Calculate your SBI EMI at rates starting from 7.25% p.a.
Maximum LTV allowed: 90% — minimum down payment is 10% of property value.
Disclaimer: Results are estimates based on the standard reducing-balance EMI formula. Maximum LTV is capped at 90% as per standard lending norms. Tax calculations are indicative under the old tax regime. Actual EMI, fees, and tax savings may vary. Consult your lender and a qualified CA for formal quotes.
Use this calculator to estimate your monthly EMI on a SBI home loan, using SBI's current published interest rate — shown in the table below and kept up to date as rates change. The math itself uses the standard reducing-balance formula every RBI-regulated Indian lender is required to follow, so the EMI figure you see here should closely match what SBI itself would quote you for the same loan amount, rate, and tenure. Existing SBI customers can apply for, track, and manage their home loan entirely through the YONO app; new-to-bank applicants can start the application online but typically complete KYC and document verification at a branch.
Whether SBI approves your home loan application — and at what rate — depends on a handful of factors common across Indian lenders. Understanding these before you apply helps you gauge your approval odds and negotiate better terms:
Most lenders, SBI included, require the loan to be fully repaid before you turn 65–70, so your maximum tenure shrinks as your age at application rises. Younger applicants generally qualify for longer tenures and, as a result, lower EMIs.
Salaried applicants are typically assessed on 2–3 years of continuous employment and salary slips, while a SBI home loan for self-employed applicants relies more heavily on income tax returns and business continuity over 2–3 years. Self-employed applicants may see a marginally higher rate or lower loan-to-value to offset income variability.
A CIBIL score of 750 or above is generally treated as strong by Indian lenders and improves both approval odds and the rate offered. Scores below 650 often lead to higher rates or additional conditions, regardless of income.
Lenders total your existing EMI obligations against your gross income (the FOIR benchmark, commonly capped near 40%) before adding a new home loan EMI on top. Paying down existing loans before applying can meaningfully raise how much you're approved for.
Keeping these ready before you apply speeds up processing significantly — incomplete documentation is one of the most common causes of delayed approval:
| Document Type | Salaried Applicants | Self-Employed Applicants |
|---|---|---|
| Identity & Address Proof | PAN, Aadhaar, passport, or voter ID | PAN, Aadhaar, passport, or voter ID |
| Income Proof | Last 3 months' salary slips, Form 16 | 2–3 years' income tax returns, audited financials |
| Bank Statements | Last 6 months' salary account statement | Last 12 months' business account statement |
| Employment/Business Proof | Employment certificate or offer letter | Business registration, GST certificate |
| Property Documents | Sale agreement, title deed, NOC from builder/society | Sale agreement, title deed, NOC from builder/society |
Exact document requirements vary by loan amount and property type — SBI's branch or relationship manager can confirm anything specific to your case.
These figures are pulled from SBI's publicly published terms and kept current:
| Term | SBI Detail |
|---|---|
| Interest Rate (starting from) | 7.25% p.a. |
| Processing Fee | 0.35% of loan amount (min ₹2,000, max ₹10,000) + GST |
| Maximum Tenure | 30 years |
| Prepayment Charges | Nil for floating-rate home loans (RBI-mandated) |
Rates and fees are self-reported by SBI and subject to change without notice — always confirm against your actual sanction letter before signing.
Interest rates change often and vary by credit profile, so use this as a starting point for negotiation, not a final quote. Here's how SBI's currently published rate stacks up against other lenders on ClariMoney:
| Lender | Rate (p.a.) |
|---|---|
| Union Bank | 7.15% p.a. |
| PNB | 7.2% p.a. |
| Bank of Baroda | 7.2% p.a. |
| SBI (this page) | 7.25% p.a. |
| ICICI Bank | 7.55% p.a. |
| Kotak Mahindra Bank | 7.7% p.a. |
| HDFC Bank | 7.75% p.a. |
| Axis Bank | 8% p.a. |
Eligibility generally depends on age (loan must typically close before 65–70), employment continuity (2–3 years for both salaried and self-employed applicants), credit score (750+ is considered strong), and existing debt obligations relative to income (the FOIR benchmark, commonly capped near 40%). Meeting these doesn't guarantee approval, but strengthens your application.
You'll need identity and address proof (PAN, Aadhaar), income proof (salary slips and Form 16 for salaried applicants; income tax returns and financials for self-employed applicants), recent bank statements, employment or business proof, and property documents including the sale agreement and title deed.
Existing SBI customers can apply for, track, and manage their home loan entirely through the YONO app; new-to-bank applicants can start the application online but typically complete KYC and document verification at a branch.
SBI charges 0.35% of loan amount (min ₹2,000, max ₹10,000) + GST. This is typically deducted from the disbursed loan amount rather than billed separately, so factor it into your net loan proceeds.
Nil for floating-rate home loans (RBI-mandated). Use the prepayment feature in the calculator above to model exactly how much interest you'd save by prepaying.
At least one other lender compared on this page currently publishes a lower rate. Rates change often and your personal offer depends on your credit profile, so always get a written quote rather than assuming a published rate applies to you.
Yes — self-employed applicants are assessed primarily on income tax returns and audited financials over 2–3 years rather than salary slips. The lender may apply a marginally higher rate or lower loan-to-value to account for income variability, but approval is routine for applicants with stable, documented business income.
Lenders commonly use the FOIR guideline — your total EMI obligations across all loans generally shouldn't exceed about 40% of gross monthly income. Enter your expected loan amount and tenure into the calculator above; its minimum-income figure applies this benchmark to show roughly what income you'd need.
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