Frequently Asked Questions
- For what type of loans does the bank provide Interest certificates?
Interest rate certificates are issued to customers who have availed Home Loan facility from Deutsche Bank. The Loan availed can be for construction or purchase of a residential property.
- When is the Provisional Interest Certificate & Final Interest certificate issued?
The provisional tax certificate is issued at the beginning of every financial year and is based on the interest rates prevailing as on the date of that certificate. The Final Interest Certificate is issued at the end of every financial year based on the actual principal and interest payment done by the customer during the year. Thus, Provisional certificate is an indication of the amount which is payable during the current financial year, whereas the Final certificate is the actual amount paid during the previous financial year.
- What details do I need to provide before I can download the Interest Certificate?
You need to provide, your Loan Account Number, Date of Birth, Permanent Account Number (PAN) & Repayment Account No. from which the repayment is being currently made.
- What steps do I need to follow to download my Loan Interest Certificate?
To download your Loan Interest Certificate, please follow the below mentioned steps :
Step 1: Complete the authentication parameter i.e Loan Account Number, Date of Birth, PAN Number & Account No. (from which repayment is done). - Refer Point 3
Step 2: Click on the Submit Button.
Step 3: On successful authentication, the screen will populate the option to generate and download the Interest Certificate.
- In case of change in interest rate, when & how can I receive an alternative Provisional Interest Certificate?
There will be a waiting period of 30 days to view the interest certificate on-line from the date of the change. In case of urgency please call us on 1860 266 6660#.
- In case of change in terms and conditions of my loan including part prepayment, when & how can I receive an alternative Provisional Interest Certificate?
There will be a waiting period of 30 days to view the interest certificate on-line from the date of the change. Incase of urgency please call us on 1860 266 6660#.
- Incase there is a discrepancy in the statement, how can I get the same rectified?
In case there is any discrepancy in the statement, you need to contact us immediately on 1860 266 6660#. Alternative you may write to us firstname.lastname@example.org
- Is it possible to get an interest certificate only in my name and not in our joint names for my joint loan account?
If the loan is availed in a joint manner, Bank will issue the certificate in the joint name only.
- What are the income tax benefits which I can avail by using the interest certificates?
If you have availed of a home loan, you can claim tax benefits on both the principal and interest components of the home loan as per the Income Tax Act. These benefits are in the form of deductions available to assesses who have taken a loan to either buy a house or build one.
Under section 80(c), repayment of principal of up to Rs. 1 lac is deductible in full from your income which means you can save tax up to a maximum of Rs. 20,000 p.a. on principal. Similarly under section 24 of the Income Tax Act, interest is deductible up to a maximum of Rs. 150000.
- What are the income tax benefits on the PEMI amount paid?
The entire PEMI interest amount (the interest amount paid during construction period) is allowed as a deduction under Sec 24 of Income Tax Act, equally over five years (20 per cent of total interest paid), starting from the year in which the construction is completed.
- Will I get interest certificate from the bank on my partly disbursed loan?
Provisional Interest Certificate will not be issued since the loan is partly disbursed, however you will get the Final Interest Certificate at the end of the financial year.
- Will I get interest certificate from the bank on my loan against a commercial / residential property?
Interest certificate will not be issued for loan against residential / commercial property.
- How can I obtain an interest certificate for my loan account which I have closed during the year?
To obtain an interest certificate for your loan account which you have closed during the year, you may contact us on 1860 266 6660#. Alternative you may write to us email@example.com.
Please note that Interest Certificate can only be downloaded for active Loans.
- I cannot download my interest certificate - how can I obtain a copy of the same?
To help you download your interest certificate or to obtain a copy, you may call us on 1860 266 6660#.
# Customers outside India need to dial +91 22 6601 6660. Customers in Mumbai can also call at 6601 6660. Call charges apply.