Home Loan EMI on ₹45L at 8.5% for 15 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹44,313
Total Interest
₹34,76,340
Total Payment
₹79,76,340
Your monthly home loan EMI is ₹44,313. Over 15 years, you pay ₹34,76,340 in interest — that's 77% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹1,55,210 | ₹3,76,546 |
| 2 | ₹1,68,929 | ₹3,62,827 |
| 3 | ₹1,83,861 | ₹3,47,895 |
| 4 | ₹2,00,113 | ₹3,31,643 |
| 5 | ₹2,17,801 | ₹3,13,955 |
| 6 | ₹2,37,053 | ₹2,94,703 |
| 7 | ₹2,58,006 | ₹2,73,750 |
| 8 | ₹2,80,811 | ₹2,50,945 |
| 9 | ₹3,05,633 | ₹2,26,123 |
| 10 | ₹3,32,648 | ₹1,99,108 |
| 11 | ₹3,62,051 | ₹1,69,705 |
| 12 | ₹3,94,053 | ₹1,37,703 |
| 13 | ₹4,28,883 | ₹1,02,873 |
| 14 | ₹4,66,793 | ₹64,963 |
| 15 | ₹5,08,053 | ₹23,703 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹1,55,210 | ₹3,76,546 | ₹43,44,790 |
| 2 | ₹1,68,929 | ₹3,62,827 | ₹41,75,860 |
| 3 | ₹1,83,861 | ₹3,47,895 | ₹39,91,999 |
| 4 | ₹2,00,113 | ₹3,31,643 | ₹37,91,886 |
| 5 | ₹2,17,801 | ₹3,13,955 | ₹35,74,085 |
| 6 | ₹2,37,053 | ₹2,94,703 | ₹33,37,032 |
| 7 | ₹2,58,006 | ₹2,73,750 | ₹30,79,026 |
| 8 | ₹2,80,811 | ₹2,50,945 | ₹27,98,215 |
| 9 | ₹3,05,633 | ₹2,26,123 | ₹24,92,582 |
| 10 | ₹3,32,648 | ₹1,99,108 | ₹21,59,934 |
| 11 | ₹3,62,051 | ₹1,69,705 | ₹17,97,884 |
| 12 | ₹3,94,053 | ₹1,37,703 | ₹14,03,831 |
| 13 | ₹4,28,883 | ₹1,02,873 | ₹9,74,947 |
| 14 | ₹4,66,793 | ₹64,963 | ₹5,08,154 |
| 15 | ₹5,08,053 | ₹23,703 | ₹101 |
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.