Home Loan Statement

Banks and financial institutions issue home loan statements to their customers, which comprise key data regarding the home loan. 

A home loan statement is a detailed document mentioning the terms of the housing loan that have been mutually decided between a lender and the loan borrower. It contains information related to the loan, such as:

• Home loan balance 

• Home loan EMIs to be paid 

• Monthly instalments paid until now

• Applicable interest rate 

• Penalty charges on missing any instalments

• Start and end date of the tenure 

You can generate this statement at the beginning and end of the financial year. This is when you can get an updated version of the home loan statement with the outstanding loan amount and the pending EMIs. 

You can use your home loan account statement to manage your finances in many ways. Here are some ways to utilise it:

• Helps in planning finances for the future 

• Act as proof of your repayment thus far 

• Helps you get tax deductions

To download your housing loan statement online, visit the website of the bank or NFBC from where you availed of the loan. You can follow these steps to download your home loan account statement.

• Step 1: Visit the website of the lender

• Step 2: Log in to your account using your credentials

• Step 3: Select Home Loan Statement section from the menu

• Step 4: Enter your housing loan details to generate a home loan statement

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

Make sure you refer to this document at least once a year, and use it to avail of home loan tax benefits when you file your returns. Check to see that your home loan payments and prepayments are correctly tracked in this statement as well.