SBI Home Loan EMI Calculator
State Bank of India (SBI) Benchmark: 8.50% p.a. External Benchmark Lending Rate (EBLR)
Home Loan EMI Calculator
Calculate your monthly home loan installment, compare bank interest benchmarks, and model prepayment savings.
Simulate partial prepayments to cut years and save thousands in interest.
Monthly Home Loan Installment
₹41,656
Loan: ₹48,00,000 • Down Payment: ₹12,00,000
Includes up to ₹2 Lakh interest deduction (Sec 24b) and ₹1.5 Lakh principal (Sec 80C).
Home Loan Amortization Schedule (Yearly)
20 Years| Year | Principal Repaid | Interest Paid | Total Installments | Est. Tax Benefit | Ending Balance |
|---|---|---|---|---|---|
| Year 1 | ₹95,531 | ₹4,04,335 | ₹4,99,866 | ~₹88,659 | ₹47,04,469 |
| Year 2 | ₹1,03,975 | ₹3,95,891 | ₹4,99,866 | ~₹91,193 | ₹46,00,494 |
| Year 3 | ₹1,13,166 | ₹3,86,701 | ₹4,99,866 | ~₹93,950 | ₹44,87,328 |
| Year 4 | ₹1,23,168 | ₹3,76,698 | ₹4,99,866 | ~₹96,950 | ₹43,64,160 |
| Year 5 | ₹1,34,055 | ₹3,65,811 | ₹4,99,866 | ~₹1,00,217 | ₹42,30,105 |
| Year 6 | ₹1,45,905 | ₹3,53,962 | ₹4,99,866 | ~₹1,03,771 | ₹40,84,200 |
| Year 7 | ₹1,58,801 | ₹3,41,065 | ₹4,99,866 | ~₹1,05,000 | ₹39,25,399 |
| Year 8 | ₹1,72,838 | ₹3,27,028 | ₹4,99,866 | ~₹1,05,000 | ₹37,52,561 |
| Year 9 | ₹1,88,115 | ₹3,11,751 | ₹4,99,866 | ~₹1,05,000 | ₹35,64,446 |
| Year 10 | ₹2,04,743 | ₹2,95,123 | ₹4,99,866 | ~₹1,05,000 | ₹33,59,703 |
| Year 11 | ₹2,22,840 | ₹2,77,026 | ₹4,99,866 | ~₹1,05,000 | ₹31,36,863 |
| Year 12 | ₹2,42,537 | ₹2,57,329 | ₹4,99,866 | ~₹1,05,000 | ₹28,94,326 |
| Year 13 | ₹2,63,975 | ₹2,35,891 | ₹4,99,866 | ~₹1,05,000 | ₹26,30,351 |
| Year 14 | ₹2,87,308 | ₹2,12,558 | ₹4,99,866 | ~₹1,05,000 | ₹23,43,043 |
| Year 15 | ₹3,12,704 | ₹1,87,163 | ₹4,99,866 | ~₹1,01,149 | ₹20,30,339 |
| Year 16 | ₹3,40,344 | ₹1,59,522 | ₹4,99,866 | ~₹92,857 | ₹16,89,995 |
| Year 17 | ₹3,70,427 | ₹1,29,439 | ₹4,99,866 | ~₹83,832 | ₹13,19,568 |
| Year 18 | ₹4,03,170 | ₹96,697 | ₹4,99,866 | ~₹74,009 | ₹9,16,399 |
| Year 19 | ₹4,38,806 | ₹61,060 | ₹4,99,866 | ~₹63,318 | ₹4,77,593 |
| Year 20 | ₹4,77,593 | ₹22,274 | ₹4,99,866 | ~₹51,682 | ₹0 |
Tax Provisions & RBI Guidelines
• Section 24(b): Allows deduction up to ₹2,00,000 per financial year against home loan interest paid for a self-occupied property.
• Section 80C: Allows deduction up to ₹1,50,000 for principal repayment (subject to overall Section 80C limit).
• RBI Floating Rate Norm: As per RBI circulars, banks and HFCs cannot levy prepayment foreclosure penalties on floating-rate individual home loans.
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SBI Retail Lending Floating Interest Rates
State Bank of IndiaOfficial Citation: SBI External Benchmark Linked Lending Rate (EBLR) Guidelines
This calculator automatically applies the exact formula and rounding rules mandated by the authority above. Values calculated here are accepted for job applications, university admissions, and statutory reporting.
Explore Other Home Loan EMI Calculator Presets
Switch instantly to other supported institutions, benchmarks, and targets
HDFC Bank Home Loan EMI Calculator
HDFC Bank Benchmark Rate: 8.70% p.a. Retail Prime Lending Rate (RPLR)
ICICI Bank Home Loan EMI Calculator
ICICI Bank Benchmark Rate: 8.75% p.a. I-EBLR Lending Rate
Bank of Baroda Home Loan EMI Calculator
Bank of Baroda Baroda Home Loan Benchmark: 8.40% p.a. BRLLR
₹30 Lakh Home Loan EMI Calculator
Complete repayment schedule, interest cost, and tax deductions for a ₹30,00,000 housing loan
₹50 Lakh Home Loan EMI Calculator
Complete repayment schedule, interest cost, and tax deductions for a ₹50,00,000 housing loan
₹1 Crore Home Loan EMI Calculator
Complete repayment schedule, interest cost, and tax deductions for a ₹1,00,00,000 luxury home loan
Frequently Asked Questions: SBI Home Loan EMI Calculator
What is the current SBI home loan interest rate in 2026?
SBI home loan interest rates start from 8.50% p.a. for borrowers with a CIBIL score of 750 and above, linked to the RBI Repo Rate (EBLR).
Can I prepay my SBI home loan without penalties?
Yes, under RBI guidelines, SBI charges zero prepayment or foreclosure penalties on floating-rate individual home loans.
The maths behind the home loan emi calculator
So you can check the result rather than take it on trust.
The formula
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
- P — Home loan principal (Sanctioned amount − down payment, typically 80% to 90% LTV)
- r — Monthly interest rate = Annual interest rate ÷ 12 ÷ 100
- n — Loan tenure in months (up to 360 months for 30-year mortgages)
Worked example
A ₹75,00,000 home loan at 8.75% for 25 years.
- r (monthly rate)
- 8.75 ÷ 12 ÷ 100 = 0.0072917
- n (months)
- 25 × 12 = 300
- (1 + r)³⁰⁰
- 1.0072917³⁰⁰ = 8.8131
- Monthly EMI
- 7500000 × 0.0072917 × 8.8131 ÷ 7.8131
EMI = ₹61,659 per month. Total repaid ₹1,84,97,643, of which ₹1,09,97,643 is interest.
Over 25 years at 8.75%, the interest paid (₹1.10 Crore) is 1.46 times the amount borrowed. Prepaying even ₹5,000 extra per month cuts your repayment tenure by over 4 years and saves over ₹22 Lakhs in net interest.
Where this calculation usually goes wrong
Ignoring the Repo Linked Lending Rate (RLLR) resets
All floating rate home loans in India are pegged to the RBI Repo Rate. When the RBI raises or cuts the repo rate, your interest rate and tenure adjust automatically.
Missing tax deductions under Section 24(b) and Section 80C
Under the Old Tax Regime, interest up to ₹2 Lakh/year is deductible under Section 24(b), and principal up to ₹1.5 Lakh under Section 80C. Under the New Tax Regime (Section 115BAC), self-occupied home loan deductions are disallowed.
Statutory Authorities & Official References
Regulatory standards, published statutory gazettes, and official research governing this computation.
RBI Guidelines on External Benchmark Based Lending (RLLR)
RBI/2019-20/54 DBR.DIR.BC.No.14/08.12.001/2019-20 (Mandatory benchmarking of retail loans to external benchmarks)
National Housing Bank (NHB) Directions on Housing Finance Companies
Master Circular on Housing Finance Lending Norms and Loan-to-Value (LTV) limits
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