The EMI for a ₹10 lakh personal loan from SBI at an interest rate of 10.30% p.a. depends on the loan tenure. Below is a table showing EMI amounts for different repayment tenures: 

EMI Calculation for ₹10 Lakh SBI Personal Loan @10.30% Interest Rate: 

Loan Tenure 

EMI (Approx) 

Total Interest 

Total Amount Payable 

1 year 

₹88,055 

₹56,666 

₹10,56,666 

2 years 

₹46,284 

₹1,10,804 

₹11,10,804 

3 years 

₹32,408 

₹1,66,696 

₹11,66,696 

4 years 

₹25,507 

₹2,24,331 

₹12,24,331 

5 years 

₹21,395 

₹2,83,697 

₹12,83,697 

6 years 

₹18,677 

₹3,44,779 

₹13,44,779 

7 years 

₹16,757 

₹4,07,555 

₹14,07,555 

Below is the detailed breakup of EMIs, total interest payable, and total amount payable for tenures ranging from 1 year to 7 years: 

  • For a 1-year loan tenure, your monthly EMI will be approximately ₹88,055. Over 12 months, the total interest you will pay is ₹56,666, making the total repayment amount ₹10,56,666. 

  • For a 2-year tenure, the EMI reduces to about ₹46,284 per month. The total interest paid over 24 months will be ₹1,10,804, with a total repayment of ₹11,10,804. 

  • For a 3-year tenure, your monthly EMI will be approximately ₹32,408. You will pay a total interest of ₹1,66,696, and the total repayment amount will be ₹11,66,696. 

  • For a 4-year tenure, the EMI further decreases to around ₹25,507 per month. The total interest payable during this period will be ₹2,24,331, making your total repayment ₹12,24,331. 

  • For a 5-year tenure, the monthly EMI will be approximately ₹21,395. Over 60 months, the total interest paid will be ₹2,83,697, with a total repayment of ₹12,83,697. 

  • For a 6-year tenure, the EMI will reduce to roughly ₹18,677 per month. You will pay ₹3,44,779 as total interest over the loan tenure, resulting in a total repayment amount of ₹13,44,779. 

  • For a 7-year tenure, your EMI will be about ₹16,757 monthly. The total interest payable will be ₹4,07,555, and the overall amount you will repay is ₹14,07,555. 

How is EMI Calculated? 

EMI is calculated using this formula: 
EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1] 

Where: 

  • P = Principal Loan Amount 

  • R = Monthly Interest Rate (Annual rate ÷ 12 ÷ 100) 

  • N = Loan Tenure in Months 

SBI Personal Loan Key Highlights 

  • Loan Amount: ₹1 lakh to ₹35 lakh 

  • Interest Rate: Starts from 10.30% p.a. (depends on credit profile) 

  • Tenure: Up to 7 years 

  • Processing Fee: Up to 1.50% of the loan amount + GST 

  • Prepayment Charges: Nil after 6 EMIs 

For a ₹10 lakh personal loan at 10.30% interest from SBI, your monthly EMI will range from ₹88,055 (for 1 year) down to ₹16,034 (for 7 years). Choosing the right tenure depends on your monthly cash flow and how much total interest cost you are willing to bear.