Massachusetts Finance

Jun 14 2017

SBI MaxGain Home Loan – Generating Provisional Certificate for Income Tax Returns Filing #sbi #home #loan #application #status


Everyone knows buying a house is not only an investment but also a smart way to save tax. There are various sections under income tax act to save tax in terms of principal repaid and the interest.

Section 80C

Under this section, an individual can save tax on the principal repaid in the current financial year. The overall deduction is limited to 1.5 Lakhs which also includes employee provident fund, public provident fund, national savings certificates, life insurance premiums, tax saving fixed deposits etc.

Section 24(b)

This section allows you to deduct the interest paid during the financial year from the taxable income. For self occupied property the limit is 2 Lakhs where for let-out property there is no limit.

How to avail tax benefits?

To avail tax benefits, declare your investments in the beginning of the financial year itself so that the TDS(tax deducted at source) would be same throughout the year. You need to submit the investment proofs to your employer at the end of the financial year, otherwise all tax benefits already availed would be deducted from your last month salary(some employers starts this activity in December and the difference is deducted from the salary for the month of Jan, Feb and Mar).

What kind of proofs need to be submitted for home loan?

You need to submit provisional certificate of your home loan account to avail income tax benefits under Section 24(b) and Section 80c. It should contain breakup of the principal and interest paid in the current financial year, otherwise your employer may reject your claim.

How to get provisional certificate for my SBI MaxGain loan account?

One of the most popular home loan product from State Bank of India named MaxGain did not have an option to generate provisional certificate online but few weeks back SBI introduced this option in their online banking portal.

Earlier, to get the provisional certificate, one had to personally visit the home branch. With the online option, by sitting at home, you can generate principal and interest paid certificate against your loan account, which can be submitted as an investment proof.

How to generate MaxGain Provisional Certificate?

First, log into your SBI online account by going to

Now click on the Enquiries tab

On the left side you will see a link named Home Loan Int. Cert.(Prov). This link will take you to the home loan interest paid certificate generation screen. Click the link.

Now select your home loan account(account type will be OD account – Over Draft account) and click the submit button.

This will generate the interest paid certificate on the screen. Scroll down to the bottom and click on View/Download certificate in PDF Format and download the certificate in pdf format.

This certificate contains the following information:

  • Name and address of the borrower
  • Loan account number
  • Date of sanction
  • Loan limit
  • Actual repayment
  • Expected repayment
  • Total paid, principal and interest

That’s it. Take a printout and submit it to your finance team along with other income tax savings proofs. Now in the comfort of your home or office you can generate the provisional certificate.


Being a nationalized bank SBI has done a good job here, most of the banking features are now available online including opening PPF accounts! Let us know your feedback, feel free to post your comments below, we will get back as soon as possible.

Many people reported they are not able to generate provisional certificate for their active O/D accounts, we strongly advise you to check with your home branch if you face any issue generating statement online.

Update: From this year onwards PAN number of the financial institution from where you have availed housing loan is mandatory to get tax benefits from housing loan. You can find PAN number of State Bank of India here.

There seems to be a problem with the dates in the generated report. Even now (in the month of January) when I am generating a report, the Actual Repayment dates are from 01/04/2014 to 31/05/2014 .
(Expected would have been from 01/04/2014 to 31/12/2014 ).

My employer/finance team wants it to be till date and rejected the certificate. Anybody else encountering the same issue?

For me it generated report from 01/04/2014 to 31/03/2015(April 2014 to March 2015)

Thanks Rajesh. Seems to be a one off problem for me then. Will visit the branch. Thanks.

I can download the certificate, but it shows principal is 0 . Is this correct for a maxgain OD account? and how to get preEMI statement?

I ve MaxGain account. I also submitted provisional certificate. Based on which employer has deducted my income tax. Now, when I calculate actual interest paid, it is less than mentioned in the provisional certificate. e.g. in provisional certificate it is Rs. 1,47,000. whereas in actual interest certificate it is Rs. 89900.00.

So here my question is, while filling IT return do I need to mention 1,47,000.00 or 89,900.00. If I mention 2nd amount then I need to pay more tax.

I m confused! please help.

Dear Sir,
I have maxgain account. I booked a flat in 2013 as under construction. I shifted to this flat in October 2015. Can I get previous years _i.e. 2013/14, 2014-15, 15-16) Interest certificates online? or is there any way to get it? kindly guide.

SBI Generates the OD Provisional Interest Certificate at the end of the Quarter[Not sure if it is only 1st quarter or all quarter].
So any one having new OD will get the certificate after the Quarter end.
In my case I got the Certificate on 24th of April 2016. And my MaxGain OD account was opened on 28th Jan 2015.

Thank you very much. Your post saved my visit to the bank. Thanks a ton

I get below error while checking Provisional Home Loan Interest Certificate thru net banking –

Provisional Home Loan Certificate is not available for the selected account.

Can anyone please advice? My loan account is OD Max Gain and loan is not yet fully disbursed. I am paying Full EMI and I have full transaction rights means I can transfer to/from my OD account.

Thanks in advance,

For SBI MaxGain Home loan (OD account) accounts ,there is no option to generate Home loan Interest certificate or Provisional certificate online.
This is because the Banking software treats the MaxGain as an overdraft account and not as Home loan account.It says there are no Housing loan accounts present when we try to generate the Interest certificate.
The OD account is activated i.e. I can move in and move out money from the account.The loan amount is fully disbursed.

Still if anyone is there who is having SBI Maxgain Home loan and able to generate the Interest certificate online?If so what needs to be done?

Is there any thing that can be done to report this to SBI and rectify this issue in their banking software ?

This article is all about generating interest certificate online. If you are not seeing that option, check with your branch, they will have to activate it.

Is total repayment in a financial year = 12*EMI. Online statement showing total repayment but it is not equal to 12*EMI

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