SBI Bank Personal Loan EMI Calculator

What is a Personal Loan EMI Calculator?

A Personal Loan EMI Calculator is a simple online tool that helps you figure out how much you’ll pay each month (EMI) to repay your loan.

You just need to enter:

• Loan amount (how much you want to borrow)

• Loan tenure (how long you want to repay)

• Interest rate (rate offered by the bank)

The calculator instantly shows your monthly EMI, total interest payable, and total repayment amount.

How Does the SBI Bank Personal Loan EMI Calculator Work?

The SBI EMI Calculator works using a fixed formula that calculates your EMI based on three main inputs:

1. Loan Amount (e.g., ₹3,00,000)

2. Loan Tenure (e.g., 36 months)

3. Interest Rate (e.g., 11% p.a.)

Once you enter these, the calculator gives you instant results:

• Your monthly EMI

• The total interest you will pay over the full loan term

• The total amount to be repaid

It helps you plan ahead and choose the right loan terms before applying.

EMI Calculation Formula

Here’s the formula used by the calculator:

EMI=P×R×(1+R)N(1+R)N−1\text{EMI} = \frac{P \times R \times (1 + R)^N}{(1 + R)^N - 1}EMI=(1+R)N−1P×R×(1+R)N​

Where:

• P = Principal loan amount

• R = Monthly interest rate (Annual rate ÷ 12 ÷ 100)

• N = Loan tenure in months

Don’t worry about doing the math yourself—the EMI calculator does it instantly.

Amortisation Schedule

An amortisation schedule is a table that shows how your loan will be repaid over time. It includes:

• EMI amount

• Principal repaid each month

• Interest paid each month

• Outstanding loan balance after each EMI

In the beginning, a larger part of the EMI goes toward interest, and over time, more of it goes toward principal repayment. This schedule helps you understand your loan breakdown month by month.

How to Use the SBI Bank Personal Loan EMI Calculator

Using the SBI EMI calculator is quick and easy. Follow these steps:

1. Visit the SBI official website

2. Go to the Personal Loan EMI Calculator section under “Loans” or “Tools”

3. Enter the Loan Amount (e.g., ₹2,00,000)

4. Choose the Loan Tenure (e.g., 24 or 36 months)

5. Enter the Interest Rate (e.g., 11.5%)

The calculator will instantly show:

• Your EMI

• Total interest payable

• Total amount payable

You can adjust the values to see what fits your budget best.

Why Use the SBI Bank Personal Loan EMI Calculator?

Using this calculator before applying for a loan has several advantages:

• Gives you a clear idea of your EMI

• Helps you compare different loan options

• Avoids financial surprises

• Ensures the EMI fits your monthly income

• Saves time and avoids complex manual calculations

It’s a must-use tool for confident and stress-free loan planning.

Benefits of Using a Personal Loan EMI Calculator

Benefit	How it Helps
Budget Planning	Know if the EMI is affordable for your income
Informed Decisions	Choose the right loan amount and tenure
Loan Comparison	Try different scenarios to find the best fit
Time-Saving	Instant results with zero paperwork
Transparency	Understand the total cost of borrowing

Explore Other Useful Loan Calculators

SBI also offers other calculators that can help you with different types of loans:

• Home Loan EMI Calculator

• Car Loan EMI Calculator

• Education Loan Calculator

• Business Loan Calculator

• Loan Against Property EMI Calculator

Each calculator works the same way—just enter your loan details and get instant EMI results.

Other Financial Tools You May Find Helpful

SBI’s website also offers more tools to help you manage your money:

• SIP Calculator – For mutual fund investment planning

• FD Calculator – To check maturity value of fixed deposits

• RD Calculator – For recurring deposit returns

• Income Tax Calculator – Estimate your annual tax

• Loan Eligibility Calculator – Know how much you can borrow

These tools are free and super useful for financial planning and decision-making.