SBI Personal Loan EMI Calculator

The State Bank of India expects personal loan borrowers to pay the loan amount in equated monthly installments, this is known as the loan EMI. Use online personal loan calculator to know the emi, tenure and net payable amount of loan.

SBI Personal Loan Calculator

SBI Personal Loan calculator available on our website which is use to calculate the EMI Payable for the entire tenure when you take a loan from SBI Bank.

Formula for Calculating Loan EMI

Formula for calculating the Personal Loan EMI is either by using excel or by a metamathematical formula:

1) Calculate EMI by Excel Sheet formula

EMI on the excel sheet is calculated as PMT wherein

  • P – Rate of interest or rate – this must be a monthly interest rate
  • M – Number of periods or nper – here the period is 4 months, hence, the number of years is divided by 4
  • T – The loan value or present value or pv – the total loan amount to be availed

Hence, in the excel sheet, formula

2) Online Mathematical Formula to Calculate emi for Personal Loan

Calculate EMI on online calculator uses the following formula:

= [P x R x (1+R)٨N]/[1+R٨N-1]


  • P – the principal amount or the total amount the borrower will avail as loan
  • R- Rate of interest per month – if a rate of interest is 12% then the formula used is 12/(12X100)
  • N – Number of monthly installments or the loan tenor divided into months

Both the formulas should give the same result, and this is the amount that the borrower will have to pay every month until the loan is repaid in full.

sbi personal loan emi calculator

Factors Affecting on Personal Loan EMI

As is obvious from the above mathematical calculations and excel sheet formulas used in the SBI EMI personal loan calculator, there are various factors affecting the equated monthly installments or EMI. These are:

  1. Interest Rate – Though the Reserve Bank of India lays down the rules and regulations, SBI will charge an interest rate based on your repayment capacity, risks associated with giving you a loan, job history, income, your CIBIL score.  The interest rate is directly proportional to the EMI, hence, higher the interest rate, higher the EMI. You can use the SBI Personal Loan EMI calculator to check the monthly EMI according to loan amount, interest rate and tenure.
  2. Loan Tenure – Though most personal loans are available for a tenor of 1-5 years, the amount can vary across financial institutions. The loan tenor is indirectly proportional to the EMI, hence, longer the loan tenor, the lower the EMI.
  3. CIBIL score – The Credit Information Bureau (India) Limited gives a score to every individual citizen of the country. The score is based on loan history and considers your payments, late payments, and other factors. The score is given out of 900. A credit score is indirectly proportional to EMI, hence, the higher the credit score, the lower is the interest rate charged, and the lower is the EMI.
  4. Level of Income – Banks are willing to negotiate a lower interest rate for people with higher earnings. Thus, the income you earn is indirectly proportional to the EMI, hence, the higher the income, the lower the rate of interest and the lower is the EMI.  

Benefits of Calculating EMI with EMI Calculator online

There are many benefits of using the online EMI calculator instead of the excel sheet:

  1. It is easier – All you must do is input P, R, and N, and click on calculate, and you will get the EMI. This is the most hassle-free way to calculate the personal loan EMI
  2. Errors are eliminated– Since you do not have to manually calculate the number of periods, or the monthly rate of interest, errors are eliminated, giving you accurate results
  3. It is free – An online EMI calculator is free to use.
  4. You can access online calculators from anywhere – An online EMI calculator can be easily accessed on any device from laptops to smartphones and tablets.
  5. Calculate by changing parameters –. Change loan amount or monthly installments (you just must fill the number of years and the calculator will do the rest) to know the amount you are comfortable paying every month.

Using the Personal Loan EMI Calculator

The SBI personal loan EMI calculator is an easy-to-use tool, which can simplify the calculations. Like all other calculations, this requires you to fill in details such as principal amount, tenor and interest rate.


1. Why should I calculate the EMI online?

There are many benefits of calculating personal loan EMI which are shared above, but the biggest advantage is being able to calculate your EMI before approaching the bank and using various combinations to arrive at a figure you are most comfortable paying.

2. Does the online calculator give exact EMI?

The Loan EMI Calculator gives an approximation, and you should approach a Customer Executive to help you calculate the exact EMI payable.

3. What is the CIBIL Score?

The score is given to an individual out of 900 points. It determines the statistical loan paying capacity of an individual. A CIBIL score of 750+ is considered as good.


1. Principal Amount

The loan amount approved by the bank for the borrowers to meet their expenditures is known as the principal amount.

2. Interest Rate

The interest that SBI will charge on the loan amount is known as the interest rate.  

3. Tenure

The number of years within which a borrower is expected to repay the principal and interest amount in full to the bank is known as the tenor.

4. EMI

This is the equated monthly installment, which a borrower has to pay every month after availing the loan, and until the loan amount with interest is repaid in full.

5. Processing Fees

The fee charged by the SBI for processing the personal loan amount is known as the processing fees. A State Bank EMI calculator will not take the fee into account while calculating the EMI.

6. Processing Fees and Charges for SBI Personal Loan

Before noting the fees and charges, you should know all about the SBI personal loan eligibility calculator to know if you are eligible for the loan, keeping the following factors in mind

  1. Documentation- For Personal Loan you have to provide KYC along with income proof, bank statement and photograph

  1. Age – You should be an Indian citizen between the ages of 21-58 years
  2. Income & Salary – You need a minimum salary of 5,000 with a minimum work experience of 2 years.

Fees & ChargesRangeType
Interest Rate12.75-14.75Floating Rate
Processing Fee1% + Applicable taxOne-time fee
Loan Amount25,000 – 150,000 
TenorUp to 5 years 



Taking a personal loan can be unavoidable, but knowing you have the capacity to repay the loan without a hassle is also important. Hence, you should use the SBI personal loan calculator to know the amount that will be liable to pay every month if the loan is approved.

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