Home Loan EMI on ₹15L at 10% for 15 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹16,119
Total Interest
₹14,01,420
Total Payment
₹29,01,420
Your monthly home loan EMI is ₹16,119. Over 15 years, you pay ₹14,01,420 in interest — that's 93% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹45,475 | ₹1,47,953 |
| 2 | ₹50,237 | ₹1,43,191 |
| 3 | ₹55,497 | ₹1,37,931 |
| 4 | ₹61,308 | ₹1,32,120 |
| 5 | ₹67,728 | ₹1,25,700 |
| 6 | ₹74,820 | ₹1,18,608 |
| 7 | ₹82,655 | ₹1,10,773 |
| 8 | ₹91,310 | ₹1,02,118 |
| 9 | ₹1,00,871 | ₹92,557 |
| 10 | ₹1,11,434 | ₹81,994 |
| 11 | ₹1,23,102 | ₹70,326 |
| 12 | ₹1,35,993 | ₹57,435 |
| 13 | ₹1,50,233 | ₹43,195 |
| 14 | ₹1,65,964 | ₹27,464 |
| 15 | ₹1,83,343 | ₹10,085 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹45,475 | ₹1,47,953 | ₹14,54,525 |
| 2 | ₹50,237 | ₹1,43,191 | ₹14,04,289 |
| 3 | ₹55,497 | ₹1,37,931 | ₹13,48,792 |
| 4 | ₹61,308 | ₹1,32,120 | ₹12,87,483 |
| 5 | ₹67,728 | ₹1,25,700 | ₹12,19,755 |
| 6 | ₹74,820 | ₹1,18,608 | ₹11,44,935 |
| 7 | ₹82,655 | ₹1,10,773 | ₹10,62,280 |
| 8 | ₹91,310 | ₹1,02,118 | ₹9,70,971 |
| 9 | ₹1,00,871 | ₹92,557 | ₹8,70,100 |
| 10 | ₹1,11,434 | ₹81,994 | ₹7,58,666 |
| 11 | ₹1,23,102 | ₹70,326 | ₹6,35,564 |
| 12 | ₹1,35,993 | ₹57,435 | ₹4,99,571 |
| 13 | ₹1,50,233 | ₹43,195 | ₹3,49,339 |
| 14 | ₹1,65,964 | ₹27,464 | ₹1,83,375 |
| 15 | ₹1,83,343 | ₹10,085 | ₹32 |
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.