Home Loan EMI on ₹1.5Cr at 9% for 15 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹1,52,140
Total Interest
₹1,23,85,200
Total Payment
₹2,73,85,200
Your monthly home loan EMI is ₹1,52,140. Over 15 years, you pay ₹1,23,85,200 in interest — that's 83% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹4,95,801 | ₹13,29,879 |
| 2 | ₹5,42,310 | ₹12,83,370 |
| 3 | ₹5,93,183 | ₹12,32,497 |
| 4 | ₹6,48,827 | ₹11,76,853 |
| 5 | ₹7,09,692 | ₹11,15,988 |
| 6 | ₹7,76,266 | ₹10,49,414 |
| 7 | ₹8,49,085 | ₹9,76,595 |
| 8 | ₹9,28,735 | ₹8,96,945 |
| 9 | ₹10,15,857 | ₹8,09,823 |
| 10 | ₹11,11,151 | ₹7,14,529 |
| 11 | ₹12,15,385 | ₹6,10,295 |
| 12 | ₹13,29,396 | ₹4,96,284 |
| 13 | ₹14,54,103 | ₹3,71,577 |
| 14 | ₹15,90,507 | ₹2,35,173 |
| 15 | ₹17,39,703 | ₹85,972 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹4,95,801 | ₹13,29,879 | ₹1,45,04,199 |
| 2 | ₹5,42,310 | ₹12,83,370 | ₹1,39,61,889 |
| 3 | ₹5,93,183 | ₹12,32,497 | ₹1,33,68,706 |
| 4 | ₹6,48,827 | ₹11,76,853 | ₹1,27,19,879 |
| 5 | ₹7,09,692 | ₹11,15,988 | ₹1,20,10,187 |
| 6 | ₹7,76,266 | ₹10,49,414 | ₹1,12,33,921 |
| 7 | ₹8,49,085 | ₹9,76,595 | ₹1,03,84,837 |
| 8 | ₹9,28,735 | ₹8,96,945 | ₹94,56,102 |
| 9 | ₹10,15,857 | ₹8,09,823 | ₹84,40,245 |
| 10 | ₹11,11,151 | ₹7,14,529 | ₹73,29,094 |
| 11 | ₹12,15,385 | ₹6,10,295 | ₹61,13,709 |
| 12 | ₹13,29,396 | ₹4,96,284 | ₹47,84,313 |
| 13 | ₹14,54,103 | ₹3,71,577 | ₹33,30,211 |
| 14 | ₹15,90,507 | ₹2,35,173 | ₹17,39,703 |
| 15 | ₹17,39,703 | ₹85,972 | ₹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.