I have a MaxGain home loan account. I have deposited surplus cash equal to the outstanding balance. As a result, no interest was deducted for the current FY 2013-14. However, the EMI was transferred from my salary A\C in another bank to MaxGain A\C. I have also made a partial prepayment in December. There is a corresponding reduction in the drawing power.

However, when I requested for an interest certificate for this FY, I was told that I won’t get any! The reason being, there is no interest and principle ’involved’ since the AC has credit balance.

I can understand the interest part but what about the principle? Isn’t there any repayment of the principle from the regular EMI and the partial prepayment? I should a certificate mentioning the principle, right?