Housing Loan
Home Loan EMI Calculator
Calculate your monthly home loan EMI, total interest outflow, total payment schedule, and annual income tax benefits under Section 24(b) (interest) and Section 80C (principal repayment).
Loan Parameters Housing Finance
e.g. ₹45 Lakhs property loan.
Repayment Summary
Monthly EMI
₹ 39,052
Total Interest Payable:
₹ 48,72,551
Total Payment (Principal + Interest):
₹ 93,72,551
Estimated Annual Tax Savings:
₹ 1,09,200
Tax Saving Clauses:
Under Old Regime: Section 24(b) permits interest deduction up to ₹2,00,000 p.a. for self-occupied homes. Section 80C allows principal repayment deduction up to ₹1,50,000 p.a.
Understanding Home Loan EMI Calculation
Home loan EMIs are computed using the monthly reducing balance method. With every payment, an increasing portion of your EMI goes towards repaying the principal while the interest component gradually declines over the tenure.
EMI = [P × r × (1 + r)^n] / [((1 + r)^n) - 1]
Opting for higher down payments and shorter tenures significantly reduces the overall interest burden over 15 to 30 years.