Home Loan EMI on ₹20L at 10% for 15 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹21,492
Total Interest
₹18,68,560
Total Payment
₹38,68,560
Your monthly home loan EMI is ₹21,492. Over 15 years, you pay ₹18,68,560 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 | ₹60,633 | ₹1,97,271 |
| 2 | ₹66,982 | ₹1,90,922 |
| 3 | ₹73,996 | ₹1,83,908 |
| 4 | ₹81,744 | ₹1,76,160 |
| 5 | ₹90,304 | ₹1,67,600 |
| 6 | ₹99,760 | ₹1,58,144 |
| 7 | ₹1,10,206 | ₹1,47,698 |
| 8 | ₹1,21,746 | ₹1,36,158 |
| 9 | ₹1,34,495 | ₹1,23,409 |
| 10 | ₹1,48,578 | ₹1,09,326 |
| 11 | ₹1,64,136 | ₹93,768 |
| 12 | ₹1,81,323 | ₹76,581 |
| 13 | ₹2,00,310 | ₹57,594 |
| 14 | ₹2,21,285 | ₹36,619 |
| 15 | ₹2,44,457 | ₹13,447 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹60,633 | ₹1,97,271 | ₹19,39,367 |
| 2 | ₹66,982 | ₹1,90,922 | ₹18,72,385 |
| 3 | ₹73,996 | ₹1,83,908 | ₹17,98,389 |
| 4 | ₹81,744 | ₹1,76,160 | ₹17,16,644 |
| 5 | ₹90,304 | ₹1,67,600 | ₹16,26,340 |
| 6 | ₹99,760 | ₹1,58,144 | ₹15,26,580 |
| 7 | ₹1,10,206 | ₹1,47,698 | ₹14,16,374 |
| 8 | ₹1,21,746 | ₹1,36,158 | ₹12,94,628 |
| 9 | ₹1,34,495 | ₹1,23,409 | ₹11,60,133 |
| 10 | ₹1,48,578 | ₹1,09,326 | ₹10,11,555 |
| 11 | ₹1,64,136 | ₹93,768 | ₹8,47,419 |
| 12 | ₹1,81,323 | ₹76,581 | ₹6,66,095 |
| 13 | ₹2,00,310 | ₹57,594 | ₹4,65,785 |
| 14 | ₹2,21,285 | ₹36,619 | ₹2,44,499 |
| 15 | ₹2,44,457 | ₹13,447 | ₹42 |
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.