Home Loan Tax Savings Calculator
Estimate the income tax you save in your first year from a home loan — principal under 80C and interest under 24(b) — at your tax slab.
Loan & tax details
Tax you save (year 1)
₹89,853
On ₹2,99,511 of deductions
- Principal repaid (yr 1)
- ₹99,511
- 80C deduction (principal)
- ₹99,511
- Interest paid (yr 1)
- ₹4,21,182
- 24(b) deduction (interest)
- ₹2,00,000
- Total tax saved
- ₹89,853
Applies to the OLD tax regime. 80C is capped at ₹1.5L (shared with PPF/ELSS/insurance) and 24(b) at ₹2L for self-occupied homes. The NEW regime does not allow these on a self-occupied property.
Frequently Asked Questions
Are the TerraNexxus calculators free to use?
Yes — every calculator and tool on TerraNexxus is completely free to use, with no sign-up or login required.
How accurate are these property and loan calculators?
They use standard, widely-accepted formulas to give a close estimate. For exact figures (loan eligibility, EMI, stamp duty, tax), always confirm with your bank, lender or a qualified financial advisor.
Do the calculators work on mobile?
Yes, all tools are fully responsive and work smoothly on mobile, tablet and desktop browsers.
Is the data I enter stored or shared?
No. Calculations run entirely in your browser — TerraNexxus does not store, track or share the values you enter.