Home Loan Calculator
Plan your dream home with ease. Enter your required loan amount, interest rate, and preferred tenure to instantly calculate your monthly EMI and view the complete amortization schedule.
Loan Details
Payment Breakdown
Yearly Amortization Schedule
Year-wise breakdown of Principal, Interest, and Remaining Balance.
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| Year | Total EMI Paid | Principal Paid | Interest Paid | Closing Balance |
|---|
How Home Loan EMIs Work
A Home Loan EMI (Equated Monthly Installment) consists of two parts: the principal repayment and the interest payment. While your monthly EMI amount remains constant throughout the tenure, the proportion of principal to interest changes over time.
Initial Years vs. Later Years
In the early years of your home loan, a massive chunk of your EMI goes entirely toward paying the interest. Because the outstanding principal is high, the interest calculated on it is also high. As the years progress and the principal balance reduces, the interest component shrinks, and more of your EMI starts chipping away at the principal debt.
Home Loan Tax Benefits in India
Taking a home loan provides substantial tax relief under the Income Tax Act:
- Section 80C: You can claim a deduction of up to ₹1.5 Lakhs on the Principal repayment component of your EMI.
- Section 24(b): You can claim a deduction of up to ₹2 Lakhs on the Interest payment component for a self-occupied property.