Home Loan EMI Calculator
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Home Loan EMI Calculator
Calculate your monthly home loan installment, compare bank interest benchmarks, and model prepayment savings.
$
(20%)
$1,000,000Loan Amount: $4,000,00080% Max
Current Bank Benchmarks (Click to apply):
Years
1 Year30 Years (360 Months)
Prepayment / Foreclosure Modeling
Simulate partial prepayments to cut years and save thousands in interest.
Monthly Home Loan Installment
$34,713
Loan: $4,000,000 • Down Payment: $1,000,000
Total Interest$4,331,10352.0% of total
Total Repayment$8,331,10348.0% principal
Tax Deductions (Sec 24b & 80C)
~$105,000/ year estimated
Includes up to ₹2 Lakh interest deduction (Sec 24b) and ₹1.5 Lakh principal (Sec 80C).
Home Loan Amortization Schedule (Yearly)
20 Years| Year | Principal Repaid | Interest Paid | Total Installments | Est. Tax Benefit | Ending Balance |
|---|---|---|---|---|---|
| Year 1 | $79,609 | $336,946 | $416,555 | ~$83,883 | $3,920,391 |
| Year 2 | $86,646 | $329,909 | $416,555 | ~$85,994 | $3,833,745 |
| Year 3 | $94,305 | $322,251 | $416,555 | ~$88,291 | $3,739,440 |
| Year 4 | $102,640 | $313,915 | $416,555 | ~$90,792 | $3,636,800 |
| Year 5 | $111,713 | $304,842 | $416,555 | ~$93,514 | $3,525,087 |
| Year 6 | $121,587 | $294,968 | $416,555 | ~$96,476 | $3,403,500 |
| Year 7 | $132,334 | $284,221 | $416,555 | ~$99,700 | $3,271,166 |
| Year 8 | $144,031 | $272,524 | $416,555 | ~$103,209 | $3,127,134 |
| Year 9 | $156,763 | $259,793 | $416,555 | ~$105,000 | $2,970,372 |
| Year 10 | $170,619 | $245,936 | $416,555 | ~$105,000 | $2,799,753 |
| Year 11 | $185,700 | $230,855 | $416,555 | ~$105,000 | $2,614,053 |
| Year 12 | $202,114 | $214,441 | $416,555 | ~$105,000 | $2,411,939 |
| Year 13 | $219,979 | $196,576 | $416,555 | ~$103,973 | $2,191,959 |
| Year 14 | $239,424 | $177,132 | $416,555 | ~$98,139 | $1,952,536 |
| Year 15 | $260,586 | $155,969 | $416,555 | ~$91,791 | $1,691,949 |
| Year 16 | $283,620 | $132,935 | $416,555 | ~$84,881 | $1,408,329 |
| Year 17 | $308,689 | $107,866 | $416,555 | ~$77,360 | $1,099,640 |
| Year 18 | $335,975 | $80,581 | $416,555 | ~$69,174 | $763,665 |
| Year 19 | $365,672 | $50,883 | $416,555 | ~$60,265 | $397,994 |
| Year 20 | $397,994 | $18,561 | $416,555 | ~$50,568 | $0 |
Tax Provisions & RBI Guidelines
• Section 24(b): Allows deduction up to ₹2,00,000 per financial year against home loan interest paid for a self-occupied property.
• Section 80C: Allows deduction up to ₹1,50,000 for principal repayment (subject to overall Section 80C limit).
• RBI Floating Rate Norm: As per RBI circulars, banks and HFCs cannot levy prepayment foreclosure penalties on floating-rate individual home loans.
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