Home Loan Statement

A home loan statement is a crucial document provided by banks and financial institutions to borrowers. It outlines essential details about their home loan, including agreed-upon terms between the lender and borrower. This statement is accessible at the start and end of the financial year, offering an updated overview of the outstanding loan amount and pending EMIs. It serves as a comprehensive record of the loan's status and transactions.

It contains important information related to the loan, such as: 

• Home loan balance 

• EMIs to be paid 

• Monthly instalments paid till date

• Applicable interest rate 

• Penalty charges on missing any instalments

• Start and end date of the loan tenure

You can use your home loan account statement to manage your finances in the following ways:

• Financial planning for the future 

• Proof of your repayment till date

• Claim tax deductions

You can follow these steps to download your home loan account statement. 

• Visit the website of the lender

• Log in to your account using your credentials

• Locate the home loan statement section

• Enter your loan details to generate your home loan account statement

You have the option to print your statement, read it online, or download an e-copy to your device. 

You can use the document to claim home loan tax benefits when you file your returns. Also, make sure to check that your home loan payments and prepayments are accurately recorded in this statement.