₹1 crore home loan: EMI is ₹80,559 at SBI's 7.5% starting rate. Here is the salary you need

₹1 crore home loan: EMI is ₹80,559 at SBI's 7.5% starting rate. Here is the salary you need

A ₹1 crore home loan at SBI's 7.5% starting rate means an EMI of about ₹80,559 over 20 years. Lenders' EMI limits put the take-home pay needed at ₹1.6-2 lakh.

Business Today Desk
  • Nov 12, 2026,
  • Updated Nov 12, 2026 2:57 PM IST
Advertisement
  • 1/7

SBI raised its external benchmark lending rate by 25 basis points from 15 October 2026, Business Today reported. Its regular home loans now range from 7.50% to 8.80%, depending on the borrower's profile. We worked out what a ₹1 crore loan costs at these rates, and the take-home pay lenders would look for.

  • 2/7

On a ₹1 crore loan over 20 years, the EMI is about ₹80,559 at 7.5%, ₹85,207 at 8.25% and ₹88,690 at 8.8%. The gap between SBI's lowest and highest rate is about ₹8,100 a month. That is why your credit score, which affects the rate you are offered, matters as much as the headline rate.

  • 3/7

Stretching the loan to 30 years lowers the EMI to about ₹69,921 at 7.5%, ₹75,127 at 8.25% and ₹79,027 at 8.8%. That saves about ₹10,600 a month at 7.5% compared with 20 years. Lenders cap tenure based on your age at the end of the loan, so not every borrower can choose 30 years.

  • 4/7

At 7.5%, total interest on ₹1 crore is about ₹93.3 lakh over 20 years and about ₹1.52 crore over 30 years. The extra 10 years add roughly ₹58 lakh in interest. At 8.8%, the 30-year interest bill rises to about ₹1.84 crore. These figures assume the rate stays the same for the whole loan, which floating rates rarely do.

  • 5/7

Lenders check how much of your monthly income goes to EMIs, called FOIR. Bajaj Finserv says most lenders apply 40-45% for high-value loans, and up to 50% for smaller ones. At SBI's 7.5% rate over 20 years, that means a take-home pay of about ₹1.61 lakh at 50%, ₹1.79 lakh at 45% and ₹2.01 lakh at 40%.

  • 6/7

At 8.8% over 20 years, the take-home pay needed rises to about ₹1.77 lakh at a 50% limit and ₹2.22 lakh at 40%. Over 30 years, it falls to ₹1.58 lakh and ₹1.98 lakh. Existing EMIs on a car or personal loan count against the same limit and reduce what you can borrow.

  • 7/7

Ask the bank for the exact rate it will offer you, not just its range, and whether the loan is linked to the repo-based EBLR. Check your credit score first. Existing borrowers should ask whether the rise will raise the EMI or extend the tenure. These figures assume a single applicant with no other loans.

Advertisement