What is a PNB Bank Interest Certificate?

A PNB Bank interest certificate is a document that shows how much interest you have paid on an education loan during a specific period. It is very beneficial when it comes to tracking of your loan and financial planning. The certificate mentions the interest amount separately from the principal repayment, making it easier to understand your loan details. You can also use this document to claim tax benefits under Section 80E of the Income Tax Act.

PNB Bank interest certificate has the following divisions:

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  Total interest paid during the financial year.
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  Loan account details like account number.
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  Sometimes, the principal repayment amount is also mentioned.

The PNB Bank interest certificate is a document that gives you a snapshot of your loan repayment progress. Please note that for detailed calculation, you can check you loan amoritizaiton schedule.

Why Do You Need a PNB Bank Interest Certificate?

The PNB Bank interest certificate is essential for several reasons, especially for students studying abroad. Here’s why:

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  Tax Benefits on Interest: Under Section 80E of the Income Tax Act, you can claim a tax deduction for the interest you paid on your education loan. This is beneficial for students or their co-borrowers (usually parents or guardians) as it helps them reduce their tax burden. You need this interest certificate to submit as proof to avail of tax deduction.

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  Loan Repayment Planning: The certificate clearly shows how much you have paid toward interest and principal. This helps you understand your financial commitments and plan repayments better.

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  Financial Proof: If you need to apply for further financial assistance, scholarships, or even refinance your loan, the interest certificate acts as proof of your payment history. It shows your financial discipline, which can help you secure better terms when it comes to other loans.

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  Budgeting and Financial Planning: With a clear record of your payments, you can plan your future installments or even make early repayments. This is especially helpful for students managing multiple expenses.

How to Get a PNB Bank Interest Certificate?

Getting your interest certificate from PNB Bank is simple. You have three main options:

Online Banking Portal:

Many students have asked, “How can I download my PNB bank interest certificate ?” The easiest way to get your interest certificate is through PNB Bank’s online banking platform. Here’s how:

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  Login to your PNB Internet Banking account.
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  Click on “Manage Accounts” and then click on “Loan Accounts”.
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  Select the financial year for which you want the interest certificate and then click on submit.
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  Download the interest certificate in PDF format.

This method is very convenient, especially for students living abroad, as it saves you from visiting a branch.

Mobile Banking Application:

You can get your interest certificate from the PNB One mobile app. Please follow these steps:

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  Log in to your PNB One app and navigate to the Accounts/ Statements section. 
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  Now select your education loan account 
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  Then tap on “Download the PNB interest certificate”.

Visit a Branch:

You can also get your interest certificate from the PNB bank branch. Here are the steps you need to follow:

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  Visit the nearest PNB bank branch.
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  Fill out a request form for the interest certificate.
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  Specify the period for which you need the certificate.

Keep in mind that processing may take a few days, so plan accordingly if you need the certificate urgently.

Call Customer Support:

You can contact PNB customer support and request the interest certificate. You can call PNB customer support at 0800 849 9229, Monday to Friday between 9 am to 5 pm. You can also email them at customersupport@pnbint.com

Information Included in a PNB Interest Certificate

The PNB Interest Certificate has several pieces of information that are very important for borrowers, especially when it comes to tax returns. The information mentioned in the interest certificate is essential to claim deductions under Section 80E of the Income Tax Act. Let us understand from the table below:

How GyanDhan Can Assist You 

Managing education loans, especially for studying abroad, can be a complex and time-consuming process. GyanDhan simplifies this journey by guiding students through every step, from application to approval. The best part? Our services are completely free. Simply check your loan eligibility with us, and one of our expert education loan counselors will assist you with all your queries and concerns.

Frequently Asked Questions