Check & Download Bank of India Home Loan Statement

Your Bank of India home loan statement provides a clear and complete overview of your loan. It details your payment history, interest charges, outstanding balance, and other pertinent dates and figures. You can easily access and download this statement via the bank's official website or by visiting the nearest bank branch. As it shows the total interest you have paid, this document is also useful for a tax deduction. So Urban Money offers a complete overview of BOI home loan statement download. We further explain the importance of regularly reviewing your loan statement and how it can help you stay on top of your repayment schedule.

Why is the Bank of India Home Loan Statement Necessary?

Following are some key points that highlight the importance of learning about the BOI home loan statement:

• Tracking Loan Progress: It helps you keep track of the outstanding loan balance and how much of the loan has been repaid. This is essential for financial planning and gives you a clear picture of your progress towards becoming debt-free.
• Budget Planning: Knowing the exact amount of your monthly EMI and the breakdown of principal and interest can help you plan your monthly budget more effectively. It further reminds you about your commitment, helping you manage finances efficiently and avoid unpleasant surprises in your financial journey.
• Tax Documentation: The statement serves as proof of interest paid on your home loan, which is necessary for claiming tax deductions under Section 24 of the Income Tax Act. Without this statement, you may be unable to avail of the tax benefits associated with home loan repayments.
• Creditworthiness: When applying for additional loans or credit facilities, lenders may request your home loan statement to assess your creditworthiness and repayment capacity based on your existing loan obligations.
• Loan Health Indicator: Regularly reviewing your home loan statement can act as an early warning system for discrepancies or issues with your loan account. It can help you identify errors and take timely action to resolve them.

How Do You View and Download the Bank of India Home Loan Statement Online?

Here is the step-by-step procedure to download your Bank of India home loan statement online:

Step 1: Go to the Bank of India’s official online banking portal.

Step 2: Enter your login credentials to access your account.

Step 3: Head to the ‘Enquiries’ section.

Step 4: Choose the option for ‘Home Loan Provisional Certificate.’

Step 5: You will then have the option to download, print, or view the statement.

How Do You Access the Bank of India Home Loan Statement Offline?

To access your Bank of India home loan statement offline, you can use one of the following methods:

• Call Customer Care: Dial 1800 103 1906 and request they send your home loan statement to your registered email address. They may ask for your loan account number and other pertinent details for verification.
• Visit the Branch: Visit the nearest Bank of India branch and request your BOI home loan statement; you may need to complete a request form. Ensure you carry your loan account details and identity proof for verification purposes.