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Standard mid-size SUV financing: ₹10 Lakh auto loan costs ₹20,758 per month across 60 equal monthly installments. Here is your complete financial calculation: monthly EMI, total interest payable, principal-to-interest ratio, and how much you can save with loan prepayment hacks.
Most home loan borrowers don't realize that in the first 5 to 7 years, over 70% of each EMI goes purely toward bank interest. If you pay just one extra EMI per year (or increase your monthly payment by 1/12th):
Stays in your pocket instead of the bank's
Become completely debt-free much earlier
| Year | Principal Paid | Interest Paid | Ending Balance |
|---|---|---|---|
| Year 1 | ₹1,65,830 | ₹83,269 | ₹8,34,170 |
| Year 2 | ₹1,81,385 | ₹67,714 | ₹6,52,784 |
| Year 3 | ₹1,98,400 | ₹50,699 | ₹4,54,383 |
| Year 4 | ₹2,17,013 | ₹32,088 | ₹2,37,370 |
| Year 5 | ₹2,37,369 | ₹11,730 | ₹0 |
Open our full interactive loan calculator with sliders, pie charts, and monthly amortization downloads.
The monthly EMI for a ₹10,00,000 loan at an interest rate of 9% per annum for 5 years (60 months) is ₹20,758.
Over the complete 5-year tenure, total interest payable is ₹2,45,501, making your total repayment amount ₹12,45,501.
By paying the equivalent of just 1 extra EMI each year, you will shorten your loan tenure by approximately 0.4 years and save around ₹24,378 in interest.
Yes, if you choose the Old Tax Regime. You can claim tax deductions up to ₹2 Lakhs per financial year on home loan interest under Section 24(b), and up to ₹1.5 Lakhs on principal repayment under Section 80C.