SBI EMI Calculation

POSTED BY Jagdishk ON August 24, 2012 7:14 pm COMMENTS (3)


I had applied for Home Loan of 3500000+Insurance, so Total sanctioned load amount is 3578000/-.  for 15 years with 10.4%. I opted for full EMI payment.

As per saction letter i need to pay EMI of Rs. 41187. How do they come to this figure ?

If i go to any EMI calculator online, it calculates EMI to Rs 39330. Why there is difference? 

Please help me to understand how SBI comes to magic figure of 41187. Is there any service tax ??



3 replies on this article “SBI EMI Calculation”

  1. Dear Jagdish, @ 41187 Rs. EMI, your loan ‘ll be over in exact 162 months. Which is the original term offered by SBI after the completion of moratorium period.



  2. Lokesh Jain says:

    @ Jagdish

    You will have to take up this matter with bank itself as to how have they come up with EMI. Just also confirm what all charges have you paid (processing charges, stamp charges,etc.). Also recheck the documents of loan sanctioned, how much have they sanctioned, rate of interest, floating or fixed, etc.

    1. Jagdishk says:

      Thanks for replying Lokesh,
      I checked with SBI, they said initially i had opted for 18 month moratorium period, so they calculated EMI for 162 months, Then i opted to pay full EMI but they did not changed EMI which was initially calculated.


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