SBI hikes home loan interest rates: Higher EMI or longer tenure? Costs compared for ₹30, ₹50 lakh and ₹1 crore loans

SBI has raised its benchmark lending rates by 25 bps from 15 October 2026. Find out how the hike could affect EMIs and total interest on ₹30 lakh, ₹50 lakh, ₹80 lakh and ₹1 crore home loans, and how choosing a higher EMI instead of a longer tenure could help reduce borrowing costs.

State Bank of India (SBI) has increased its benchmark lending rates by 25 basis points (bps), raising borrowing costs for home loan customers whose interest rates are linked to these benchmarks.

The revision, effective 15 October 2026, increases the External Benchmark Linked Rate (EBLR) to 8.15% plus the applicable Credit Risk Premium (CRP) and Business Strategy Premium (BSP) from the existing rate of 7.90%.

For existing borrowers, the impact will depend on their loan agreement, outstanding principal, remaining repayment period, and applicable spread. Here's what you need to know.

What are SBI's revised home loan interest rates?

SBI's home loan interest rates vary by loan product and borrower eligibility, including credit score and other applicable conditions. According to the bank's published rate details, effective 15 October 2026, the rates are as follows:

*Source: SBI, Effective from 15 October 2026

The bank states that all home loans are linked to the prevailing EBLR of 8.15%, with applicable premiums and terms determining the final rate for individual borrowers.

How does a 25 bps hike affect your EMI?

According to Bankbazaar data, a borrower with a ₹50 lakh home loan and a 20-year repayment period at an assumed interest rate of 8%. Before the revision, the monthly EMI is approximately ₹41,822. If the rate rises to 8.25% and the original tenure remains unchanged, the EMI increases to approximately ₹42,603.