How to Download SBI Home Loan Interest Certificate for Tax Exemption? What is the whole process?

If you have taken a home loan from State Bank of India (SBI) or any other bank, then home loan interest certificate is required for income tax exemption on its interest. Home loan interest certificate contains the complete details of the principal and interest paid by you in a financial year.

The borrower is required to submit a home loan certificate under sections 80C and 24 of the Income Tax Act, 1961 to claim tax exemption on the principal and interest payments made for the home loan. This means that to avail the tax benefits on the home loan, you will have to submit the home loan certificate at the time of filing the income tax return. You are required to request a home loan interest certificate from your bank every financial year. Here we are telling you how to get online and offline interest certificate from SBI.

You will not have to pay any fee to get the provisional certificate of SBI home loan. You can get it online or in person. You can get home loan interest certificate online in these steps:

Step 1: Login to the Personal Banking section of Internet Banking on the official website of SBI.

Step 2: Now select e-Services.

Step 3: Select My certificates option.

Step 4: Now select Home Loan Interest Certificate (Provisional) and Actual Home Loan Interest Certificate.

Step 5: Now click on Home Loan Account Number.

Step 6: At last download the home loan interest certificate. This certificate can be downloaded in PDF or HTML format.

how to get offline

To get the Home Loan Interest Provisional Certificate offline, you have to go to the SBI branch and make a written application to the bank. Along with this, the information of necessary details will also have to be given.

How much tax deduction do you get

You can save income tax on home loan principal repaid up to Rs 1.5 lakh every year under Section 80C of the Income Tax Act, 1961. Tax deduction is available on the interest paid on the home loan under section 24B. Tax deduction of up to Rs 2 lakh is available on home loan interest in a financial year.