Monthly EMI, total interest, tax savings under Sec 24(b) & 80C, amortization table — all live
Loan Amount
₹
Interest Rate
8.50%
Loan Tenure
20 yrs
Processing Fee
%
Tax Benefit (Old Regime Only)
Monthly EMI
₹0
enter loan amount above
Principal
₹0
Total Interest
₹0
Total Payable
₹0
Effective Cost %
0.0%
📈 Tax Benefit Analysis — Old Regime
Sec 24(b) Annual Tax Saving
₹0
Interest deduction up to ₹2L/yr
Sec 80C Annual Tax Saving
₹0
Principal repayment up to ₹1.5L/yr
Net Effective EMI (after tax benefit)
₹0
ⓘ Tax benefits available only under the Old Tax Regime. Self-occupied property. Sec 24(b) max ₹2L/yr. Sec 80C max ₹1.5L/yr (shared with other 80C investments).
₹0
Total Payable
Principal
₹0
Total Interest
₹0
Processing Fee
₹0
Interest / Principal ratio: —
Year-by-Year Amortization
Year
Principal Paid
Interest Paid
Tax Saved
Outstanding
%
mos
Current Outstanding Balance₹0
Current Remaining EMI₹0
New EMI at New Rate₹0
EMI Reduction per Month₹0
Total Interest Saved₹0
ⓘ EMI calculated using: P × r × (1+r)^n ÷ ((1+r)^n − 1). Tax benefit based on Old Regime. Actual benefits depend on your total 80C investments. Consult your lender and CA for exact figures.
📄 Your Personalised Report Is Ready
Total interest you pay
Tax saving per year (Old Regime)
Net EMI after tax benefit
✓ Dark cover with your EMI
✓ Interest vs principal chart
✓ Full amortization table
✓ Tax optimization strategy
✓ Prepayment impact analysis
✓ Numbered action steps
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Frequently Asked Questions
How is home loan EMI calculated? +
Home loan EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P = principal, r = monthly rate (annual% ÷ 12 ÷ 100), n = tenure in months. Example: ₹50L loan at 8.5% for 20 years → r = 0.085/12 = 0.00708, n = 240 → EMI ≈ ₹43,391/month.
What is the tax benefit on home loan interest? +
Under Old Regime: Sec 24(b) allows deduction up to ₹2 lakh/year on interest for self-occupied property. Sec 80C allows principal repayment (up to ₹1.5L/year, shared with PF/ELSS/LIC). These benefits are not available under the New Tax Regime. For a 30% slab taxpayer, ₹2L interest deduction saves ₹62,400/year.
Should I choose a shorter or longer home loan tenure? +
Shorter tenure = higher EMI but far less total interest. Example: ₹50L at 8.5% — 10-year tenure saves ~₹38L in interest vs 25-year tenure, but EMI is ₹62K vs ₹40K. Rule of thumb: if EMI is under 40% of take-home pay, choose the shortest tenure you can comfortably afford.
When does home loan balance transfer make sense? +
Balance transfer is beneficial when: (1) new rate is at least 0.5% lower, (2) you are in the first half of the loan tenure (when interest component is highest), and (3) the savings exceed the processing fee within 12–18 months. Use the Balance Transfer section above to compute exact savings for your loan.
What is the difference between fixed and floating home loan rates? +
Fixed rate stays constant (certainty but 1–2% higher). Floating rate changes with RBI repo rate (lower now but can rise). Most Indian home loans are floating, linked to EBLR. Fixed rate suits borrowers with tight monthly budgets who need payment certainty. Floating suits those who expect rates to fall or plan to prepay.