Home Loan Transfer :
A home loan borrower from another bank or lender can transfer his loan balance to India’s largest public sector lender State Bank of India (SBI).
SBI’s website says it offers ‘Balance transfer of home loans that the customer can avail from Scheduled Commercial Banks (SCBs),
Private and Foreign Banks, Housing Finance Companies (HFCs) registered with the National Housing Bank (NHB) and borrowers Enables transfer of home loans from employers of Central/State Government or their undertakings or Public Sector Undertakings subject to the condition that the borrower fulfills the eligibility criteria for
availing the home loan as per the instructions of the Bank and has regularly repaid the interest and/or installment of the existing loan as per the original terms of the sanction.’
The borrower should have valid documents evidencing the title of the house/flat.
Documents to Transfer Home Loan to SBI
1) Employer identification
2) CardLoan Application: Duly fill out the loan application form with three passport-size photographs
3) Proof of Identity (Any One): PAN/Passport/Driving License/Voter ID Card
4) Proof of Residence/Address (Any One)
Recent copy of Telephone Bill/Electricity Bill/Water Bill/Pipeped Gas Bill or Copy of Passport/Driving License/Aadhaar Card
Property papers
1) NOC from Society/Builder
2) registered agreement for sale
3) occupancy certificate
4) Share Certificate (Only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
5) All old agreement papers for sale
These documents are also necessary.
Last six months’ bank account statement of all the bank accounts of the applicant. Salary slip or salary certificate for the last three months
Required documents from another bank
1) List of Original Documents kept in the Bank
2) Loan A/C statement for the last year
3) Acceptance letter
4) Interim period security
