SBI Home Loan EMI

POSTED BY Sumit ON July 21, 2013 9:15 am ONE COMMENT

Hi All,

I got SBI Home Loan (MaxGain) of 30L @ 9.95 % per year for 240 months (20 years). As per calculations the EMI should come around 28852, however the sanction letter says that EMI would be around 29340. I am struggling to understand what this 489 Rupees per month is for ?

Any Idea/Suggestions please.

One reply on this article “SBI Home Loan EMI”

  1. Mohit Pandey says:

    Sumit, 489 rs will be adjusted against principle amount, this way your loan re-payment period will be reduced by some months. You can aks amortization chart from SBI and check how much amount going towards interest. Interest amount should be same for both EMI amounts.

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