Home Loan EMI on ₹75L at 8% for 10 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹90,996
Total Interest
₹34,19,520
Total Payment
₹1,09,19,520
Your monthly home loan EMI is ₹90,996. Over 10 years, you pay ₹34,19,520 in interest — that's 46% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹5,10,397 | ₹5,81,555 |
| 2 | ₹5,52,760 | ₹5,39,192 |
| 3 | ₹5,98,639 | ₹4,93,313 |
| 4 | ₹6,48,325 | ₹4,43,627 |
| 5 | ₹7,02,136 | ₹3,89,816 |
| 6 | ₹7,60,413 | ₹3,31,539 |
| 7 | ₹8,23,527 | ₹2,68,425 |
| 8 | ₹8,91,879 | ₹2,00,073 |
| 9 | ₹9,65,905 | ₹1,26,047 |
| 10 | ₹10,46,019 | ₹45,878 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹5,10,397 | ₹5,81,555 | ₹69,89,603 |
| 2 | ₹5,52,760 | ₹5,39,192 | ₹64,36,843 |
| 3 | ₹5,98,639 | ₹4,93,313 | ₹58,38,204 |
| 4 | ₹6,48,325 | ₹4,43,627 | ₹51,89,879 |
| 5 | ₹7,02,136 | ₹3,89,816 | ₹44,87,743 |
| 6 | ₹7,60,413 | ₹3,31,539 | ₹37,27,330 |
| 7 | ₹8,23,527 | ₹2,68,425 | ₹29,03,803 |
| 8 | ₹8,91,879 | ₹2,00,073 | ₹20,11,924 |
| 9 | ₹9,65,905 | ₹1,26,047 | ₹10,46,019 |
| 10 | ₹10,46,019 | ₹45,878 | ₹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.