Home Loan EMI on ₹20L at 9.5% for 10 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹25,880
Total Interest
₹11,05,600
Total Payment
₹31,05,600
Your monthly home loan EMI is ₹25,880. Over 10 years, you pay ₹11,05,600 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 | ₹1,25,950 | ₹1,84,610 |
| 2 | ₹1,38,451 | ₹1,72,109 |
| 3 | ₹1,52,192 | ₹1,58,368 |
| 4 | ₹1,67,296 | ₹1,43,264 |
| 5 | ₹1,83,900 | ₹1,26,660 |
| 6 | ₹2,02,152 | ₹1,08,408 |
| 7 | ₹2,22,215 | ₹88,345 |
| 8 | ₹2,44,269 | ₹66,291 |
| 9 | ₹2,68,512 | ₹42,048 |
| 10 | ₹2,95,064 | ₹15,399 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹1,25,950 | ₹1,84,610 | ₹18,74,050 |
| 2 | ₹1,38,451 | ₹1,72,109 | ₹17,35,599 |
| 3 | ₹1,52,192 | ₹1,58,368 | ₹15,83,407 |
| 4 | ₹1,67,296 | ₹1,43,264 | ₹14,16,111 |
| 5 | ₹1,83,900 | ₹1,26,660 | ₹12,32,211 |
| 6 | ₹2,02,152 | ₹1,08,408 | ₹10,30,060 |
| 7 | ₹2,22,215 | ₹88,345 | ₹8,07,845 |
| 8 | ₹2,44,269 | ₹66,291 | ₹5,63,576 |
| 9 | ₹2,68,512 | ₹42,048 | ₹2,95,064 |
| 10 | ₹2,95,064 | ₹15,399 | ₹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.