At each exercise, it is essential to request a certificate of mortgage interest from your bank.
Your lender will provide you with a statement of your home loan account, called a home loan certificate. This is a summary of the interest and principal you have paid on your home loan during the current fiscal year.
How to obtain an SBI provisional mortgage certificate online
You will not have to pay any fees to obtain this certificate, whether it is obtained online or in person.
Step 1: Visit the SBI website at https://www.onlinesbi.com/personal/
Step 2: Log in using your net banking credentials
Step 3: Click on the ‘e-Services’ tab and click on ‘My certificates’
Step 4: Click on ‘Certificate of interest on mortgage loan’ or Certificate of interest on mortgage loan (provisional)
Step 5: Click on the loan on the loan account
Step 5: Print or download your home loan interest certificate
How to Get SBI Home Loan Provisional Certificate Offline
Clients of State Bank of India Home Loan can also apply for Interim Home Loan Certificate by visiting the branch and submitting a written application with the required details.
Tax saving
You can save income tax on home loan principal repayment amount up to Rs 1.5 lakh every year under Section 80C of the Income Tax Act 1961. The tax savings offered on the interest payment on the home loan under Section 24b. Deduction to claim interest paid is available up to Rs 2 lakh within the aggregate limit of Section 24b in a financial year.
