Home Loan EMI on ₹1.5Cr at 9.5% for 10 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹1,94,096
Total Interest
₹82,91,520
Total Payment
₹2,32,91,520
Your monthly home loan EMI is ₹1,94,096. Over 10 years, you pay ₹82,91,520 in interest — that's 55% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹9,44,578 | ₹13,84,574 |
| 2 | ₹10,38,325 | ₹12,90,827 |
| 3 | ₹11,41,376 | ₹11,87,776 |
| 4 | ₹12,54,655 | ₹10,74,497 |
| 5 | ₹13,79,177 | ₹9,49,975 |
| 6 | ₹15,16,056 | ₹8,13,096 |
| 7 | ₹16,66,521 | ₹6,62,631 |
| 8 | ₹18,31,920 | ₹4,97,232 |
| 9 | ₹20,13,733 | ₹3,15,419 |
| 10 | ₹22,13,591 | ₹1,15,561 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹9,44,578 | ₹13,84,574 | ₹1,40,55,422 |
| 2 | ₹10,38,325 | ₹12,90,827 | ₹1,30,17,097 |
| 3 | ₹11,41,376 | ₹11,87,776 | ₹1,18,75,721 |
| 4 | ₹12,54,655 | ₹10,74,497 | ₹1,06,21,066 |
| 5 | ₹13,79,177 | ₹9,49,975 | ₹92,41,889 |
| 6 | ₹15,16,056 | ₹8,13,096 | ₹77,25,833 |
| 7 | ₹16,66,521 | ₹6,62,631 | ₹60,59,311 |
| 8 | ₹18,31,920 | ₹4,97,232 | ₹42,27,392 |
| 9 | ₹20,13,733 | ₹3,15,419 | ₹22,13,658 |
| 10 | ₹22,13,591 | ₹1,15,561 | ₹67 |
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.