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SBI Balance Transfer of Home Loan

Switch your Home Loan to SBI and Save Big!

SBI offers Balance Transfer of home loan that enables a customer to transfer home loan from Scheduled Commercial Banks (SCBs), Private and Foreign Banks, Housing Finance Companies (HFCs) registered with National Housing Bank (NHB) and Borrower’s employers if they are Central/State Govt or their undertakings or Public Sector Undertaking subject to condition that the borrower should satisfy the eligibility criteria for availing Home Loan as per the Bank's instruction and has serviced interest and/or installment of the existing loan regularly, as per the original terms of sanction. The borrower should have valid documents evidencing the title to the house/flat.

  • Features
  • Eligibility
  • Interest Rates & Fees
  • Documents Required
  • Low Interest Rates
  • No Hidden Charges
  • No Pre Payment Penalty
  • Interest charges on Daily Reducing Balance
  • Home Loan Available as Overdraft
  • Interest Concession for Women Borrowers
  • Resident Type: Resident Indian
  • Minimum Age: 18 years
  • Maximum Age: 70 years
  • Extended Loan Tenure.
  • Loan Amount: Click Here
Click here to view the Interest Rates

*Interest rate will vary as per the risk score of the customer

** Based on LTV of the Customer


Consolidated Processing Fee structure (including Advocate Fee and Valuer Fees) will be as under:

“0.40% of the loan amount plus applicable GST subject to a minimum of Rs 10000/- and maximum of Rs 30000/- plus GST.

However, for builder tie up projects where individual TIR and Valuation Is not required: 0.40% of loan amount subject to max. recovery of Rs. 10000/- plus applicable tax.

And, if TIR and Valuation is required, then normal charge as mentioned above will be applicable.


Click here to view old Interest Rates

List of papers/ documents applicable to all applicants:

  • Employer Identity Card
  • Loan Application: Completed Loan Application form duly filled with 3 Passport size photographs
  • Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
  • Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/Piped Gas Bill or copy of Passport/ Driving License/Aadhar Card

Property Papers:

  • NOC from Society/Builder
  • Registered agreement for sale
  • Occupancy Certificate
  • Share Certificate(only for Maharastra), Maintenance Bill, Electricity Bill, property tax receipt
  • Chain of all old Agreements for sale

Account Statement:

  • Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s

Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:

  • Salary Slip or Salary Certificate of last 3 months
  • Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.

Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:

  • Business address proof
  • IT returns for last 3 years
  • Balance Sheet & Profit & loss A/c for last 3 years
  • Business Licence Details(or equivalent)
  • TDS Certificate (Form 16A, if applicable)
  • Certificate of qualification (for C.A./ Doctor and other professionals)

Documents from the other Bank:

  • List of original documents held at Bank
  • Loan a/c statement for the past one year
  • Sanction Letter
  • Interim Period Security

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