SBI customer? Here’s how to download the SBI mortgage interest certificate
- A provisional mortgage certificate is a statement of your mortgage account provided by your lender
- The certificate contains a summary of the interest and principal amounts paid for the mortgage for the current year
- The provisional mortgage loan certificate is essential to claim tax deductions
New Delhi: India’s largest commercial lender, State Bank of India (SBI), offers several online services to customers during a pandemic. Now SBI clients no longer need to go to the bank branch if they need a copy of the mortgage interest certificate as they can easily download the certificate using Online SBI or SBI Quick without going outside.
The lender also recently tweeted from their official Twitter account regarding the download of the mortgage loan interest certificate. SBI’s tweet read: “Do you want a copy of your mortgage interest certificate? You can download the certificate easily using Online SBI or SBI Quick. Take advantage of our online services from the comfort of your own home. Stay at home, stay safe. ”
According to the official SBI website onlinesbi.com, mortgage borrowers can view or download the certificate of interest by following a few simple steps.
How to download the mortgage loan interest certificate online:
Step 1: Customers should log into the website at onlinesbi.com/personal
2nd step: The SBI client must go to the Personal Banking section
Step 3: SBI clients must enter the required credentials and login to this section
Step 4: Now SBI clients should select the âHome Loan Int.Cert (Prov)â link under the âInquiriesâ tab
Step 5: Finally, the SBI client must select the account for which he needs the mortgage loan interest certificate
The mortgage loan certificate can be viewed online and it can also be downloaded in PDF format. Customers can download the certificate and print the certificate for future reference. Besides the SBI online, clients can also download the mortgage interest certificate using SBI Quick.
For the undervalued, the provisional mortgage certificate is a statement of your mortgage account provided by your lender. It contains a summary of the interest and principal amounts you paid on your mortgage for the current year.
The certificate is essential to claim tax deductions. Under Section 80C of the Income Tax Act, you can claim tax deductions of up to Rs 1.5 lakh on the principal amount of the home loan. In addition, you benefit from a tax deduction of up to Rs 2 lakh on interest paid under Section 24 (b) of the Income Tax Act. You will be asked to submit your provisional mortgage certificate to your employer.