A Home Loan process continues till the loan amount is entirely repaid. As you start repaying your loan and the tenure progresses, you may lose track of your repayment. That is when a Home Loan statement helps you map your repayment journey. It gives you a clear understanding of the amount of loan you have repaid and the outstanding loan amount you are yet to cover, helping you plan and take care of your loan EMIs seamlessly. This article will help you understand the concept of a loan statement and explain its integral part in tax rebates. Read on to know more.
A Home Loan Statement is a detailed summary of your loan repayment in a financial year. This loan statement is also popularly known as the Home Loan provisional certificate. The statement comes in handy to claim tax exemption on your loan EMIs.
The housing loan statement offers a detailed track record of your repayment right from the start to the end date of the tenor. Whether you have pre-paid a part of the loan amount or missed an instalment, all of it is reflected in your loan statement.
The loan statement gives you a clear idea about your loan repayment structure. It shows:
It helps you keep track of your loan repayment and prevent any hassles.
Moreover, the Home Loan statement acts as proof of payment, allowing you to close your loan at the end of the tenor easily.
A home loan account statement includes the following details about your home loan repayment:
A Home Loan statement for income tax is very important. With this statement's help, you can claim a tax rebate on your Home Loan.
A Home Loan repayment is eligible for the following tax exemptions:
Section 80 C of the Indian Income Tax Act.
You can now send your Home Loan Statement application online using the HDFC Bank internet banking portal. Log on to the HDFC Bank internet bank, enter your Home Loan account number, and apply for an E-Loan statement in just a few clicks.
The bank will then mail you a detailed summary of your loan statement to your respective email address.
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*Terms and conditions apply. Home Loan at the sole discretion of HDFC Bank limited. Loan disbursal is subject to documentation and verification as per Banks requirement.