Home Loan EMI on ₹15L at 9.5% for 10 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹19,410
Total Interest
₹8,29,200
Total Payment
₹23,29,200
Your monthly home loan EMI is ₹19,410. Over 10 years, you pay ₹8,29,200 in interest — that's 55% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹94,463 | ₹1,38,457 |
| 2 | ₹1,03,838 | ₹1,29,082 |
| 3 | ₹1,14,144 | ₹1,18,776 |
| 4 | ₹1,25,472 | ₹1,07,448 |
| 5 | ₹1,37,925 | ₹94,995 |
| 6 | ₹1,51,614 | ₹81,306 |
| 7 | ₹1,66,661 | ₹66,259 |
| 8 | ₹1,83,202 | ₹49,718 |
| 9 | ₹2,01,384 | ₹31,536 |
| 10 | ₹2,21,298 | ₹11,549 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹94,463 | ₹1,38,457 | ₹14,05,537 |
| 2 | ₹1,03,838 | ₹1,29,082 | ₹13,01,699 |
| 3 | ₹1,14,144 | ₹1,18,776 | ₹11,87,556 |
| 4 | ₹1,25,472 | ₹1,07,448 | ₹10,62,083 |
| 5 | ₹1,37,925 | ₹94,995 | ₹9,24,158 |
| 6 | ₹1,51,614 | ₹81,306 | ₹7,72,545 |
| 7 | ₹1,66,661 | ₹66,259 | ₹6,05,884 |
| 8 | ₹1,83,202 | ₹49,718 | ₹4,22,682 |
| 9 | ₹2,01,384 | ₹31,536 | ₹2,21,298 |
| 10 | ₹2,21,298 | ₹11,549 | ₹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.