Home Loan EMI on ₹20L at 10.5% for 15 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹22,108
Total Interest
₹19,79,440
Total Payment
₹39,79,440
Your monthly home loan EMI is ₹22,108. Over 15 years, you pay ₹19,79,440 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 | ₹58,036 | ₹2,07,260 |
| 2 | ₹64,432 | ₹2,00,864 |
| 3 | ₹71,533 | ₹1,93,763 |
| 4 | ₹79,416 | ₹1,85,880 |
| 5 | ₹88,168 | ₹1,77,128 |
| 6 | ₹97,884 | ₹1,67,412 |
| 7 | ₹1,08,671 | ₹1,56,625 |
| 8 | ₹1,20,647 | ₹1,44,649 |
| 9 | ₹1,33,943 | ₹1,31,353 |
| 10 | ₹1,48,704 | ₹1,16,592 |
| 11 | ₹1,65,092 | ₹1,00,204 |
| 12 | ₹1,83,285 | ₹82,011 |
| 13 | ₹2,03,484 | ₹61,812 |
| 14 | ₹2,25,909 | ₹39,387 |
| 15 | ₹2,50,795 | ₹14,491 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹58,036 | ₹2,07,260 | ₹19,41,964 |
| 2 | ₹64,432 | ₹2,00,864 | ₹18,77,532 |
| 3 | ₹71,533 | ₹1,93,763 | ₹18,05,999 |
| 4 | ₹79,416 | ₹1,85,880 | ₹17,26,583 |
| 5 | ₹88,168 | ₹1,77,128 | ₹16,38,415 |
| 6 | ₹97,884 | ₹1,67,412 | ₹15,40,531 |
| 7 | ₹1,08,671 | ₹1,56,625 | ₹14,31,860 |
| 8 | ₹1,20,647 | ₹1,44,649 | ₹13,11,212 |
| 9 | ₹1,33,943 | ₹1,31,353 | ₹11,77,269 |
| 10 | ₹1,48,704 | ₹1,16,592 | ₹10,28,565 |
| 11 | ₹1,65,092 | ₹1,00,204 | ₹8,63,474 |
| 12 | ₹1,83,285 | ₹82,011 | ₹6,80,188 |
| 13 | ₹2,03,484 | ₹61,812 | ₹4,76,704 |
| 14 | ₹2,25,909 | ₹39,387 | ₹2,50,795 |
| 15 | ₹2,50,795 | ₹14,491 | ₹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.