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Home loan calculator.
The EMI on the house you want, how much of the early payments is only interest, and the tax the old regime lets you claim on it.
Banks lend 75% to 90% of the value, depending on the size of the loan.
Set 0 if you are in the new regime: it gives no home loan deduction on a home you live in.
Every month you pay
₹55,541
On a loan of ₹64.0 L. In the first year, 81% of what you pay is interest.
Year 20 · Loan repaid ₹6.4 L · Interest ₹29,698
- Loan
- ₹64,00,000
- Total interest
- ₹69,29,765
- Interest in year one
- ₹5,39,114
- Principal in year one
- ₹1,27,375
- Tax saved in year one
- ₹1,02,141
How it adds up
- Price of the home₹80,00,000
- minus20% you put down₹16,00,000
- equalsLoan₹64,00,000
- plusInterest at 8.5%₹69,29,765
- equalsYou repay in all₹1,33,29,765
- divided by240 months, so each EMI₹55,541
What this assumes
A floating rate that stays where you set it. In the old regime, interest on a home you live in is deductible up to ₹2 lakh a year and principal counts towards the ₹1.5 lakh 80C limit, which your PF may already fill. The new regime gives neither. Leaves out stamp duty, registration and the loan's processing fee.
Rules and rates from
- Income Tax Department (opens in a new tab)
- Reserve Bank of India (opens in a new tab)
- The reducing-balance EMI formula banks use
Education only, not investment, tax or legal advice. I am not a SEBI-registered investment adviser.
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