Home Loan EMI on ₹20L at 9% for 15 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹20,285
Total Interest
₹16,51,300
Total Payment
₹36,51,300
Your monthly home loan EMI is ₹20,285. Over 15 years, you pay ₹16,51,300 in interest — that's 83% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹66,103 | ₹1,77,317 |
| 2 | ₹72,303 | ₹1,71,117 |
| 3 | ₹79,086 | ₹1,64,334 |
| 4 | ₹86,505 | ₹1,56,915 |
| 5 | ₹94,620 | ₹1,48,800 |
| 6 | ₹1,03,496 | ₹1,39,924 |
| 7 | ₹1,13,204 | ₹1,30,216 |
| 8 | ₹1,23,824 | ₹1,19,596 |
| 9 | ₹1,35,439 | ₹1,07,981 |
| 10 | ₹1,48,144 | ₹95,276 |
| 11 | ₹1,62,041 | ₹81,379 |
| 12 | ₹1,77,242 | ₹66,178 |
| 13 | ₹1,93,868 | ₹49,552 |
| 14 | ₹2,12,054 | ₹31,366 |
| 15 | ₹2,31,946 | ₹11,474 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹66,103 | ₹1,77,317 | ₹19,33,897 |
| 2 | ₹72,303 | ₹1,71,117 | ₹18,61,594 |
| 3 | ₹79,086 | ₹1,64,334 | ₹17,82,508 |
| 4 | ₹86,505 | ₹1,56,915 | ₹16,96,003 |
| 5 | ₹94,620 | ₹1,48,800 | ₹16,01,383 |
| 6 | ₹1,03,496 | ₹1,39,924 | ₹14,97,888 |
| 7 | ₹1,13,204 | ₹1,30,216 | ₹13,84,684 |
| 8 | ₹1,23,824 | ₹1,19,596 | ₹12,60,860 |
| 9 | ₹1,35,439 | ₹1,07,981 | ₹11,25,421 |
| 10 | ₹1,48,144 | ₹95,276 | ₹9,77,277 |
| 11 | ₹1,62,041 | ₹81,379 | ₹8,15,236 |
| 12 | ₹1,77,242 | ₹66,178 | ₹6,37,994 |
| 13 | ₹1,93,868 | ₹49,552 | ₹4,44,126 |
| 14 | ₹2,12,054 | ₹31,366 | ₹2,32,072 |
| 15 | ₹2,31,946 | ₹11,474 | ₹126 |
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.