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
₹50,00,000
%
8.50% per annum
yrs
20 years
Your income tax slab
Property use
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.