Home Loan EMI on ₹60L at 9% for 15 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹60,856
Total Interest
₹49,54,080
Total Payment
₹1,09,54,080
Your monthly home loan EMI is ₹60,856. Over 15 years, you pay ₹49,54,080 in interest — that's 83% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹1,98,320 | ₹5,31,952 |
| 2 | ₹2,16,924 | ₹5,13,348 |
| 3 | ₹2,37,273 | ₹4,92,999 |
| 4 | ₹2,59,531 | ₹4,70,741 |
| 5 | ₹2,83,877 | ₹4,46,395 |
| 6 | ₹3,10,506 | ₹4,19,766 |
| 7 | ₹3,39,634 | ₹3,90,638 |
| 8 | ₹3,71,494 | ₹3,58,778 |
| 9 | ₹4,06,343 | ₹3,23,929 |
| 10 | ₹4,44,460 | ₹2,85,812 |
| 11 | ₹4,86,154 | ₹2,44,118 |
| 12 | ₹5,31,758 | ₹1,98,514 |
| 13 | ₹5,81,641 | ₹1,48,631 |
| 14 | ₹6,36,203 | ₹94,069 |
| 15 | ₹6,95,881 | ₹34,389 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹1,98,320 | ₹5,31,952 | ₹58,01,680 |
| 2 | ₹2,16,924 | ₹5,13,348 | ₹55,84,756 |
| 3 | ₹2,37,273 | ₹4,92,999 | ₹53,47,483 |
| 4 | ₹2,59,531 | ₹4,70,741 | ₹50,87,952 |
| 5 | ₹2,83,877 | ₹4,46,395 | ₹48,04,075 |
| 6 | ₹3,10,506 | ₹4,19,766 | ₹44,93,569 |
| 7 | ₹3,39,634 | ₹3,90,638 | ₹41,53,935 |
| 8 | ₹3,71,494 | ₹3,58,778 | ₹37,82,441 |
| 9 | ₹4,06,343 | ₹3,23,929 | ₹33,76,098 |
| 10 | ₹4,44,460 | ₹2,85,812 | ₹29,31,638 |
| 11 | ₹4,86,154 | ₹2,44,118 | ₹24,45,484 |
| 12 | ₹5,31,758 | ₹1,98,514 | ₹19,13,725 |
| 13 | ₹5,81,641 | ₹1,48,631 | ₹13,32,084 |
| 14 | ₹6,36,203 | ₹94,069 | ₹6,95,881 |
| 15 | ₹6,95,881 | ₹34,389 | ₹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.