What is a home loan provisional certificate?

A home loan provisional certificate serves as proof of home loan repayment and a statement containing a summary of the interest and the principal amounts repaid during the financial year.

Your lender may also provide a provisional certificate for the home loan at the beginning of the financial year to indicate the principal and interest amounts you must pay that year.

How to get a home loan provisional certificate?

It is easy to obtain a provisional certificate for a home loan, as most lenders allow their customers to access their home loan details online. Therefore, you only have to visit your lender’s official website or download the app, log in to your account, and access your home loan statement, home loan provisional certificate, and other relevant documents.

For Bajaj Finserv customers, the same will be valid on the Experia app.

What is the use of a home loan provisional certificate?

You can use the provisional certificate for home loan tax deductions. There are different tax deductions for principal and interest repayment. You can claim a certain amount against the principal repaid under Section 80C of the Income Tax Act. Under this section, you can also claim the registration fee and stamp duty charges as deductions. Likewise, you can claim a part of the interest repaid under Section 24 and Section 80EE/ 80EEA. 

To successfully avail of these home loan tax benefits, submit your home loan certificate or the home loan provisional certificate while filing your returns.