SBI Home Loan at a glance
SBI's home loan is linked to the repo rate and is the benchmark other lenders price against. For a salaried borrower with a score above 750, the effective rate tends to sit in the low 8% range, with tenures up to 30 years.
Because the rate resets whenever the RBI moves, the EMI can change mid-tenure. When rates fall, ask the bank to keep the EMI and reduce the tenure instead — over a 20-year loan that saves materially more interest than a lower EMI does.
Monthly EMI at 9.05%
What the instalment looks like at the indicative rate, across the amounts people most often borrow and the tenures most often chosen.
| Loan amount | 10 yr | 15 yr | 20 yr | 30 yr |
|---|---|---|---|---|
| ₹20,00,000 | ₹25,389 | ₹20,345 | ₹18,059 | ₹16,164 |
| ₹30,00,000 | ₹38,084 | ₹30,517 | ₹27,088 | ₹24,247 |
| ₹50,00,000 | ₹63,473 | ₹50,862 | ₹45,147 | ₹40,411 |
| ₹1,00,00,000 | ₹1,26,947 | ₹1,01,724 | ₹90,294 | ₹80,822 |
How SBI compares
Same product, same amount (₹30,00,000) and tenure (240 months). The EMI column uses the midpoint of each bank's published range, so it is a like-for-like comparison rather than a best-case quote.
| Bank | Indicative rate | Monthly EMI |
|---|---|---|
| HDFC Bank | 8.35% – 9.90% | ₹27,224 |
| Kerala Gramin Bank | 8.50% – 9.75% | ₹27,224 |
| ICICI Bank | 8.40% – 9.95% | ₹27,340 |
| Federal Bank | 8.55% – 10.05% | ₹27,573 |
| Canara Bank | 8.40% – 10.25% | ₹27,612 |
Rates compiled 28 October 2026 and indicative only. Your offer depends on credit score, income and loan-to-value ratio.
What an extra ₹2,000 a month would do
Same loan, same rate, one extra payment every month. This is the cheapest way to cut the total cost of any loan.
| Scenario | Monthly payment | Loan closes in | Total interest |
|---|
Floating-rate home loans to individuals carry no prepayment penalty in India. Personal and car loans often charge 2–5% of the outstanding amount — check before you prepay.
Frequently asked questions
What is the maximum SBI home loan tenure?
Up to 30 years for most borrowers, subject to your age at the end of the tenure. A shorter tenure raises the EMI but cuts the total interest sharply — on a ₹30 lakh loan, 20 years instead of 30 saves more than ₹20 lakh in interest.
Is the SBI home loan rate fixed or floating?
The standard product is a repo-linked floating rate, so the EMI or the tenure changes when the RBI moves the policy rate. Fixed-rate variants exist but usually start at a higher rate.
Can I prepay my SBI home loan?
Floating-rate home loans to individuals carry no prepayment penalty in India. Prepaying in the first five years saves the most, because that is when interest dominates the EMI.
What is the EMI on a ₹30 lakh SBI home loan?
At the indicative rate of 9.05% over 20 years the EMI is about ₹27,088. Over 240 months that totals ₹65,01,198, of which roughly ₹35,01,198 is interest.