Education Loan Interest Certificate : Download, Format & Section 80E

What is an Interest Certificate and Why Do You Need It?

An education loan interest certificate confirms the interest amount paid on the loan for the relevant financial year. It is different from the regular loan statement, which records transactions and repayments on the account. For tax filing, the important figure is the eligible interest paid, not the principal portion of the EMI.

Banks specifically link education loan tax benefits with Section 80E. Interest paid on an education loan qualifies for the deduction for up to eight years from the year repayment begins, or until the interest is fully repaid, whichever is earlier. This benefit is under the old tax regime.

The certificate is therefore useful evidence of the interest amount for the relevant financial year.

How to Download It From Your Bank/NBFC Portal?

The download process varies by lender. Some banks provide a direct online option, while others offer the certificate through phone banking or customer service.

If an interest-certificate option is not visible in the loan portal, check the lender’s loan-service section or contact the branch servicing the education loan.

What the Certificate Shows (Principal vs Interest Breakup)?

The certificate’s main purpose is to identify the interest amount for the relevant financial year. An EMI contains both principal and interest, but Section 80E relates to the interest paid on the eligible education loan. Therefore, check the certificate against the loan account before using the figure for tax filing. Use the Education Loan EMI Calculator to independently cross-check the expected principal-interest split against your certificate.

If the certificate and loan statement appear to show different amounts, contact the lender and ask it to confirm the financial-year interest figure. HDFC Bank states that customers should contact the bank if there is an error in an interest certificate and request a revised certificate where required.

Using Interest Certificate to Claim Section 80E Deduction

Section 80E provides a deduction for eligible interest paid on an education loan. The deduction applies to interest and not the principal component of the loan repayment.

You can claim the deduction for up to eight years from the year repayment begins, or until the interest is fully repaid, whichever is earlier. The Section 80E benefit is available under the old tax regime.

The person who repays the loan can claim the benefit, whether the student or the parent, as applicable. The person claiming it should meet the applicable Section 80E conditions and be the person making the qualifying repayment.

Review your original education loan sanction letter to confirm the sanctioned interest rate and terms if you notice a discrepancy in your interest certificate.

What to Do if Your Lender Hasn’t Issued an Interest Certificate Yet?

First, check the lender’s loan portal, NetBanking, or mobile banking service. Some banks make the certificate available digitally after the relevant financial year.

If the document is still unavailable, contact the lender’s loan-service team or branch and request an education loan interest certificate for the required financial year.

Provide the lender with the loan account details, and ensure the registered email and PAN details are up to date where required. You may need to update your KYC, PAN, and contact information to issue certificates. If the certificate contains an incorrect figure, ask the lender to verify the loan account and issue a corrected certificate.

If the education loan has been transferred to another lender through education loan refinancing, keep the documents from both lenders. The original lender’s certificate records interest on the old loan, while the new lender will have its own loan records and certificate.

Explore available education loan options from multiple lenders on Urban Money to compare rates and terms before applying or refinancing.