Understanding EMI
Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. It includes the interest on the loan as well as part of the principal amount to be repaid.
Why Use the SBI Personal Loan EMI Calculator?
- Accuracy: Provides precise EMI calculations, helping you plan your finances better.
- Convenience: Saves time and effort compared to manual calculations.
- Flexibility: Allows you to explore various loan scenarios by adjusting the loan amount, interest rate, and tenure.
How to Use the Calculator
Simply enter your loan amount, interest rate, and loan tenure to get instant EMI calculations. Adjust these values to see how they affect your monthly payments.
₹
Your Personal Loan EMI
/ month
| Month | Principal Paid | Interest Paid | Remaining Balance |
|---|
Planning Your Loan with SBI
With competitive interest rates and flexible repayment options, SBI personal loans can be tailored to meet your financial needs. Use our EMI calculator to make an informed decision about your loan.
Tips for Loan Borrowers
Consider your repayment capability before taking a loan, keep an emergency fund, and try to prepay your loan whenever possible to save on interest.