Home Loan EMI on ₹1.5Cr at 8.5% for 10 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹1,85,979
Total Interest
₹73,17,480
Total Payment
₹2,23,17,480
Your monthly home loan EMI is ₹1,85,979. Over 10 years, you pay ₹73,17,480 in interest — that's 49% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹9,94,916 | ₹12,36,832 |
| 2 | ₹10,82,857 | ₹11,48,891 |
| 3 | ₹11,78,572 | ₹10,53,176 |
| 4 | ₹12,82,747 | ₹9,49,001 |
| 5 | ₹13,96,130 | ₹8,35,618 |
| 6 | ₹15,19,535 | ₹7,12,213 |
| 7 | ₹16,53,848 | ₹5,77,900 |
| 8 | ₹18,00,033 | ₹4,31,715 |
| 9 | ₹19,59,140 | ₹2,72,608 |
| 10 | ₹21,32,222 | ₹99,438 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹9,94,916 | ₹12,36,832 | ₹1,40,05,084 |
| 2 | ₹10,82,857 | ₹11,48,891 | ₹1,29,22,227 |
| 3 | ₹11,78,572 | ₹10,53,176 | ₹1,17,43,656 |
| 4 | ₹12,82,747 | ₹9,49,001 | ₹1,04,60,909 |
| 5 | ₹13,96,130 | ₹8,35,618 | ₹90,64,779 |
| 6 | ₹15,19,535 | ₹7,12,213 | ₹75,45,244 |
| 7 | ₹16,53,848 | ₹5,77,900 | ₹58,91,396 |
| 8 | ₹18,00,033 | ₹4,31,715 | ₹40,91,362 |
| 9 | ₹19,59,140 | ₹2,72,608 | ₹21,32,222 |
| 10 | ₹21,32,222 | ₹99,438 | ₹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.