Knowing how to calculate EMI for home loan in SBI lets you know how much you must pay monthly before taking or planning your loan.
How to Calculate SBI Home Loan EMI?
SBI uses the standard EMI formula: EMI = P×R×(1+R)^N/(1+R)^N - 1
Where:
P = Principal loan amount (total amount you’re borrowing)
R = Monthly interest rate (Annual interest ÷ 12 ÷ 100)
N = Total number of monthly EMIs (tenure in months)
If SBI’s annual interest is 8%, convert it: R = 8/(12×100) = 0.006667. This is the monthly interest rate used in the EMI formula.
If your loan tenure is 20 years: N = 20 ×12 = 240. This gives total EMIs over the loan period.
Putting these values in the formula gives your monthly EMI amount. While the formula works, manual calculation is complex. Instead, you can use SBI home loan EMI calculators (e.g., online tools) by entering:
Loan amount
Interest rate
Loan tenure
and the EMI is calculated instantly.
Example: For a Rs. 50,00,000 loan at 8% p.a. for 20 years (240 months): enter these into the formula or SBI’s online calculator to get your EMI. Exact figures vary based on interest & tenure.
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How to Calculate EMI for Home Loan in SBI?
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2025-12-31T17:12:17+00:00 2025-12-31T17:12:18+00:00Comment
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