Global economic slowdown and a crashing real estate market might make Union Finance Minister offer concessions that could help breathe life into the gasping sector.
Sources indicate that the income tax exemption limit for interest payment of home loans could be increased to Rs 2.5 lakh (Rs 250,000) from Rs 1.5 lakh (Rs 150,000) for the upcoming fiscal year. Such a concession will help the common man greatly.
Meanwhile, given below is a table explaining how the repayment of your home loan EMI reduces your loan amount during the repayment period leading up to the end of the loan tenure.
|
|
Amount in Rs |
|
Interest rate type |
Monthly rest |
|
Annualized interest rate |
12.00% |
|
Tenure of loan in months |
240 |
|
Loan amount |
20 lakh |
|
EMI |
22,022 |
|
Total interest paid |
32.8 lakh |
|
Amortization table | ||||
|
End of month # |
Outstanding amount |
Interest paid this month |
Principal paid this month |
Payment applied this mth |
|
1 |
2,000,000 |
20,000 |
2,022 |
22,022 |
|
2 |
1,997,978 |
19,980 |
2,042 |
22,022 |
|
3 |
1,995,936 |
19,959 |
2,062 |
22,022 |
|
4 |
1,993,874 |
19,939 |
2,083 |
22,022 |
|
5 |
1,991,791 |
19,918 |
2,104 |
22,022 |
|
6 |
1,989,687 |
19,897 |
2,125 |
22,022 |
|
7 |
1,987,562 |
19,876 |
2,146 |
22,022 |
|
8 |
1,985,416 |
19,854 |
2,168 |
22,022 |
|
9 |
1,983,249 |
19,832 |
2,189 |
22,022 |
|
10 |
1,981,059 |
19,811 |
2,211 |
22,022 |
|
11 |
1,978,848 |
19,788 |
2,233 |
22,022 |
|
12 |
1,976,615 |
19,766 |
2,256 |
22,022 |
|
13 |
1,974,359 |
19,744 |
2,278 |
22,022 |
|
14 |
1,972,081 |
19,721 |
2,301 |
22,022 |
|
15 |
1,969,780 |
19,698 |
2,324 |
22,022 |
|
16 |
1,967,457 |
19,675 |
2,347 |
22,022 |
|
17 |
1,965,109 |
19,651 |
2,371 |
22,022 |
|
18 |
1,962,739 |
19,627 |
2,394 |
22,022 |
|
19 |
1,960,344 |
19,603 |
2,418 |
22,022 |
|
20 |
1,957,926 |
19,579 |
2,442 |
22,022 |
|
21 |
1,955,484 |
19,555 |
2,467 |
22,022 |
|
22 |
1,953,017 |
19,530 |
2,492 |
22,022 |
|
23 |
1,950,525 |
19,505 |
2,516 |
22,022 |
|
24 |
1,948,009 |
19,480 |
2,542 |
22,022 |
|
25 |
1,945,467 |
19,455 |
2,567 |
22,022 |
|
26 |
1,942,900 |
19,429 |
2,593 |
22,022 |
|
27 |
1,940,307 |
19,403 |
2,619 |
22,022 |
|
28 |
1,937,689 |
19,377 |
2,645 |
22,022 |
|
29 |
1,935,044 |
19,350 |
2,671 |
22,022 |
|
30 |
1,932,373 |
19,324 |
2,698 |
22,022 |
|
31 |
1,929,675 |
19,297 |
2,725 |
22,022 |
|
32 |
1,926,950 |
19,269 |
2,752 |
22,022 |
|
33 |
1,924,197 |
19,242 |
2,780 |
22,022 |
|
34 |
1,921,418 |
19,214 |
2,808 |
22,022 |
|
35 |
1,918,610 |
19,186 |
2,836 |
22,022 |
|
36 |
1,915,774 |
19,158 |
2,864 |
22,022 |
|
37 |
1,912,910 |
19,129 |
2,893 |
22,022 |
|
38 |
1,910,018 |
19,100 |
2,922 |
22,022 |
|
39 |
1,907,096 |
19,071 |
2,951 |
22,022 |
|
40 |
1,904,146 |
19,041 |
2,980 |
22,022 |
|
41 |
1,901,165 |
19,012 |
3,010 |
22,022 |
|
42 |
1,898,155 |
18,982 |
3,040 |
22,022 |
|
43 |
1,895,115 |
18,951 |
3,071 |
22,022 |
|
44 |
1,892,044 |
18,920 |
3,101 |
22,022 |
|
45 |
1,888,943 |
18,889 |
3,132 |
22,022 |
|
46 |
1,885,811 |
18,858 |
3,164 |
22,022 |
|
47 |
1,882,647 |
18,826 |
3,195 |
22,022 |
|
48 |
1,879,452 |
18,795 |
3,227 |
22,022 |
|
49 |
1,876,225 |
18,762 |
3,259 |
22,022 |
|
50 |
1,872,965 |
18,730 |
3,292 |
22,022 |
|
51 |
1,869,673 |
18,697 |
3,325 |
22,022 |
|
52 |
1,866,348 |
18,663 |
3,358 |
22,022 |
|
53 |
1,862,990 |
18,630 |
3,392 |
22,022 |
|
54 |
1,859,598 |
18,596 |
3,426 |
22,022 |
|
55 |
1,856,173 |
18,562 |
3,460 |
22,022 |
|
56 |
1,852,713 |
18,527 |
3,495 |
22,022 |
|
57 |
1,849,218 |
18,492 |
3,530 |
22,022 |
|
58 |
1,845,688 |
18,457 |
3,565 |
22,022 |
|
59 |
1,842,124 |
18,421 |
3,600 |
22,022 |
|
60 |
1,838,523 |
18,385 |
3,636 |
22,022 |
|
61 |
1,834,887 |
18,349 |
3,673 |
22,022 |
|
62 |
1,831,214 |
18,312 |
3,710 |
22,022 |
|
63 |
1,827,504 |
18,275 |
3,747 |
22,022 |
|
64 |
1,823,757 |
18,238 |
3,784 |
22,022 |
|
65 |
1,819,973 |
18,200 |
3,822 |
22,022 |
|
66 |
1,816,151 |
18,162 |
3,860 |
22,022 |
|
67 |
1,812,291 |
18,123 |
3,899 |
22,022 |
|
68 |
1,808,392 |
18,084 |
3,938 |
22,022 |
|
69 |
1,804,454 |
18,045 |
3,977 |
22,022 |
|
70 |
1,800,477 |
18,005 |
4,017 |
22,022 |
|
71 |
1,796,460 |
17,965 |
4,057 |
22,022 |
|
72 |
1,792,403 |
17,924 |
4,098 |
22,022 |
|
73 |
1,788,306 |
17,883 |
4,139 |
22,022 |
|
74 |
1,784,167 |
17,842 |
4,180 |
22,022 |
|
75 |
1,779,987 |
17,800 |
4,222 |
22,022 |
|
76 |
1,775,765 |
17,758 |
4,264 |
22,022 |
|
77 |
1,771,501 |
17,715 |
4,307 |
22,022 |
|
78 |
1,767,194 |
17,672 |
4,350 |
22,022 |
|
79 |
1,762,844 |
17,628 |
4,393 |
22,022 |
|
80 |
1,758,451 |
17,585 |
4,437 |
22,022 |
|
81 |
1,754,014 |
17,540 |
4,482 |
22,022 |
|
82 |
1,749,532 |
17,495 |
4,526 |
22,022 |
|
83 |
1,745,006 |
17,450 |
4,572 |
22,022 |
|
84 |
1,740,434 |
17,404 |
4,617 |
22,022 |
|
85 |
1,735,817 |
17,358 |
4,664 |
22,022 |
|
86 |
1,731,153 |
17,312 |
4,710 |
22,022 |
|
87 |
1,726,443 |
17,264 |
4,757 |
22,022 |
|
88 |
1,721,686 |
17,217 |
4,805 |
22,022 |
|
89 |
1,716,881 |
17,169 |
4,853 |
22,022 |
|
90 |
1,712,028 |
17,120 |
4,901 |
22,022 |
|
91 |
1,707,127 |
17,071 |
4,950 |
22,022 |
|
92 |
1,702,176 |
17,022 |
5,000 |
22,022 |
|
93 |
1,697,176 |
16,972 |
5,050 |
22,022 |
|
94 |
1,692,126 |
16,921 |
5,100 |
22,022 |
|
95 |
1,687,026 |
16,870 |
5,151 |
22,022 |
|
96 |
1,681,874 |
16,819 |
5,203 |
22,022 |
|
97 |
1,676,671 |
16,767 |
5,255 |
22,022 |
|
98 |
1,671,416 |
16,714 |
5,308 |
22,022 |
|
99 |
1,666,109 |
16,661 |
5,361 |
22,022 |
|
100 |
1,660,748 |
16,607 |
5,414 |
22,022 |
|
101 |
1,655,334 |
16,553 |
5,468 |
22,022 |
|
102 |
1,649,866 |
16,499 |
5,523 |
22,022 |
|
103 |
1,644,342 |
16,443 |
5,578 |
22,022 |
|
104 |
1,638,764 |
16,388 |
5,634 |
22,022 |
|
105 |
1,633,130 |
16,331 |
5,690 |
22,022 |
|
106 |
1,627,440 |
16,274 |
5,747 |
22,022 |
|
107 |
1,621,692 |
16,217 |
5,805 |
22,022 |
|
108 |
1,615,888 |
16,159 |
5,863 |
22,022 |
|
109 |
1,610,025 |
16,100 |
5,921 |
22,022 |
|
110 |
1,604,103 |
16,041 |
5,981 |
22,022 |
|
111 |
1,598,123 |
15,981 |
6,040 |
22,022 |
|
112 |
1,592,082 |
15,921 |
6,101 |
22,022 |
|
113 |
1,585,981 |
15,860 |
6,162 |
22,022 |
|
114 |
1,579,819 |
15,798 |
6,224 |
22,022 |
|
115 |
1,573,596 |
15,736 |
6,286 |
22,022 |
|
116 |
1,567,310 |
15,673 |
6,349 |
22,022 |
|
117 |
1,560,961 |
15,610 |
6,412 |
22,022 |
|
118 |
1,554,549 |
15,545 |
6,476 |
22,022 |
|
119 |
1,548,073 |
15,481 |
6,541 |
22,022 |
|
120 |
1,541,532 |
15,415 |
6,606 |
22,022 |
|
121 |
1,534,926 |
15,349 |
6,672 |
22,022 |
|
122 |
1,528,253 |
15,283 |
6,739 |
22,022 |
|
123 |
1,521,514 |
15,215 |
6,807 |
22,022 |
|
124 |
1,514,707 |
15,147 |
6,875 |
22,022 |
|
125 |
1,507,833 |
15,078 |
6,943 |
22,022 |
|
126 |
1,500,889 |
15,009 |
7,013 |
22,022 |
|
127 |
1,493,876 |
14,939 |
7,083 |
22,022 |
|
128 |
1,486,793 |
14,868 |
7,154 |
22,022 |
|
129 |
1,479,640 |
14,796 |
7,225 |
22,022 |
|
130 |
1,472,414 |
14,724 |
7,298 |
22,022 |
|
131 |
1,465,117 |
14,651 |
7,371 |
22,022 |
|
132 |
1,457,746 |
14,577 |
7,444 |
22,022 |
|
133 |
1,450,302 |
14,503 |
7,519 |
22,022 |
|
134 |
1,442,783 |
14,428 |
7,594 |
22,022 |
|
135 |
1,435,189 |
14,352 |
7,670 |
22,022 |
|
136 |
1,427,520 |
14,275 |
7,747 |
22,022 |
|
137 |
1,419,773 |
14,198 |
7,824 |
22,022 |
|
138 |
1,411,949 |
14,119 |
7,902 |
22,022 |
|
139 |
1,404,047 |
14,040 |
7,981 |
22,022 |
|
140 |
1,396,066 |
13,961 |
8,061 |
22,022 |
|
141 |
1,388,004 |
13,880 |
8,142 |
22,022 |
|
142 |
1,379,863 |
13,799 |
8,223 |
22,022 |
|
143 |
1,371,640 |
13,716 |
8,305 |
22,022 |
|
144 |
1,363,334 |
13,633 |
8,388 |
22,022 |
|
145 |
1,354,946 |
13,549 |
8,472 |
22,022 |
|
146 |
1,346,474 |
13,465 |
8,557 |
22,022 |
|
147 |
1,337,917 |
13,379 |
8,643 |
22,022 |
|
148 |
1,329,274 |
13,293 |
8,729 |
22,022 |
|
149 |
1,320,545 |
13,205 |
8,816 |
22,022 |
|
150 |
1,311,729 |
13,117 |
8,904 |
22,022 |
|
151 |
1,302,825 |
13,028 |
8,993 |
22,022 |
|
152 |
1,293,831 |
12,938 |
9,083 |
22,022 |
|
153 |
1,284,748 |
12,847 |
9,174 |
22,022 |
|
154 |
1,275,573 |
12,756 |
9,266 |
22,022 |
|
155 |
1,266,307 |
12,663 |
9,359 |
22,022 |
|
156 |
1,256,949 |
12,569 |
9,452 |
22,022 |
|
157 |
1,247,497 |
12,475 |
9,547 |
22,022 |
|
158 |
1,237,950 |
12,379 |
9,642 |
22,022 |
|
159 |
1,228,308 |
12,283 |
9,739 |
22,022 |
|
160 |
1,218,569 |
12,186 |
9,836 |
22,022 |
|
161 |
1,208,733 |
12,087 |
9,934 |
22,022 |
|
162 |
1,198,798 |
11,988 |
10,034 |
22,022 |
|
163 |
1,188,765 |
11,888 |
10,134 |
22,022 |
|
164 |
1,178,631 |
11,786 |
10,235 |
22,022 |
|
165 |
1,168,395 |
11,684 |
10,338 |
22,022 |
|
166 |
1,158,057 |
11,581 |
10,441 |
22,022 |
|
167 |
1,147,616 |
11,476 |
10,546 |
22,022 |
|
168 |
1,137,071 |
11,371 |
10,651 |
22,022 |
|
169 |
1,126,420 |
11,264 |
10,758 |
22,022 |
|
170 |
1,115,662 |
11,157 |
10,865 |
22,022 |
|
171 |
1,104,797 |
11,048 |
10,974 |
22,022 |
|
172 |
1,093,823 |
10,938 |
11,083 |
22,022 |
|
173 |
1,082,740 |
10,827 |
11,194 |
22,022 |
|
174 |
1,071,546 |
10,715 |
11,306 |
22,022 |
|
175 |
1,060,239 |
10,602 |
11,419 |
22,022 |
|
176 |
1,048,820 |
10,488 |
11,534 |
22,022 |
|
177 |
1,037,286 |
10,373 |
11,649 |
22,022 |
|
178 |
1,025,638 |
10,256 |
11,765 |
22,022 |
|
179 |
1,013,872 |
10,139 |
11,883 |
22,022 |
|
180 |
1,001,989 |
10,020 |
12,002 |
22,022 |
|
181 |
989,987 |
9,900 |
12,122 |
22,022 |
|
182 |
977,866 |
9,779 |
12,243 |
22,022 |
|
183 |
965,622 |
9,656 |
12,365 |
22,022 |
|
184 |
953,257 |
9,533 |
12,489 |
22,022 |
|
185 |
940,768 |
9,408 |
12,614 |
22,022 |
|
186 |
928,154 |
9,282 |
12,740 |
22,022 |
|
187 |
915,414 |
9,154 |
12,868 |
22,022 |
|
188 |
902,546 |
9,025 |
12,996 |
22,022 |
|
189 |
889,550 |
8,895 |
13,126 |
22,022 |
|
190 |
876,424 |
8,764 |
13,257 |
22,022 |
|
191 |
863,166 |
8,632 |
13,390 |
22,022 |
|
192 |
849,776 |
8,498 |
13,524 |
22,022 |
|
193 |
836,252 |
8,363 |
13,659 |
22,022 |
|
194 |
822,593 |
8,226 |
13,796 |
22,022 |
|
195 |
808,797 |
8,088 |
13,934 |
22,022 |
|
196 |
794,863 |
7,949 |
14,073 |
22,022 |
|
197 |
780,790 |
7,808 |
14,214 |
22,022 |
|
198 |
766,576 |
7,666 |
14,356 |
22,022 |
|
199 |
752,220 |
7,522 |
14,500 |
22,022 |
|
200 |
737,721 |
7,377 |
14,645 |
22,022 |
|
201 |
723,076 |
7,231 |
14,791 |
22,022 |
|
202 |
708,285 |
7,083 |
14,939 |
22,022 |
|
203 |
693,347 |
6,933 |
15,088 |
22,022 |
|
204 |
678,258 |
6,783 |
15,239 |
22,022 |
|
205 |
663,019 |
6,630 |
15,392 |
22,022 |
|
206 |
647,628 |
6,476 |
15,545 |
22,022 |
|
207 |
632,082 |
6,321 |
15,701 |
22,022 |
|
208 |
616,381 |
6,164 |
15,858 |
22,022 |
|
209 |
600,523 |
6,005 |
16,016 |
22,022 |
|
210 |
584,507 |
5,845 |
16,177 |
22,022 |
|
211 |
568,330 |
5,683 |
16,338 |
22,022 |
|
212 |
551,992 |
5,520 |
16,502 |
22,022 |
|
213 |
535,490 |
5,355 |
16,667 |
22,022 |
|
214 |
518,823 |
5,188 |
16,833 |
22,022 |
|
215 |
501,990 |
5,020 |
17,002 |
22,022 |
|
216 |
484,988 |
4,850 |
17,172 |
22,022 |
|
217 |
467,816 |
4,678 |
17,344 |
22,022 |
|
218 |
450,472 |
4,505 |
17,517 |
22,022 |
|
219 |
432,955 |
4,330 |
17,692 |
22,022 |
|
220 |
415,263 |
4,153 |
17,869 |
22,022 |
|
221 |
397,394 |
3,974 |
18,048 |
22,022 |
|
222 |
379,346 |
3,793 |
18,228 |
22,022 |
|
223 |
361,118 |
3,611 |
18,411 |
22,022 |
|
224 |
342,708 |
3,427 |
18,595 |
22,022 |
|
225 |
324,113 |
3,241 |
18,781 |
22,022 |
|
226 |
305,332 |
3,053 |
18,968 |
22,022 |
|
227 |
286,364 |
2,864 |
19,158 |
22,022 |
|
228 |
267,206 |
2,672 |
19,350 |
22,022 |
|
229 |
247,856 |
2,479 |
19,543 |
22,022 |
|
230 |
228,313 |
2,283 |
19,739 |
22,022 |
|
231 |
208,574 |
2,086 |
19,936 |
22,022 |
|
232 |
188,638 |
1,886 |
20,135 |
22,022 |
|
233 |
168,503 |
1,685 |
20,337 |
22,022 |
|
234 |
148,166 |
1,482 |
20,540 |
22,022 |
|
235 |
127,626 |
1,276 |
20,745 |
22,022 |
|
236 |
106,881 |
1,069 |
20,953 |
22,022 |
|
237 |
85,928 |
859 |
21,162 |
22,022 |
|
238 |
64,766 |
648 |
21,374 |
22,022 |
|
239 |
43,391 |
434 |
21,588 |
22,022 |
|
240 |
21,804 |
218 |
21,804 |
22,022 |
