Home loan EMI calculator, with the tax you save
Enter your loan, rate and tenure. See the EMI, and the tax saved in the first year on interest and principal.
- Tax benefit included
- Year-by-year schedule
- Free, no sign-up
Get the full tax benefit on your home
Our experts check interest, principal, joint ownership and pre-construction interest, so you claim everything you're allowed.
Questions people often ask
Can my wife and I both claim the home loan benefit?
Yes, if you're both owners and both pay the EMI. Each can claim up to ₹2 lakh interest and ₹1.5 lakh under 80C.
Does the new regime allow home loan interest?
Not for a home you live in. For a rented-out home, interest is deductible against the rent, but a loss can't be set off against your salary.
Home loan tax benefits
For a home you live in.
| What you pay | Old regime | New regime |
|---|---|---|
| Interest (24b) | Up to ₹2 lakh | None |
| Principal (80C) | Within ₹1.5 lakh | None |
Last reviewed 8 October 2026. The rules in this calculator come from these official sources.
- Tax rules for salaried individuals, AY 2026-27 Income Tax Department
- Reserve Bank of India: loans and deposits Reserve Bank of India
Common questions
How much home loan interest is tax-free?
Under the old regime, up to ₹2 lakh a year for a home you live in, under section 24(b). Under the new regime, nothing for a self-occupied home.
Does principal repayment save tax?
Yes, under 80C in the old regime, within the ₹1.5 lakh limit shared with PF, PPF, insurance and others.
What is the EMI on a ₹50 lakh home loan?
At 8.5% for 20 years, about ₹43,391 a month.
Is it worth choosing the old regime for a home loan?
Often, when interest and other deductions are large. Compare both with the income tax calculator.
Can I claim interest before I get possession?
Yes. Interest paid before completion is claimed in 5 equal parts, starting the year you get possession, within the ₹2 lakh limit.
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Use your ₹1.5 lakh 80C limit well.
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