Home loans allow you to acquire your desired home immediately, in spite of not being able to fund the entire purchase at present through your own funds. Attractive tax benefits on interest payments and principal repayments on home loans further add to its appeal. Calculate the tax that you can save by buying a residential property through a home loan.
*All Fields are Mandatory.
Loan amount (Rs)
Tenure (years) :
Interest rate payable per annum (%) :
Personal tax rate applicable :	10.30% 20.60% 30.90%

Note

1. Personal tax rate is inclusive of education cess 2% and higher education cess 1% .
   
2. Tax implications on home loans are those applicable when loan is taken after 1 April 1999.
   
3. Section 24(b) allows deduction on interest component on home loan for up to Rs.1.5 lakh per annum if the loan is taken on or after April 1, 1999 to buy or build a property. The purchase or construction should be completed within three years from the end of the financial year in which the loan is taken. In addition to it a certification from the lending bank(s) is needed to certify that interest is payable against the loan advanced to buy or construct a house.
   
4. Section 80C allows deduction on principal repayment on a home loan for up to Rs.1 lakh per financial year.
   
5. All values have been rounded to the nearest thousand.

Disclaimer
Figures and indicative. Terms and conditions apply. All loans are disbursed at the sole discretion of the Company. All information herein is subject to change without notice.