🏦 SBI EMI Calculator
Calculate your monthly SBI loan EMI instantly. Covers home loan, car loan, personal loan and more — with prepayment simulator and affordability checker. Free, private, no signup.
Loan details carried from the EMI Calculator tab. Enter your one-time prepayment below.
| Metric | Without Prepayment | With Prepayment |
|---|---|---|
| Adjust the sliders above to see prepayment savings. | ||
| Metric | Loan A | Loan B | Difference | Better |
|---|---|---|---|---|
| Enter both loan details above to compare. | ||||
How to Use This SBI EMI Calculator
This SBI EMI calculator lets you estimate monthly instalments for any State Bank of India loan in seconds. Click a loan type preset — Home Loan, Car Loan, Personal Loan, Education Loan or Two-Wheeler — and the current SBI rate fills in automatically. Adjust the loan amount and tenure to see how your monthly EMI, total interest and total payable change in real time. This SBI EMI calculator covers every common SBI retail loan product in one place.
Four tabs handle every planning scenario. The EMI Calculator tab shows the month-by-month amortisation. The Prepayment tab reveals how a lump-sum payment reduces your outstanding balance and shortens the tenure. The Affordability tab computes the maximum loan your salary supports at the 40% FOIR standard used by SBI underwriters. The Compare tab lets you place two loan offers side by side — for example, SBI's car loan rate against SBI's personal loan rate for the same amount.
SBI EMI Calculator Formula
Every SBI EMI calculator applies the standard banking formula: EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ – 1], where P is the principal, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of months. At SBI's car loan rate of 8.75% over 5 years, a ₹5 lakh loan yields a monthly EMI of approximately ₹10,315 with total interest of ₹1,18,900. All four tabs in this SBI EMI calculator use the same formula — results update live with every slider change.
SBI Loan Interest Rates in 2026
SBI offers some of the most competitive rates in the Indian banking market. The presets in this SBI EMI calculator reflect current starting rates for eligible salaried borrowers:
| SBI Loan Type | Starting Rate (p.a.) | Max Tenure | Max Amount |
|---|---|---|---|
| Home Loan (SBI MaxGain) | 8.50% | 30 years | ₹5 Crore+ |
| Car Loan (SBI Car Loan) | 8.75% | 7 years | ₹1 Crore |
| Personal Loan (Xpress Credit) | 11.05% | 6 years | ₹20 Lakh |
| Education Loan (Scholar Loan) | 8.15% | 15 years | ₹1.5 Crore |
| Two-Wheeler Loan | 10.25% | 5 years | ₹3 Lakh |
SBI home and car loan rates are linked to the external benchmark (EBLR) and may change quarterly. Personal loan rates are fixed at disbursement. Always confirm the current rate with your SBI branch before using results from this SBI EMI calculator for financial decisions.
Factors That Affect Your SBI Loan EMI
Three variables directly determine the result shown in this SBI EMI calculator:
- Loan amount — a higher principal increases both the monthly instalment and the total interest paid. SBI typically finances 80–90% of the asset value for home and car loans.
- Interest rate — your CIBIL score is the primary driver. Scores above 750 generally unlock the lowest SBI rates; scores below 650 may result in higher rates or rejection.
- Tenure — a longer tenure reduces your monthly EMI but significantly increases total interest. Always try the shortest tenure your budget allows.
SBI Special Loan Schemes Worth Knowing
SBI offers several structured products that go beyond standard EMI formats. The SBI MaxGain home loan links your account to an overdraft facility — any surplus funds parked there reduce the effective interest calculated daily, without a formal prepayment request. The SBI Flexipay home loan allows lower EMIs in the early years with step-up payments as income grows. For personal loans, the SBI Xpress Credit scheme delivers pre-approved disbursals within minutes for existing salary account holders. Try different amounts and tenures in this SBI EMI calculator alongside these scheme details to find the product that best fits your repayment capacity.
SBI Loan EMI for Different Amounts
The table below shows indicative monthly EMIs from this SBI EMI calculator at the car loan rate of 8.75% for a 5-year tenure:
| Loan Amount | Monthly EMI | Total Interest |
|---|---|---|
| ₹1,00,000 | ₹2,063 | ₹23,780 |
| ₹3,00,000 | ₹6,189 | ₹71,340 |
| ₹5,00,000 | ₹10,315 | ₹1,18,900 |
| ₹10,00,000 | ₹20,630 | ₹2,37,800 |
Use the Prepayment tab to model how a lump-sum payment reduces your outstanding SBI loan balance. This free SBI EMI calculator is not affiliated with State Bank of India; it uses publicly available rate information for educational purposes.
Frequently Asked Questions
What is the EMI for a ₹5 lakh SBI personal loan?
At SBI's personal loan rate of 11.05% for a 5-year tenure, the monthly EMI on a ₹5 lakh loan is approximately ₹10,867. Total interest payable is around ₹1,52,020. Select the "Personal Loan 11.05%" preset in this SBI EMI calculator for your exact figure based on your preferred amount and tenure.
How does this SBI EMI calculator work?
This SBI EMI calculator uses the standard formula EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ – 1]. Click a loan type preset to auto-fill the current SBI rate, then enter the loan amount and tenure. Results update instantly in your browser — no data is sent to any server.
What is SBI home loan interest rate in 2026?
SBI home loan interest rates start at 8.50% p.a. for salaried borrowers with a CIBIL score above 750. Rates are linked to the external benchmark lending rate (EBLR) and can change quarterly. Use the Home Loan 8.50% preset in this SBI EMI calculator for an instant estimate.
What documents does SBI require for a loan?
SBI typically requires: identity proof (Aadhaar, PAN), address proof, last 3 months' salary slips or 2 years' ITR for self-employed applicants, 6 months' bank statements and property documents for home loans. Requirements vary by loan type, amount and applicant profile. Confirm with your branch before applying.
Can I prepay my SBI loan without penalty?
For floating-rate loans (including SBI home loans), RBI guidelines prohibit prepayment penalties on individual borrowers. For fixed-rate personal and car loans, SBI may charge a foreclosure fee of up to 3% on the outstanding principal. Use the Prepayment tab in this SBI EMI calculator to estimate your savings before making a lump-sum payment.
Is this SBI EMI calculator free to use?
Yes, completely free. All four tabs — EMI calculator, Prepayment, Affordability and Compare — are free with no signup required. This tool is not affiliated with or endorsed by State Bank of India; it uses publicly available rate information for educational purposes only.