About SBI lending
State Bank of India prices its home loans off the repo rate, which is why its advertised rate tends to move within days of an RBI decision. For a borrower with a credit score above 750 and a salaried profile, the home loan rate usually lands in the low 8% range, and the bank allows tenures up to 30 years.
Personal and car loans are priced higher because they carry more risk. The calculator above defaults to a home loan; change the amount, rate and tenure to model any SBI product using the ranges in the table below.
SBI indicative rates
Ranges compiled 28 October 2026. Rates depend on your credit score, income and the loan-to-value ratio — always confirm with the bank before deciding.
| Product | Indicative rate | Typical tenure |
|---|---|---|
| Home loan | 8.25% – 9.85% | Up to 30 years |
| Personal loan | 11.10% – 15.60% | 1 – 7 years |
| Car loan | 8.75% – 10.35% | Up to 7 years |
| Education loan | 8.50% – 11.15% | Up to 15 years |
| Gold loan | 9.25% – 11.50% | Up to 12 months |
How to use this calculator
- Enter the amount you plan to borrow from SBI.
- Set the rate the bank has quoted you, and the tenure in months.
- Compare the total interest with a second lender's offer — that number, not the EMI, is what a lower rate really buys you.
How the EMI is worked out
EMI = [P × r × (1 + r)n] ÷ [(1 + r)n − 1], where P is the principal, r the monthly rate (annual ÷ 12 ÷ 100) and n the tenure in months. Every bank in India uses this reducing-balance method.
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.
Year-wise amortisation schedule
How the loan actually unwinds: the interest share falls every year while the principal share rises.
Show the year-by-year break-up
| Year | Principal paid | Interest paid | Balance left |
|---|
Frequently asked questions
Is the SBI home loan rate fixed or floating?
SBI's retail home loans are floating rate, linked to the repo rate. The bank also offers a fixed-rate option for a limited period on some products, but the standard home loan is floating.
What is the maximum tenure for an SBI home loan?
Up to 30 years, subject to the borrower being under 70 at the end of the tenure. A longer tenure lowers the EMI but raises the total interest substantially.
Does SBI charge a prepayment penalty?
Floating-rate home loans to individuals carry no prepayment penalty. Fixed-rate loans and some other products may attract a charge of 2–3% of the amount prepaid.
How is the SBI EMI calculated?
On a reducing balance, using the standard formula EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1). This calculator uses the same method, so the figure matches the bank's schedule to the rupee.