How to Pay SBI Loan EMI Online

Pay SBI Loan EMI Online – Walkthrough for Re-Payment and Pre-Payment

When people are busy with their schedules, physically visiting a bank to repay or prepay a loan can be a tedious job. This tutorial will guide you how you can pay sbi loan EMI online easily with Internet Banking through online NEFT Transfer. A very easy and simple process. This is currently applicable only if you have an Online SBI Account.

Paying SBI Loan Online with Online SBI

Imagine a situation when you are somewhere outside of your hometown. Else, you are busy somewhere, sometime due to work and your busy routine. Due to which you aren’t able to go to the branch every time to pay your EMI. In any case, we live in a busy world, it’s not always possible to visit your bank branch to carry out transactions, or even just to get any information.
Currently, India is slowly moving towards digitization, and gradually even our banks have started to make banking digitalized.

Most of us can experience such scenario from above or some kind of similar situation.

Thankfully SBI has provided its loan borrowers with a facility; To Pay their SBI Loan EMI online in case if they missed it or if they (borrowers) want to pre-pay some amount. 

Loan Borrowers can use, the internet banking platform provided by State Bank of India which facilitate the ability to pay loan EMI online. This facility involves payment through NEFT from a savings account to the credit of loan account.

Users will require having their loan account mapped to there online banking account or customer id if not already done.

The method is pre-paying the loan by adding your LOAN account as third-party account and then doing a normal NEFT transfer.

In short, you will be linking your loan account to your saving’s bank account. Then, you can use NEFT through internet banking for paying loan amount conveniently anytime, anywhere.


Step 1: Link your loan account to your SBI Bank account.

One big reason, why you should connect your loan account for prepaying your home loan or another kind of loans is because; at times we get some spare cash in our life through bonus or some other reason, but because prepayment needs some effort and physically going to bank takes away our excitement and all that money finds its way to some other expenses which could have been avoided.

This has been confirmed via official sources and even other SBI customers; that a LOAN account can be added to a third-party account in your online banking account and you can do a NEFT transfer to your loan account. This is a simple and powerful way of pre-paying your home loan or any other kind of loan because it’s at your fingertips and you don’t have to delay the decision of prepaying your loan just because of inconvenience caused by visiting the bank.

Steps of adding your Loan Account to your Online Banking account

1. Make sure you have internet banking enabled and the branch where you hold the loan account also accepts the online payments (mostly this is always true).

2. Just like you add a third-party account, in the same manner, add your loan account as third-party account so that you can make the NEFT payment later. Once the account gets added, you should be able to see it as one of the added accounts.

Home loan payment online using NEFT

3. Once the account gets added, you can then make the payments to your loan account, it would be considered as your pre-payment.

Step 2. Now you can pay it via NEFT.


Some things to know about home loan prepayment online
  • Note that this home loan prepayment online through NEFT should be possible for all kind of loans, not the just home loan.
  • Why only pre-payment, you can also pay your regular EMI’s using online options instead of post-dated cheques. So ask your bank to allow/enable this option.
  • It might happen that this does not work in some banks. But we have seen 3 confirmations from different readers for 3 different banks, so mostly this should work on all the banks.
  • If you have a bank account and loan account in the same bank, it should be a more easy process of just linking the accounts, ask your bank on this to guide you.

So If you have a home loan, you should definitely explore the idea of connecting your loan account with your bank account so that whenever you have some spare amount, you can quickly do home loan pre-payment the loan by a click of the button, otherwise, that “extra” cash can evaporate very soon. Are you going to do this?

Try it out and let us know in comments section if home loan prepayment worked for you through NEFT.

Some Important Information Related to Above

For SBI Home Loan Maxigain Customers:

Even if you pay to your Home loan account as NEFT it will park your money in MaxiGain Account(loan account) because MaxiGain Loan account is OverDraft account, payment .hence it will deposit in your account but not payment.You can see your principal amount will be reduced by your payment but you can not claim this amount in 80C of income tax as this amount will be treated as Parked amount but not pre-part payment.

Hope this will help with other maxigain holders.

  • There is a Minimum amount one can Pay as Pre-Payment for a Home loan or another loan? Will Bank accept if I just Pay Rs.100 Today?

    Answer: Most of the banks put a limit of 3X of your EMI as the minimum prepayment. Check with your bank if other than SBI.

  • Two situations that can occur when you pre-pay some amount towards EMI.

    1) Bank will not deduct EMI or will deduct lower EMI considering your pre-payment as a part EMI (Default option)

    2) Bank will deduct EMI irrespective of the amount you paid as an extra payment. (You have to instruct the bank to do this.)

  • Scenario – 1:-If you are doing some extra payment other than EMI then SBI by default won’t deduct the EMI. This has happened to one of my friends where he paid 50% of the loan amount as a prepayment and now the bank is not deducting any EMI from his account from last 4 years (But accumulating the interest in loan account).In my opinion, this is a bad option. Because this option actually does not help you to shorten the duration.You have to explicitly ask SBI to deduct your EMI through ECS irrespective of your pre-payment.
  • Scenario – 2:-This is what I am doing with my SBI Home Loan. I am paying a little amount to say 3000 to 5000 per month over and above the EMI and it is not in multiple of my EMI. I am transferring this amount through NEFT. It goes towards principal and I can check it online in my loan account.

    Now here we may have a doubt. Whether the amount I am paying extra every month goes to principal and actually helping me to reduce my tenure?
    The answer is YES.The amount which I am paying extra is getting reflected in the loan statement which bank is giving at the end of the fiscal year. There I can see my ‘extra’ amount paid in ‘Principal amount repaid’. So it is confirmed. PS: I have never informed SBI about my extra payment every month. I just informed them to deduct my EMI irrespective of my extra payment.Hope this may help someone to reduce his/her home loan duration.

Thanks for reading this article and visiting SBI Tutorials. We hope we provided useful information to you. If you have any questions or face any problems regarding Paying EMI Loan Online, just ask us in the comments below.

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107 thoughts on “How to Pay SBI Loan EMI Online”

  1. Hi,
    Thanks for the information. i just had one scenario in one mind.

    suppose my emi date is on 10th of every month (say emi of 14000 per month), on 4th of one month i manually transfer 15k to the loan account. now on 10th again my emi will be deducted? what can i do to avoid this, by mistake i transfered it manually. Please help at the earliest.

    • Sorry for the wait, Thanks for reaching out. As you said, your EMI Date is on 10th of every month, and you did a manual transfer of 15k to your loan account, that’s good to know.

      But The thing is it will be not be deducted again as when you were paying back to your loan account, you were paying against the EMI and not the total loan and according to this article if you read up in the last clauses, There are two situation occurs when you pre-pay some amount towards EMI. Please go through Scenario 1 and you will understand that you won’t have to pay again, as this is the default option, however, please confirm it with your loan branch once.

      We advise you to do so as quickly as possible.

  2. Today ( 1/08/16) ,I tried to make online payment of housing loan through e-corner of sbi located at m.g.Marg gangtok without using ATM card.
    I am sorry to say that despite several attempt by your staff deputed at e- corner , it was not accepted by the machine.
    As such I reported to it to the sbi office located on same building , and ( manager)he came down to confirm it from the staff . Staff informed him that machine didnot accept thr cash.
    Finally manager told me that since this is loan account ,you cannot make payment from here.

    Please let me know ,what is the use of e- corner . is it not possible to make online payment of housing loan from e- corner.

    • With E-corner (You will find multiple self-service facilities like ATM, CDM, KIOSK etc. at one place). No, you can’t pay for loan accounts with eCorners, rather like CDM ( Cash Deposit Machine ) you can use it to deposit cash in your account or in accounts of others. If you wish to pay for your loan account, you can do so via internet banking, by link your loan account to your savings account.

  3. Hi, I wish to prepay my car loan outstanding amount in full. I am presently traveling out of India, can I make a NEFT payment through nre account of other bank or can a relative drop a cheque at the branch from where I had taken the loan. How do I confirm the principal amount due. Kindly advice, thank you

    • You can ask the helpline number to look up for you.

      If you have the details of the Branch where you have taken the loan, ask them, they might clear your queries as if you are outside India.

      Usually you could pay via net banking from your own account.

      But when it comes to NRI account of Other Bank, I doubt that’s feasible.

      However I won’t suggest you to do anything without confirming with SBI officials first.

      Repaying loan is a sensitive matter so be careful when choosing the mode of payment.

      Hence, I advice you to contact your branch before taking any action.

  4. Hi,

    What will be the payee account name for NEFT transaction while adding payee, I been calling SBI for the last 2 days and none are able to help 🙁

  5. Hi i have taken the home loan last month and the bank informed me that regarding first emi i have to pay through NEFT. in my online account page i have identified two new account number is added. one is OD and another one is loan account. to which account i have to pay the emi of my home loan.

  6. My EMI date is 15 of each month for my SBI Max Gain Home loan. EMI si 27400. It is deducted through an ECS from my ICICI Bank account. This month, I have trasnferred 1 Lakh rupees to my SBI MaX Gain Loan Account on 4th January. Now till today – 17th Januray, they haven’t deducted my regular EMI from my ICICI account through ECS. What could be the reson ?
    When I see my SBI Home Loan A/c online, I see that they have reduced the “book balance” from -28L to -27L. And increased “Available balance” from 0.9L to 1.9 L.
    Please help me understand.

    • It good to know that you are attentive regarding payments related to your loan. According to what you say, it might have been that they have adjusted the deduction from the amount you had transferred.

      This is the most probable scenario, however, it is also possible that sometimes due to technical problems or some other problems the deduction was not done. Hence we request you to reach out to your Loan Manager and clarify the information regarding this.

      You don’t need to worry, but please do clarify this to your loan manager so that there won’t be any problems in future.

  7. Hi,
    I have adoubt. How to repay the principal of home loan if I’m having a maxigain loan account. If I transfer thru NEFT to my loan account, then it will be parked as a OD.

  8. Hi,
    Could you guys please let me know if there is a way to pay my SBI Home Loan through Credit Card ??? I want to do it by Credit Card only. Other ways I know. Please reply soon. This is urgent.

    • The only way by which you can pay your SBI Home Loan through your credit card is by withdrawing Cash from your Credit Card and paying it through NEFT (online banking) or check against your home loan, you can’t directly pay your home loan from your sbi credit card. Though we don’t recommend that!

      • thanks Ashish that I knew already. But that is pathetic and bullshit because in this world of technology there is no billdesk/payment gateway to pay your loans also. That is why private banks are booming as they provide lot of facility. SBI sucks.

        • Not all private bank do provide such service. Well, I do agree with the fact that SBI can provide such services like other channels to pay your Loans. However, there are just so many policies and loose ends to keep in check. That’s why Indian Banks lack approach tech slowly. Even if they implement the bleeding edge tech and provide service, security, and internal policies need to be revised thoroughly.

          Banks usually may allow customers pay for small loans through credit cards, like Bike loans or any other kind of loan up to a small amount (card transfer included).

          However large loans like home loans involve real and huge amount. Banks are willing to accept check, debit, or transfer against your loans with keeping in mind that there is a flow of money; whereas when you would like to use your credit card, not only you are increasing your credit burden and relying on credit more, but you are making using of virtual money that isn’t yours right that time, it’s just you are borrowing more from the system without having any actual money to pay your loans.

          That creates a scarcity of credit in the system and doesn’t promote the use of actual money.

          You may see that as a benefit, but on the long run, it may cause you serious credit problems.

          This is something that economist, RBI, and banks decide up. There is always money involved somewhere.

          Like you said there is no billdesk/payment gateway to pay your loans, well for small time credit application like credit cards, billdesk is available, but that isn’t viable for larger loans, are you willing to pay more for availing such facility. Payment gateways aren’t part of the bank, and they are a whole other entirely, and they charge for every processed transaction that you would make.

          Take example IRCTC, when you book a railway ticket you are charged additionally for using a payment gateway.

          That way would you like to pay even a little sum extra for having the payment gateway facilitated to you, well you might agree but others wouldn’t.

          Hope you get it, but feel free to comment if you have any thoughts about all these. 🙂

          • My god!!! You could write a book… i just wanted to pay this month’s EMI along with some additional charges for revising my Home Loan Interest Rate and as I am switching jobs I do not have enough cash this month… thats it… It isn’t a huge amount… maybe they could have a POS machine at the branch where my loan account is…. I read on this forum about e-corner… I don’t know what that is exactly but something like that could help in such situations… Anyways I will withdraw money from my credit card which will also be virtual money eventually as I will be taking “Credit” via my credit card.

            Thank You Very Much

          • Apologies! 😀 But that true for situations like that credit cards are really useful. But it’s the RBI and Banks who have not allowed the customers or borrowers to pay through such channels.

            Wish they did accept loan payments trough POS machines, it could have helped those who are in tough situations and can’t pay with cash. What you said is a valid reasoning, but it’s unlikely for banks to follow up with this.

            Yes, when you withdraw From your CC you are taking credit, that’s why it comes with so many charges.

            Sadly though our govt is pushing things hard for a digital revolution, sectors like a bank and other service providers are yet to implement a lot of things.

            However, I would like to add that if in future such facility is provided by SBI, we will ASAP update it on our blog about it.


    • Link your Car loan account to your sbi account and have internet banking facility. Then you can pay your loan anytime anywhere via NEFT facility.
      You can also prepay the loan to save on interest.

  9. Hello ,

    My car loan account is active and i have paid all my EMI’s , still some 3k is outstanding it seems, i called SBI brach several times and no on responds . can i pay the outstanding car loan from CITI bank NEFT ?

    • If you are saying that you have paid all your EMI’s, we request you to physically contact the branch and the loan department to find out any prior details. Post confirmation and if there is any due really left, then only we advise you to pay the loan, otherwise, don’t.

      You can also mail for getting the details from the customer support, however calling the loan manager of the branch from where you took the loan will be much faster.


  10. Hi,
    My loan emi is deducted from my salary account every month but if i want to pay extra amount, whom i have to contact? Is it can be done by any other online option?

    • You can pay any amount of the loan with NEFT if it’s linked to you SBI account if it isn’t linked you can link by contacting your branch. You can also pay extra amount via cash or check option.
      However, the only online option is you can pay it via NEFT.

  11. I want to pay to few amount to my loan account of SBI education loan. I want to pay through other bank’s NEFT/IMPS but directly to loan account not using my normal SBI account.

    I have tried using Union Bank, I added my loan account as beneficiary to union bank but I am not able to transfer to my loan account of SBI education loan.
    Can it be possible to transfer few amount through NEFT/IMPS from other bank (I am not saying about EMI) ?
    can u give some suggestion for paying amount through other bank(online or any other)?

    • You can pay through NEFT but not IMPS, as IMPS is not supported. Well, we are yet to confirm that you can pay from other bank or not. We have to wait for an official confirmation and information about the exact procedure if it’s allowed.


      • So, you are not sure it’s allowed or not?
        can u give some suggestion for paying amount through other bank(online or any other)?

        • Yes, we are not sure, as most of the SBI customer have an sbi bank account and they link it to their loan account, by that they use any funds in that account to directly any amount using NEFT as a pre available option.

          Note: After linking loan account to your SBI account, you don’t have a manually add a beneficiary, like normally we ought to do. So the fastest and easiest way for paying online through NEFT is by linking your loan account to your sbi account and paying with it.

          You can issue a check, but right now paying through online means by other banks seems not possible.

          If it comes to our knowledge and we get the know the exact procedure for paying through NEFT from other banks, would post it on our site.


  12. I had paid extra amount (more than my emi) to my home loan account about a month back. This month, my emi date was 5th and I missed it somehow. Will this be considered as a non-payment of emi or will they just deduct it from the extra amount i payed last month?

    • Hi Shruti, its good to know that you paid an extra amount, that helps in reducing the principal amount to be paid back and save on interest.

      Let me provide you a straight answer.
      The fact that you missed the payment of EMI, will be considered as a non-payment.
      They money won’t be deducted from the extra payment you did.
      Because that will be adjusted against the total money you have to pay back.

      However, you can ask your loan manager more about this and see that if he can help you regarding this matter. Because you did pay early, it is possible to get some help regarding this matter.


  13. I missed my EMI due to shortage of funds for few hours today and SBI promptly deducted the penalty without any intimation. Is there anyway for me to repay EMI for this month online and the tag of EMI defaulter?

    • Sad to say, No there isn’t anyway.

      Let me give you a brief explanation regarding this.
      When you set monthly auto deduction in your account your account; Every month payment collection is run from SBI, which is Automated.

      You can’t pay the EMI Manually. Once you have missed the EMI Deduction, you ought to be listed as a defaulter as knowingly you are already made aware and have signed an agreement that you will keep your account in good standing and with enough funds so that EMI is deducted successfully.

      When you fail to comply with that you will be penalized and regarded as a defaulter.

      However, before the payment or collection run (EMI collection cycle ) you can choose to pre-pay some amount to get a leave for few months.

      In this case, sad to say you have defaulted and you will be penalized and tagged as a defaulter.

      However this also is from cases to case basis, what you can do now is approach your loan manager and discuss on this matter. If it’s possible he can waive the penalty, but that does depend on case to case basis.

  14. Hi Ashish, So this month EMI they will deduct next month? or what should I do know to make my record clean? I have the money now to pay…

    • Please approach the bank as soon as possible tomorrow and talk with your loan manager, it might be that you don’t have to pay any fine, but that depends on the situation and policies.


      • Ashish, we have taken a car loan in name of my wife from sbi.
        Please let me know if bank will accept the cheque from husband’s single holding account

  15. HI Ashish,

    I have taken a Car Loan from SBI and my EMI is debit from my HDFC salary account.
    I have missed my EMI this month due to shortage of Fund in my HDFC account.

    Is it possible to pay the missed EMI along with interest though my non SBI account via NEFT.

    how to know how is the interest?

    I am far away from my SBI Car loan account branch? what are suitable steps I can take now.

    please Help me.. thanks in advance

    • Sorry for the delay. As per your query that you mentioned.

      You missed the EMI due shortage of funds in your HDFC Salary account.

      Due to the fact that you missed the EMI payment it will be reflected in your CIBIL Report, however you can contact any nearby SBI Branch and talk to the loan department for any possible actions by your side, like paying the missed EMI with any fines, however this depends on several factors and as every case and borrower portfolio is different you have to get it discussed first.

      So I suggest you, visit a nearby SBI branch and contact the loan department there in regards to your loan account.

      Plus you can also reach your loan account manager of your original branch through phone too.


  16. Hello sir,
    I have been taken a personal loan from sbi& Another personal loan from an employees’ co-operative society. My ECSdate for both loan is first of every month &it is from my salary account. Now i am in leave with out allowance for two months for an ayurvefictreatment. So I missed the ecs date for two months. Unfortunately i am not in a financial condition to clear the due manually… Sir may i know… Will SBI charge all these four due ecs along with the normal ecs in next month?If yes, can i submit any application to avoid charging all these ecs together in the concerned sbi branch..sir, please give me valuable direction to solve this situation..

  17. Such a great post! Thank you 🙂

    Could you please help me with this query – I have a SBH car loan and bank accounts only in ICICI, HDFC and Canara.. Can I pay from these banks by adding loan account as a beneficiary and transferring through NEFT?

  18. Hi i have 2 queries
    1) how do i credit my house loan account from other bank account.
    2) by my SBI online house loan account , how do i pay the emi by using other bank account

  19. Hi Ashish, In my SBI Home Loan Account – despite paying up the EMI every month manually – the interest amount is calculated and debited – is that usual.

    Secondly, If I need to pre-pay a significant amount – shld I NEFT or reach out to the Branch to do the same.

    Please suggest! Thanks!!

    • Greetings Sachin! Yes, that’s quite normal, Usually, every EMI that you have has a fixed amount and an interest amount debited from that fixed amount.

      If you wish to pre-pay a significant amount, first link your SBI Loan account to your savings bank account, so that it would come up in Online SBI, then reach out to the branch before your first transaction to get any specific details and fees or procedure according to the type of ur loan.

      Then make the first payment through NEFT, and afterward, you can pay any additional amount through NEFT to lower the amount of your loan.


  20. HI Ashish, Hope you’re well… My friend borrowed some amount last month for his personal exp., last day he ask me to return the amount by transfer using his federal bank account. Then
    I given my home SBI home loan account & he did transfer using NEFT by his bank account to settle interest with some additional amount.
    till now i didn’t get any credit to my SBI home loan., Please advise me is there any problem?? or will credit??

    • Greetings, You can pay Car Loan EMI with check and cash, as you don’t have an SBI savings account. If you had or create an SBI Account its easy to do an online transaction from you SB account to your loan account.

  21. Hi Ashish,

    I have been using the online sbi. Recently(1month) we have opened a loan account with sbi, but the same loan account statement is not visble, when i log in. Please help.


    • Hi, Pradeep.

      You are requested to go to your loan branch and ask them to link it with your savings account properly.

      Also please know that there’s a new version of Online SBI available (interface update). You can try in that and look for the statement there.


  22. Hey Ashish,

    I have to start paying the EMI of my education loan which I have taken from SBI. However, my salary account is of HDFC. Could you please explain me the easiest way to link these accounts for automatic/manualEMI deductions every month.

    Will be really helpful if you can reply early as I am completely clueless regarding this.

    Thanks ,

  23. HI Ashish,
    can i transferred amount directly from my ICICI saving account to SBI loan account instead to SBI saving account and how much amount per day i can deposit into SBI loan account.


  24. It’s more then one month SBI branch oficials making me run city to city as they don’t have ediquate information .
    I have a car loan and EMIs are paid Monthly through hdfc bank account .
    I want yo pre pay the amount but i am not able to see the status of my car loan account online . I have been suggested to open a SBI saving account which i have opened in a different branch because i got transferred from the location where i have my car loan . Now SBI staff of both branch behaving like they don’t know about the process at all whether such kind of services exits or telling me to go to the branch where i have my car loan account ( 300 KM away ) when approached the car loan branch they said contact Saving branch account .
    They are living a lovely life and making life hell for customer
    Very poor staff
    Sorry for my words if i hurt anyone but being a customer feeling like a curse .

  25. I have got a car loan from SBI. EMI starts from 5th of this month. Hope that will be auto debited from my SBI savings account. But from 1st of this months, i am getting reminder sms to pay the emi on or before due date. How i can pay the EMI. I have opted for auto debit and then why bank asking me to pay. What will be the mode of payment. please clarify

    • SBI provides one of the best car loans at ease. As you have set the auto debit option form your SBI Savings account; it will obviously get deducted from your account; make sure you have the required funds in your account.

      The SMS that you mentioned is just the formality or a reminder; you don’t have to do anything; the EMI will be automatically deducted.

      Most banks send a simple reminder; you don’t have to do anything; as 5th of November was Sunday; it will probably get ducted today or tomorrow. If deduction doesn’t happen by 10th of this month; visit your branch and loan manager for more details.

      But you probably won’t have to do that; as it will get automatically deducted.

      Hope I clarified your query.

  26. I am having a sbi home loan account and savings account of SBI only, with auto debit facility on 2nd of every month. I want to prepay/ pay additionaly my home loan by random contributions every month. The problem with me is that my online banking facility has some technical problem and I can never use it however i am using SBI freedom app for imps facility. Can i add my loan account in SBI freedom app for making transfer of amounts towards home loan account??
    Pls help.

  27. I have taken personal loan of 3 lakhs rupees in 2013. According to documents I received ,EMI deduction was fixed till 1 June 2018 but my EMI deduction is stopped in Dec 2017 .
    Sir please help me and let me know why this happened.what should I do now .

  28. Hi Sir/Madam,

    Currently I am outside India. Could you please let me know whether I can close the home loan by prepaying the whole amount online? And then do the paperwork once I come to India. Please suggest and confirm.

    • I suggest you to talk to your loan branch manager over email or call regarding this matter. However by prepaying the whole amount you are saving a lot of interests that might have been charged.

      My suggestion would be instead of paying up the whole amount, pay an amount upto the last EMI or near the last EMI amount.

      If you were still expecting more information, leave a message and we will get back to you.

  29. Hello sir,
    I have taken education loan and my SBI home branch is in the city from where I got my education. After completing my degree I moved to another city. My loan account is linked with my primary account. So for my repayment I have not created any EMI system from my home branch what I did is, I started repayment from onlinesbi. In onlinesbi there is an option FUND TRANSFER (OWN SBI AC) in FUND TRANSFER section. So is it ok to repay with this method or I have to go for create EMI from home branch and then start repayment?

    • Greetings Pravesh, I’ve received your query regarding pre-payment, are you still up with this query or have gotten in solved?
      If you are still curious, I’ll clarify your doubt. Hence leave us a reply when you see my comment.


    • Greetings, I understand that you have started paying using the Fund transfer method in the Fund Transfer section from Online SBI. Yes, for now, its okay to go on with this method.

      Education Loan being common these days, its advisable to pay it on time; as it will help you to maintain your very important credit score.

      However, I advise to go and create an EMI from the home branch and then start the repayment, if you are able to to that.

      According to what you said, I believe the tenure of repayment has not yet started; so you are currently prepaying the amount.

      Hence there can be charges involved.

      I assume you are busy right now if you have a job.

      What you can do is if you live in another city and will be living there for a long time,
      I suggest you to move your loan to your nearest SBI branch, that will be more beneficial for you.

      Other than that, you can also inquire about your loan by visiting any SBI branch, which has a loan department.

      Hope that clarifies your query.

  30. Thanks sir
    Actually, the tenure of repayment has been started from January and I started repayment from January itself. How I know that repayment is started because I got the text message from SBI in starting of the month (JAN and FEB) stating that “Your EMI due date is dd/mm/yyyy, pay on the time”. So with this method interest will be according to remaining balance or whole balance?

  31. Hi
    My account didn’t have sufficient amount for emi deduction so it got skipped. Now whatever amount I am transferring to the savings account from other bank, the balance shows zero.
    Last transaction option shows the amount transferred but overall amount is zero

    • Greetings Kartik,

      As you stated that due to insufficient balance your EMI deduction bounced. We assume that you have a loan from SBI. So now whatever the amount you’re transferring to the savings accounts from other bank isn’t showing in.
      That means that the EMI amount has been marked as Lien. So we request you to urgently contact the loan branch, pay the EMI; and ask them to remove the lien on your account. After that, you may be able to access your savings account fund. This is a general practice by all bank, however, I believe you should be informed at least before marking your account lien. You can check from Internet Banking if your account is marked lien or not.

  32. Hello!
    My father’s sbi loan account interest increased from 11.85% to 16.65% and emi increased from 42300 to 46000 from one month and again its taking 42300 as emi but interest rate remained same as 16.65%. What are the reason for increase in rates?
    Is there any bank credit factor evolved in it?
    And why there’s a huge difference in it
    C. Y.YTD interest 211009
    P.Y.YTD interest 124706

  33. Hi Sir,
    I have SBI home loan and last month i transferred 50k amt to loan account.EMI 40k deducting as usual.
    My doubt, was the extra amt 50k I paid deducted from principle and tenure will reduce automatically? Or wil the 50k considered as extra EMI with interest?
    Why we have to go to bank all the time to check remaining tenure?is there any option to check online?
    Thanks and regards.

  34. Hi Ashish,
    I have adoubt. How to repay the principal of home loan if I’m having a SBI Yuva HL maxigain loan account. If I transfer from SBI saving account to my loan account through NEFT, then will it be parked as OD or will it be deducted from the principle.
    The regular EMI has been deducting through ECR by 5th of every month.

    I came to know in the above discussion that even if we pay extra amount through NEFT for SBI Maxigain loan account, the amount will be parked and not deducting from principle. Then do I need to submit the cheque against HL in the bank after accumulating some decent amount?

  35. Hi,
    Is there anyway i can check what is the EMI due for my housing loan from SBI online portal ?
    Is there anyway i can check what is amount irregular on my Loan account from SBI online portal. Got a sms from SBI about account irregular. But no way, i can see any EMI due or failure transaction details in sbi portal (Online account).

    Please help if this information is available in SBI portal.

  36. How to access SBI Home loan account online. I don’t have SBI savings account however took a home loan from SBI. Please help with details. Thanks

    • For accessing SBI Home Loan Account Online, you need to have an SBI Saving Account. Get one, it’s easy to open these days and can be done quite fast if you have most required documents. After opening accounting, you have to ask the bank to link your loan account to your savings bank account.


  38. hi i have mistakenly transfer money to my SBI car loan account from ICIC bank account via IMPS,can i get money back automatically or i need to visit bank.i need to go ICICI ?or SBI car loan given branch.

    • First, visit SBI branch and inform them about this, you might have the IMPS reference number. Quote that transaction number to SBI and tell them to refund that transaction as soon as possible. Post that if the IMPS was not successful, and it is possible it wasn’t credited to the SBI Loan account as loan account dont take credits via IMPS and still in the system, contact ICICI bank branch and ask them to cancel the transaction and get your refund.

      Post that for crediting your SBI loan account, use NEFT.

  39. Hi,
    I have taken SBI care loan last month. I have SBI Savings account and car loan account linked in my netbanking.
    I have asked my loan manager about the ECS date and he told me 12th May is your first EMI date but till date no EMI debited from my account.
    Is there any way we can get a Repayment Schedule using netbanking? Also is there any way i can check the ECS is registered or not using netbanking?

    Kaushik Patel

    • Right now there’s no such feature present currently. However, you raised up a good concern that can be given as a feedback.
      For your problem you have to check up with the branch manager, kindly be a little persistence and ask up to resolute your concerns as late payment might result in lowering of Credit Score and the bank is at fault here. However, it will also be your responsibility to actively check stuff and inform the bank.

      So right now contact where you took the loan.

  40. HI Ashish,
    Such a great post..:)

    I have SBI home loan at Bangalore. Now I have moved to UK for 2 years.
    I want to do NEFT transfer to my loan account from my SBI savings account.

    Here are my questions in short.
    1. Is there any time period, after that only Loan pre-payment can be done?
    2. Will that additional amount be credited to my principal amount.
    3.Can the additional amount paid reflects in Loan account on internet banking?


    • Sorry for the delay Mohan, I had my server down for maintenance.

      For your queries, here are the answers.

      1. Yes, generally bank might have relayed you the terms that when you can start making pre-payments and what will the pre-payment charges if any. You can contact the branch manager over email or call to get exact information upon this and what terms and conditions are applicable to you. Usually, Loans can be pre-payed after some fixed time.

      2. The additional amount will be credited to your loan amount and the principal amount will get a decrease.

      3. Yes, the additional amounts paid will reflect in the loan account on Internet Banking.

      Hope this helps. 🙂

  41. Hi,

    I am having a SBI home loan to whom, all EMIs are in progress monthly. I want to re-pay some amount of money to that loan account in PRINCIPAL. So if I will do a NEFT/RTGS/IMPS transfer to that loan account, then will it deduct the money from PRINCIPAL by-default? If not, is there any other way to do so online. I do not want to go to bank, trying to do so online. Request you to clear that doubt. Thanks a lot.


  42. Hello,

    I have just a loan account with SBI (no savings/current account). I want to prepay some amount via NEFT/RTGS from Axis bank. Could you let me know how it is possible?


  43. Hi,

    How can I make pay the EMI / pending amount if I do not have an account with SBI? Is that possible? Please help, thanks in anticipation

    • Its very easy to do that, just link your education loan profile to your savings account online. This can be done via writing an application to your branch.
      Once that’s done, your loan account will show up in your internet banking portal, that’s Online SBI.

      You can credit any amount anytime to that loan account then.

    • Greetings Raju!

      If you have Internet Banking enabled, you can do so very easily. Just link your loan account to your internet banking services and done. You can pay any additional surplus to that loan account. However, note that you cannot pay your EMI through online.

  44. Hi,

    I have an SBI Maxgain home loan with an EMI of Rs.90,000.

    I receive my salary on 31st of every month. I want to put my entire salary immediately into the OD a/c for maximum benefits and withdraw from it later as per my need.

    Interest for the month is debited from the Maxgain OD account on the 31st of every month. And the EMI is credited to the OD on the EMI date. My EMI date is on 5th of every month, which is the earliest that SBI is able to offer (I checked).

    Hence for 5 days, just waiting for the EMI ECS to happen, I am forced to hold back at least Rs.90,000 in my salary a/c, which is an SB a/c with Axis Bank. In absolute terms, I lose Rs.15.29 a day for this which is Rs.76.44 over 5 days due to the interest rate difference of my Axis bank SB a/c (4%) and the Maxgain OD account (10.2%).

    My calculation above is based on the fact that if I had transferred that Rs.90,000 to my Maxgain OD account on 31st of every month, the end of day balance (which is used to calculate the monthly interest) would be higher by Rs.90,000 for 5 days from 1st to 5th.

    This same story repeats every month.

    Is it possible at all to have the EMI ECS from my SBI Maxgain OD a/c itself? I know this sounds sort of crazy since it would actually mean ECS from the OD account to the same OD account. Just I wanted to check is this is possible since it is possible for me to use my OD account as a normal SB account in all other cases, for example, issue cheques, have my mobile bill ECS from my Maxgain OD account, etc.

    I understand that Rs.76.44 may not be a big amount. But I don’t want to lose Rs.76.44 every month for the entire duration of my loan.

    One solution that I have tried is to transfer the entire salary to my OD account on 31st and again transfer Rs.90,000 back to my Axis SB account on 4th just for the EMI ECS debit back to my Maxgain a/c the next day. But this seems complicated. There should be a simpler solution.

    Let me know if you can suggest any other solution for this problem.

  45. I have both Savings as well as Home Loan (Max gain) account with SBI. When i do a (Intra account transfer) transfer from Savings account to Home Loan Max gain account for extra payment of Principal, it actually accumulates there but does not hit the total Principal amount. I do not understand why SBI as made this process so complex. The worst part is when I have actually went to the SBI Branch and instructed them to actually reduce the Principal (cheque payment), still it is not reducing the Principal. This is very troublesome and requires multiple follow up. All other banks have made this process easy but with SBI it is unattended. If someone could put up the steps for the whole thing, it would be appreciated.

  46. I have availed a home loan from SBI and at the signing of the Agreement they have told that the EMI will be auto debited from my SBI savings bank account. EMI for the month of November and December not debited and in Jan they have deducted two months EMI together. And in Feb month they have levied an additional charge in excess of EMI amount. Why is this happened. I already had amounts available in my Savings bank account, and why the EMI was not deducted. Is there a way to recover the additional charge collected from me.

  47. Hi, I have availed a Home loan from SBI and at the time of signing the Agreement we were informed that auto debit is set from my SBI savings account. But EMI for November and December is not deducted and total of these two EMI are deducted on January month. On February an additional amount also deducted than actual EMI. Why is it so? I had sufficient balance in my Savings account, but the EMI were not deducted. Default was due to the bank side only, then why we were charged an extra amount. How could we recover that additional charge. Pls advice

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