Check & Download Indian Bank Home Loan Statement

Why is the Indian Bank Home Loan Statement Necessary?

Here are the key importance of the Indian Bank home loan statement:

• Tracking Loan Repayment Progress: The statement records the loan amount paid off and the outstanding balance. It helps borrowers to monitor their progress in repaying the loan, including the principal and interest components. This is essential for understanding how much of the loan has been cleared, how much is still owed, and how many EMIs are left to be paid.
• Effective Budgeting: Knowing the exact EMI amount and the interest outgo enables borrowers to plan their monthly finances more effectively. It allows them to allocate funds appropriately and avoid financial strain due to unexpected hikes in loan repayment amounts.
• Ensuring Transparency: The home loan statement ensures complete transparency between the borrower and the bank. It allows borrowers to cross-check their payments with the bank’s records, ensuring that all payments are accounted for and there are no discrepancies.
• Tax Planning: Home loan statements are indispensable for tax planning as they provide details of the interest and principal amounts paid. These figures are necessary to claim tax deductions under various sections of the Income Tax Act, such as Section 24 and Section 80C, which can lead to significant tax savings.
• Loan Management: The statement gives borrowers a comprehensive view of their loan structure, including the interest rate, tenure, and loan terms. This information is vital for managing the loan effectively and making informed decisions about prepayments or refinancing.

How Do You View and Download Indian Bank Home Loan Statement Online?

To download the Indian Bank home loan account statement online, you need to follow the steps outlined below:

Step 1: Visit the official website of the Indian Bank.

Step 2: Access the ‘Net Banking Portal’ and log in with your user ID and password. 

Step 3: Locate the ‘Loans’ section and choose ‘Home Loan Statement.’ 

Step 4: Provide your Loan Account Number or CIF Number and complete the CAPTCHA.

Step 5: Click on ‘Generate Statement’ and download the PDF.

How to Get an Indian Bank Home Loan Statement Offline?

Here are the applicable steps to get your Indian Bank housing loan statement offline:

Step 1: Visit the nearest Indian Bank branch in your area.

Step 2: Request to meet with a loan officer or the bank representative and ask him/her for a home loan statement. 

Step 3: Depending on the bank’s procedure, you may need to fill out a request form or provide verbal confirmation.

Step 4: You will likely need to present your identification and loan account number, so keep these documents ready.

Step 5: The bank will process your request and provide you with the Indian Bank home loan statement.