Home Loan EMI on ₹20L at 8.5% for 20 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹17,356
Total Interest
₹21,65,440
Total Payment
₹41,65,440
Your monthly home loan EMI is ₹17,356. Over 20 years, you pay ₹21,65,440 in interest — that's 108% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹39,799 | ₹1,68,473 |
| 2 | ₹43,317 | ₹1,64,955 |
| 3 | ₹47,145 | ₹1,61,127 |
| 4 | ₹51,313 | ₹1,56,959 |
| 5 | ₹55,848 | ₹1,52,424 |
| 6 | ₹60,785 | ₹1,47,487 |
| 7 | ₹66,158 | ₹1,42,114 |
| 8 | ₹72,005 | ₹1,36,267 |
| 9 | ₹78,370 | ₹1,29,902 |
| 10 | ₹85,297 | ₹1,22,975 |
| 11 | ₹92,837 | ₹1,15,435 |
| 12 | ₹1,01,042 | ₹1,07,230 |
| 13 | ₹1,09,974 | ₹98,298 |
| 14 | ₹1,19,694 | ₹88,578 |
| 15 | ₹1,30,274 | ₹77,998 |
| 16 | ₹1,41,789 | ₹66,483 |
| 17 | ₹1,54,322 | ₹53,950 |
| 18 | ₹1,67,963 | ₹40,309 |
| 19 | ₹1,82,809 | ₹25,463 |
| 20 | ₹1,98,968 | ₹9,304 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹39,799 | ₹1,68,473 | ₹19,60,201 |
| 2 | ₹43,317 | ₹1,64,955 | ₹19,16,885 |
| 3 | ₹47,145 | ₹1,61,127 | ₹18,69,739 |
| 4 | ₹51,313 | ₹1,56,959 | ₹18,18,426 |
| 5 | ₹55,848 | ₹1,52,424 | ₹17,62,578 |
| 6 | ₹60,785 | ₹1,47,487 | ₹17,01,794 |
| 7 | ₹66,158 | ₹1,42,114 | ₹16,35,636 |
| 8 | ₹72,005 | ₹1,36,267 | ₹15,63,631 |
| 9 | ₹78,370 | ₹1,29,902 | ₹14,85,261 |
| 10 | ₹85,297 | ₹1,22,975 | ₹13,99,964 |
| 11 | ₹92,837 | ₹1,15,435 | ₹13,07,127 |
| 12 | ₹1,01,042 | ₹1,07,230 | ₹12,06,085 |
| 13 | ₹1,09,974 | ₹98,298 | ₹10,96,111 |
| 14 | ₹1,19,694 | ₹88,578 | ₹9,76,417 |
| 15 | ₹1,30,274 | ₹77,998 | ₹8,46,143 |
| 16 | ₹1,41,789 | ₹66,483 | ₹7,04,353 |
| 17 | ₹1,54,322 | ₹53,950 | ₹5,50,031 |
| 18 | ₹1,67,963 | ₹40,309 | ₹3,82,068 |
| 19 | ₹1,82,809 | ₹25,463 | ₹1,99,259 |
| 20 | ₹1,98,968 | ₹9,304 | ₹291 |
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.