How much EMI will have to be paid on home loan of Rs 30 lakh from SBI? understand calculations

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May 9, 2024 - 3:14 PM

Dreaming of a home loan?

SBI, one of the largest banks in the country, is offering home loans at the rate of 9.15% per annum. If you are dreaming of buying your own house, then it is important to know how much EMI you will have to pay and how much total interest you will have to pay.

This article will help you calculate EMI and total interest on home loan of Rs 30 lakh from SBI.

SBI Home Loan EMI Calculation:

According to SBI website, customers with civil score of 750 or more are getting home loan at an introductory rate of 9.15%.

accept it:

Loan amount: ₹30 lakh
Duration: 20 years
Interest Rate: 9.15% per annum
on this basis:

EMI: ₹27,282
Total interest: ₹35,47,648
Total Payment: ₹65,47,648
Meaning:

If you pay EMI for 20 years, you will have to pay a total of ₹ 65,47,648.
Of this, ₹35,47,648 will be in the form of interest only.

pay attention:

This calculation is for estimation only.
Your EMI and total interest may vary depending on your civil score, loan tenure and interest rate.
Using the SBI Home Loan Calculator you can make accurate calculations as per your specific needs.

SBI Home Loan EMI Calculator:

Using SBI Home Loan EMI Calculator you can calculate your EMI and total interest by entering the loan amount, tenure and interest rate as per your requirements.
You can also compare different loan options using the calculator.

How to apply for SBI home loan:

You can apply online or offline through SBI website or any SBI branch.
To apply you need to submit some required documents, such as Aadhar Card, PAN Card, Income Proof, and Asset Proof.

Benefits of SBI Home Loan:

SBI home loans come with a variety of loan options that can suit your needs.
SBI offers competitive interest rates and low EMIs.
SBI home loan has easy loan process and fast approval.