How this calculator works
Your maximum affordable EMI is calculated as: Max EMI = Monthly income × FOIR% − Existing monthly EMIs. This is the portion of your income a lender like SBI would typically consider available for a new home loan EMI, after accounting for your current fixed obligations.
Your maximum loan amount is then derived by working the standard EMI formula backward — treating the Max EMI as the present value of an annuity: Max Loan = Max EMI × [(1+r)n − 1] / [r × (1+r)n], where r is the monthly interest rate and n is the number of monthly instalments over your chosen tenure.
This calculator uses a generic FOIR-based eligibility method common across Indian lenders. It is not SBI's official eligibility calculator, and SBI's exact internal credit policy is not publicly disclosed. Always confirm your actual eligibility directly with SBI.
Why the interest rate matters
Your eligible loan amount is highly sensitive to the interest rate you enter. A higher rate reduces the loan amount your Max EMI can support over the same tenure, and vice versa. Because SBI's published home loan rates change periodically and vary by loan amount, tenure, and applicant profile, this calculator deliberately does not pre-fill or assume any specific SBI rate — always enter the current rate from sbi.co.in before relying on the result.
Shunya doesn't offer home loans, but our CA team can help with related compliance, filings, and financial documentation.
Talk to a CA →What is FOIR and how does it affect my SBI home loan eligibility?
FOIR (Fixed Obligation to Income Ratio) is the share of your monthly income that can go toward all fixed loan repayments combined, including the new home loan EMI. SBI, like most lenders, uses your FOIR to cap how much EMI you can be approved for, which in turn determines your maximum loan amount.
How does SBI calculate home loan eligibility?
Like most banks, SBI's eligibility assessment is broadly based on your income, existing EMI obligations, and an internal FOIR cap, along with credit score, age, and employment type. This calculator uses the same general FOIR-based method, but SBI's exact internal policy and approval criteria aren't publicly disclosed, so treat this as an estimate, not SBI's official calculation.
Where do I check SBI's current home loan interest rate?
Always check sbi.co.in for SBI's latest published home loan interest rates. This calculator does not display or assume any specific SBI rate — enter the current rate yourself so your eligibility estimate reflects real, up-to-date pricing.
Is this exactly what SBI will approve me for?
No — this is an estimate based on income, existing EMIs, and the FOIR and rate you enter. SBI's actual sanctioned amount also depends on your credit score, age, employment type, property valuation, and SBI's specific lending policy at the time of application.
Does this include SBI's processing fees or other charges?
No — this calculator only estimates loan eligibility and EMI based on principal and interest. SBI charges processing fees and other charges separately, which aren't factored into this estimate.
This tool is for quick estimation only and is not a substitute for SBI's own eligibility assessment or professional financial advice. For your specific situation, consult SBI directly or a practicing CA.
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