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Of EMI and home loan

Last updated on: June 17, 2009 15:58 IST

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


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