Home Loan EMI Calculator including Principal and Interest Breakup

Loan Amount (P)

3000000

Interest Rate

10.75

Interest Rate in % per Month ( r )

0.008958333

Tenure: No. Of Installments (Years)

10

Tenure: No. Of Installments (Months) (n)

120

Processing Fee (0.5%)

15000

Total Interest Amount payable by the end of tenure

3225000

Interest Potion in EMI Amount

322500

Pre-payment Fee

1+r

1.0

(1+r)^n

2.9

((1+r)^n – 1)

1.9

P*r

26875

EMI

40902

Total Interest Amount payable by the end of tenure

1908192

Total Interest Amount payable in EMI

15902

Overall (principal + Interest) Amount payable by the end of tenure

4908192

Calculations at the end of the loan closure

Home Loan

3000000

Home Loan Interest

1908192

Overall Cost of the home

4908192

Rent you might earn during the loan period (that can be counted in for EMI)

2400000

Net EMI you need to pay

20902

Net worth of the home costing you after deducting the rent earned

2508192

Benefit of rent amount surparsing the interest amount

491808

Benefit of Tax exemption for the principal amount (1 Lac per annum)

20000

Benefit of Tax exemption for the Interest amount (1.5 Lac per annum)

30000

Overall Principal and Interest Tax benefit at the end of tenure

500000

Net worth of the home costing you after deducting the tax benefits as well

2008192