EMI: ₹43,391/month at 8.5%. Min income: ₹83,445/month.
A ₹50 Lakh home loan from SBI at 8.5% interest for 20 years will cost you ₹43,391 per month as EMI. You will pay a total interest of ₹54,13,840 over the loan tenure. The minimum monthly income needed is ₹83,445 (assuming no existing EMIs).
SBI Home Loan EMI for ₹50 Lakh at 8.5% for 20 years is ₹43,391 per month.
You need a minimum monthly income of ₹83,445 for a ₹50 Lakh home loan from SBI (at 8.5% rate, assuming no existing EMIs).
The total interest payable on ₹50 Lakh home loan from SBI at 8.5% for 20 years is ₹54,13,840.
SBI charges a processing fee of 0.35% of loan amount + GST (min ₹2,000, max ₹10,000) for Home Loan.
SBI Home Loan prepayment policy: Nil for floating rate loans.