ICICI Bank Home Loans - Eligibility

EMI Calculator

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ICICI Home Loan EMI Calculator

Your EMI is going to be

₹43,075

Required Loan Amount

Interest Rate (% P.A.)

Tenure (Years)

Years

Principal Amount

₹50,00,000

Interest Amount

₹53,38,053

Total Amount Paid

₹1,03,38,053

FAQ's Related to ICICI Bank Home Loans

Following are the faqs that are related to ICICI bank home loans

Q. What is SBI home loan interest rate?

Answered on Written by Ramandeep Sadana,Experienced Home Loan Advisor from last 10+ years

Ans:

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.

Q. Are SBI Home Loans interest rate fixed or floating?

Ans:

The SBI Home Loans interest rate are floating and changes as per the movement in RBI Repo Rate declared by the Central Bank time to time.

Q. What are pre-payment or foreclosure charges in SBI home Loan?

Ans:

SBI Home Loan doesn't levy in pre-closure charges irrespective of the tenure specially for individuals.

Q. How can I check eligibility criteria of SBI Home Loans?

Ans:

The eligibility criteria for home loan can be checked at SBI website which will be aligned with below mentioned criteria: Resident Type: Resident Indian Minimum Age: 18 years Maximum Age: 70 years Loan Tenure: up to 30 years.

Q. How long will it take to get the loan disbursed from SBI?

Ans:

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.

Q. How is SBI Home Loan EMI Calculated?

Ans:

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

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