Home Loan EMI on ₹35L at 8% for 20 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹29,275
Total Interest
₹35,26,000
Total Payment
₹70,26,000
Your monthly home loan EMI is ₹29,275. Over 20 years, you pay ₹35,26,000 in interest — that's 101% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹73,973 | ₹2,77,327 |
| 2 | ₹80,113 | ₹2,71,187 |
| 3 | ₹86,762 | ₹2,64,538 |
| 4 | ₹93,964 | ₹2,57,336 |
| 5 | ₹1,01,763 | ₹2,49,537 |
| 6 | ₹1,10,209 | ₹2,41,091 |
| 7 | ₹1,19,356 | ₹2,31,944 |
| 8 | ₹1,29,263 | ₹2,22,037 |
| 9 | ₹1,39,991 | ₹2,11,309 |
| 10 | ₹1,51,611 | ₹1,99,689 |
| 11 | ₹1,64,194 | ₹1,87,106 |
| 12 | ₹1,77,822 | ₹1,73,478 |
| 13 | ₹1,92,581 | ₹1,58,719 |
| 14 | ₹2,08,565 | ₹1,42,735 |
| 15 | ₹2,25,876 | ₹1,25,424 |
| 16 | ₹2,44,624 | ₹1,06,676 |
| 17 | ₹2,64,928 | ₹86,372 |
| 18 | ₹2,86,916 | ₹64,384 |
| 19 | ₹3,10,730 | ₹40,570 |
| 20 | ₹3,36,521 | ₹14,779 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹73,973 | ₹2,77,327 | ₹34,26,027 |
| 2 | ₹80,113 | ₹2,71,187 | ₹33,45,914 |
| 3 | ₹86,762 | ₹2,64,538 | ₹32,59,151 |
| 4 | ₹93,964 | ₹2,57,336 | ₹31,65,188 |
| 5 | ₹1,01,763 | ₹2,49,537 | ₹30,63,425 |
| 6 | ₹1,10,209 | ₹2,41,091 | ₹29,53,216 |
| 7 | ₹1,19,356 | ₹2,31,944 | ₹28,33,860 |
| 8 | ₹1,29,263 | ₹2,22,037 | ₹27,04,598 |
| 9 | ₹1,39,991 | ₹2,11,309 | ₹25,64,606 |
| 10 | ₹1,51,611 | ₹1,99,689 | ₹24,12,996 |
| 11 | ₹1,64,194 | ₹1,87,106 | ₹22,48,802 |
| 12 | ₹1,77,822 | ₹1,73,478 | ₹20,70,979 |
| 13 | ₹1,92,581 | ₹1,58,719 | ₹18,78,398 |
| 14 | ₹2,08,565 | ₹1,42,735 | ₹16,69,833 |
| 15 | ₹2,25,876 | ₹1,25,424 | ₹14,43,956 |
| 16 | ₹2,44,624 | ₹1,06,676 | ₹11,99,332 |
| 17 | ₹2,64,928 | ₹86,372 | ₹9,34,405 |
| 18 | ₹2,86,916 | ₹64,384 | ₹6,47,488 |
| 19 | ₹3,10,730 | ₹40,570 | ₹3,36,758 |
| 20 | ₹3,36,521 | ₹14,779 | ₹237 |
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.