Home Loan EMI on ₹15L at 10.5% for 15 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹16,581
Total Interest
₹14,84,580
Total Payment
₹29,84,580
Your monthly home loan EMI is ₹16,581. Over 15 years, you pay ₹14,84,580 in interest — that's 99% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹43,527 | ₹1,55,445 |
| 2 | ₹48,324 | ₹1,50,648 |
| 3 | ₹53,650 | ₹1,45,322 |
| 4 | ₹59,562 | ₹1,39,410 |
| 5 | ₹66,126 | ₹1,32,846 |
| 6 | ₹73,413 | ₹1,25,559 |
| 7 | ₹81,504 | ₹1,17,468 |
| 8 | ₹90,485 | ₹1,08,487 |
| 9 | ₹1,00,457 | ₹98,515 |
| 10 | ₹1,11,528 | ₹87,444 |
| 11 | ₹1,23,819 | ₹75,153 |
| 12 | ₹1,37,464 | ₹61,508 |
| 13 | ₹1,52,613 | ₹46,359 |
| 14 | ₹1,69,432 | ₹29,540 |
| 15 | ₹1,88,096 | ₹10,868 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹43,527 | ₹1,55,445 | ₹14,56,473 |
| 2 | ₹48,324 | ₹1,50,648 | ₹14,08,149 |
| 3 | ₹53,650 | ₹1,45,322 | ₹13,54,499 |
| 4 | ₹59,562 | ₹1,39,410 | ₹12,94,937 |
| 5 | ₹66,126 | ₹1,32,846 | ₹12,28,811 |
| 6 | ₹73,413 | ₹1,25,559 | ₹11,55,398 |
| 7 | ₹81,504 | ₹1,17,468 | ₹10,73,895 |
| 8 | ₹90,485 | ₹1,08,487 | ₹9,83,409 |
| 9 | ₹1,00,457 | ₹98,515 | ₹8,82,952 |
| 10 | ₹1,11,528 | ₹87,444 | ₹7,71,424 |
| 11 | ₹1,23,819 | ₹75,153 | ₹6,47,605 |
| 12 | ₹1,37,464 | ₹61,508 | ₹5,10,141 |
| 13 | ₹1,52,613 | ₹46,359 | ₹3,57,528 |
| 14 | ₹1,69,432 | ₹29,540 | ₹1,88,096 |
| 15 | ₹1,88,096 | ₹10,868 | ₹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.