EMI: ₹34,713/month at 8.5%. Min income: ₹66,756/month.
A ₹40 Lakh home loan from SBI at 8.5% interest for 20 years will cost you ₹34,713 per month as EMI. You will pay a total interest of ₹43,31,120 over the loan tenure. The minimum monthly income needed is ₹66,756 (assuming no existing EMIs).
SBI Home Loan EMI for ₹40 Lakh at 8.5% for 20 years is ₹34,713 per month.
You need a minimum monthly income of ₹66,756 for a ₹40 Lakh home loan from SBI (at 8.5% rate, assuming no existing EMIs).
The total interest payable on ₹40 Lakh home loan from SBI at 8.5% for 20 years is ₹43,31,120.
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.