Nowadays, the majority of lenders allow their customers to view interest certificates online in easy steps. To receive the home loan interest certificate from your bank, you have to follow a straightforward procedure that you can complete in your home.
What is a home loan interest certificate?
A home loan certificate is just a summary of your loan account from your lender. It is a breakdown of the interest and the principal amount you have repaid towards your Home Loan for the given financial year, and it acts as documentation that you have repaid your home loan.
In many instances, a provisional interest certificate can also be acquired at the beginning of the financial year. This certificate details the amount of money owed for the given year and is issued at the beginning of the fiscal year.
see also about: Axis Bank home loan
What are the advantages of having a home loan certificate?
Claiming tax deductions is one of the most significant benefits of having a home loan certificate.
As is common knowledge, both the principle and the EMI portions of a home loan qualify for their own separate tax deductions. You are allowed to claim a deduction for the principal amount that you have repaid up to a maximum of Rs. 1,50,000 under the provisions of Section 80C of the Income Tax Act.
However, the maximum amount that can be claimed for interest under Section 24 is Rs. 2,000,000. In addition, stamp duty payments and registration fees are eligible to be deducted from the total amount.
You will be needed to provide a copy of your home loan certificate when you file your tax returns if you want to effectively take advantage of these tax advantages associated with a house loan.
Axis Bank home loan interest certificate
Axis Bank bank loan interest certificate provides a clear illustration of all major elements of a home loan that a borrower must attend to make his Axis Bank home loan EMI payments on time.
The loan’s principal, interest rate, and term are all included on the certificate. Each year at the close or start of the fiscal year, Axis Bank issues home loan statements, also known as Axis Bank bank home loan provisional certificates, that detail the house loan borrower’s outstanding balance and EMI payments.
Axis Bank home loan interest certificate online
Axis Bank home loan statements and Axis Bank home loan certificates can be obtained online, similar to other banking services. For this, please follow the instructions listed below:
Step 1: Visit the Axis Bank Internet banking website or their official site.
Step 2: Click on the login page and enter your online banking account’s user ID and password.
Step 3: After signing in, choose the “Enquiries” option.
Step 4: Select the ‘Home loan provisional certificate’ option under Enquiries.
Step 5: Enter the home loan details for which you want information.
Step 6: The Axis Bank house loan statement/provisional certificate will appear after inputting the required information.
Step 7: You have the option of viewing, printing, or downloading your Axis Bank home loan statement online.
Axis Bank home loan interest certificate offline
Home loan statements/provisional certificates from Axis Bank can be obtained offline and online. The actions outlined below are what you need to do to complete the offline procedure successfully:
Step 1: Pay a visit to the Axis Bank location in your area.
Step 2: Request a form for a home loan statement, and be sure to fill it out with all the necessary information accurately. This includes the applicant’s name, PAN number, date of birth, residential address, and home loan details such as the home loan account number, the email id of the applicant, and a contact number.
Step 3: After you have completed filling out the form, you will need to submit it together with the necessary papers such as a copy of your passport, Aadhar card, or PAN card.
FAQs
Where can I find the status of my home loan from Axis Bank?
You can see your loan balance anytime using your online banking with Axis Bank. If you have an Axis Bank loan, you can verify your balance by downloading either an interest certificate or a statement from your loan account.
How can I see my Axis Bank home loan statement online?
How can I receive a provisional housing certificate from Axis Bank?
The Axis Bank housing provisional certificate is available in hard copy and digital formats. To use Axis Bank's offline services, you need to visit your local branch. Conversely, you can use online banking websites to access these services.
