SBI Personal Loan EMI Calculator

Managing personal finances can be a ponderous task, especially when considering a significant financial commitment such as a personal loan. To simplify the loan planning process and aid borrowers to make well-informed decisions, SBI provides a user-friendly tool known as the personal loan EMI Calculator. In this article, we will explore the benefits of the SBI personal loan EMI calculator and how it enables the borrower to plan their loan repayment wisely. 

SBI Personal Loan EMI Calculator

Although getting a personal loan from SBI is easy pie,  it is essential that the borrowers must check the monthly EMI amount and repayment tenure. As personal loans are unsecured loans therefore they usually have higher interest rates. Applicants availing of a personal loan can use the Personal Loan EMI calculator to get an estimate of the monthly EMI amount that they are capable of paying periodically. 

The personal Loan EMI Calculator has 3 components:

• The loan amount 
• The interest rate
• The repayment tenure

After entering the above details, you can get to know your EMI in just a click. You can also alter the values under these variables to get the corresponding EMI amount. Therefore, this makes it super easy to calculate the most achievable loan amount and repayment tenure to meet your financial needs.  

Steps to calculate SBI personal loan EMI

The SBI personal loan EMI calculator is easy to use and provides accurate results. 

• Set the loan amount using the slider under the loan amount option or simply type the value. 
• Set the tenure using the slider under the tenure option or simply type the value. 
• Enter the interest rate in the respective field
• Next, provide the processing fee percentage (typically 1.5%) 
• After filling in the required fields click on ‘CALCULATE’.

Your monthly personal loan EMI amount will get displayed. You will also see the breakdown of the payable amount and the repayment schedule.