Home Loan EMI on ₹45L at 10.5% for 10 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹60,721
Total Interest
₹27,86,520
Total Payment
₹72,86,520
Your monthly home loan EMI is ₹60,721. Over 10 years, you pay ₹27,86,520 in interest — that's 62% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹2,68,846 | ₹4,59,806 |
| 2 | ₹2,98,474 | ₹4,30,178 |
| 3 | ₹3,31,367 | ₹3,97,285 |
| 4 | ₹3,67,884 | ₹3,60,768 |
| 5 | ₹4,08,427 | ₹3,20,225 |
| 6 | ₹4,53,437 | ₹2,75,215 |
| 7 | ₹5,03,407 | ₹2,25,245 |
| 8 | ₹5,58,884 | ₹1,69,768 |
| 9 | ₹6,20,475 | ₹1,08,177 |
| 10 | ₹6,88,800 | ₹39,799 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹2,68,846 | ₹4,59,806 | ₹42,31,154 |
| 2 | ₹2,98,474 | ₹4,30,178 | ₹39,32,680 |
| 3 | ₹3,31,367 | ₹3,97,285 | ₹36,01,314 |
| 4 | ₹3,67,884 | ₹3,60,768 | ₹32,33,429 |
| 5 | ₹4,08,427 | ₹3,20,225 | ₹28,25,003 |
| 6 | ₹4,53,437 | ₹2,75,215 | ₹23,71,566 |
| 7 | ₹5,03,407 | ₹2,25,245 | ₹18,68,159 |
| 8 | ₹5,58,884 | ₹1,69,768 | ₹13,09,275 |
| 9 | ₹6,20,475 | ₹1,08,177 | ₹6,88,800 |
| 10 | ₹6,88,800 | ₹39,799 | ₹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.