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Whether re-payment of home loan is beneficial or not?

Whether re-payment of home loan is beneficial or not?

Consider a man have Rs. 1,00,000, which he keeps a fixed deposit for 10 years or 20 years at 7.5%.  Still he has taken Rs. 1, 00,000 from a bank at 10% interest for 10 years or 20 years.

Below is summation of amount he pays at the end of the 10 years and 20 years for Rs 1, 00,000 home loan. Also amount he earn keeping his Rs. 1, 00,000 in fixed deposit for 10 years and 20 years.

 

Loan of Rs 1,00,000 for 10 years

10 % interest

In Rs

Fixed deposit for 10 years

At 7.5 % interest compounded

In Rs

Remark

Interest calculated

 58580.88

106103.16

You earn Rs 47522.28 per 1 lakh after 10 years and also home.

Total

 158580.88

206103.16

 

 

Loan of Rs

1,00,000

For 20 years

10 % interest

In Rs

Fixed deposit for 20 years

At 7.5% interest compounded

In Rs

Remark

Interest calculated

131605.19

324785.11

You earn Rs. 193179.92 per 1 lakh after 20 years and also home.

Total

231605.19

424785.11.

 

 

 

\

 

Top of Form

Loan (Rs):

Rs 1,00,000

Duration (Yrs.):

 

Interest Rate:

  
 

 

 %

  

Bottom of Form

 

 

Month

EMI Amount(Rs)

Interest Amount(Rs)

Principal Reduction(Rs)

Balance Due(Rs)

1.

1321.51

833.33

488.17

99511.83

2.

1321.51

829.27

492.24

99019.58

3.

1321.51

825.16

496.34

98523.24

4.

1321.51

821.03

500.48

98022.76

5.

1321.51

816.86

504.65

97518.11

6.

1321.51

812.65

508.86

97009.25

7.

1321.51

808.41

513.10

96496.15

8.

1321.51

804.13

517.37

95978.78

9.

1321.51

799.82

521.68

95457.10

10.

1321.51

795.48

526.03

94931.07

11.

1321.51

791.09

530.42

94400.65

12.

1321.51

786.67

534.84

93865.82

13.

1321.51

782.22

539.29

93326.52

14.

1321.51

777.72

543.79

92782.74

15.

1321.51

773.19

548.32

92234.42

16.

1321.51

768.62

552.89

91681.53

17.

1321.51

764.01

557.49

91124.04

18.

1321.51

759.37

562.14

90561.90

19.

1321.51

754.68

566.82

89995.07

20.

1321.51

749.96

571.55

89423.52

21.

1321.51

745.20

576.31

88847.21

22.

1321.51

740.39

581.11

88266.10

23.

1321.51

735.55

585.96

87680.14

24.

1321.51

730.67

590.84

87089.30

25.

1321.51

725.74

595.76

86493.54

26.

1321.51

720.78

600.73

85892.81

27.

1321.51

715.77

605.73

85287.08

28.

1321.51

710.73

610.78

84676.30

29.

1321.51

705.64

615.87

84060.42

30.

1321.51

700.50

621.00

83439.42

31.

1321.51

695.33

626.18

82813.24

32.

1321.51

690.11

631.40

82181.84

33.

1321.51

684.85

636.66

81545.19

34.

1321.51

679.54

641.96

80903.22

35.

1321.51

674.19

647.31

80255.91

36.

1321.51

668.80

652.71

79603.20

37.

1321.51

663.36

658.15

78945.05

38.

1321.51

657.88

663.63

78281.42

39.

1321.51

652.35

669.16

77612.26

40.

1321.51

646.77

674.74

76937.52

41.

1321.51

641.15

680.36

76257.16

42.

1321.51

635.48

686.03

75571.13

43.

1321.51

629.76

691.75

74879.38

44.

1321.51

623.99

697.51

74181.87

45.

1321.51

618.18

703.33

73478.54

46.

1321.51

612.32

709.19

72769.36

47.

1321.51

606.41

715.10

72054.26

48.

1321.51

600.45

721.06

71333.20

49.

1321.51

594.44

727.06

70606.14

50.

1321.51

588.38

733.12

69873.02

51.

1321.51

582.28

739.23

69133.79

52.

1321.51

576.11

745.39

68388.39

53.

1321.51

569.90

751.60

67636.79

54.

1321.51

563.64

757.87

66878.92

55.

1321.51

557.32

764.18

66114.74

56.

1321.51

550.96

770.55

65344.19

57.

1321.51

544.53

776.97

64567.21

58.

1321.51

538.06

783.45

63783.77

59.

1321.51

531.53

789.98

62993.79

60.

1321.51

524.95

796.56

62197.23

61.

1321.51

518.31

803.20

61394.03

62.

1321.51

511.62

809.89

60584.14

63.

1321.51

504.87

816.64

59767.50

64.

1321.51

498.06

823.44

58944.06

65.

1321.51

491.20

830.31

58113.75

66.

1321.51

484.28

837.23

57276.53

67.

1321.51

477.30

844.20

56432.32

68.

1321.51

470.27

851.24

55581.09

69.

1321.51

463.18

858.33

54722.75

70.

1321.51

456.02

865.48

53857.27

71.

1321.51

448.81

872.70

52984.57

72.

1321.51

441.54

879.97

52104.60

73.

1321.51

434.21

887.30

51217.30

74.

1321.51

426.81

894.70

50322.61

75.

1321.51

419.36

902.15

49420.45

76.

1321.51

411.84

909.67

48510.78

77.

1321.51

404.26

917.25

47593.53

78.

1321.51

396.61

924.89

46668.64

79.

1321.51

388.91

932.60

45736.04

80.

1321.51

381.13

940.37

44795.66

81.

1321.51

373.30

948.21

43847.45

82.

1321.51

365.40

956.11

42891.34

83.

1321.51

357.43

964.08

41927.26

84.

1321.51

349.39

972.11

40955.15

85.

1321.51

341.29

980.21

39974.93

86.

1321.51

333.12

988.38

38986.55

87.

1321.51

324.89

996.62

37989.93

88.

1321.51

316.58

1004.92

36985.00

89.

1321.51

308.21

1013.30

35971.71

90.

1321.51

299.76

1021.74

34949.96

91.

1321.51

291.25

1030.26

33919.70

92.

1321.51

282.66

1038.84

32880.86

93.

1321.51

274.01

1047.50

31833.36

94.

1321.51

265.28

1056.23

30777.13

95.

1321.51

256.48

1065.03

29712.10

96.

1321.51

247.60

1073.91

28638.19

97.

1321.51

238.65

1082.86

27555.34

98.

1321.51

229.63

1091.88

26463.46

99.

1321.51

220.53

1100.98

25362.48

100.

1321.51

211.35

1110.15

24252.33

101.

1321.51

202.10

1119.40

23132.92

102.

1321.51

192.77

1128.73

22004.19

103.

1321.51

183.37

1138.14

20866.05

104.

1321.51

173.88

1147.62

19718.43

105.

1321.51

164.32

1157.19

18561.24

106.

1321.51

154.68

1166.83

17394.41

107.

1321.51

144.95

1176.55

16217.86

108.

1321.51

135.15

1186.36

15031.50

109.

1321.51

125.26

1196.24

13835.25

110.

1321.51

115.29

1206.21

12629.04

111.

1321.51

105.24

1216.27

11412.77

112.

1321.51

95.11

1226.40

10186.37

113.

1321.51

84.89

1236.62

8949.75

114.

1321.51

74.58

1246.93

7702.82

115.

1321.51

64.19

1257.32

6445.51

116.

1321.51

53.71

1267.79

5177.71

117.

1321.51

43.15

1278.36

3899.35

118.

1321.51

32.49

1289.01

2610.34

119.

1321.51

21.75

1299.75

1310.59

120.

1321.51

10.92

1310.59

0.00

Total:

Total Amount Paid   Rs 158580.88

Total Interest Paid   Rs 58580.88

 

 

 

 

 

 

Home Loan EMI Calculator

 

Top of Form

Loan (Rs):

1,00,000

Duration (Yrs.):

 

Interest Rate:

  
 

 

  

Bottom of Form

 

 

Month

EMI Amount(Rs)

Interest Amount(Rs)

Principal Reduction(Rs)

Balance Due(Rs)

1.

965.02

833.33

131.69

99868.31

2.

965.02

832.24

132.79

99735.53

3.

965.02

831.13

133.89

99601.63

4.

965.02

830.01

135.01

99466.63

5.

965.02

828.89

136.13

99330.49

6.

965.02

827.75

137.27

99193.23

7.

965.02

826.61

138.41

99054.81

8.

965.02

825.46

139.56

98915.25

9.

965.02

824.29

140.73

98774.52

10.

965.02

823.12

141.90

98632.62

11.

965.02

821.94

143.08

98489.54

12.

965.02

820.75

144.28

98345.26

13.

965.02

819.54

145.48

98199.78

14.

965.02

818.33

146.69

98053.09

15.

965.02

817.11

147.91

97905.18

16.

965.02

815.88

149.15

97756.04

17.

965.02

814.63

150.39

97605.65

18.

965.02

813.38

151.64

97454.01

19.

965.02

812.12

152.90

97301.10

20.

965.02

810.84

154.18

97146.92

21.

965.02

809.56

155.46

96991.46

22.

965.02

808.26

156.76

96834.70

23.

965.02

806.96

158.07

96676.63

24.

965.02

805.64

159.38

96517.25

25.

965.02

804.31

160.71

96356.54

26.

965.02

802.97

162.05

96194.49

27.

965.02

801.62

163.40

96031.09

28.

965.02

800.26

164.76

95866.33

29.

965.02

798.89

166.14

95700.19

30.

965.02

797.50

167.52

95532.67

31.

965.02

796.11

168.92

95363.75

32.

965.02

794.70

170.32

95193.43

33.

965.02

793.28

171.74

95021.69

34.

965.02

791.85

173.17

94848.51

35.

965.02

790.40

174.62

94673.90

36.

965.02

788.95

176.07

94497.82

37.

965.02

787.48

177.54

94320.28

38.

965.02

786.00

179.02

94141.26

39.

965.02

784.51

180.51

93960.75

40.

965.02

783.01

182.02

93778.74

41.

965.02

781.49

183.53

93595.20

42.

965.02

779.96

185.06

93410.14

43.

965.02

778.42

186.60

93223.54

44.

965.02

776.86

188.16

93035.38

45.

965.02

775.29

189.73

92845.65

46.

965.02

773.71

191.31

92654.35

47.

965.02

772.12

192.90

92461.44

48.

965.02

770.51

194.51

92266.93

49.

965.02

768.89

196.13

92070.80

50.

965.02

767.26

197.76

91873.04

51.

965.02

765.61

199.41

91673.63

52.

965.02

763.95

201.07

91472.55

53.

965.02

762.27

202.75

91269.80

54.

965.02

760.58

204.44

91065.36

55.

965.02

758.88

206.14

90859.22

56.

965.02

757.16

207.86

90651.36

57.

965.02

755.43

209.59

90441.76

58.

965.02

753.68

211.34

90230.42

59.

965.02

751.92

213.10

90017.32

60.

965.02

750.14

214.88

89802.44

61.

965.02

748.35

216.67

89585.77

62.

965.02

746.55

218.47

89367.30

63.

965.02

744.73

220.29

89147.01

64.

965.02

742.89

222.13

88924.88

65.

965.02

741.04

223.98

88700.90

66.

965.02

739.17

225.85

88475.05

67.

965.02

737.29

227.73

88247.32

68.

965.02

735.39

229.63

88017.69

69.

965.02

733.48

231.54

87786.15

70.

965.02

731.55

233.47

87552.68

71.

965.02

729.61

235.42

87317.26

72.

965.02

727.64

237.38

87079.89

73.

965.02

725.67

239.36

86840.53

74.

965.02

723.67

241.35

86599.18

75.

965.02

721.66

243.36

86355.82

76.

965.02

719.63

245.39

86110.43

77.

965.02

717.59

247.43

85862.99

78.

965.02

715.52

249.50

85613.50

79.

965.02

713.45

251.58

85361.92

80.

965.02

711.35

253.67

85108.25

81.

965.02

709.24

255.79

84852.46

82.

965.02

707.10

257.92

84594.55

83.

965.02

704.95

260.07

84334.48

84.

965.02

702.79

262.23

84072.24

85.

965.02

700.60

264.42

83807.82

86.

965.02

698.40

266.62

83541.20

87.

965.02

696.18

268.84

83272.36

88.

965.02

693.94

271.09

83001.27

89.

965.02

691.68

273.34

82727.93

90.

965.02

689.40

275.62

82452.30

91.

965.02

687.10

277.92

82174.38

92.

965.02

684.79

280.24

81894.15

93.

965.02

682.45

282.57

81611.58

94.

965.02

680.10

284.93

81326.65

95.

965.02

677.72

287.30

81039.35

96.

965.02

675.33

289.69

80749.66

97.

965.02

672.91

292.11

80457.55

98.

965.02

670.48

294.54

80163.01

99.

965.02

668.03

297.00

79866.01

100.

965.02

665.55

299.47

79566.54

101.

965.02

663.05

301.97

79264.58

102.

965.02

660.54

304.48

78960.09

103.

965.02

658.00

307.02

78653.07

104.

965.02

655.44

309.58

78343.49

105.

965.02

652.86

312.16

78031.33

106.

965.02

650.26

314.76

77716.57

107.

965.02

647.64

317.38

77399.19

108.

965.02

644.99

320.03

77079.16

109.

965.02

642.33

322.70

76756.47

110.

965.02

639.64

325.38

76431.08

111.

965.02

636.93

328.10

76102.98

112.

965.02

634.19

330.83

75772.15

113.

965.02

631.43

333.59

75438.57

114.

965.02

628.65

336.37

75102.20

115.

965.02

625.85

339.17

74763.03

116.

965.02

623.03

342.00

74421.03

117.

965.02

620.18

344.85

74076.19

118.

965.02

617.30

347.72

73728.47

119.

965.02

614.40

350.62

73377.85

120.

965.02

611.48

353.54

73024.31

121.

965.02

608.54

356.49

72667.82

122.

965.02

605.57

359.46

72308.37

123.

965.02

602.57

362.45

71945.92

124.

965.02

599.55

365.47

71580.44

125.

965.02

596.50

368.52

71211.93

126.

965.02

593.43

371.59

70840.34

127.

965.02

590.34

374.69

70465.65

128.

965.02

587.21

377.81

70087.84

129.

965.02

584.07

380.96

69706.89

130.

965.02

580.89

384.13

69322.76

131.

965.02

577.69

387.33

68935.42

132.

965.02

574.46

390.56

68544.86

133.

965.02

571.21

393.81

68151.05

134.

965.02

567.93

397.10

67753.95

135.

965.02

564.62

400.41

67353.55

136.

965.02

561.28

403.74

66949.81

137.

965.02

557.92

407.11

66542.70

138.

965.02

554.52

410.50

66132.20

139.

965.02

551.10

413.92

65718.28

140.

965.02

547.65

417.37

65300.91

141.

965.02

544.17

420.85

64880.06

142.

965.02

540.67

424.35

64455.71

143.

965.02

537.13

427.89

64027.82

144.

965.02

533.57

431.46

63596.36

145.

965.02

529.97

435.05

63161.31

146.

965.02

526.34

438.68

62722.63

147.

965.02

522.69

442.33

62280.30

148.

965.02

519.00

446.02

61834.28

149.

965.02

515.29

449.74

61384.55

150.

965.02

511.54

453.48

60931.06

151.

965.02

507.76

457.26

60473.80

152.

965.02

503.95

461.07

60012.73

153.

965.02

500.11

464.92

59547.81

154.

965.02

496.23

468.79

59079.02

155.

965.02

492.33

472.70

58606.32

156.

965.02

488.39

476.64

58129.69

157.

965.02

484.41

480.61

57649.08

158.

965.02

480.41

484.61

57164.47

159.

965.02

476.37

488.65

56675.82

160.

965.02

472.30

492.72

56183.09

161.

965.02

468.19

496.83

55686.26

162.

965.02

464.05

500.97

55185.29

163.

965.02

459.88

505.14

54680.15

164.

965.02

455.67

509.35

54170.80

165.

965.02

451.42

513.60

53657.20

166.

965.02

447.14

517.88

53139.32

167.

965.02

442.83

522.19

52617.13

168.

965.02

438.48

526.55

52090.58

169.

965.02

434.09

530.93

51559.65

170.

965.02

429.66

535.36

51024.29

171.

965.02

425.20

539.82

50484.47

172.

965.02

420.70

544.32

49940.15

173.

965.02

416.17

548.85

49391.30

174.

965.02

411.59

553.43

48837.87

175.

965.02

406.98

558.04

48279.83

176.

965.02

402.33

562.69

47717.14

177.

965.02

397.64

567.38

47149.76

178.

965.02

392.91

572.11

46577.66

179.

965.02

388.15

576.87

46000.78

180.

965.02

383.34

581.68

45419.10

181.

965.02

378.49

586.53

44832.57

182.

965.02

373.60

591.42

44241.15

183.

965.02

368.68

596.35

43644.81

184.

965.02

363.71

601.31

43043.49

185.

965.02

358.70

606.33

42437.17

186.

965.02

353.64

611.38

41825.79

187.

965.02

348.55

616.47

41209.32

188.

965.02

343.41

621.61

40587.71

189.

965.02

338.23

626.79

39960.91

190.

965.02

333.01

632.01

39328.90

191.

965.02

327.74

637.28

38691.62

192.

965.02

322.43

642.59

38049.03

193.

965.02

317.08

647.95

37401.08

194.

965.02

311.68

653.35

36747.74

195.

965.02

306.23

658.79

36088.95

196.

965.02

300.74

664.28

35424.66

197.

965.02

295.21

669.82

34754.85

198.

965.02

289.62

675.40

34079.45

199.

965.02

284.00

681.03

33398.42

200.

965.02

278.32

686.70

32711.72

201.

965.02

272.60

692.42

32019.30

202.

965.02

266.83

698.19

31321.10

203.

965.02

261.01

704.01

30617.09

204.

965.02

255.14

709.88

29907.21

205.

965.02

249.23

715.79

29191.42

206.

965.02

243.26

721.76

28469.66

207.

965.02

237.25

727.77

27741.88

208.

965.02

231.18

733.84

27008.04

209.

965.02

225.07

739.95

26268.09

210.

965.02

218.90

746.12

25521.97

211.

965.02

212.68

752.34

24769.63

212.

965.02

206.41

758.61

24011.02

213.

965.02

200.09

764.93

23246.09

214.

965.02

193.72

771.30

22474.79

215.

965.02

187.29

777.73

21697.06

216.

965.02

180.81

784.21

20912.84

217.

965.02

174.27

790.75

20122.10

218.

965.02

167.68

797.34

19324.76

219.

965.02

161.04

803.98

18520.78

220.

965.02

154.34

810.68

17710.09

221.

965.02

147.58

817.44

16892.66

222.

965.02

140.77

824.25

16068.41

223.

965.02

133.90

831.12

15237.29

224.

965.02

126.98

838.04

14399.25

225.

965.02

119.99

845.03

13554.22

226.

965.02

112.95

852.07

12702.15

227.

965.02

105.85

859.17

11842.98

228.

965.02

98.69

866.33

10976.65

229.

965.02

91.47

873.55

10103.10

230.

965.02

84.19

880.83

9222.27

231.

965.02

76.85

888.17

8334.10

232.

965.02

69.45

895.57

7438.53

233.

965.02

61.99

903.03

6535.49

234.

965.02

54.46

910.56

5624.93

235.

965.02

46.87

918.15

4706.79

236.

965.02

39.22

925.80

3780.99

237.

965.02

31.51

933.51

2847.48

238.

965.02

23.73

941.29

1906.18

239.

965.02

15.88

949.14

957.05

240.

965.02

7.98

957.05

0.00

Total:

Total Amount Paid   Rs 231605.19

Total Interest Paid   Rs 131605.19

 


 

 

 

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