🏠 Home Loan Amortization Schedule
Interest rate range: 8.35% - 9.65% p.a. - Tenure: 5 - 30 years
Monthly EMI
Rs. 43,391
Rs. 50.00 lakh at 8.5%
Total Interest
Rs. 54.14 lakh
20 year term
Total Repayment
Rs. 1.04 crore
Principal + Interest
Adjust to your loan details
Loan type
Monthly EMI
₹43,391
Total Interest
₹54.1L
51.99% of total
Total Repayment
₹1.0Cr
Break-even Year
N/A
principal > interest
Amortization Schedule
240 EMIs total
Principal vs Interest paid each year
| Year | Opening Balance | Principal Paid | Interest Paid | Closing Balance | % Paid off |
|---|---|---|---|---|---|
| 1 | ₹50.00 L | ₹99,511 | ₹4.21 L | ₹49.00 L | 2% |
| 2 | ₹49.00 L | ₹1.08 L | ₹4.12 L | ₹47.92 L | 4% |
| 3 | ₹47.92 L | ₹1.18 L | ₹4.03 L | ₹46.74 L | 7% |
| 4 | ₹46.74 L | ₹1.28 L | ₹3.92 L | ₹45.46 L | 9% |
| 5 | ₹45.46 L | ₹1.40 L | ₹3.81 L | ₹44.06 L | 12% |
Home Loan - Key Facts
- -Longest tenure of all loan types - up to 30 years
- -Secured loan - property is the collateral
- -Floating rates linked to RBI repo rate (RLLR loans)
- -Part-prepayment is free for floating rate home loans
- -EMI stays constant; tenure reduces when rate drops
Tax Benefit
Principal repayment: Section 80C up to Rs. 1.5 lakh/year. Interest: Section 24(b) up to Rs. 2 lakh/year (old regime).
Frequently Asked Questions
What is the EMI on a Rs. 50.00 lakh home loan at 8.5%?▾
For a Rs. 50.00 lakh home loan at 8.5% p.a. for 20 years, the monthly EMI is Rs. 43,391. Total repayment is Rs. 1.04 crore, of which Rs. 54.14 lakh is interest. The principal is Rs. 50.00 lakh.
What is the current home loan interest rate?▾
Home Loan interest rates currently range from 8.35% - 9.65% p.a. depending on the lender, loan amount, tenure, and your credit score. Major lenders include SBI, HDFC, ICICI, LIC Housing, Axis Bank, Kotak. Check the current rate directly with your lender before applying.
Is there a tax benefit on home loan?▾
Principal repayment: Section 80C up to Rs. 1.5 lakh/year. Interest: Section 24(b) up to Rs. 2 lakh/year (old regime).