Home Loan EMI on ₹15L at 9% for 10 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹19,001
Total Interest
₹7,80,120
Total Payment
₹22,80,120
Your monthly home loan EMI is ₹19,001. Over 10 years, you pay ₹7,80,120 in interest — that's 52% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹96,946 | ₹1,31,066 |
| 2 | ₹1,06,041 | ₹1,21,971 |
| 3 | ₹1,15,988 | ₹1,12,024 |
| 4 | ₹1,26,868 | ₹1,01,144 |
| 5 | ₹1,38,769 | ₹89,243 |
| 6 | ₹1,51,787 | ₹76,225 |
| 7 | ₹1,66,026 | ₹61,986 |
| 8 | ₹1,81,600 | ₹46,412 |
| 9 | ₹1,98,635 | ₹29,377 |
| 10 | ₹2,17,269 | ₹10,743 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹96,946 | ₹1,31,066 | ₹14,03,054 |
| 2 | ₹1,06,041 | ₹1,21,971 | ₹12,97,013 |
| 3 | ₹1,15,988 | ₹1,12,024 | ₹11,81,025 |
| 4 | ₹1,26,868 | ₹1,01,144 | ₹10,54,157 |
| 5 | ₹1,38,769 | ₹89,243 | ₹9,15,388 |
| 6 | ₹1,51,787 | ₹76,225 | ₹7,63,601 |
| 7 | ₹1,66,026 | ₹61,986 | ₹5,97,575 |
| 8 | ₹1,81,600 | ₹46,412 | ₹4,15,975 |
| 9 | ₹1,98,635 | ₹29,377 | ₹2,17,340 |
| 10 | ₹2,17,269 | ₹10,743 | ₹71 |
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.