SBI Home Loan Insurance Premium Calculator

Taking a home loan is a long term financial commitment, and protecting your family against the burden of having to pay off the loan is just as important as planning the repayment. SBI home loan insurance is designed to make sure that your family does not struggle with loan repayments in case of your unexpected demise. Let us take a look at how the SBI home loan insurance premium calculator works, how SBI customers can check premiums, and its loan against policy process.

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What Is SBI Home Loan Insurance?

SBI home loan insurance, also called a home loan protection plan, is a policy that covers the family against the outstanding home loan amount in case of the borrower’s death. With this plan, the burden of loan repayment is relieved from your family and instead the insurer pays the remaining amount. This cover is usually linked to your home loan tenure and reduces over time as the loan balance comes down.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

How Does Home Loan Insurance Work for SBI Customers?

Here is how home loan insurance works for SBI customers. Home loan insurance works along the loan repayment schedule.

The insurance cover starts with the loan amount approximately equal to the cover amount.
On regular repayment of EMIs your loan amount will decrease, and so will the insurance cover amount.
In the event of your untimely death during the repayment tenure, the insurer will pay the remaining amount directly to SBI Life insurance company.
Your family can now live peacefully in their home without worrying about the EMIs.

SBI Home Loan Insurance Premium Calculator

The SBI home loan insurance premium calculator helps you estimate how much you may need to pay for insuring your home loan. It gives you an approximate premium based on your loan and personal details. The home loan insurance calculator takes the following details into account.

Loan amount
Loan tenure
Age of the borrower
Gender
Type of coverage chosen

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How to Check SBI Home Loan Insurance Premium Calculator Step by Step?

Here is a simple way to use the SBI home loan insurance premium calculator:

Step 1: Enter the home loan amount in the home loan insurance calculator

Step 2: Select the policy tenure as per the home loan repayment tenure.

Step 3: Fill in the applicable interest rate.

Step 4: The insurance for home loan EMI calculator provides an estimated EMI for the insurance premium.

Step 5: This helps borrowers choose an insurance for home loan that aligns with their financial capacity.

SBI Home Loan Protection Plan Premium Calculator with Example

Let us understand the working of SBI home loan protection plan premium calculator with example:

Details	Value
Home Loan Amount	₹50 lakh
Loan Tenure	20 years
Borrower Age	30 years
Coverage Type	Reducing balance
Estimated Premium	Depends on plan and payment mode

The actual premium may change based on plan features and policy terms.

How to Check Home Loan Insurance Premium Paid in SBI?

Here is how to check home loan insurance premium paid in SBI for existing policyholders:

You can use your SBI loan account statement
Policy documents issued at the time of purchase
SBI Life customer portal or customer support
Bank branch where the loan was sanctioned

SBI Loan Against Life Insurance Policy Process

The eligible customers can avail of SBI loan against life insurance policy process in the following way:

You need to hold an active SBI Life insurance policy with surrender value
Submit a loan against life insurance request to SBI or SBI Life
Your policy will be evaluated by the insurer
Loan amount will be sanctioned as a percentage of the policy’s value

SBI Home Loan EMI Calculator with Prepayments, Taxes & Insurance

An SBI home loan EMI calculator with prepayments, taxes, and insurance helps you in the following ways:

Estimate monthly EMIs
Factor in prepayments and see interest savings
Understand how insurance costs affect overall outgo
Plan tax benefits linked to home loans

Should You Use the SBI Home Loan Insurance Premium Calculator?

Using the home loan EMI calculator is useful if you want clarity before committing. It helps you understand affordability, compare options, and decide whether the protection fits into your long-term planning. While the calculator gives an estimate, always review the policy details before finalising.

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FAQs

Q: Is SBI home loan insurance mandatory?

Ans: No, it is not mandatory, but it is strongly recommended to protect your family from loan liability.
Q: Can I buy home loan insurance later after taking the loan?

Ans: Yes, you can buy home loan insurance after taking the loan, depending on your eligibility and policy conditions.
Q: Does SBI home loan insurance cover the full loan amount throughout?

Ans: Usually, the cover reduces as the loan balance reduces, matching the outstanding amount.
Q: Can I use an external insurer instead of SBI life insurance plan?

Ans: Yes, you can choose another insurer, as long as the bank’s requirements from a home loan insurance are met.
Q: Does prepayment affect home loan insurance?

Ans: Prepayments reduce the outstanding loan, but the insurance cover structure depends on the policy terms.

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

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