What is a Home Loan Account Statement?
When you start repaying your home loan, you will receive something called a home loan statement from your lender. In most cases, this statement can be accessed online by signing into the dedicated customer portal of the lender. This home loan statement may also be emailed to the you by the lender.
The home loan account statement shows the record of repayment of the loan, for the set tenor. It showcases the loan amount, start and end dates of the loan tenor, the home loan interest rate applicable and the type of interest rate (whether fixed or floating), the total amount repaid to date, the previous EMI amount, how much loan remains to be repaid, and more.
If you have part-prepaid your loan, or missed an instalment for any reason, it is recorded in your account statement as well. The requisite adjustment in the principal amount is also recorded within the statement, so that you have a clear and accurate picture of how much you have repaid, and how much you need to repay in the future.
As such, your home loan account statement is the most important document pertaining to your loan. Without your account statement, you can end up losing track of your repayment, which can lead to financial hassles in the future. The account statement also helps you prove you have completed repayments on time, which helps you close your loan easily at the end of the tenor.
How to Download Home Loan Statement?
Bajaj Finserv’s Home Loan statement can be accessed online by signing into the Customer Portal or install the Bajaj Finserv Experia App on your mobile to download the account statement and manage your loan.
