Home Loan EMI on ₹1.5Cr at 10% for 15 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹1,61,191
Total Interest
₹1,40,14,380
Total Payment
₹2,90,14,380
Your monthly home loan EMI is ₹1,61,191. Over 15 years, you pay ₹1,40,14,380 in interest — that's 93% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹4,54,760 | ₹14,79,532 |
| 2 | ₹5,02,380 | ₹14,31,912 |
| 3 | ₹5,54,986 | ₹13,79,306 |
| 4 | ₹6,13,100 | ₹13,21,192 |
| 5 | ₹6,77,299 | ₹12,56,993 |
| 6 | ₹7,48,221 | ₹11,86,071 |
| 7 | ₹8,26,570 | ₹11,07,722 |
| 8 | ₹9,13,123 | ₹10,21,169 |
| 9 | ₹10,08,739 | ₹9,25,553 |
| 10 | ₹11,14,367 | ₹8,19,925 |
| 11 | ₹12,31,055 | ₹7,03,237 |
| 12 | ₹13,59,963 | ₹5,74,329 |
| 13 | ₹15,02,369 | ₹4,31,923 |
| 14 | ₹16,59,687 | ₹2,74,605 |
| 15 | ₹18,33,381 | ₹1,00,814 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹4,54,760 | ₹14,79,532 | ₹1,45,45,240 |
| 2 | ₹5,02,380 | ₹14,31,912 | ₹1,40,42,860 |
| 3 | ₹5,54,986 | ₹13,79,306 | ₹1,34,87,874 |
| 4 | ₹6,13,100 | ₹13,21,192 | ₹1,28,74,774 |
| 5 | ₹6,77,299 | ₹12,56,993 | ₹1,21,97,475 |
| 6 | ₹7,48,221 | ₹11,86,071 | ₹1,14,49,253 |
| 7 | ₹8,26,570 | ₹11,07,722 | ₹1,06,22,683 |
| 8 | ₹9,13,123 | ₹10,21,169 | ₹97,09,561 |
| 9 | ₹10,08,739 | ₹9,25,553 | ₹87,00,822 |
| 10 | ₹11,14,367 | ₹8,19,925 | ₹75,86,455 |
| 11 | ₹12,31,055 | ₹7,03,237 | ₹63,55,400 |
| 12 | ₹13,59,963 | ₹5,74,329 | ₹49,95,437 |
| 13 | ₹15,02,369 | ₹4,31,923 | ₹34,93,068 |
| 14 | ₹16,59,687 | ₹2,74,605 | ₹18,33,381 |
| 15 | ₹18,33,381 | ₹1,00,814 | ₹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.