Calculate housing loan EMI, total payable interest, and view full repayment amortization breakdown.
| Year | Principal Paid | Interest Paid | Remaining Outstanding Balance |
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A home loan is a secured loan offered by financial institutions to purchase or construct real estate properties. The property acts as collateral until the entire loan is repaid through monthly Equated Monthly Installments (EMIs).
EMI is calculated using formula: E = [P × r × (1+r)^n] / [(1+r)^n - 1], where P = Principal loan amount, r = Monthly interest rate, and n = Loan tenure in months.
In India, home loan principal repayment qualifies for deductions up to ₹1.5 Lakh under Section 80C, while home loan interest paid qualifies for up to ₹2 Lakh under Section 24(b).
Partial prepayments directly reduce the principal balance, substantially lowering total interest burden and shortening tenure.
Most Indian banks offer home loan tenures up to 30 years, depending on the borrower's retirement age and income profile.
LTV ratio represents the portion of the property cost banks can finance, generally ranging between 75% to 90% of property market value.