What is SBI Home Loan EMI Calculator? Benefits & Eligibility

Home Loan EMI Calculator

A home loan is a big investment, making it mandatory for you to have a complete understanding of how, when, and how much you will pay as repayments. Using the SBI Home Loan EMI Calculator, you can estimate the EMIs for various SBI home loan rates, tenure, and processing fees. Get all the essential details in just a few clicks!

What is an SBI Home Loan EMI Calculator?

SBI home loan EMI calculator is one of the best online tools for a person planning to apply for a home loan. You can use it any time to realise how much EMI (Equated Monthly Instalments) you will have to pay for the clearance of the loan amount you borrow from the SBI bank. The service is free of cost. You can use the SBI home loan calculator n number for different loan plans. Just enter the loan amount, interest rate, and tenure, and you will get the details instantly. 

Details Provided by An SBI Home Loan EMI Calculator

SBI Home Loan EMI calculator estimates the following details related to SBI home loans:

  • EMI or Equated Monthly Installment: The part of the total repayment amount calculated by equally dividing repayments in months to clear off an outstanding SBI home loan in a decided tenure.  
  • Monthly interest: The amount you will pay as interest each month. 
  • Monthly reducing balance: On deducting the principal part of your EMI from the total outstanding loan amount, a reduced balance is obtained. The interest for the next month is calculated on this reduced outstanding balance. 

Benefits of Using an Online SBI Home Loan EMI Calculator

Using the SBI home loan EMI calculator has multiple advantages, including:

  • First of all, it saves you from manual calculations. Thus, saving your time with assured accuracy.
  • It presents you with a clear picture of the payable EMI over a specific tenure. 
  • It is a free service that comes with unrestricted usage. Therefore, you can repeatedly use the SBI home loan EMI calculator to compare the offerings of various lenders, different loan amounts, and different tenures to determine an affordable EMI. 
  • Changing factors that affect EMI and comparing the results makes it easier for you to decide.
  • You can plan your budget better as the SBI home loan EMI calculator tells the accurate EMI amount that must be put aside before planning your budget.  
  • Most importantly, it is easily available. You can access the online calculator anywhere, anytime, with your laptop, mobile phone, or tablet.

SBI Home Loan Eligibility

Now that you know where you can make all the calculations related to your SBI home loan, you must go through the exact eligibility criteria needed for an SBI home loan. SBI looks for the following points in an applicant:

Age 18 to 70 years
Resident Indian
Loan-to-Value (LTV) Ratio 80% to 90%
Employment Type Salaried individuals, business people, non-salaried professionals
Credit Score Minimum 550



As an applicant for the SBI home loan, your age at the time of loan application should be a minimum of 18 years and a maximum of 70 years.


You should be an Indian resident only. However, SBI offers various home loan schemes and every home loan scheme has different eligibility criteria. Some SBI loan schemes also consider applications of Person of Indian Origin (PIO) and Non-Resident of India (NRI) to suit different people’s requirements.


You just have a regular income. Moreover, your income amount must meet the minimum income set by SBI. The bank provides minimum income criteria for both salaried and self-employed applicants. 

Additionally, you can use the SBI home loan eligibility calculator to get a complete idea of the loan amount you are eligible for based on your monthly income. It considers an interest rate of 6.95% p.a. and maximum repayment tenure of 30 years. 

Credit Scores

Lastly, it would be best to have a good credit score, i.e., above 550. You should not have any default payments to be considered eligible by SBI.

Use an SBI home loan EMI calculator to calculate the monthly instalments accurately. Choose the best plans and select the tenure that suits you the best. Get a complete idea before taking the first big step towards the completion of your dream home. 

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