A home loan provisional certificate is issued by the lending institution, outlining the total amount borrowed to purchase a home. It acts as proof of home loan repayment and details the amount expected to be repaid in a year. It includes both the principal and interest components. Read the blog to know more about the home loan provisional certificate, its importance, and the process of obtaining it from a bank.<\/p>\r\n
Table of Contents<\/strong><\/p>\r\n This provisional home loan interest certificate can be obtained at the beginning of a financial year that indicates the payable amount of the loan and its interest for that financial year.<\/p>\r\n The most important use of the provisional home loan certificate is to claim tax deductions. The principal loan amount and the home loan EMIs are subject to concerned tax deductions under Section 80C of the Income Tax Act. One can claim a deduction up to a maximum of \u20b91,50,000 on the principal loan amount and up to \u20b92,00,000 on the interest claim as per Section 24 of the Income Tax Act. Additionally, one can claim deductions for the house registration fees and stamp duty charges. Therefore, to claim these tax deductions, the home loan certificate for income tax becomes so important to have while filing IT returns.<\/p>\r\n The process of getting the home loan provisional certificate from the concerned banks is quite simple since all banks today have their own official websites and mobile applications. All one needs to do is to log in to their accounts through the website or mobile app, and download the provisional certificate, along with the loan summary statement and other important housing loan documents<\/a>.<\/p>\r\n Alternatively, one can choose to visit the nearest branch of the concerned bank and request the bank officials for the provisional certificate in person. One has to furnish some documents required for a provisional certificate, such as a copy of a PAN card, Aadhaar card, loan document, etc.<\/p>\r\n Now, that you know the importance of a home loan interest certificate for income tax returns, let\u2019s look at the process for obtaining it from some of the top banks in India.<\/p>\r\n Suggested read: Home L<\/a><\/strong>oan Disbursement Process<\/a><\/strong><\/p>\r\n Follow the steps to obtain the certificate from the State Bank of India official website:<\/p>\r\n Step 1:<\/strong> Search on the internet and visit the following link from the official website of SBI Alternatively, you can visit the nearest SBI branch and after submitting the required documents, you can get the certificate in person.<\/p>\r\n Suggested read:\u00a0Home Loan Process<\/a><\/strong><\/p>\r\n Step 1: <\/strong>There are different ways to get the home loan provisional certificate from Axis Bank. Similar to the other two banks, almost the same process has to be followed for HDFC bank as well<\/p>\r\n Step 1: <\/strong>Search for HDFC Bank’s official website or directly click on the link. The above-mentioned processes can be done for almost all banks to get the home loan provisional certificate.<\/p>\r\n Here’s an overview of the tax benefits that can be leveraged through this provisional certificate:<\/p>\r\n Typically, a housing loan provisional certificate contains the following information:<\/p>\r\n\r\n
Importance of Home Loan Interest Certificate<\/span><\/strong><\/h2>\r\n
Process of Obtaining a Home Loan Interest Certificate from a Bank<\/span><\/strong><\/h2>\r\n
SBI Bank Home Loan<\/a> Provisional Certificate<\/span><\/strong><\/h2>\r\n
Step 2: <\/strong>Put in your login ID and password, enter the CAPTCHA code, and then put the OTP received on your registered mobile number or email id to enter the SBI dashboard.
Step 3: <\/strong>On the header, look for the \u2018Enquiries\u2019 tab, and then click on the \u2018Home Loan Interest Certificate (Provisional)\u2019 link under it.
Step 4: <\/strong>The final step is to select the account under which the home loan has been taken. Click on the certificate that appears on the screen to view, download, and print it.<\/p>\r\nAXIS Bank Home Loan Provisional Certificate<\/span><\/strong><\/h2>\r\n
The easiest way is to get it online. Once on the AXIS bank official website or mobile app, you need to search for the loan account dashboard. From the dashboard, you can look for the \u2018View Interest Certificate\u2019 option. Thereafter, all you need to do is to select \u2018Loans\u2019 followed by \u2018Request Statement\u2019. Finally, you need to choose the \u2018Interest Certificate\u2019 to view it, with the option available for downloading and printing.
Step 2: <\/strong>Alternatively, as mentioned above, you can go and meet officials of the nearest AXIS bank branch for the certificate.
Step 3: <\/strong>Call their customer service at 1860-500-5555 \/ 1860-419-5555 and request them to share your loan certificate through email is another option.<\/p>\r\nHDFC Bank Home Loan<\/a> Provisional Certificate<\/span><\/strong><\/h2>\r\n
Step 2:<\/strong> Once the page opens, enter the loan account number and the CAPTCHA code
Step 3:<\/strong> This will generate the loan certificate on the screen. Thereafter, you can choose to receive it either by post or email. In case you choose the former option, it will take two working days for you to receive the document while if you choose the latter option, you will get it almost immediately.<\/p>\r\nTax Benefits of a Home Loan Provisional Certificate<\/span><\/strong><\/h2>\r\n
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What Does the Housing Loan Provisional Certificate Contain?<\/span><\/strong><\/h2>\r\n