 lakh loan amount, your monthly EMI would be approximately ₹12,399 over ten years. This results in a total repayment of ₹1,487,880, including ₹487,880 in interest.

₹10 Lakh SBI Home Loan EMI For 15 Years

Considering a ₹10 lakh home loan with a 15-year term at an 8.50% interest rate? Here’s the EMI calculation:

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

For a 15-year term:
EMI = ₹ [10,00,000 x 0.00708 x (1 + 0.00708)^180] / [(1 + 0.00708)^180 – 1]

EMI ≈ ₹9,847

For a ₹10 lakh loan amount, your monthly EMI would be about ₹9,847 over 15 years. This results in a total repayment of ₹1,772,460, including ₹772,460 in interest.

₹10 Lakh SBI Home Loan EMI For 20 Years

Considering a ₹10 lakh home loan with a 20-year term at an 8.50% interest rate? Here’s the EMI calculation:

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

For a 20-year term:

EMI = ₹ [10,00,000 x 0.00708 x (1 + 0.00708)^240] / [(1 + 0.00708)^240 – 1]
EMI ≈ ₹8,678

For a ₹10 lakh loan amount, your monthly EMI would be about ₹8,678 over 20 years. This results in a total repayment of ₹2,082,720, including ₹1,082,720 in interest.

₹10 Lakh SBI Home Loan EMI For 25 Years

Planning a ₹10 lakh home loan with a 25-year term at an 8.50% interest rate? Here’s the EMI calculation:
EMI = [P x R x (1+R)^N] / [(1+R)^N – 1]

For a 25-year term:
EMI = ₹ [10,00,000 x 0.00708 x (1 + 0.00708)^300] / [(1 + 0.00708)^300 – 1]

EMI≈ ₹8,052

For a ₹10 lakh loan amount, your monthly EMI would be about ₹8,052 over 25 years. This results in a total repayment of ₹2,415,600, including ₹1,415,600 in interest.

Things to Keep in Mind While Applying for a ₹10 Lakh SBI Home Loan EMI

When applying for a SBI 10 lakh home loan EMI, you must consider some important points. These tips will help you make the right choice and manage your loan well.

• Check Your Credit Score: Make sure your credit score is good. A score above 750 helps you get better loan approval and lower interest rates.
• Know the Eligibility: Ensure you meet SBI’s eligibility criteria. This includes age, nationality, and income.
• Assess Your Repayment Capacity: Check if you can repay the loan by looking at your current finances and job stability.
• Calculate EMI: Use an EMI calculator to see what your monthly payments will be for different loan terms. This helps you choose the best plan for your budget.
• Understand Total Costs: Know how much interest you will pay over the loan period. This helps you make a smart borrowing decision.

Do’s and Don’ts for a Successful ₹10 Lakh SBI Home Loan EMI Application

These tips will help you easily get a ₹10 lakh home loan from SBI and avoid common mistakes.

How NoBroker Can Help You Get a ₹10 Lakh SBI Home Loan EMI?

Getting a home loan can be overwhelming. NoBroker Home Loan Service makes it easy for you to get an SBI home loan of ₹10 lakh without hassle. Our team helps you at every step, ensuring you get the best deal.

NoBroker compares different loan options and finds the one that suits you best. We help you understand the terms and conditions so there are no surprises later. Our experts assist you in checking your credit score, preparing the necessary documents, and filling out the application.

We know the process can be overwhelming, so we take care of the details. This includes calculating your ₹10 lakh home loan EMI with SBI to ensure it fits your budget. We also help you understand any extra costs like registration and insurance, so you are fully prepared.

With NoBroker, you get personalised support and advice, and the loan process is smooth & stress-free. Don’t let the home loan process stop you from buying your dream home. Contact NoBroker today and start your journey toward owning a home with confidence. Get started now with NoBroker and make your dream of owning a home come true!

Conclusion

Choosing an SBI home loan is a smart decision if you want affordable interest rates, flexible repayment options, and a trusted banking partner. Whether you’re planning for an SBI 10 lakh home loan EMI or a bigger loan amount, SBI offers multiple home loan products to match every need. With transparent fees, a large branch network, and customer-friendly features, SBI makes your home-buying journey smooth and stress-free. By understanding your EMI and selecting the right loan plan, you can move one step closer to owning your dream home with confidence.