By using SBI home loan calculator with prepayment you can make informed decision and plan your loan repayment efficiently. Let’s explore how it works and why prepayments can be a smart financial move to decrease your emi of tenure within saving in interest amount massively. SBI offers competitive interest rates starting from 8.5% per year, which may vary based on loan type credit score and tenure. Borrowers can choose from different scheme like regular home loan flexi pay NRI home loan. Each designed faulty front customer needs.

Features Of SBI Home Loan Prepayment Calculator

• Check Prepayment Impact: See how making extra payments lowers your aim of shortens your loan.
• Compare Different Prepayment Amounts: Experiment with a Different amount to find the best strategy.
• Download And Print Option: Our SBI home loan calculator comes with download and print option Which helps to save the strategy. will
• User Friendly Interface: Simple design for easy calculations without any financial expertise needed.

SBI Home Loan Interest Rates

For more accurate details please visit to SBI official website.

Home Loan EMI Calculations

• EMI Calculations: The Monthly EMI computed as

• EMI Calculations:
  • P= Loan amount, r= monthly intrest rate (annual/12), n = Total number of Months.
• Monthly Breakdown
  • Intrest: Outstanding*r
  • Principlal: EMI-Intrest
  • New Outstanding: Previous Outstanding- Principal Paid.

Scenarios

• Normal Scenario ( No Prepayments LumpSum)
  • The EMI remains the same every month
  • The monthly intrest and principal portions are calculated as above until loan is fully repaid.
• Prepayment LumpSum Scenario
  • You can make an extra payment (lumpsum) in a specific month to reduce your loan burden.
    • Example Inputs:
      • Loan Amount: 500000
      • Intrest Rate: 8.5% per annum(0.007083 monthly)
      • Tenure: 20 years (240 Months)
      • Calculated EMI : 4340 per month.
      • Lumpsum Amount: 1000000
      • Lumpsum Month : 12

How it works

• At month 12:
  • compute the normal intrest and principal for the month.
  • Apply the 1000000 lumpsum: substract this extra amount from lumpsum.
• After Lumpsum:
  • reduced Tenure: The EMI remains same, but recalculated how many months are now needed to clear the reduced balance.

• Reduced EMI:
  • Recalculate a lower EMI based on the new outstanding balance and remaining term.

Disclaimer: Calculator provides only self help planning tool that help you to project your financial plannings. Calculations given here are indicative only.

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