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Calculate SBI Loan Against Property EMI

50000020000000
18.95
130
Total Payments-

₹5,000,000

Total Interest-
₹0
Principal Amount-
₹5,000,000
Total EMI

₹0

View Details
  • Loan Amount
  • Interest Rate
  • Your EMI
  • Tenure
  • ₹5,000,000
  • 8.45%
  • ₹0
  • 30
Updated:

SBI Loan Against Property Details

SBI Loan Against Property is an excellent product that allows customers to procure funds to meet family and business emergencies. A personal loan can also do that but in a comparatively smaller measure. The Loan Against Property enables borrowers to raise funds in crores. Therefore, if your requirements are high, a Loan Against Property is the ideal product.

Additional Info: Also Apply for Home Construction Loan

Types of SBI Loan Against Property

SBI offers three types of Loan Against Property to its customers:

  • Loan Against Property
  • Loan Against Mortgage of Immovable Property
  • Rent Plus - Scheme for a Loan Against Rent Receivables

You can also Apply for 50 Lakh Home Loan

SBI Loan Against Property - Features and Benefits

Following are some attractive features of the loan:

  • Available for meeting all kinds of individual and business emergencies
  • Similar to a personal loan, the borrower need not list out the purpose of the loan
  • Loans available up to 65% of the value of the property, subject to a maximum of 7.50 Crores.
  • Relaxed eligibility norms
  • Loans available against residential and commercial property
  • Loan Against Property is also available on leased out properties
  • Attractive rates of interest that are substantially lower than the personal loan interest rates
  • Extended repayment tenure up to 15 years
  • Simplified documentation
  • Facility to calculate your EMI online using the SBI Loan Against Property EMI Calculator
  • Quick turnaround time
Loan ProductIdeal forMaximum LoanInterest RateMaximum tenure
Loan Against PropertyMeeting the business and individual requirements 7.50 Crores9.30% to 10.85%15 years
Loan Against Mortgage of Immovable PropertyMeeting all kinds of personal and business needs 5 Crores9.30% to 10.85%15 years
Rent PlusLoans for business expansion and meeting the individual needs 7.50 Crores9.30% to 10.85%10 years

Additional Info: Best Home Loan Interest Rates @6.70%

SBI Loan Against Property - Eligibility Norms

The USP of SBI Loan Against Property is the flexible eligibility norms. Following are the eligibility factors considered by SBI for Loan Against Property:

  • Salaried employees earning a minimum net monthly income of 25,000 are eligible for a Loan Against Property.
  • Self-employed individuals are also eligible if they earn a minimum annual net income of 3 Lakhs.
  • Non-resident Indians are also eligible for a SBI Loan Against Property. The property can be in their names, or the names of resident Indian spouse, children, parents, and siblings.
  • The Loan Against Property should be liquidated before the borrower reaches the age of 70 years.
  • The prime condition is that the borrower should be the owner of an unencumbered residential or commercial property in India.

Additional Info: Also check 75 Lakh Home Loan EMI

SBI Loan Against Property - How to Apply

SBI provides the facility to apply for the Loan Against Property online.

  • Visit the webpage of SBI Loan Against Property on the official website of the bank
  • Click on the Apply Now option
  • It will direct you to a new page where you have to submit specific details
  • Enter the type of loan you are looking for
  • Indicate whether you are an existing customer of SBI. If yes, enter the account number and mobile number to get the OTP.
  • Proceed with checking out the loan offers and complete the application
  • If you are not an existing customer of the bank, you can open an account in SBI and then apply for the loan.
  • Alternatively, you can register on the website and apply for the loan. Subsequently, you will have to open a savings account in the bank.

Before applying for the loan, you can calculate the tentative EMI using the SBI Loan Against Property EMI Calculator.

Additional Info: Also check Pan Number for Banks

SBI Loan Against Property EMI Calculator

The EMI Calculator is available on the Quick Links menu at the right side of the SBI webpage. Click on this link and select the EMI Calculator and then follow the steps mentioned below:

  • Enter the loan amount that you are looking for
  • Enter the rate of interest applicable to your loan
  • Provide details of the loan repayment tenure

You get your EMI instantly. On the right-hand top corner of the webpage, you will find the EMI Repayment Schedule option. Clicking on this option will give you the entire repayment schedule, also known as the amortisation chart.

The SBI Loan Against Property EMI Calculator provides details of the interest amount payable throughout the tenure of the loan.

Additional Info: Also check ICICI Home Loan EMI Calculator

Alternate Methods of Calculating EMI on Your Loan

The EMI Calculator is the same for home loans, personal loans, and loans against property. This calculator can prove useful for calculating the EMI of loans that do not have any moratorium period. If there is a moratorium period in the loan sanction terms, this calculator will not serve the purpose. Borrowers can use the Student Loan EMI Calculator with moratorium calculations to determine the EMI.

Here are some alternate methods for calculating the EMI.

Through MyMoneyMantra

MyMoneyMantra offers the facility of an . Borrowers can access this calculator to determine their loan EMIs.

  • Visit the MyMoneyMantra webpage and proceed to Financial Tools
  • Select EMI Calculator
  • Enter the data required such as loan amount, rate of interest, and tenure
  • Click on the Calculate EMI option
  • Get the EMI amount for your range of data
  • This calculator also provides the graphical representation of breakup of interest and principal amount repayment.

Using MS Excel Tables

MS Excel provides you with a smooth formula to calculate the EMI.

The formula is =PMT(rate,nper,pv), where

  • PMT - Resultant figure (EMI amount)
  • Rate - rate of interest (12% = 12%/12 = 1% = 0.01)
  • Nper - Number of months in the repayment tenure
  • PV - Present value of the principal loan amount

Additional Info: Also check HDFC Home Loan EMI Calculator

SBI Loan Against Property EMI Calculator - Advantages

Following are some key benefits of using the EMI Calculator:

  • Knowing your EMI in advance helps you plan your finances better
  • Using the EMI Calculator, you can determine the monthly outgo accurately, thereby helping you to focus on the appropriate amount of loan.
  • The EMI Calculator is also an affordability calculator
  • The SBI Loan Against Property EMI Calculator helps you to determine whether the bank has stipulated the correct EMI.
  • The calculation also helps you to understand the total amount of interest you would have to pay on loan for the entire period.
  • The EMI repayment schedule gives you the breakup of the principal and the interest repayment component of the loan.
  • The SBI Loan Against Property EMI Calculator is a multipurpose calculator. Customers can use the same calculation for determining the EMIs of other loans.

SBI Loan Against Property - Importance of the EMI

Usually, one associates EMI with repayment. However, the SBI Loan Against Property is different because the prospective EMI plays a vital role in deciding the eligibility of the loan amount.

The EMI/NMI (Equated Monthly Income/Net Monthly Income) ratio plays a vital role in calculating eligibility.

Net Annual IncomeEMI/NMI
Over 3 Lakhs and <= 5 Lakhs50%
Over 5 Lakhs and <= 10 Lakhs55%
More than 10 Lakhs60%

When calculating the eligibility for a Loan Against Property, the EMI/NMI calculation has its significance. The loan eligibility should be such that it should not infringe upon the EMI/NMI ratio.

This calculation will help you to understand things better.

Let us assume the following data:

  • Gross Monthly Income: 50,000
  • Net Monthly Income: 40,000
  • Value of Property: 70 Lakhs

Let us calculate the loan eligibility.

The loan eligibility amount is the lowest of the following calculations.

  • Four times the gross annual income: 24 Lakhs --------------------------------------------A
  • The maximum as per the scheme: 7.50 Crores --------------------------------------------B
  • LTV ratio stipulation: 65% - 45 Lakhs --------------------------------------------------------C
  • EMI/NMI requirement: Maximum EMI can be 50% of NMI = 20,000.

Now we calculate what would be the loan amount for an EMI amount equal to 20,000. The rate of interest applicable is 9.30%, and the tenure is 15 years.

The EMI cannot be more than 20,000. Therefore the maximum amount that can fit into these figures is 19.37 Lakhs. The EMI comes to 19,994. ------------------------------------D

SBI Loan Against Property conditions says that the maximum eligibility will be the lowest of the figures A to D. In this case, the maximum eligibility comes to 19.37 Lakhs.

Amortization Table

YearOpening BalanceAmount paid by customer (EMI*12)Interest paid during the yearPrincipal paid during the yearClosing Balance

SBI Loan Against Property EMI Calculator FAQs

Is the SBI Loan Against Property EMI Calculator an accurate one?

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Yes, the SBI Loan Against Property Calculator provides accurate figures. For a given loan amount, rate of interest, and tenure, the EMI calculation is correct. You can confirm the same by using the alternate methods discussed above

What are the factors that determine the loan EMI amount?

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The EMI depends on the following three variables alone:

  • The principal amount of the loan
  • The rate of interest applicable to the loan
  • The repayment tenure

How do these three variables affect the EMI?

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The principal amount varies directly with the EMI. The higher the principal amount, the higher is the EMI. The rate of interest is also similar. The higher the percentage, the more is the EMI. However, the loan tenure works oppositely. The more extended the mandate, the smaller is the EMI amount.

How do you calculate the EMI in the event of a moratorium on the loan repayment?

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This EMI Calculator cannot calculate the EMI under circumstances when there is a moratorium on the repayment.

The moratorium can be of two types. One is where the entire interest and principal repayment get a moratorium. The second case is when the borrower starts the EMI on a specific date. Until that date, the borrower has to pay the interest amount monthly.

You need a different type of EMI Calculator to determine the EMI under such circumstances. The SBI Student Loan EMI Calculator can help you in this regard. 

How does the change in the rate of interest affect the SBI Loan Against Property EMI?

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It depends on the loan tenure. If the loan tenure is a maximum of 15 years, every upward revision in the interest rate increases the EMI amount. In the case of a downward revision, the borrower can opt to reduce the EMI or the tenure. If the loan tenure is less than 15 years, the bank grants the concession of spreading out the same EMI over an extended tenure. Under such circumstances, the loan EMI remains the same foe the upward revision in the rate of interest. The mandate increases accordingly.

What does the loan amortisation schedule indicate?

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The loan amortisation schedule provides details of the EMI deduction throughout the tenure of the loan. It bifurcates the EMI amount into principal and interest repayment components. Thus, you get an idea of how the principal amount keeps reducing over the years.

Can you use the SBI Loan Against Property EMI Calculator to determine the EMI of a personal loan or a home loan?

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Yes, this EMI Calculator is useful for calculating the EMIs of all loan products that do not have any moratorium. Therefore, you can use it for calculating the EMI for a personal loan and home loans where there is no moratorium.

Can this EMI Calculator perform a reverse calculation?

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A reverse calculation is when you need to find out any one of the three variables for a specific EMI amount. For example, we had discussed the loan eligibility calculation above. It envisaged calculating the principal loan amount for a fixed EMI, rate of interest, and tenure. This EMI Calculator cannot perform the reverse calculation. Some banks have such a reverse calculation calculator on their website.

Can this calculator determine the EMI in the case of a loan account with a simple rate of interest?

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No, this calculator cannot calculate the EMI in the case of a simple rate of interest loans. Such loans include agricultural loans. These loans have a different repayment concept where the borrower pays the principal loan amount in a specific number of instalments. They repay the interest separately along with the instalments.

Can I use this calculator to determine the prepayment or foreclosure amount?

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No, the SBI Loan Against Property EMI Calculator is strictly for calculating the EMI alone. You cannot use this calculator for any other purpose.