HOME LOAN PROVISIONAL CERTIFICATE: MEANING AND ITS IMPORTANCE
A home loan provisional certificate is a statement that shows how much money someone borrowed to buy a home and it is provided by the lending institution. This statement serves as proof of the home loan repayment. The statement tells how much money the person has to pay back in a year for the loan and the interest on that money.
Home Loan Interest Certificate
Claim tax deductions with your provisional home loan certificate. Under Section 80C, deduct up to ₹1,50,000 on the principal amount. Section 24 allows up to ₹2,00,000 on interest. Additionally, claim deductions on house registration fees and stamp duty. This certificate is crucial when filing IT returns.
Process of Obtaining a Home Loan Interest Certificate from a Bank
Getting a home loan provisional certificate is easy with most banks Simply log in to your bank's website or mobile app to download the certificate and loan summary Alternatively, visit a branch and request it in person, providing documents like your PAN card, Aadhaar card, and loan documents This certificate is crucial for filing income tax returns
SBI Bank Home Loan Provisional Certificate
Conclusion
A home loan provisional certificate is a statement that shows how much money someone borrowed to buy a home and it is provided by the lending institution.