Hi, In my answer I will be sharing all the information I know about how to conduct a home loan transfer to SBI. New schemes have been launched by SBI, in my answer I will also share with you my opinion on is it good to transfer home loan to SBI. You need to know about the pros of conducting a home loan transfer to SBI as well.
Advantages of transferring home loan to SBI:- Low-interest rate:
The interest rate for home loans being given by SBI under the balance transfer scheme is 6.95%. A favorable and low-interest rate is a bonus point that you need to consider.
- Processing fee:
The processing fee for the balance transfer scheme i.e. conducting home loan transfer to SBI is 0.35% of the loan plus GST. The processing fee is low.
- No hidden charges:
There are no hidden charges that need to be paid by the customer. There are no prepayment charges or foreclosure charges.
Guide on how to conduct home loan transfer to SBI :You will need to submit an application to your current bank requesting a loan transfer. The bank will review your application for the transfer of title deeds and other securities.
Post the review process, the current bank will issue a (NOC). No Objection Certificate
You will have to clear the outstanding amount to your current bank by paying off your loan by debiting your loan account.
You will have to submit the required documents and the No Objection Certificate to SBI.
You will further have to submit a request application to SBI. Requesting the transfer of loans.
SBI will verify and validate the documents and simply sanction your home loan and pay off the remaining dues to the current bank.
I hope my answer about is it good to transfer home loan to SBI is helpful.
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is it good to transfer home loan to sbi
Hari Har
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2 Year
2021-12-14T00:15:14+00:00 2021-12-14T00:15:15+00:00Comment
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