Home Loan EMI on ₹15L at 10% for 10 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹19,823
Total Interest
₹8,78,760
Total Payment
₹23,78,760
Your monthly home loan EMI is ₹19,823. Over 10 years, you pay ₹8,78,760 in interest — that's 59% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹92,018 | ₹1,45,858 |
| 2 | ₹1,01,653 | ₹1,36,223 |
| 3 | ₹1,12,298 | ₹1,25,578 |
| 4 | ₹1,24,057 | ₹1,13,819 |
| 5 | ₹1,37,047 | ₹1,00,829 |
| 6 | ₹1,51,397 | ₹86,479 |
| 7 | ₹1,67,251 | ₹70,625 |
| 8 | ₹1,84,764 | ₹53,112 |
| 9 | ₹2,04,111 | ₹33,765 |
| 10 | ₹2,25,405 | ₹12,392 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹92,018 | ₹1,45,858 | ₹14,07,982 |
| 2 | ₹1,01,653 | ₹1,36,223 | ₹13,06,329 |
| 3 | ₹1,12,298 | ₹1,25,578 | ₹11,94,032 |
| 4 | ₹1,24,057 | ₹1,13,819 | ₹10,69,975 |
| 5 | ₹1,37,047 | ₹1,00,829 | ₹9,32,928 |
| 6 | ₹1,51,397 | ₹86,479 | ₹7,81,531 |
| 7 | ₹1,67,251 | ₹70,625 | ₹6,14,280 |
| 8 | ₹1,84,764 | ₹53,112 | ₹4,29,516 |
| 9 | ₹2,04,111 | ₹33,765 | ₹2,25,405 |
| 10 | ₹2,25,405 | ₹12,392 | ₹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.