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Following are the faqs that are related to ICICI bank home loans
Answered on Written by Ramandeep Sadana,Experienced Home Loan Advisor from last 10+ years
The SBI Home Loan interest in India, is 7.35 in 2025, as per the average interest rate reported by RBI. The interest rates can vary at the discretion of SBI and can vary as per the user profile and property.
Aspect | Details |
Typical Disbursement Time | 3 to 10 days after submission of all required documents and completion of formalities. |
Factors Affecting Timeline | - Complexity of the loan application- Property verification process- Financial profile of the applicant |
Steps to Expedite Process | - Ensure complete and accurate documentation- Respond promptly to bank queries- Maintain clear communication with the loan officer |
Additional Notes | Timeline may vary depending on the specifics of the loan and applicant. Regular follow-ups with SBI are recommended. |
Component | Details |
Formula | EMI = P×r×(1+r)n / (1+r)n−1 |
Components Explained | P = Principal loan amountr = Monthly interest rate = (Annual interest rate ÷ 12 ÷ 100)n = Loan tenure in months |
Example Inputs | Principal (P): ₹50,00,000Annual Interest Rate: 8.50%Loan Tenure: 20 years |
Converted Inputs | Monthly Interest Rate (r): 8.50% ÷ 12 = 0.007083 (decimal)Loan Tenure in Months (n): 20 × 12 = 240 months |
Example EMI | EMI = ₹43,391.43 |
Amortization Schedule (First 12 Months):
Month | Principal (₹) | Interest (₹) | EMI (₹) | Outstanding Balance (₹) |
1 | 7,108.57 | 36,282.86 | 43,391.43 | 49,92,891.43 |
2 | 7,159.12 | 36,232.31 | 43,391.43 | 49,85,732.31 |
3 | 7,209.89 | 36,181.54 | 43,391.43 | 49,78,522.42 |
4 | 7,260.88 | 36,130.55 | 43,391.43 | 49,71,261.54 |
5 | 7,312.09 | 36,079.34 | 43,391.43 | 49,63,949.45 |
6 | 7,363.52 | 36,027.91 | 43,391.43 | 49,56,585.93 |
7 | 7,415.17 | 35,976.26 | 43,391.43 | 49,49,170.76 |
8 | 7,467.04 | 35,924.39 | 43,391.43 | 49,41,703.72 |
9 | 7,519.13 | 35,872.30 | 43,391.43 | 49,34,184.59 |
10 | 7,571.45 | 35,820.98 | 43,391.43 | 49,26,613.14 |
11 | 7,624.00 | 35,769.43 | 43,391.43 | 49,18,989.14 |
12 | 7,676.76 | 35,717.67 | 43,391.43 | 49,11,312.38 |