Home Loan EMI on ₹1.5Cr at 8% for 15 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹1,43,348
Total Interest
₹1,08,02,640
Total Payment
₹2,58,02,640
Your monthly home loan EMI is ₹1,43,348. Over 15 years, you pay ₹1,08,02,640 in interest — that's 72% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹5,39,679 | ₹11,80,497 |
| 2 | ₹5,84,473 | ₹11,35,703 |
| 3 | ₹6,32,983 | ₹10,87,193 |
| 4 | ₹6,85,521 | ₹10,34,655 |
| 5 | ₹7,42,419 | ₹9,77,757 |
| 6 | ₹8,04,039 | ₹9,16,137 |
| 7 | ₹8,70,774 | ₹8,49,402 |
| 8 | ₹9,43,048 | ₹7,77,128 |
| 9 | ₹10,21,320 | ₹6,98,856 |
| 10 | ₹11,06,089 | ₹6,14,087 |
| 11 | ₹11,97,894 | ₹5,22,282 |
| 12 | ₹12,97,319 | ₹4,22,857 |
| 13 | ₹14,04,996 | ₹3,15,180 |
| 14 | ₹15,21,609 | ₹1,98,567 |
| 15 | ₹16,47,837 | ₹72,274 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹5,39,679 | ₹11,80,497 | ₹1,44,60,321 |
| 2 | ₹5,84,473 | ₹11,35,703 | ₹1,38,75,848 |
| 3 | ₹6,32,983 | ₹10,87,193 | ₹1,32,42,865 |
| 4 | ₹6,85,521 | ₹10,34,655 | ₹1,25,57,344 |
| 5 | ₹7,42,419 | ₹9,77,757 | ₹1,18,14,925 |
| 6 | ₹8,04,039 | ₹9,16,137 | ₹1,10,10,886 |
| 7 | ₹8,70,774 | ₹8,49,402 | ₹1,01,40,112 |
| 8 | ₹9,43,048 | ₹7,77,128 | ₹91,97,065 |
| 9 | ₹10,21,320 | ₹6,98,856 | ₹81,75,745 |
| 10 | ₹11,06,089 | ₹6,14,087 | ₹70,69,655 |
| 11 | ₹11,97,894 | ₹5,22,282 | ₹58,71,761 |
| 12 | ₹12,97,319 | ₹4,22,857 | ₹45,74,442 |
| 13 | ₹14,04,996 | ₹3,15,180 | ₹31,69,447 |
| 14 | ₹15,21,609 | ₹1,98,567 | ₹16,47,837 |
| 15 | ₹16,47,837 | ₹72,274 | ₹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.