Home Loan EMI on ₹1Cr at 8% for 10 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹1,21,328
Total Interest
₹45,59,360
Total Payment
₹1,45,59,360
Your monthly home loan EMI is ₹1,21,328. Over 10 years, you pay ₹45,59,360 in interest — that's 46% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹6,80,530 | ₹7,75,406 |
| 2 | ₹7,37,013 | ₹7,18,923 |
| 3 | ₹7,98,185 | ₹6,57,751 |
| 4 | ₹8,64,434 | ₹5,91,502 |
| 5 | ₹9,36,181 | ₹5,19,755 |
| 6 | ₹10,13,884 | ₹4,42,052 |
| 7 | ₹10,98,036 | ₹3,57,900 |
| 8 | ₹11,89,172 | ₹2,66,764 |
| 9 | ₹12,87,873 | ₹1,68,063 |
| 10 | ₹13,94,692 | ₹61,170 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹6,80,530 | ₹7,75,406 | ₹93,19,470 |
| 2 | ₹7,37,013 | ₹7,18,923 | ₹85,82,457 |
| 3 | ₹7,98,185 | ₹6,57,751 | ₹77,84,272 |
| 4 | ₹8,64,434 | ₹5,91,502 | ₹69,19,839 |
| 5 | ₹9,36,181 | ₹5,19,755 | ₹59,83,657 |
| 6 | ₹10,13,884 | ₹4,42,052 | ₹49,69,773 |
| 7 | ₹10,98,036 | ₹3,57,900 | ₹38,71,737 |
| 8 | ₹11,89,172 | ₹2,66,764 | ₹26,82,565 |
| 9 | ₹12,87,873 | ₹1,68,063 | ₹13,94,692 |
| 10 | ₹13,94,692 | ₹61,170 | ₹0 |
Tax Benefits on Home Loan
Under Section 24(b), you can claim a deduction of up to ₹2 lakh per year on home loan interest for self-occupied property. Under Section 80C, principal repayment up to ₹1.5 lakh qualifies for deduction. These benefits can save you significant tax over the loan tenure.