Axis Bank interest certificates can be obtained from the bank when needed. It will help you show the interest you’ve paid on the loan account (home loan or education loans) or earned on deposits (savings or fixed deposit accounts. You can download the document for income tax filing as it helps in claiming deductions.
To obtain the Axis Bank interest certificate, you can visit the nearest bank branch or download it via internet banking and mobile banking. You just need to specify the financial year or enter the custom date range for the period you wish to obtain it. Check all about Axis Bank’s interest certificate in this blog.
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What is Axis Bank Interest Certificate?
Axis Bank interest certificate is an important official document. It details the interest earned on savings accounts, fixed deposits, or other interest-bearing accounts over a specified period. The certificate helps the loan borrowers to check how much interest they have paid in a financial year.
Axis Bank interest certificate is often required for tax purposes, loan applications, or financial audits. Borrowers can claim tax benefits under Section 80E. It means that the interest paid on Axis Bank education loan, home loan, or personal loan be claimed for deduction of tax.
It includes the following details-
- Loan account number
- Name of the borrower
- Total principal amount
- Amount of interest paid
- Amount of interest proposed to be paid
To obtain an interest certificate from Axis Bank, customers can request it through online banking, visit a branch, or contact customer service.
Also Read: Let’s compare the process of funds transfer with the help of HDFC Bank and Axis Bank international money transfer services.
Types of Axis Bank Interest Certificate
Axis Bank provides different types of interest certificates that help customers track the interest paid or earned during a financial year. These are commonly used for tax filing or record-keeping purposes. Below are the main types of interest certificates offered by Axis Bank-
Axis Bank Housing Loan Interest Certificate
- Purpose: Axis Bank housing loan interest certificate shows the breakup of the total interest and principal repaid on a home loan during the financial year.
- Usage: It helps in claiming tax benefits under Sections 24(b) and 80C of the Income Tax Act.
- Where to Obtain: You can download it through Axis Bank’s online banking portal, mobile app, or by visiting a branch.
Education Loan Interest Certificate
- Purpose: It shows the interest paid on education loans in a financial year. You can use Axis Bank education loan interest certificate for claiming income tax rebates on education loans under Section 80E of the Income Tax Act.
- Usage: It helps reduce taxable income for loans taken for higher education.
- Where to Obtain: It is available via the bank’s loan servicing channels.
Personal Loan Interest Certificate
- Purpose: Axis Bank personal loan interest certificate displays the total interest paid on Axis Bank personal loans during a specific period.
- Usage: It can be used for financial tracking or personal budgeting.
- Where to Obtain: You can download this upon request from Axis Bank’s loan department or customer service.
Fixed Deposit (FD) Interest Certificate
- Purpose: The FC interest certificate provides details of the interest earned on fixed deposits during a financial year.
- Usage: It is essential for tax reporting under “Income from Other Sources.”
- Where to Obtain: The Axis Bank interest certificate can be downloaded from internet banking or requested at a branch.
Savings Account Interest Certificate
- Purpose: Axis Bank interest certificate for savings account details the interest earned.
- Usage: It is useful for filing income tax returns (up to INR 10,000 is tax-exempt under Section 80TTA for regular individuals).
- Where to Obtain: It is accessible via internet banking, the mobile app, or by contacting a branch.
Uses of Axis Bank Interest Certificate
Axis Bank Interest Certificate serves several important purposes or both deposit and loan accounts. For deposit accounts, they provide proof of interest earned, assist in financial planning, and are necessary for tax filings. For loan accounts, these certificates document interest paid, help in tax deductions under Section 80E. Check out the uses in the table below-
| Uses of Axis Bank Interest Certificate for Deposit Accounts | Uses of Axis Bank Interest Certificate for Loan Accounts |
|---|---|
| Provides proof of interest earned for tax filing purposes | Documents interest paid for tax deductions under Section 80E |
| Helps in financial planning and tracking savings growth | Assists in loan applications by detailing existing obligations |
| Required for loan applications to demonstrate savings | Useful during financial audits to verify loan payments |
| Aids in assessing the performance of fixed deposits | Serves as evidence in case of disputes regarding interest calculations |
| Can be used to apply for educational or personal loans | Helps in understanding repayment schedules and amounts owed |
How to Obtain an Axis Bank Interest Certificate Online?
Axis Bank interest certificate can be obtained immediately. This can be generated online through the Axis Bank mobile app or internet banking, and offline by visiting the nearest bank branch. You can also call the toll-free number 18001035577. To download your interest certificate from Axis Bank, you simply need to follow the steps-
Through Axis Bank Mobile App-
- Log in to the Axis Bank Mobile App
- Click on ‘More’ and then ‘Services’
- Navigate to the ‘Loans’ section
- Click on ‘Interest Certificate’
- Now, click on ‘Download/ E-mail’ to obtain the interest certificate
Through Internet Banking
- Log in to Axis Bank internet banking
- Navigate to the ‘Loans’ section
- Click on ‘Interest Certificate’
- Now, click on ‘Download/ E-mail’ to obtain the interest certificate
Also Read: When taking an education loan, it is important to compare the education loan interest rates of different banks and NBFCs to know the best-suited loan scheme and the avail lowest interest rates on education loans.
Latest Axis Bank Education Loan Details
Axis Bank education loans are the most preferred option among aspiring international students with no upper limit. The financing of funds is based on the individual borrower’s needs. Unsecured education loans from Axis banks can be availed up to INR 75 lakhs with competitive interest rates, starting from 13.70% p.a onwards.
| Maximum Loan Amount | With collateral- No upper limit Without collateral– Up to INR 75 lakhs |
| Interest Rates | 13.70% onwards |
| Repayment Tenure | 12 – 240 months |
| Benefits | Pre-admission loan sanction 100% education loan financing Maximum loan repayment tenure |
Here’s why aspiring international students count on Axis Bank education loans to study abroad-
- Axis Bank education loan disbursement process is completely online and hassle-free. Students can stay worry-free about the quick, safe, secure and convenient transfer of funds.
- Axis Bank Forex cards for students allow them to manage money and other finances easily when embarking on their study-abroad journey.
This was all about the Axis Bank interest certificate. Understanding how to obtain it is important as it helps the borrowers of education loans to claim income tax rebates under Section 80E of the Income Tax Act.
FAQs on Axis Bank Interest Certificate
Axis Bank interest certificate is a document that provides Axis Bank customers with a detailed summary of interest credit and debits. It also shows the distribution of the amount paid as the principal amount and the interest amount against the education loan to claim income tax benefits.
Axis Bank interest certificate can be obtained immediately. This can be generated online through the Axis Bank mobile app or internet banking, and offline by visiting the nearest bank branch. You can also call the toll-free number 18001035577.
Interest certificates can be obtained online through the official Axis Bank app or by login to internet banking. Once done, you need to click on ‘More’ and then ‘Services’. Now, navigate to the ‘Loans’ section and click on ‘Interest Certificate’. Click on ‘Download/ E-mail’ to obtain the Axis Bank interest certificate online.
Download the Axis Bank app and log in. Now, click on ‘More’ and then ‘Services’. Navigate to the ‘Loans’ section and click on ‘Interest Certificate’. Now, click on ‘Download/ E-mail’ to obtain the interest certificate.
You can obtain an Axis Bank interest certificate for education loans by requesting it online via the Axis Bank app or internet banking, or by visiting a branch.
Yes, you can request interest certificates for multiple accounts at Axis Bank, provided you specify each account when making the request.
No, obtaining an interest certificate from Axis Bank is typically free of charge for customers.
You can request an interest certificate from Axis Bank as often as needed, especially during tax filing periods or for loan applications.
The interest certificate includes details such as the total interest paid, principal amount, account holder’s name, and the relevant loan period.
The Axis Bank housing loan interest certificate provides borrowers with a detailed summary of interest paid on their housing loan, which can be used to claim tax benefits during income tax filing.
You can obtain your Axis Bank housing loan interest certificate online through the Axis Bank mobile app or internet banking, or by visiting your nearest bank branch.
To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
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