ICICI Home Loan Statement Online: By presenting confirmation of their home loan principal and interest payments, a person repaying their home loan can have up to Rs 5 lakh of their income tax-free. The borrower may deduct up to Rs 1.50 lakh from the principal amount of their house loan under Section 80C. They are eligible for an annual deduction of up to Rs 2 lakh under Section 24(B). Under Section 80EEA, the person may also be eligible for an extra tax credit of Rs 1.50 lakh if they are a first-time purchaser.
But to be eligible for all of these deductions, the borrower must provide the income tax department with documentation of their payment of principal and interest on their house loan. Does this imply that you will need to go to the bank branch to get a statement from the bank detailing the repayment of your house loan? No, if you have a home loan from ICICI Bank, a renowned private lender!
One of the top private banks in India offering reasonably priced house loans is ICICI Bank. For example, the lender is offering home loans starting in February 2024 at an annual interest rate of 8.55%. For registered users of ICICI bank clients, viewing and downloading the house loan interest certificate is also rather simple due to its incredibly user-friendly interface.
A home loan account statement: what is it? What applications does it have?
The amount of money a borrower pays toward principal and interest on a home loan each year is listed on an account statement. The loan tenure, interest paid during the year, principal paid during the year, total loan amount, balance due, and other details are all mentioned in the statement. Any partial payments or missing installments made by the borrower will also be shown in the statement. The home loan account statement contains the following information, to put it briefly:
- Name of the borrower
- Name of bank
- Total home loan amount
- Start and end date of home loan repayment
- Home loan interest rate
- Type of interest rate (fixed or floating)
- Loan amount repaid
- Total home loan EMI amount
- Outstanding home loan amount
Utilizing the interest certificate for a home loan
- You may see a comprehensive breakdown of the principal and interest paid so far on your home loan interest certificate.
- You cannot obtain home loan tax benefits without this paperwork.
- You will also require this paperwork if you wish to apply for another mortgage.
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Use of home loan interest certificate
- First step: Go to https://www.icicibank.com/Personal-Banking/insta-banking/internet-banking/index.page to access ICICI Bank’s online banking service.
- Step 2: Enter your password and Net Banking user ID to log in.
- Step 3: Select “E-statement” from the screen that displays.
- Step 4: You must choose the account number and the time for which you require the statement from the list of various account numbers that may show up in the drop-down menu.
Download the home loan statement for ICICI Bank.
After completing the aforementioned steps and seeing your ICICI Bank home loan interest certificate on the screen, select “PDF” to produce the home loan statement. Additionally, you will have the option to obtain the Excel version of your ICICI Bank home loan interest certificate.
When will you need the interest certificate for your home loan from ICICI Bank?
To file for tax deductions, you will need the documentation attesting to your investments.
Should you be applying for another loan, this paperwork must be submitted.
This document also explains to you how the bank is collecting the principal and interest on your home loan, as well as the amount you have previously paid and the remaining amount you owe the bank.
How can I check the status of my ICICI home loan application?
By following a few simple steps, those who have applied for a house loan with ICICI Bank will also be able to check the progress of their application.
Including the form number or reference number
Visit the bank’s official website. The house loan tab can be found under products in the personal banking area. To access the “Track My Status” feature, click on it. Enter your reference number or form number to find out how your application is progressing.
What happens if the reference number escapes you?
In this instance, to follow the progress of your application, you will need to furnish several personal facts, including name, date of birth, PAN, loan amount and type, and the answers to a few security questions.
