Home Loan EMI on ₹20L at 9.5% for 15 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹20,884
Total Interest
₹17,59,120
Total Payment
₹37,59,120
Your monthly home loan EMI is ₹20,884. Over 15 years, you pay ₹17,59,120 in interest — that's 88% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹63,318 | ₹1,87,290 |
| 2 | ₹69,602 | ₹1,81,006 |
| 3 | ₹76,510 | ₹1,74,098 |
| 4 | ₹84,103 | ₹1,66,505 |
| 5 | ₹92,450 | ₹1,58,158 |
| 6 | ₹1,01,626 | ₹1,48,982 |
| 7 | ₹1,11,712 | ₹1,38,896 |
| 8 | ₹1,22,799 | ₹1,27,809 |
| 9 | ₹1,34,987 | ₹1,15,621 |
| 10 | ₹1,48,384 | ₹1,02,224 |
| 11 | ₹1,63,110 | ₹87,498 |
| 12 | ₹1,79,299 | ₹71,309 |
| 13 | ₹1,97,094 | ₹53,514 |
| 14 | ₹2,16,655 | ₹33,953 |
| 15 | ₹2,38,157 | ₹12,451 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹63,318 | ₹1,87,290 | ₹19,36,682 |
| 2 | ₹69,602 | ₹1,81,006 | ₹18,67,080 |
| 3 | ₹76,510 | ₹1,74,098 | ₹17,90,570 |
| 4 | ₹84,103 | ₹1,66,505 | ₹17,06,467 |
| 5 | ₹92,450 | ₹1,58,158 | ₹16,14,017 |
| 6 | ₹1,01,626 | ₹1,48,982 | ₹15,12,391 |
| 7 | ₹1,11,712 | ₹1,38,896 | ₹14,00,679 |
| 8 | ₹1,22,799 | ₹1,27,809 | ₹12,77,880 |
| 9 | ₹1,34,987 | ₹1,15,621 | ₹11,42,893 |
| 10 | ₹1,48,384 | ₹1,02,224 | ₹9,94,510 |
| 11 | ₹1,63,110 | ₹87,498 | ₹8,31,399 |
| 12 | ₹1,79,299 | ₹71,309 | ₹6,52,101 |
| 13 | ₹1,97,094 | ₹53,514 | ₹4,55,007 |
| 14 | ₹2,16,655 | ₹33,953 | ₹2,38,353 |
| 15 | ₹2,38,157 | ₹12,451 | ₹195 |
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.