SBI Home Loan Calculator

SBI Home Loan Calculator

If you are searching for an online home loan calculator from State bank of India, and please be informed that the SBI home loan calculator which is available on their website is a very crude and trivial form of home loan calculator. The web page on the State bank of India official website of State bank of India, on which SBI home loan calculator is available, is not easily searchable.

This web page easing doesn’t figure in the Google search for the term “SBI home loan calculator”. The calculator is buried deep down in the user menu of the SBI website. Even if you find it out, it won’t be of any use because it doesn’t take into account the present official interest rates applicable on SBI home loans and also the official SBI home loan calculator doesn’t provide you the amortization schedule. You can have a look at the following image of SBI Home loan calculator available on the official website.

sbi-home-loan-calculator

Alternative To SBI Home Loan Calculator

Instead of using official SBI home loan calculator, we would recommend you to find out the current applicable interest rates on the home loans provided by SBI and then use any of the online calculators for calculating the amortization schedule. You can also use the amortization schedule template available on this website for free download. This loan calculator template will allow you to calculate the amount of each monthly payment and also calculate the value of the interest component and the principal repayment component which constitute the total monthly payment, also called EMI.

This customized SBI home loan calculator will help you a great deal to plan your finances for the repayment of your home loan. This calculator, downloaded freely from this website, is also has the provision to calculate the effects of additional payments – either in the form of lump-sum payments or in the form of additional monthly payments along with the EMI due.

Download SBI Home Loan Calculator

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SBI Home Loans And Their Types

State bank of India is one of the largest home loan providers in India. It has several options and offers for home loan seekers at attractive interest rates and suit for all needs and requirements. Some of the popular and important home loan products from SBI are as follows.

  1. SBI Maxgain: this home loan is granted as an overdraft facility with the added flexibility operate your home loan account like your saving bank or current account. It does minimizes your interest costs by enabling you to park your surplus funds in the SBI account.
  2. SBI Realty: it is a home loan for watches of plot of land or construction of a dwelling unit. This SBI home loan is available for a maximum amount of Rs. 10 crore and with a comfortable repayment period of up to 15 years.
  3. SBI home equity: this is a specialized home loan scheme is launched to grant personal loans to the bank home loan customers against the security of their house property. All home loan customers with a satisfactory repayment period of at least one year and who maintained a saving bank account or current account with SBI can avail this facility.
  4. NRI home loans: these home loans are provided to non-resident Indians and persons of Indian origin living abroad. All non-resident Indians holding a valid Indian passport or persons of Indian origin holding a foreign passport with minimum employment tenure in India or abroad of two years are eligible for getting an SBI home loan under this category.
  5. SBI tribal Plus: it is the spatial home loan scheme from State bank of India which is designed for Hill/tribal areas for extending financial assistance to individuals in such areas for the purchase or construction of new house or land.
  6. Gram Niwas: scheme covers all rulers and semi-urban centres. This scheme seeks to provide home loans to farming and poorest of the poor people into rural areas for the purpose of purchase or construction of a house, repairs and renovation, purchase of plot for the purpose of construction of a house/shed etc.
  7. Sahyog Niwas: this scheme has been instituted to finance the self Help groups with a good track record of payment record for two years, four on lending to members for housing in rural areas.

For the home loan seekers from SBI, we would again like to remind you that the online SBI home loan calculator, might not be serving your requirement to know the details of your SBI home loan and will not be able to create an amortization schedules for you. Instead of looking for that you are encouraged to use the MS Excel template we have on our website and customize it for use as SBI home loan calculator

3 Comments
  1. Sir, I would like to know whether you are giving home loan to the extent of 80% of agreement value of the flat in Mumbai, and in addition to this you are also giving loan against stamp duty and registration charges paid to state govt. plus society deposits paid to the builders.

    Now that Government of Maharashtra is charging 1% of agreement value/ready reckener value as VAT and also service tax of 4.59% of agreement value is also being paid. Whether these are also taken into account while arriving at loan eligibility assuming other eligibility criteria like salary, agreement value of flat/valuation report is as per the approved norms. your early reply will be appreciated.

    • Your comment is awaiting moderation.
      Sir, I would like to know whether you are giving home loan to the extent of 80% of agreement value of the flat in Mumbai, and in addition to this you are also giving loan against stamp duty and registration charges paid to state govt. plus society deposits paid to the builders.
      Now that Government of Maharashtra is charging 1% of agreement value/ready reckener value as VAT and also service tax of 4.59% of agreement value is also being paid. Whether these are also taken into account while arriving at loan eligibility assuming other eligibility criteria like salary, agreement value of flat/valuation report is as per the approved norms. your early reply will be appreciated.

  2. Your comment is awaiting moderation.
    Sir, I would like to know whether you are giving home loan to the extent of 80% of agreement value of the flat in Mumbai, and in addition to this you are also giving loan against stamp duty and registration charges paid to state govt. plus society deposits paid to the builders.
    Now that Government of Maharashtra is charging 1% of agreement value/ready reckener value as VAT and also service tax of 4.59% of agreement value is also being paid. Whether these are also taken into account while arriving at loan eligibility assuming other eligibility criteria like salary, agreement value of flat/valuation report is as per the approved norms. your early reply will be appreciated.

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Disclaimer

Lots of approximations and assumptions have been made while developing the calculators.

Please make your own calculations before making any financial decision.