SBI's 7.5% starting rate puts the EMI on a ₹1 crore home loan at ₹80,559. That's according to reporting by Business Today. The EMI fits a 20-year loan. The report also looks at the salary a borrower needs to qualify.
In simple terms, you'll need a steady monthly income that's well above that EMI. Lenders don't want your loan payments to eat most of your pay. Use our EMI calculator to test your own numbers.
Key takeaways
- The EMI is ₹80,559 on a ₹1 crore loan at 7.5%, as reported.
- 7.5% is a starting rate. Your actual rate may be higher.
- Banks often want total EMIs at 40-50% of your monthly income.
- Over 20 years, you'd pay about ₹93 lakh in interest.
- Existing loans and card dues can cut how much you're offered.
How the home loan EMI works
An EMI is the fixed amount you pay every month. It's called an equated monthly instalment. Each payment covers some interest and some of the loan itself.
In the early years, most of your EMI goes to interest. Over time, more goes to the loan. Three things set your EMI: the loan amount, the interest rate and the number of years.
At 7.5% for 20 years, 240 payments of ₹80,559 add up to about ₹1.93 crore. That means the interest alone is roughly ₹93 lakh.
What salary do you need for a ₹1 crore home loan?
Business Today's piece focuses on this question. We don't have its exact figure, so here's a standing rule of thumb. Banks usually like your total EMIs to stay between 40% and 50% of your take-home income.
The table below shows what that means for an EMI of ₹80,559.
| EMI share of monthly income | Monthly income needed |
|---|---|
| 40% | About ₹2,01,400 |
| 45% | About ₹1,79,000 |
| 50% | About ₹1,61,100 |
The lower the share, the safer your budget feels. A 50% share leaves little room for rent, school fees or a surprise bill.
What a small rate change does
Rates matter a lot on a loan this big. At 8% for 20 years, the same loan has an EMI of about ₹83,600. That's roughly ₹3,000 more every month. Over 20 years, it adds up to about ₹7.4 lakh extra.
Check current offers on our interest rates page before you pick a lender.
Who is affected
First-time buyers and salaried people are the main group. They often look at the lowest rate in the headline. Self-employed borrowers may get a different rate, since lenders check income proof more closely.
If you already pay a car loan or personal loan, your offer may be smaller. The bank counts all those EMIs together.
What to do now
Before you apply, run through this checklist:
- Add up your current monthly EMIs and card payments.
- Check your credit score. A higher score can get you a better rate.
- Test a few loan amounts and tenures on an EMI calculator.
- Compare at least three lenders, not just one.
- Keep some savings aside for the down payment and fees.
You can also read our home loan guides and run an eligibility check to see where you stand.
Frequently asked questions
What is the EMI on a ₹1 crore home loan at 7.5%?
According to Business Today, it's ₹80,559 a month at SBI's 7.5% starting rate. That figure matches a 20-year loan.
What salary do I need for a ₹1 crore home loan?
As a rule of thumb, you'd need about ₹1.6 lakh to ₹2 lakh a month. That keeps your EMI at 40-50% of income. Each bank sets its own limits.
Will I definitely get the 7.5% rate?
No, it's a starting rate. Your credit score, income and loan size can push your rate higher. Ask the bank for your exact offer in writing.
BankCreds analysis
The 7.5% rate is a starting rate, not a promise. Your own rate depends on your credit score, job type and the loan amount. Many borrowers end up a little above the lowest rate. So treat ₹80,559 as the best case, not the likely case.
The salary rule is only a guide
Take a household earning ₹1.7 lakh a month with a ₹15,000 car EMI. A bank adds that EMI to the new one. The total is about ₹95,500, or 56% of income. That's too high for many lenders, even though the salary looks fine.
So the real test is not salary alone. It's salary minus your existing EMIs. Clear small loans and card dues first, and your eligibility can rise more than a pay hike would. Also, a longer tenure lowers the EMI but raises the total interest you pay.
This section is BankCreds' own assessment of what the development means for Indian borrowers and savers. It is independent commentary, not part of the source reporting above.
Source & references
- Business Today — originating report https://www.businesstoday.in/personal-finance/real-estate/photo/rs1-crore-home-loan-emi-is-rs80559-at-sbis-7-5-starting-rate-here-is-the-salary-you-need-567040-2026-11-12
Source links are shown as plain text, not clickable links. Copy a URL into your browser to read the original report.
Editorial note & disclaimer
How this was reported. The development above is attributed to the source or sources listed. BankCreds does not independently verify a third party's reporting; where a figure or a regulatory position is stated as fact, it is either attributed or drawn from the regulator's own published material. Everything under "BankCreds analysis" is our own assessment.
Rates and figures. Interest rates, per-gram values and premium bands quoted here are indicative, move daily, and differ by borrower profile, city and lender policy. Confirm the final number with the institution before you act on it — the sanction letter or policy schedule governs, not a news report.
Not financial advice. This article is general information for an Indian audience. It is not investment, tax, credit or insurance advice, takes no account of your circumstances, and BankCreds is not a lender, broker, distributor or advisor. Consider speaking to a SEBI-registered investment adviser or a qualified professional before acting.
Editorial policy · Fact-checking policy · Corrections policy · Our authors · About BankCreds · Contact us
Spotted an error? Corrections are published, not quietly edited — write to us via the contact page and see our corrections policy.