Interest Certificate for ITR: Where to Download & How to Report

Every year around June, my inbox fills up with the same panicked question: "Sir, I got an SMS from the Income Tax Department about a mismatch in my interest income. What do I do?" The person usually filed their return in a hurry, declared the FD interest that got credited to their account, and forgot one crucial thing — the bank had already reported a slightly different (usually higher) figure to the tax department. That gap triggers an automated notice under Section 143(1) or a nudge from the Annual Information Statement (AIS).

Here is a number that surprises most people: your bank deducts TDS at 10% the moment your interest for the year crosses ₹40,000 (₹50,000 for senior citizens), but it reports the full interest earned to the department, not just the part above the threshold. So even someone with modest savings can end up with a reporting gap of a few thousand rupees — enough to invite a query. The fix is embarrassingly simple: download your interest certificate and report the exact figure.

In this guide I'll show you exactly where to download the interest certificate for ITR filing from banks and the post office, how to read it, how to reconcile it with Form 26AS and AIS, and how to report FD, savings and RD interest correctly so you never see a mismatch notice again. Worked examples and a reconciliation checklist included.

Key Takeaways

• An interest certificate is a year-end statement from your bank/post office showing total interest credited or accrued in the financial year — it's the source of truth for your return.
• Banks report your full interest to the tax department even when TDS is zero, so "no TDS" does not mean "no reporting needed."
• Always reconcile the certificate with your AIS and Form 26AS before filing — mismatches are the #1 cause of automated notices.
• Savings account interest gets a deduction of up to ₹10,000 under Section 80TTA; senior citizens get up to ₹50,000 on all deposit interest under 80TTB (old regime only).
• FD interest is taxed on an accrual basis each year, not only when the FD matures — a mistake that catches many first-time investors.
• Download certificates for every account and every bank, including closed accounts and joint accounts, before you file.

What is an interest certificate and why does the ITR need it?

An interest certificate is a consolidated statement your bank or post office issues at the end of each financial year (or on request). It lists the total interest you earned on your savings accounts, fixed deposits (FDs), recurring deposits (RDs) and any other interest-bearing account, along with the TDS deducted, if any.

Think of it as the raw material for the "Income from Other Sources" schedule in your ITR. Salary comes from Form 16, capital gains come from your broker's statement, and interest income comes from this certificate. Without it, you're guessing — and the tax department isn't.

Here's the part people miss. Interest income is taxable in the year it accrues, not just when you withdraw it. If you booked a 3-year FD in April 2023, you must declare the interest that accrued in FY 2023-24, FY 2024-25 and FY 2025-26 separately in each of those years — even though you receive nothing until maturity. The interest certificate spells out exactly how much accrued in that year, which is why it matters.

Interest certificate vs TDS certificate (Form 16A) — don't confuse them

These are two different documents. The interest certificate shows how much interest you earned. Form 16A is the TDS certificate showing how much tax the bank deducted and deposited against your PAN. You need both: the interest figure goes into your income, and the TDS figure goes into your tax-paid column so you get credit for it.

Where to download the interest certificate for ITR filing

The good news is that almost every institution now offers this online. You rarely need to visit a branch. Here's where to get it, bank by bank and for the post office.

1. Major banks (net banking / mobile app)

1. SBI: Log in to net banking → e-Services → My Certificates → select "Interest Certificate on Deposits" and "Interest Certificate on Loans" if you have a loan. Choose the financial year and download the PDF. On the YONO app, go to Service Requests → Interest Certificate.
2. HDFC Bank: Net banking → Accounts tab → Request → Interest Certificate. You can pick FD, savings or loan interest certificates for the chosen FY.
3. ICICI Bank: Log in → Bank Accounts → Service Requests → Deposits → Interest Certificate. The iMobile app has a similar path under Services.
4. Axis Bank: Net banking → Accounts → Deposits → Interest Certificate, or through the mobile app under Services → Statements & Certificates.
5. Kotak, PNB, Bank of Baroda, Canara: All follow a similar route — look under Services, Requests or Certificates in net banking. If you can't find it, call the helpline and ask for the "interest certificate for tax purposes."

2. Post office deposits (POSB, MIS, NSC, SCSS, TD)

Post office schemes are a favourite of senior citizens, and interest here is very much taxable (SCSS and MIS especially). If you have India Post's internet banking, log in and check under statements. Otherwise, visit your home branch and request an interest certificate for the relevant FY — they will print it against your account. For the Senior Citizen Savings Scheme (SCSS), which currently pays 8.2% per annum, the quarterly interest is fully taxable and TDS applies once it crosses the threshold.

3. Company FDs and NBFCs

Companies like Bajaj Finance, Shriram Finance or LIC Housing issue interest certificates through their customer portals or on email request. These often pay higher rates than bank FDs but the interest is fully taxable, and TDS kicks in above ₹5,000 for company deposits — a lower threshold than bank FDs, so watch out.

Pro tip: Don't rely only on the certificate from your current bank. If you closed an account or broke an FD mid-year, that bank still reported the interest to the department under your PAN. Download a certificate from every institution you held an account with during the year — including that "dormant" savings account you forgot about.

How to read your interest certificate correctly

A typical bank interest certificate has three or four columns you must understand:

• Interest paid/credited: Interest actually deposited to your account during the year — relevant for savings accounts and matured FDs.
• Interest accrued (but not paid): For cumulative FDs where interest compounds and is paid only at maturity, this shows the interest earned this year. This is what you declare, even though you didn't receive cash.
• TDS deducted: Tax the bank withheld at 10% (or 20% if PAN wasn't seeded). This must match your Form 26AS.
• Account/deposit number: Helps you reconcile joint accounts.

Common mistake: declaring only "interest paid" on cumulative FDs

Suppose you invested ₹5,00,000 in a 5-year cumulative FD at 7%. You get no interest in your account until year five. Many people declare zero interest for years one to four and then a lump sum at maturity. That's wrong. The bank reports accrued interest every single year. If your certificate shows ₹35,000 accrued this year, that ₹35,000 is taxable this year. Miss it, and the mismatch appears in your AIS.

How much tax do you actually pay on interest income?

Interest income is added to your total income and taxed at your slab rate. But there are two important deductions to know (available only under the old tax regime):

• Section 80TTA: Up to ₹10,000 deduction on savings account interest for individuals below 60. FD interest does NOT qualify.
• Section 80TTB: Up to ₹50,000 deduction on all deposit interest (savings + FD + RD + post office) for senior citizens (60+). This is much more generous.

Worked example: Mr Rao, a 65-year-old retiree

Let's take Mr Rao, aged 65, who has parked his retirement corpus across several deposits. In FY 2025-26 he earns:

• Savings account interest: ₹18,000
• Bank FD interest: ₹1,90,000
• SCSS interest: ₹1,64,000 (on a ₹20 lakh deposit at 8.2%)
• Post office MIS interest: ₹55,500

His total interest income is ₹4,27,500. Under the old regime, he can claim ₹50,000 under Section 80TTB, so his taxable interest becomes ₹3,77,500. Assume he also has a pension of ₹3,00,000.

Let's compute step by step under the old regime:

1. Gross total income = ₹3,00,000 (pension) + ₹4,27,500 (interest) = ₹7,27,500
2. Less 80TTB deduction = ₹50,000 → Net taxable income = ₹6,77,500
3. Senior citizen basic exemption = ₹3,00,000
4. Tax on ₹3,00,001–₹5,00,000 (5%) = ₹10,000
5. Tax on ₹5,00,001–₹6,77,500 (20%) = ₹35,500
6. Total tax before rebate = ₹45,500. Since income exceeds ₹5 lakh, the 87A rebate doesn't apply here in the old regime.

Now compare the banks' TDS: they likely deducted around ₹35,400 (10% on FD + SCSS + MIS interest above thresholds). Mr Rao must pay the balance as self-assessment tax and claim credit for the TDS. If he had ignored the accrued figures and under-declared, he'd have received a demand notice with interest under Section 234B. To see how the numbers shift between regimes, run them through our Income Tax Calculator, and if you want the deposit-level breakup, our FD Calculator shows year-by-year accrued interest. For a deeper dive into senior-citizen slabs, read our guide on senior citizen income tax for AY 2026-27.

Old regime vs new regime: which is better for interest-heavy incomes?

Because 80TTA and 80TTB are only available in the old regime, retirees with large deposit income need to check both. But the new regime has a higher basic exemption and rebate. Here's a simplified comparison for FY 2025-26, assuming a senior citizen with pension + interest income and no other deductions:

Total income	Old regime tax (with ₹50k 80TTB)	New regime tax (with ₹75k std. ded.)	Better choice
₹7,00,000	₹35,500	₹0 (87A rebate)	New regime
₹10,00,000	₹94,500	₹44,200	New regime
₹14,00,000	₹2,14,500	₹1,04,000	New regime

Figures are indicative and rounded; actual tax depends on your exact deductions and cess. For most people with no home loan or large 80C investments, the new regime wins even after losing 80TTB. But if you have significant deductions, the old regime may still edge ahead — always run both. Our detailed breakdown of the Section 87A rebate for 2026 explains why incomes up to ₹12 lakh can now pay zero tax under the new regime.

How to reconcile your interest certificate with AIS and Form 26AS

This is the single most important step to avoid notices. Before you punch numbers into your ITR, do this reconciliation:

1. Download Form 26AS: Log in to the income tax portal (incometax.gov.in) → e-File → Income Tax Returns → View Form 26AS. This shows all TDS deducted against your PAN.
2. Download AIS (Annual Information Statement): On the portal, go to Services → AIS. The AIS lists interest income reported by each bank, dividend, mutual fund transactions and more.
3. Match the interest figures: Take each interest certificate and cross-check the amount against the corresponding entry in your AIS. They should match closely. Small differences can arise from accrual timing.
4. Match the TDS: The TDS on your certificate must equal the TDS in Form 26AS. If a bank deducted TDS but it's missing from 26AS, contact the bank — they may not have filed their TDS return correctly.
5. Flag and correct AIS errors: If the AIS shows interest you never earned (say, from a joint account where you're the second holder), you can submit feedback within the AIS marking the information as "not fully correct" and explaining.

Common mistake: In a joint FD, interest is often reported in the AIS of the first holder only, but sometimes both holders see it. Decide clearly whose income it is (usually the person who funded the deposit), report it there, and use AIS feedback to correct the other person's record. Reporting it in both returns means one of you double-pays.

Step-by-step: reporting interest income in your ITR

Assuming you're filing ITR-1 (Sahaj) or ITR-2, here's how to enter interest income correctly:

1. Go to the Income from Other Sources schedule.
2. Under "Interest," enter savings bank interest, FD/deposit interest, and any other interest separately in the given sub-heads.
3. Total these up — the figure should reconcile with the sum of all your interest certificates and the AIS.
4. Under Chapter VI-A deductions (old regime only), claim Section 80TTA (up to ₹10,000, non-seniors) or 80TTB (up to ₹50,000, seniors).
5. Ensure the TDS claimed in the tax-paid schedule matches Form 26AS. Enter the TAN of each deductor if the utility asks.
6. If your total tax after TDS is positive, pay the balance as self-assessment tax (Challan 280) before submitting to avoid interest under Section 234B and 234C.

If you're worried about missing the deadline, note that late filing attracts a fee under Section 234F plus interest — our guide on ITR filing deadlines and late fees for 2026 covers the exact penalties.

Special situations you shouldn't overlook

RD (Recurring Deposit) interest

RD interest is fully taxable and TDS applies just like FDs once the ₹40,000/₹50,000 threshold is crossed. Download the RD interest certificate too and model your maturity using our RD Calculator.

PPF and tax-free bonds

PPF interest is completely tax-free and does not go into your taxable income — but it may still appear in your AIS for information. Don't add it to taxable interest. Check your projected PPF corpus with the PPF Calculator.

Form 15G / 15H to avoid TDS

If your total income is below the taxable limit, submit Form 15G (below 60) or Form 15H (senior citizens) to your bank at the start of the year so no TDS is deducted. But remember: even if TDS is nil, the interest is still reportable if you're otherwise required to file. Filing avoids a mismatch when the bank reports the income.

Frequently Asked Questions

Do I need an interest certificate if my bank didn't deduct any TDS?

Yes. TDS is deducted only above the threshold, but banks report your full interest to the tax department regardless. You need the certificate to declare the correct income and match it against your AIS, otherwise a mismatch notice can follow.

Where can I download my SBI interest certificate for ITR?

Log in to SBI net banking, go to e-Services → My Certificates → Interest Certificate on Deposits, select the financial year and download the PDF. On the YONO app, it's under Service Requests → Interest Certificate.

Is FD interest taxed every year or only at maturity?

FD interest is taxed on an accrual basis every financial year, even for cumulative FDs where you receive the money only at maturity. Your interest certificate shows the accrued interest for each year — declare that amount annually.

How much savings account interest is tax-free?

Under the old regime, individuals below 60 can claim up to ₹10,000 of savings interest as a deduction under Section 80TTA. Senior citizens can claim up to ₹50,000 on all deposit interest under Section 80TTB. These deductions are not available in the new regime.

What happens if the interest in my AIS doesn't match my certificate?

Small timing differences are normal. If there's a genuine error — like interest from a joint account you don't own — you can submit feedback in the AIS marking the entry as incorrect. Always report the figure that reflects your true income and keep the certificate as proof.

Is post office SCSS and MIS interest taxable?

Yes, fully. SCSS pays 8.2% and MIS around 7.4%, and both are added to your income and taxed at your slab rate. TDS applies once interest crosses the threshold. Download the post office interest certificate from your branch each year.

Do I report PPF interest in my ITR?

PPF interest is tax-exempt, so it doesn't get added to your taxable income. It may appear in your AIS for reporting purposes, but you should not include it in the taxable interest figure.

Final word

Getting the interest certificate for ITR filing right is one of those small tasks that saves you from big headaches. It takes ten minutes to download from each bank, another twenty to reconcile against your AIS and Form 26AS, and it eliminates the most common reason for automated tax notices. Treat it as a non-negotiable step in your filing checklist, especially if you're a retiree living off deposit income.

Before you file, run your numbers: use the Income Tax Calculator to compare regimes, the FD Calculator to verify accrued interest, and browse all our free financial calculators to plan your next investment. Have a tricky reconciliation question? Reach out to us — and if you'd like to know more about who's behind these guides, visit our about page. File accurately, keep your certificates, and sleep easy.

Image credit: Scrabble Series Income Tax — ccPixs.com, via flickr (BY 2.0), sourced from Openverse.