SBI Personal Loan: How much will you payback on Rs 5 lakh & 10L loan

New Delhi: Using the State Bank of India (SBI) Personal Loan EMI Calculator, a borrower can easily get the info on the interest amount and monthly EMIs. Let’s take an example of a borrower to applying for a personal loan of Rs 5 lakh which the individual wants to repay it in five years. Currently, SBI loan interest rates start from 11.35 per cent provided a good civil score of around 800 or more. Let’s see with these metrics, how much will be the interest amount and monthly EMIs.

SBI EMI calculator for personal loan: How much EMI will you have to pay on Rs 5 lakh personal loan with repayment schedule of 5 years.

Loan Amount: Rs 5,00,000
Loan tenure: 5 years
ROI: 11.35%
What the SBI EMI Calculator showed:
EMI Calculated : Rs 10,946
Total Interest: Rs 1,56,770

The SBI EMI Calculator shows that the borrower would have to payback total amount of Rs 6,56,770 on SBI personal loan of Rs 5 lakh. This does not include loan processing charges.

Let’s take another example. Suppose, the borrower is in requirement of SBI personal loan of Rs 10 lakh. The individual would be able to payback loan in next 5 years. So, let’s see what the SBI Personal Loan EMI Calculator shows:

Principal: Rs 10,00,000
Loan tenure: 5 years
ROI: 11.35%
What the SBI EMI Calculator showed:
EMI Calculated : Rs 21,892
Total Interest: Rs 3,13540

As, you can see, according to the SBI Personal Loan EMI Calculator,  the borrower would have to give EMIs of Rs 21,892 on Rs 10 lakh personal loan. At 11.35 per cent rate of interest, the person will payback total of Rs 13.13 lakh to the bank within 5 years.

Note: The figures are only for general planning tools The EMI Calculated and Total Interest are indicative. Actual figures may vary.

 SBI Personal Loan Interest Rate: SBI EMI Calculator shows you will have to payback total of Rs 6.56 lakh if you apply for a personal loan of Rs 5 lakh.  Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today