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All About the Home Loan Provisional Certificate

Oct 14, 2022
All About the Home Loan Provisional Certificate

Having moved to a different city with a brand-new job, professionals often look to buy their dream house. However, monthly rent on houses can become a financial burden over an extended period of time. Hence, most people prefer buying their own homes instead of living in rented apartments. Therefore, getting a home loan to buy the house you always dreamt of is a wise choice.

Get to Know The Home Loan Provisional Certificate Better!

A home loan certificate is a statement accounting for your home loan account that you receive from the lending institution. It consists of the details of the home loan account, including the summary of the interest and principal you have paid towards your home loan in the financial year.

It is an official document that also assists in tax claims for interest paid on home loans. For instance, if you are planning to take a home loan, the lending institution will roll out an official statement at the start of every year that will hold all the details of the loan. The provisional certificate for home loan has many components mentioned. They are:

  • Personal details about the borrowers
  • Interest rates
  • Current year dues or repayment, if any
  • Exact loan amount, including the principal and interest
  • Start and end date
  • Type of interest rate
  • Missed repayment details
  • Home loan account number

Why Should You Have a Home Loan Provisional Certificate?

As per law, home loan borrowers have the flexibility to claim taxes on the interest they pay on their loans. The upper ceiling to the number is INR 2 lakh and can be claimed in a financial year. This can be claimed on the interest paid to the lenders. Additionally, if you have self-occupied property, deductions up to INR 1.5 lakh can be claimed tied to the paid principal amount.

Under Section 80C, when filing taxes, the borrower must submit the home loan provisional certificate. Once they provide this, only then can they claim the returns.

Get A Home Loan Provisional Certificate - Here’s How!

If you have taken a home loan, getting a provisional certificate is a hassle-free process. You can even get a certificate from the comfort of your home. Plenty of lending institutions have given access to their borrowers to download interest certificates online. Moreover, accessing your provisional tax certificate, loan summary statement, and other relevant documents gets easier.

Alternatively, you can visit your nearest branch and directly ask the professionals for a statement. Just pin down your loan account number and proof of identity to get the provisional certificate.

What is a Home Loan Interest Certificate? Is it different from Home Loan Provisional Certificate?

A home loan interest certificate is available and applied to the interest and principal amount of EMI. It is mandatory to track the principal and interest amount paid by the borrower in a fiscal year to claim the tax deductions. The terms “loan interest certificate” and “loan provisional certificate” both measure repayments, but there is a difference between them.

The interest certificate is given by the end of the financial year. It consists of the principal amount and interest you pay to the lender in a financial year. To get the loan interest certificate, one must visit the lending institution.

Then, what is a provisional certificate?

A home loan provisional certificate is issued at the beginning of the financial year. The certificate contains a break-up of the interest amount followed by the principal, which the lender needs to repay during the financial year.


Buying a house, be it in any city, is a soundful investment that requires a minimum level of savings. Alternatively, if you haven’t been able to save the full amount, the way out is to spend a certain percentage right from your pocket that will work as a down payment, followed by opting for a home loan for the rest of the amount.

At SMFG Grihashakti, your home loan gets approval in 3 steps. You can opt for a loan that works best for you from their different loan products. The loan EMI calculator can help in telling you the exact amount you will have to pay off monthly. You can also use the eligibility calculator to see if you are eligible for a home loan.

Disclaimer: *Please note that this article is for your knowledge only. Loans are disbursed at the sole discretion of SMFG Grihashakti. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG Grihashakti’s policy at the time of loan application. If you wish to know more about our products and services, please contact us.

SMFG India Home Finance Co. Ltd. (Formerly Fullerton India Home Finance Co. Ltd.)
CIN number: U65922TN2010PLC076972

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