EMI Calculator

SBI EMI calculator

By Anchal Katyal · Written on Oct 6, 2026 · Verified on Oct 10, 2026

We've filled in a mid-band SBI home loan rate; swap in the one on your sanction letter. SBI's public card has advertised from 7.25% p.a.

What you'll learn:

  • EMI for SBI home loans, car loans, and education loans
  • SBI's usual rate bands by loan type
  • What to check on your sanction letter
Loan type
Currency
Principal you borrow: the starting balance before interest accrues.Learn more
₹
Annual rate charged on the outstanding balance. EMI uses rate ÷ 12 each month.Learn more
%
Repayment period in months. Longer tenure lowers EMI but usually raises total interest.Learn more
mo
One-time charge as a % of the amount, usually paid upfront or cut from the payout. It does not change the EMI but adds to what you pay in total.Learn more
%
Extra payments toward principal (lump-sum or monthly). Reduce tenure usually saves more interest. Reduce EMI if you need cash-flow relief.Learn more
₹
₹
Shows what share of your monthly take-home pay goes to EMIs (FOIR). Banks usually cap all EMIs at 40% to 50% of net income.Learn more
₹
₹
Monthly EMI-
Principal-
Total interest-
Total payment-
Interest share-
EMIs use - of take-home
Payment breakup
  • Principal
  • Interest

Amortization schedule
Starting from

Yearly principal vs interest

  • Principal
  • Interest
#DateEMIPrincipalInterestBalance

Usual SBI EMI rates (indicative)

State Bank of India is India's largest housing lender. On SBI's public Home Loans Interest Rates (Current) card, home-loan pricing has been shown from 7.25% p.a. onwards (effective 1 April 2026 on the bank site). Maxgain overdraft-style and top-up products can sit above the plain term-loan band.

Beyond the floor, regular SBI term home loans run about 7.25% to 8.55% by CIBIL score. SBI's car loan card (updated 16 September 2026) shows fixed new-car rates of 8.40% to 9.35% by CIBIL score. Personal loans are priced at 2-year MCLR (8.75%) plus 1.25% to 6.25%, an effective 10.00% to 15.00%. The Student Loan Scheme is 9.40% to 9.90%, with Scholar loans for listed institutes from 6.90%.

RBI raised the repo rate to 5.50% on 7 October 2026. SBI's EBLR page still showed 7.90% on 11 October, so these are pre-hike rates and floating home and education loan rates should move up when SBI resets. This calculator uses monthly reducing-balance EMI math, which matches how SBI describes interest on its standard term loans. The lowest advertised rate is not a sanction. Paste the rate from your in-principle offer or sanction letter.

Once credit, LTV, and loan amount are applied, private-bank standard slabs often land in the mid-to-high 8%s while public-sector cards stay in the 7%s for strong scores. Car loans commonly price above housing. Unsecured personal loans sit higher still and widen sharply with credit score and employer category. Education loans depend heavily on the institute and on collateral.

Under RBI external-benchmark rules, many floating retail loans reset when the policy repo moves. Your customer rate is typically benchmark + spread, which is why two applicants at the same bank can see different EMIs on the same loan amount.

Public rate cards are not a sanction. Replace the calculator default with the Key Facts Statement or sanction letter rate, then stress +0.5% to +1% before you lock tenure.

Compare identical principal and months across banks, include documented fees in total outflow, and confirm prepayment and foreclosure language on the letter before you pay processing charges.

Usual SBI EMI rate bands

Indicative retail ranges for planning. Your sanction rate depends on credit profile, loan size, tenure, and product rules. These are not live SBI quotes.

ProductUsual rate bandNotesSBI's page
Home Loan7.25% to 8.55%Regular term loan by CIBIL score (EBLR 7.90%); Maxgain and top-up price higher. Fee: 0.35%, min ₹5,000, max ₹15,000 (salaried); up to 30 years; prepayment: no prepayment penalty.SBI site (opens in a new tab)
Car Loan8.4% to 9.35%New car, fixed, by CIBIL score (3-month MCLR 8.25%), card updated 16 Sep 2026. Fee: Flat ₹1,000 to ₹3,000 by loan size (salaried); prepayment: not published.SBI site (opens in a new tab)
Personal Loan10% to 15%2-year MCLR 8.75% + 1.25% to 6.25%; mean rate 11.54% in Q1 FY 2026-27. Fee: Up to 1.5%, min ₹1,000, max ₹15,000; up to 84 months; prepayment: not published.SBI site (opens in a new tab)
Education Loan9.4% to 9.9%Student Loan Scheme; Scholar loans for listed institutes 6.90% to 7.65%SBI site (opens in a new tab)

Each tab in the calculator above opens at a mid-band rate for that SBI product. Replace it with the rate on your offer letter.For a personal loan, use the personal loan calculator with a rate from the band above. Compare two written offers on the compare loan offers tool, or see every lender's rates for home loans, car loans, personal loans and education loans.

SBI compared with other lenders

Rates, EMI, fees and complaints side by side, with both lenders' rates filled into the compare calculator.

How SBI rates are set

SBI's public home-loan interest-rate card has listed pricing from 7.25% p.a. onwards (see the bank's Home Loans Interest Rates (Current) page for the effective date and product variants).

SBI floating home loans are commonly linked to an external benchmark with a borrower-specific spread. When the benchmark moves, EMI, tenure, or both can change under the terms in your agreement.

Published cards separate plain home loans, Maxgain, and top-up products. Do not reuse a term-loan floor when modelling an overdraft-style or top-up facility.

Personal loans on SBI's site are often expressed as a spread over the bank's 2-year MCLR, which produces a wide effective band by risk grade. Always enter the effective rate from your letter, not only the MCLR print.

Indicative bands on this page were last checked against public materials on Oct 11, 2026. Live cards and personalized offers can move the same day.

How to use this SBI EMI calculator

  1. Open the SBI home-loan / mortgage card linked in Sources and note the current starting band and any slab table for your loan amount.
  2. Enter the principal you expect to borrow (not the full property price). Down payment, stamp duty, and registration sit outside EMI unless the bank finances them into the loan.
  3. Set the annual reducing-balance rate from your SBI in-principle offer or sanction letter. If you only have the public card, start at the mid-band on this page, then stress +0.5% and +1%.
  4. Choose tenure in months (240 = 20 years). Prefer the shortest term whose stressed EMI still fits after other EMIs and living costs.
  5. Open the amortization schedule to see how early years stay interest-heavy, then try a realistic lump-sum under Prepayments.
  6. Line up a second bank quote on the compare tool with identical principal and months before you pay processing fees.

What to verify on the SBI sanction letter

  • Nominal floating rate = benchmark (often RBI policy repo) + SBI spread for your risk grade
  • Reset frequency and what happens on a rise (EMI up, tenure up, or both)
  • Processing fee, valuation, legal, and any GST on fees
  • Net disbursal if fees are deducted from the loan
  • Prepayment and foreclosure charges (floating individual home loans are often freer under RBI directions; confirm the letter)
  • Key Facts Statement figures for EMI, total payable, and annual percentage rate where disclosed

Decision tips before you borrow

  • The lowest rate SBI advertises goes to its strongest applicants. Plan with the rate on your sanction letter.
  • Compare total outflow (EMI × months + documented fees), not only the monthly installment.
  • Stress floating EMI at +0.5% and +1% before you lock a long tenure.
  • If two banks are close on rate, prefer clearer reset language and freer prepayment over a tiny day-one EMI gap.
  • Borrow less than maximum eligibility when the stressed EMI crowds your surplus.

Planning bands used on this page

Home Loan: 7.25% to 8.55%. Car Loan: 8.4% to 9.35%. Personal Loan: 10% to 15%. Education Loan: 9.4% to 9.9%. These are typical ranges for planning, not the rate SBI will offer you.

SBI complaints record

What SBI reported in the complaints disclosure RBI requires in every annual report. These are the lenders' own audited figures, not reviews. RBI's ombudsman report gives totals by bank group only, so this is the one public count per lender.

FY 2025-26SBI
Complaints received21,09,520 (-26%)
Escalated to the RBI Ombudsman24,356 (-11%)
About loans and advances26,102 (+68%)

Change is against the year before. Bigger lenders log more complaints because they have more customers, and each lender counts slightly differently. Read the trend and the ombudsman share rather than ranking banks on the raw count. Sources: SBI Annual Report 2025-26, pp. 264–265 (Schedule 18, note 18.11).

What borrowers report

Public signals only, each linked to where it comes from. App ratings rate the app, which most people use for payments and savings, so they say little about the loan unless the app is the loan's own.

LenderAppGoogle Play rating
SBIYONO SBI4.2★ from 30.7 lakh ratings

Ratings read on 11 Oct 2026.

SBI: recurring themes

  • Complaint: Slow home-loan processing: borrowers describe gaps between sanction and disbursal, and being passed between the branch and SBI's loan processing centre (RACPC). (Moneylife, ConsumerComplaints.in)

A theme is listed only when we found it in more than one independent place: consumer-court rulings, news reports or complaint forums. Forums draw people with a grievance, so read these as risks to check on your sanction letter, not as a verdict on the lender.

Key takeaways

  • Start from SBI's public card (from 7.25% p.a. onwards, still pre-hike as of 11 October 2026), then stress +0.5% to +1% because floating loans can reset.
  • A lower SBI EMI with a longer tenure is not automatically cheaper; compare total interest on the same principal and months.
  • Car and personal loan rates sit well above housing rates, so do not reuse a home-loan band when modelling those products.
  • Fees, insurance, and floating resets sit outside the basic EMI formula until your sanction letter confirms them.

Worked example: ₹ 50,00,000 at 7.75% for 20 years

EMI ≈ ₹ 41,047. Over 240 months you would pay about ₹ 98,51,382 in total, of which roughly ₹ 48,51,382 is interest if you make no prepayments and the rate stays constant. Raise the rate toward the top of the usual SBI home band (7.25% to 8.55%), or add a lump sum under Prepayments, to see how much the total interest changes. Then replace the rate with the figure on your sanction letter.

Formula: Same reducing-balance EMI formula banks use: E = P × r × (1+r)^n ÷ ((1+r)^n - 1), with r as monthly rate and n as months. Property taxes and insurance are not included in EMI unless you add them separately.

Official sources

The SBI pages we used for the rate bands and checklist above. Open them for the live rate table and its effective date; this site does not update bank rates in real time.

Figures are estimates for education and planning and may differ from your lender’s schedule due to fees, floating rates, or product rules.

Last updated on Oct 10, 2026.