Home Loan EMI on ₹20L at 8% for 15 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹19,113
Total Interest
₹14,40,340
Total Payment
₹34,40,340
Your monthly home loan EMI is ₹19,113. Over 15 years, you pay ₹14,40,340 in interest — that's 72% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹71,956 | ₹1,57,400 |
| 2 | ₹77,929 | ₹1,51,427 |
| 3 | ₹84,397 | ₹1,44,959 |
| 4 | ₹91,402 | ₹1,37,954 |
| 5 | ₹98,988 | ₹1,30,368 |
| 6 | ₹1,07,204 | ₹1,22,152 |
| 7 | ₹1,16,102 | ₹1,13,254 |
| 8 | ₹1,25,738 | ₹1,03,618 |
| 9 | ₹1,36,174 | ₹93,182 |
| 10 | ₹1,47,477 | ₹81,879 |
| 11 | ₹1,59,717 | ₹69,639 |
| 12 | ₹1,72,974 | ₹56,382 |
| 13 | ₹1,87,331 | ₹42,025 |
| 14 | ₹2,02,879 | ₹26,477 |
| 15 | ₹2,19,718 | ₹9,638 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹71,956 | ₹1,57,400 | ₹19,28,044 |
| 2 | ₹77,929 | ₹1,51,427 | ₹18,50,115 |
| 3 | ₹84,397 | ₹1,44,959 | ₹17,65,718 |
| 4 | ₹91,402 | ₹1,37,954 | ₹16,74,316 |
| 5 | ₹98,988 | ₹1,30,368 | ₹15,75,328 |
| 6 | ₹1,07,204 | ₹1,22,152 | ₹14,68,124 |
| 7 | ₹1,16,102 | ₹1,13,254 | ₹13,52,022 |
| 8 | ₹1,25,738 | ₹1,03,618 | ₹12,26,284 |
| 9 | ₹1,36,174 | ₹93,182 | ₹10,90,110 |
| 10 | ₹1,47,477 | ₹81,879 | ₹9,42,633 |
| 11 | ₹1,59,717 | ₹69,639 | ₹7,82,916 |
| 12 | ₹1,72,974 | ₹56,382 | ₹6,09,942 |
| 13 | ₹1,87,331 | ₹42,025 | ₹4,22,611 |
| 14 | ₹2,02,879 | ₹26,477 | ₹2,19,732 |
| 15 | ₹2,19,718 | ₹9,638 | ₹14 |
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.