While filing your income tax return, you can claim deduction for the interest paid on your home loan.
If your employer provides tax benefits based on home loan interest payments, the certificate serves as proof to claim those benefits.
SBI’s Home Loan Provisional Interest Certificate acts as a temporary document that details the interest paid on your home loan for a specific period during the current financial year. It is not a final statement but an interim document for various purposes like filing taxes or claiming deductions.
This indicates that the certificate is not the final audited statement for the year. This is an estimate based on available data and is subject to slight changes.
Requirement of provisional loan certificate from SBI
A provisional loan certificate mainly reflects the amount of interest 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 specifically reflects the interest paid within the current financial year, which usually starts from April 01 to March 31.
Here are some of the major situations where a Home Loan Provisional Interest Certificate can be useful:
- Tax Payment: While filing your income tax return, you can claim deduction for the interest paid on your home loan. The provisional certificate helps authenticate your claim for this deduction.
- Claiming Deduction: If your employer provides tax benefits based on home loan interest payments, the certificate serves as proof to claim 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 the 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 link ‘Home Loan Int.Sert (Prov)’ under the ‘Enquiry’ tab.
- Select the account for which you require 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 do not want to use online banking, you can visit your SBI branch and request a provisional interest certificate for your loan.
- fill out an application: Branch staff will provide you with an application form to request the certificate. Fill it with your details and loan account information.
- apply: Submit the completed application form to the branch staff.
- Collect Certificate: The certificate will be processed and handed over to you within a few business days.
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