What is the current SBI interest rate?

SBI's indicative rate is 9.15% p.a.. SBI personal/general loan rate as of June 2025. Actual rates depend on your credit score, loan amount, and tenure.

How is SBI EMI calculated?

EMI = [P × r × (1+r)^n] / [(1+r)^n – 1], where P is principal, r is monthly rate (annual rate ÷ 12 ÷ 100), and n is tenure in months.

Can I prepay my SBI loan?

Yes. SBI generally allows part-prepayment and foreclosure. Floating-rate retail loans typically attract no prepayment penalty under RBI guidelines.

How do I apply for a SBI loan online?

Visit State Bank of India's official website or mobile app, navigate to the relevant loan product, and complete the online application. You will need KYC documents and income proof.

SBI EMI Calculator

9.15% p.a.

Current Rate

9.15% p.a.

Max Tenure

Up to 7 years

Processing Fee

Up to 1% of loan amount

Rates shown are indicative as of June 2025. Verify current rates with State Bank of India before applying.

Monthly payment

$20,831.23

Principal
Interest

Principal: $1,000,000.00
Total interest: $249,873.84
Total paid: $1,249,873.84
Term: 5 yr

Over the full term you pay 25% of the borrowed amount in interest. Your payments only start putting more toward principal than interest in month 1.

Amortization schedule

Year	Payment	Interest	Principal	Balance
1	$249,974.77	$84,682.11	$165,292.66	$834,707.34
2	$249,974.77	$68,907.16	$181,067.61	$653,639.73
3	$249,974.77	$51,626.70	$198,348.07	$455,291.66
4	$249,974.77	$32,697.05	$217,277.72	$238,013.94
5	$249,974.77	$11,960.82	$238,013.94	$0.00

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Real what-if scenarios calculated from your numbers.

Scenarios use the exact same math as the calculator — no estimates.

How does this compare?Healthy

Recommended max interest (25% of loan)$250,000.00

Your total interest$249,873.84

You're short by$126.16

Interest-to-principal rule — efficient loans keep total interest under 25% of the amount borrowed

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Frequently asked questions

What is the current SBI interest rate?: SBI's indicative rate is 9.15% p.a.. SBI personal/general loan rate as of June 2025. Actual rates depend on your credit score, loan amount, and tenure.
How is SBI EMI calculated?: EMI = [P × r × (1+r)^n] / [(1+r)^n – 1], where P is principal, r is monthly rate (annual rate ÷ 12 ÷ 100), and n is tenure in months.
Can I prepay my SBI loan?: Yes. SBI generally allows part-prepayment and foreclosure. Floating-rate retail loans typically attract no prepayment penalty under RBI guidelines.
How do I apply for a SBI loan online?: Visit State Bank of India's official website or mobile app, navigate to the relevant loan product, and complete the online application. You will need KYC documents and income proof.

Looking for the generic version? Open the standard EMI Calculator