How to Transfer your home loan to SBI, list of documents you need to submit.

How to Transfer your home loan to SBI, list of documents you need to submit.

Welcome back to our informative blog site knowing steps 360, with a new IMP News. A customer may use SBI's balance transfer service to transfer his/her home loan. However, the borrower must first meet the eligibility requirements for home loans as per the bank's instructions and The borrower must possess legitimate paperwork proving ownership of the home or apartment.

A home loan borrower from another bank or lender can transfer his/her loan balance to India's largest public sector lender State Bank of India (SBI). 

The SBI website says that it offers "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 the 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." (Also read: How to Activate SBI WhatsApp Banking System via SMS, online? Check the process here)

The borrower should have valid documents evidencing the title of the house/flat.

Home Loan Transfer to SBI: complete list of documents

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 (Anyone): PAN/ Passport/ Driver’s License/ Voter ID card.

Proof of Residence/ Address (Anyone): 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 for the 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 the 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 year

Sanction Letter.

Interim Period Security

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