Home Loan EMI on ₹15L at 8.5% for 20 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹13,017
Total Interest
₹16,24,080
Total Payment
₹31,24,080
Your monthly home loan EMI is ₹13,017. Over 20 years, you pay ₹16,24,080 in interest — that's 108% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹29,849 | ₹1,26,355 |
| 2 | ₹32,487 | ₹1,23,717 |
| 3 | ₹35,359 | ₹1,20,845 |
| 4 | ₹38,484 | ₹1,17,720 |
| 5 | ₹41,886 | ₹1,14,318 |
| 6 | ₹45,589 | ₹1,10,615 |
| 7 | ₹49,618 | ₹1,06,586 |
| 8 | ₹54,004 | ₹1,02,200 |
| 9 | ₹58,777 | ₹97,427 |
| 10 | ₹63,973 | ₹92,231 |
| 11 | ₹69,627 | ₹86,577 |
| 12 | ₹75,782 | ₹80,422 |
| 13 | ₹82,480 | ₹73,724 |
| 14 | ₹89,771 | ₹66,433 |
| 15 | ₹97,706 | ₹58,498 |
| 16 | ₹1,06,342 | ₹49,862 |
| 17 | ₹1,15,742 | ₹40,462 |
| 18 | ₹1,25,972 | ₹30,232 |
| 19 | ₹1,37,107 | ₹19,097 |
| 20 | ₹1,49,226 | ₹6,978 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹29,849 | ₹1,26,355 | ₹14,70,151 |
| 2 | ₹32,487 | ₹1,23,717 | ₹14,37,663 |
| 3 | ₹35,359 | ₹1,20,845 | ₹14,02,304 |
| 4 | ₹38,484 | ₹1,17,720 | ₹13,63,820 |
| 5 | ₹41,886 | ₹1,14,318 | ₹13,21,934 |
| 6 | ₹45,589 | ₹1,10,615 | ₹12,76,345 |
| 7 | ₹49,618 | ₹1,06,586 | ₹12,26,727 |
| 8 | ₹54,004 | ₹1,02,200 | ₹11,72,723 |
| 9 | ₹58,777 | ₹97,427 | ₹11,13,946 |
| 10 | ₹63,973 | ₹92,231 | ₹10,49,973 |
| 11 | ₹69,627 | ₹86,577 | ₹9,80,346 |
| 12 | ₹75,782 | ₹80,422 | ₹9,04,564 |
| 13 | ₹82,480 | ₹73,724 | ₹8,22,083 |
| 14 | ₹89,771 | ₹66,433 | ₹7,32,313 |
| 15 | ₹97,706 | ₹58,498 | ₹6,34,607 |
| 16 | ₹1,06,342 | ₹49,862 | ₹5,28,265 |
| 17 | ₹1,15,742 | ₹40,462 | ₹4,12,523 |
| 18 | ₹1,25,972 | ₹30,232 | ₹2,86,551 |
| 19 | ₹1,37,107 | ₹19,097 | ₹1,49,444 |
| 20 | ₹1,49,226 | ₹6,978 | ₹219 |
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.