Provisional Home Loan Interest Certificate

Home Loan Provisional Certificate

Know All About Home Loan Provisional Interest Certificate

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Given the rising value of real estate, most people in India today rely on securing home loans, to purchase a property of their choosing. Given the fact that the need for a house is a basic necessity, the Government of India does offer tax deductions on these loans as well. However, to secure these deductions, having a provisional home loan interest certificate is a must. When you are in possession of such a certificate, you can avail of tax deductions on the principal, as well as the interest due. The home loan provisional certificate contains essential details such as interest due at every stage, as well as the principal amount to be repaid to the lender. When you are filing your tax returns at the end of the fiscal year, you must submit the home loan provisional certificate as well, to avail the tax deductions that come with it.

What is the use of Home Loan Certificate?

When you opt for a home loan, you receive a home loan provisional certificate, which can be utilised to claim tax deductions at the end of the fiscal year, at the time of filing your IT returns. As per laws laid down by the IT department, prospective homeowners are eligible for a tax deduction of upto Rs. 2 Lakhs, on the interest you pay to your lender. In the case of a property that is self-occupied, you may also be eligible to claim a deduction of upto Rs. 1.5 Lakhs, on the principal amount. 

How To Get Home Loan Provisional Certificate?

If you have opted for a home loan, the steps to obtain a housing loan provisional certificate are straight-forward. You can easily do so online, by visiting your lending institutions website, and login using your credentials. Once done, you can view the summary statement pertaining to your home loan, as well as access your house loan provisional certificate, and other such documents.

If you wish to do so offline, you must visit the nearest bank branch in your vicinity and place a request for your home loan provisional certificate in person. Here, you will have to provide details such as your PAN card number, proof of date of birth, and account number details.

How to get Bajaj Housing Finance Home Loan Provisional Certificate?

If you wish to obtain your Bajaj Housing Finance home loan certificate, follow the steps mentioned below:

  • Step 1: Start by visiting the Bajaj Housing Finance Limited website.

  • Step 2: Enter your email address, phone number, or your customer ID.

  • Step 3: Login by using the OTP you would have received.

  • Step 4: Click on the ‘Services’ tab, and then click on ‘View Details’ of the loan pertaining to you.

  • Step 5: Next, click on ‘E-Statements’.

  • Step 6: You can now view and download your Bajaj Housing Finance home loan provisional certificate.

How to get ICICI Home Loan Provisional Certificate?

If you wish to obtain your ICICI provisional home loan certificate, follow the steps mentioned below:

  • Step 1: Start by visiting the ICICI website, and click on the login page.

  • Step 2: Proceed by logging in using your user ID and password.

  • Step 3: Once you have logged in, click on the ‘Enquiries’ tab.

  • Step 4: Proceed by then clicking on the ‘Home Loan Provisional Certificate’ tab.

  • Step 5: Next, enter details pertaining to your home loan.

  • Step 6: This will then show you details of your ICICI home loan, from which you can download your provisional home loan certificate

How to get PNB Home Loan Provisional Certificate?

If you wish to obtain your PNB provisional home loan certificate, follow the steps mentioned below:

  • Step 1: Start by visiting the PNB website, and then click on the login page.

  • Step 2: Next, you must proceed by logging in using your user ID and password.

  • Step 3: Once you have logged in, click on the ‘Enquiries’ tab.

  • Step 4: Proceed by then clicking on the ‘Home Loan Provisional Certificate’ tab.

  • Step 5: Next, enter details pertaining to your home loan.

  • Step 6: Finally, this will then show you details of your PNB housing loan, from which you can download your provisional home loan certificate.

FAQs on Home Loan Provisional Certificate

  • ✔️What is the difference between home loan interest certificate and provisional certificate?

    When you opt for a housing loan, a provisional home loan certificate is handed to you, at the start of the fiscal year, offering you details of the interest owed, as well as the principal amount. On the other hand, an interest certificate is provided at the end of the fiscal year and mentions details of how much interest is owed for the fiscal year in question.

  • ✔️How can I download my provisional certificate from Union Bank?

    To download your Union Bank home loan provisional certificate, you must (a) visit the official website of Union Bank (b) navigate to the Internet Banking tab, and then click on the ‘Retail User Login’ section (c) login using your user ID and password (d) click on the ‘Enquiries’ tab, and then select ‘Home Loan Provisional Certificate’ (e) here, you can access and download your home loan provisional certificate.

  • ✔️I had opted for a home loan moratorium. Will it be reflected in the provisional certificate?

    Yes, by opting for a loan moratorium, your tax deduction on the principal amount will be reduced, and the home loan provisional certificate will now reflect details of the same.

  • ✔️I have a home loan jointly with my spouse. Can both of us submit the same home loan provisional certificate and claim tax deduction?

    Yes, you can do so. However, here you must note that you and your spouse must be listed as co-owners of the property in question. Based on the proportion of ownership, the interest due on home loans is divided between the co-owners.

  • ✔️Can we get the home loan provisional certificate online? Can we get the home loan provisional certificate offline?

    Yes, you can download your housing loan provisional certificate online, by visiting your lender’s website and logging in using your credentials, and then accessing the Home Loan Provisional Certificate section.