Home Loan EMI on ₹35L at 8.5% for 10 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹43,395
Total Interest
₹17,07,400
Total Payment
₹52,07,400
Your monthly home loan EMI is ₹43,395. Over 10 years, you pay ₹17,07,400 in interest — that's 49% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹2,32,146 | ₹2,88,594 |
| 2 | ₹2,52,665 | ₹2,68,075 |
| 3 | ₹2,74,999 | ₹2,45,741 |
| 4 | ₹2,99,306 | ₹2,21,434 |
| 5 | ₹3,25,762 | ₹1,94,978 |
| 6 | ₹3,54,556 | ₹1,66,184 |
| 7 | ₹3,85,896 | ₹1,34,844 |
| 8 | ₹4,20,006 | ₹1,00,734 |
| 9 | ₹4,57,130 | ₹63,610 |
| 10 | ₹4,97,535 | ₹23,204 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹2,32,146 | ₹2,88,594 | ₹32,67,854 |
| 2 | ₹2,52,665 | ₹2,68,075 | ₹30,15,189 |
| 3 | ₹2,74,999 | ₹2,45,741 | ₹27,40,190 |
| 4 | ₹2,99,306 | ₹2,21,434 | ₹24,40,884 |
| 5 | ₹3,25,762 | ₹1,94,978 | ₹21,15,123 |
| 6 | ₹3,54,556 | ₹1,66,184 | ₹17,60,566 |
| 7 | ₹3,85,896 | ₹1,34,844 | ₹13,74,670 |
| 8 | ₹4,20,006 | ₹1,00,734 | ₹9,54,665 |
| 9 | ₹4,57,130 | ₹63,610 | ₹4,97,535 |
| 10 | ₹4,97,535 | ₹23,204 | ₹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.