Home Loan EMI on ₹15L at 9% for 20 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹13,496
Total Interest
₹17,39,040
Total Payment
₹32,39,040
Your monthly home loan EMI is ₹13,496. Over 20 years, you pay ₹17,39,040 in interest — that's 116% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹28,092 | ₹1,33,860 |
| 2 | ₹30,727 | ₹1,31,225 |
| 3 | ₹33,610 | ₹1,28,342 |
| 4 | ₹36,763 | ₹1,25,189 |
| 5 | ₹40,211 | ₹1,21,741 |
| 6 | ₹43,983 | ₹1,17,969 |
| 7 | ₹48,109 | ₹1,13,843 |
| 8 | ₹52,622 | ₹1,09,330 |
| 9 | ₹57,558 | ₹1,04,394 |
| 10 | ₹62,958 | ₹98,994 |
| 11 | ₹68,864 | ₹93,088 |
| 12 | ₹75,324 | ₹86,628 |
| 13 | ₹82,389 | ₹79,563 |
| 14 | ₹90,118 | ₹71,834 |
| 15 | ₹98,572 | ₹63,380 |
| 16 | ₹1,07,818 | ₹54,134 |
| 17 | ₹1,17,933 | ₹44,019 |
| 18 | ₹1,28,995 | ₹32,957 |
| 19 | ₹1,41,096 | ₹20,856 |
| 20 | ₹1,54,258 | ₹7,620 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹28,092 | ₹1,33,860 | ₹14,71,908 |
| 2 | ₹30,727 | ₹1,31,225 | ₹14,41,181 |
| 3 | ₹33,610 | ₹1,28,342 | ₹14,07,571 |
| 4 | ₹36,763 | ₹1,25,189 | ₹13,70,808 |
| 5 | ₹40,211 | ₹1,21,741 | ₹13,30,597 |
| 6 | ₹43,983 | ₹1,17,969 | ₹12,86,614 |
| 7 | ₹48,109 | ₹1,13,843 | ₹12,38,505 |
| 8 | ₹52,622 | ₹1,09,330 | ₹11,85,883 |
| 9 | ₹57,558 | ₹1,04,394 | ₹11,28,325 |
| 10 | ₹62,958 | ₹98,994 | ₹10,65,367 |
| 11 | ₹68,864 | ₹93,088 | ₹9,96,503 |
| 12 | ₹75,324 | ₹86,628 | ₹9,21,180 |
| 13 | ₹82,389 | ₹79,563 | ₹8,38,790 |
| 14 | ₹90,118 | ₹71,834 | ₹7,48,672 |
| 15 | ₹98,572 | ₹63,380 | ₹6,50,101 |
| 16 | ₹1,07,818 | ₹54,134 | ₹5,42,282 |
| 17 | ₹1,17,933 | ₹44,019 | ₹4,24,350 |
| 18 | ₹1,28,995 | ₹32,957 | ₹2,95,354 |
| 19 | ₹1,41,096 | ₹20,856 | ₹1,54,258 |
| 20 | ₹1,54,258 | ₹7,620 | ₹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.