This paper proposes an estimation algorithm for the electrical parameters of synchronous reluctance motors (SynRMs) by using a synchronous PI current regulator at standstill. In reality, the electrical parameters are only measured or estimated in limited conditions without fully considering the effects of the switching devices, connecting wires, and magnetic saturation. As a result, the acquired electrical parameters are different from the real parameters of the motor drive system. In this paper, the effects of switching devices, connecting wires, and the magnetic saturation are considered by simultaneously using the short pulse and closed loop equations of resistance and synchronous inductances. Therefore, the proposed algorithm can be easily and safely implemented with a reduced measuring time. In addition, it does not need any external or additional measurement equipment, information on the motor's dimensions, and material characteristics as in the case of FEM. Several experimental results verify the effectiveness of the proposed algorithm.