EMI: ₹17,356/month at 8.5%. Min income: ₹33,377/month.
A ₹20 Lakh home loan from SBI at 8.5% interest for 20 years will cost you ₹17,356 per month as EMI. You will pay a total interest of ₹21,65,440 over the loan tenure. The minimum monthly income needed is ₹33,377 (assuming no existing EMIs).
SBI Home Loan EMI for ₹20 Lakh at 8.5% for 20 years is ₹17,356 per month.
You need a minimum monthly income of ₹33,377 for a ₹20 Lakh home loan from SBI (at 8.5% rate, assuming no existing EMIs).
The total interest payable on ₹20 Lakh home loan from SBI at 8.5% for 20 years is ₹21,65,440.
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.