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SBI EMI Calculator

Loan Amount

Interest rate




Loan Duration


1 Yr

30 Yrs



Principal Amount


Total Payable

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What Is the SBI EMI Calculator?

Loans are important offerings by financial institutions that facilitate high-value purchases, sudden financial needs, or education needs of borrowers. Depending on the loan type you opt for, you may or may not be required to produce collateral. However, you can avail most loans with minimal documentation. The loan amount and repayment terms are based on your borrowing history, income, and financial stability. It, however, makes sense to know the total loan cost and how much you will have to pay as monthly EMI before applying for the loan. This will help you to plan your repayment and ensure it aligns with your financial condition. The SBI loan EMI calculator is a helpful tool that can facilitate this calculation.

Angel One has a wide range of bank-specific loan EMI calculators. If you plan to apply to the State Bank of India for a loan, the AngelOne online SBI EMI calculator can help you with the calculation. It lets you estimate your monthly installments by inputting the loan amount, interest rate, and tenure. This tool assists individuals in planning their loan repayment and understanding the financial commitment associated with their chosen loan parameters.

How Does SBI EMI Calculator Work?

An SBI EMI calculator uses three key factors: the loan amount, the interest rate, and tenure. You must enter the total sum you wish to borrow, the applicable interest rate and the loan tenure over which you will repay the loan. After putting in all the details, the EMI calculator will estimate the EMI amount. It will also display the total cost of the loan and the total interest you will need to pay.

What Is the Online SBI EMI Calculator Formula?

The formula to calculate the Equated Monthly Instalment (EMI) for a loan is as follows:

EMI = [P x R x (1 + R)^N]/ [(1 + R)^N - 1]

P = Loan amount (principal)
R = Monthly interest rate (Annual interest rate divided by 12 and converted into a decimal)
N = Loan tenure in months

Let’s understand this with the help of an example:

Suppose you want a loan of Rs. 12 lakh for 3 years at an annual interest rate of 10%.

Once you enter these parameters into the SBI EMI calculator, the calculator will calculate your EMI, i.e., Rs. 38,721. The total payable amount will be Rs. 13,93,942, and the interest will be Rs. 1,93,942.

How To Use the Online SBI EMI Calculator?

The SBI EMI calculator requires the principal amount, interest rate, and total tenure as inputs. With the help of an online SBI EMI calculator, you can quickly compute the EMI you will have to shell out to repay your loan. This will enable you to evaluate whether you can afford the loan.

Here is how you can use the online SBI EMI calculator on Angel One to calculate your EMI:

  1. Go to the SBI EMI calculator on Angel One
  2. Input all the necessary fields like loan amount, interest rate, and loan tenure

After entering all the information, the calculator will process your inputs and yield the EMI value. It will also display other information, such as the total interest payable and total loan cost.

Benefits of Using the SBI EMI Calculator

Below are some of the key benefits of an SBI EMI calculator:-

  1. Easily accessible: The online SBI EMI calculator can be accessed anytime and anywhere on Angel One. That makes it easy to access for anyone with an internet connection.
  2. Saves Time: With easy steps and a few clicks, you can compute your EMI in a fraction of a second. This saves you time and hassle associated with manual calculations.
  3. Consistent and accurate: The SBI EMI calculator consistently provides accurate results. You can use it multiple times and evaluate options to determine what works best.
  4. Free of cost: You do not need to pay anything to calculate your returns. Angel One offers a free SBI EMI calculator for your convenience.

Factors Influencing the SBI Loan EMI Amount

  1. Principal: The amount borrowed directly affects the EMI. A higher loan amount will result in a higher EMI, while a lower loan amount will lead to a lower EMI.
  2. Interest Rate: The prevailing interest rate will impact the EMI value directly. The type of interest rate also significantly impacts the EMI. A fixed rate ensures the same interest rate throughout the payment term, while a floating interest rate can have varying repayment terms.
  3. Tenure: Your EMI amount will be lower if you take longer to repay the borrowed amount. However, this will increase the total loan cost.
  4. Credit Score: Your credit score is an indicator of your creditworthiness. Those with a higher credit score seem safe borrowers to lending institutions and thus get the best interest rates. This leads to lower EMIs. A credit score above 750 is good; if you have it, you have a higher chance of securing a lower interest rate.

Types of Loans Offered by SBI

Here are the types of loans provided by SBI to customers:

  1. Home Loans: SBI offers loans to fulfil your wish of owning a home. The interest rates vary based on your required amount, credit score, market conditions, and other factors.
  2. Auto Loans: SBI auto loans allow you to fund a vehicle purchase. Based on your eligibility, you can avail of credit and buy a two-wheeler, car, electric vehicle or SUV.
  3. Education Loans: You no longer need to give up on your dreams of higher education because of budget constraints. SBI education loans allow you to fund courses at a university in India or abroad. The repayments begin only after course completion, so you can repay after you start earning.
  4. Personal Loan Schemes: SBI offers personal loans to fund any personal emergencies or expenses. These loans typically attract higher interest rates as compared to other loan types.
  5. Loan Against Security and Consumer Loan Durable: SBI allows you to pledge your investments in mutual funds, shares, sovereign bonds, NSCs, insurance, etc. and seek loans for your needs.


What is an online SBI EMI calculator?

The SBI EMI calculator is an online tool that helps you calculate the monthly installment amount you must pay when you take a loan from SBI. It considers the loan amount, loan tenure, and interest rate to give you an accurate estimate.

How to use the online SBI EMI calculator?

To use the online SBI EMI Calculator, visit the Angel One website, find the EMI calculator tool, input the loan amount, interest rate, and tenure, and the calculator will display the EMI amount, total interest payable, and total amount to be repaid.

Is the SBI calculator free to use?

Yes, the SBI EMI calculator is completely free. You can find this on the Angel One website and use it multiple times without paying.

What is the minimum tenure of a SBI loan?

The minimum tenure of a loan depends on the bank or NBFC offering it. Some banks offer a longer tenure which can run into months and years.

What is the interest rate on an SBI loan?

The interest rates depend on several factors, such as the type of loan, loan amount, repayment tenure, and the borrower's credit profile.

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