How to Download Your Axis Bank Home Loan Statement?

Whether you are planning your monthly budget, assessing your financial health, or simply keeping an eye on your progress toward becoming debt-free, your Axis Bank home loan statement serves as an essential tool.

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How to Download Axis Bank Home Loan Statement for Income Tax Online?

Suggested Read: Minimum credit score required for a home loan from AXIS Bank

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How to Get Axis Bank Home Loan Statement Offline?

1. Locate and visit your nearest Axis Bank branch.
2. Approach the help desk or a bank representative and request a home loan statement.
3. Provide necessary identification, such as your bank passbook or a government-issued ID.
4. Indicate the specific time period for the statement you need.
5. The bank will print your home loan statement; review it for accuracy.
6. Optionally, ask for the statement to be emailed to you for a digital record.

Check Out: IFCS Code Finder

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Key Details Included in Your Home Loan Statement

Your Bank of India home loan statement serves as an essential financial document, especially for income tax filing and tracking your loan progress. Here are the key details typically included in the statement:

• Loan Account Number
  A unique identifier for your home loan account.
• Borrower Details
  Name, contact information, and co-applicant details (if any).
• Property Information
  Basic details of the property against which the loan was sanctioned.
• Disbursement Summary
  Information on the total loan amount sanctioned, amount disbursed, and disbursement dates.
• Repayment Schedule
  EMI start date, tenure, monthly EMI amount, and due dates.
• Interest and Principal Breakdown
  A monthly or annual summary showing how much of your EMI goes towards interest and how much reduces the principal — crucial for income tax claims under Sections 24(b) and 80C.
• Outstanding Loan Balance
  The remaining balance of your loan as of the statement date.
• Prepayment Details (if any)
  Records of any additional payments made towards the loan, outside of regular EMIs.

Check Out: Axis Bank Customer Care

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How to Use Your Home Loan Statement for Tax Benefit Claims?

Your home loan statement is a crucial document for availing tax benefits on both the interest and principal components of your loan. Here’s how you can use it effectively during tax season:

1. Download Your Home Loan Statement
   Ensure you have the latest home loan statement that covers the entire financial year. It will contain a detailed breakup of principal and interest paid.
2. Understand the Tax Deduction Sections
   • Section 80C: You can claim a deduction of up to ₹1.5 lakh per year on the principal portion of your EMI.
   • Section 24(b): Allows you to claim up to ₹2 lakh per year on the interest paid for a self-occupied property.
3. Review the Interest and Principal Split
   The statement will show month-wise or yearly totals of how much EMI was paid toward interest and how much went toward principal repayment. Use these figures for your tax return.
4. Submit to Employer (For Salaried Individuals)
   If you’re a salaried employee, submit the statement to your HR or payroll department along with any other required documents so they can adjust your TDS accordingly.
5. File Income Tax Return (ITR)
   While filing your ITR:
   • Enter the principal repaid under Section 80C.
   • Enter the interest paid under Section 24(b). Make sure the amounts match what’s reflected in your home loan statement.
6. Keep a Copy for Records
   Always keep a copy of the statement and any related documents safely stored in case of future audits or queries from the Income Tax Department.

Check Out: Home Loan Tax Savings Calculator

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Troubleshooting Bank of India Home Loan Statement Issues

​If you’re experiencing issues with your Bank of India (BOI) home loan statements or tax certificates, here’s a guide to help you address and resolve these problems effectively.​

Common Problems When Downloading Bank of India Loan Statements

If you’re facing trouble accessing or downloading your Bank of India home loan statement, here are some common issues and how to deal with them:

1. Login Issues
   Users often face problems logging into the BOI mobile app or net banking. Double-check your user ID and password. If you’ve forgotten your credentials, use the “Forgot Password” option to reset them.
2. Statement Not Showing
   Sometimes the home loan statement may not be visible due to system updates or downtime. Try checking again after a while. If the problem continues, you might need to contact customer support or visit your nearest branch.
3. App or Site Glitches
   Outdated app versions or browser cache can cause functionality issues. Update the app to the latest version or try accessing the statement through a different browser or device.
4. Incomplete Statement
   If the statement doesn’t show the full financial year or is missing some details, manually select the correct date range before generating the statement.

What to Do If Your Tax Certificate Is Incorrect

If you notice any errors in your home loan tax certificate, such as incorrect interest or principal figures, follow these steps:

1. Cross-Verify Information
   Compare the certificate with your loan repayment history and EMI schedule to identify what’s inaccurate.
2. Collect Supporting Documents
   Gather previous statements, payment receipts, and any communication with the bank that supports your correction request.
3. Contact Customer Support
   Reach out to BOI’s customer care through their helpline or email. Clearly explain the issue and attach scanned copies of your supporting documents, if possible.
4. Visit the Branch
   If you’re unable to resolve the issue remotely, visit your loan branch in person with the necessary paperwork. Speaking directly with a loan officer can often speed up the resolution.
5. Request a Revised Certificate
   Once the error is acknowledged, ask for a corrected tax certificate to be issued, ideally well before the income tax filing deadline.

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Conclusion

Managing your Axis Bank home loan statement online is like exploring a digital map of your homeownership journey. By following the steps outlined in this guide, you can navigate effortlessly through your finances and gain a deeper understanding of your home loan details.

If you have further doubts or questions along the way, don’t hesitate to contact Credit Dharma experts. Our dedicated team is here to assist you and provide guidance tailored to your specific needs.

Frequently Asked Questions