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What is a Home Loan Statement?

Banks and financial institutions issue home loan statements for their customers which essentially comprises details regarding the home loan. The home loan statement is a detailed document mentioning the terms of the housing loan regarding EMIs, penalty charges on missing any installments, etc. that have been mutually decided between a bank and the loan borrower.

Banks and financial institutions issue home loan statements for their customers which essentially comprises details regarding the home loan. The home loan statement is a detailed document mentioning the terms of the housing loan regarding EMIs, penalty charges on missing any installments, etc. that have been mutually decided between a bank and the loan borrower.

 

This statement can be generated at the beginning and end of the financial year. The borrower gets an updated version of the home loan statement with the outstanding loan amount and EMIs pending that have to be paid by the loan borrower.

Key Highlights of Home Loan Statement

  • Helps in planning finances for future

  • Keeps the borrower updated with EMIs

  • Act as proof of borrower’s goodwill

  • Provides tax relaxations

How to Download a Home Loan Statement?

  • To issue a housing loan statement online, you will have to follow these steps –

  • Open the official website of the bank from where you took the housing loan.

  • Go to the official net banking page on the bank’s website.

  • You will have to log in to your net banking services account using your login credentials.

  • Once you have logged in to your account, select ‘home loan statement’ from the menu.

  • Enter your housing loan details to generate a home loan statement.

  • As soon as you enter details, your housing loan statement will appear on your screen. Now, you have the option to read it online, print hard copies of your home loan statement, or download an e-copy on your device.