Home Loan EMI on ₹1.5Cr at 10.5% for 10 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹2,02,402
Total Interest
₹92,88,240
Total Payment
₹2,42,88,240
Your monthly home loan EMI is ₹2,02,402. Over 10 years, you pay ₹92,88,240 in interest — that's 62% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹8,96,137 | ₹15,32,687 |
| 2 | ₹9,94,894 | ₹14,33,930 |
| 3 | ₹11,04,535 | ₹13,24,289 |
| 4 | ₹12,26,258 | ₹12,02,566 |
| 5 | ₹13,61,396 | ₹10,67,428 |
| 6 | ₹15,11,427 | ₹9,17,397 |
| 7 | ₹16,77,991 | ₹7,50,833 |
| 8 | ₹18,62,912 | ₹5,65,912 |
| 9 | ₹20,68,211 | ₹3,60,613 |
| 10 | ₹22,96,135 | ₹1,32,689 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹8,96,137 | ₹15,32,687 | ₹1,41,03,863 |
| 2 | ₹9,94,894 | ₹14,33,930 | ₹1,31,08,969 |
| 3 | ₹11,04,535 | ₹13,24,289 | ₹1,20,04,435 |
| 4 | ₹12,26,258 | ₹12,02,566 | ₹1,07,78,176 |
| 5 | ₹13,61,396 | ₹10,67,428 | ₹94,16,780 |
| 6 | ₹15,11,427 | ₹9,17,397 | ₹79,05,353 |
| 7 | ₹16,77,991 | ₹7,50,833 | ₹62,27,362 |
| 8 | ₹18,62,912 | ₹5,65,912 | ₹43,64,450 |
| 9 | ₹20,68,211 | ₹3,60,613 | ₹22,96,239 |
| 10 | ₹22,96,135 | ₹1,32,689 | ₹104 |
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.