Home Loan Calculator
Calculate your home loan EMI, total interest, and repayment schedule. Plan your dream home purchase with accurate calculations.
Loan Details
₹
₹5 Lakh₹5 Crore
6%15%
Tax Benefits: Interest up to ₹2 lakhs is deductible under Section 24(b) for self-occupied property. Principal repayment qualifies under Section 80C (up to ₹1.5 lakhs).
EMI Details
₹44.19 KMonthly EMI
Principal₹50.00 L
Total Interest₹56.05 L
Total Payment₹1.06 Cr
₹44.19 K
Monthly EMI
112%
Interest on Principal
240
Total EMIs
₹3.50 L
Annual Tax Benefit
Year-wise Repayment Schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹96.54 K | ₹4.34 L | ₹49.03 L |
| 2 | ₹1.05 L | ₹4.25 L | ₹47.98 L |
| 3 | ₹1.15 L | ₹4.15 L | ₹46.83 L |
| 4 | ₹1.25 L | ₹4.05 L | ₹45.58 L |
| 5 | ₹1.37 L | ₹3.93 L | ₹44.21 L |
| 6 | ₹1.49 L | ₹3.81 L | ₹42.72 L |
| 7 | ₹1.63 L | ₹3.67 L | ₹41.09 L |
| 8 | ₹1.78 L | ₹3.53 L | ₹39.31 L |
| 9 | ₹1.94 L | ₹3.36 L | ₹37.37 L |
| 10 | ₹2.12 L | ₹3.19 L | ₹35.26 L |
| ... and 10 more years | |||
Home Loan Tax Benefits
Section 24(b) - Interest
Deduction on home loan interest for self-occupied property
Maximum Limit₹2,00,000/year
Your Benefit (approx)₹2.00 L
Section 80C - Principal
Deduction on principal repayment (part of overall 80C limit)
Maximum Limit₹1,50,000/year
Your Benefit (approx)₹1.50 L
Frequently Asked Questions
Home Loan Guide
A home loan helps you finance your dream home by spreading the cost over several years. Understanding EMI calculations and repayment schedules is crucial for making informed decisions.
EMI Formula
EMI = P × r × (1+r)^n / ((1+r)^n - 1)
Where P = Principal, r = monthly interest rate, n = number of months
Tips for Home Loan
- Compare interest rates from multiple banks
- Consider floating vs fixed rate based on market conditions
- Make prepayments when possible to reduce interest
- Maintain a good credit score for better rates
- Factor in processing fees, insurance, and other charges