A Home Loan Provisional Interest Certificate from SBI serves as a temporary document that details the interest paid on your home loan for a specific period during the current financial year. It’s not the final statement but an interim document for various purposes like tax filing or claiming deductions.
This signifies that the certificate is not the final audited statement for the year. It’s an estimate based on available data and may be subject to slight changes later.
Need For Provisional Loan Certificate SBI
A provisional Loan Certificate primarily shows the amount of interest you paid on your home loan during the chosen period. It may also include details like loan account number, interest rate, and loan tenure.
The certificate reflects the interest paid specifically within the ongoing financial year, typically starting from April 01 to March 31.
Here are some key situations where a Home Loan Provisional Interest Certificate might be useful:
Tax Filing: When filing your income tax returns, you can claim deductions for the interest paid on your home loan. The provisional certificate helps substantiate your claim for this deduction.
Claiming Deductions: If your employer offers tax benefits based on home loan interest payments, the certificate serves as proof for claiming those benefits.
Tracking Expenses: The certificate can help you keep track of your home loan expenses and monitor your interest payments throughout the year.
How To View Home Loan Provisional Interest Certificate Online?
Home loan borrowers can view/download interest certificates (provisional) of their home loan account(s).
Steps to follow;
Using retail.onlinesbi.sbi/personal.
Log on to the Personal Banking section of the Internet Banking site with your credentials
Select the ‘Home Loan Int.Cert (Prov)’ link under the ‘Enquiries’ tab.
Select the account for which you require a Home Loan Interest Certificate.
The certificate can be viewed online, printed, or downloaded in PDF.
Offline Method To Download Home Loan Provisional Interest Certificate
Visit your nearest SBI Branch: If you prefer not to use online banking, you can visit your SBI branch and request a provisional interest certificate for your loan.
Fill out an application: The branch staff will provide you with an application form to request the certificate. Fill it out with your details and loan account information.
Apply: Submit the completed application form to the branch staff.
Collect the certificate: The certificate will be processed and handed over to you within a few business days.
Source By: news18
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