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SBI Home Loan Transfer

SBI Home Loan Transfer

SBI Home Loan Transfer

Stuck with a home loan with a high interest rate? No need to worry, opt for an SBI Home loan transfer and reduce your EMI considerably. If you have a home loan from any private bank, scheduled bank, commercial bank, or housing finance bank which is registered with National Housing bank, you can opt for an SBI Home loan Balance transfer.

For SBI Home Loan Transfer, you can visit the nearest SBI branch or opt for online SBI mode. The State Bank Of India has facilitated a large number of home loan borrowers to transfer their home loans with SBI without any processing fee.

 SBI Home loan transfer is the best option for those who couldn’t do their due diligence before availing of the loan and now paying a high interest rate. Later they understand the better loan offers, in such situations, a home loan balance transfer is the best option.


  • Lowest interest rate and easy payment in installments 
  • The best way to reduce your EMI
  • No prepayment penalty
  • No hidden charges, total transparency in operations
  • Loan available as overdraft
  • Interest calculation on daily reducing balance on daily basis
  • Concessions for women on interest rate
  • The processing fee is 0.4% of the total loan amount
  • Repayment tenure up to 30 years


  • Required all the valid documents evidencing the ongoing loan
  • Property details with evidence/proof
  • The customer must be an Indian citizen or NRI
  • Minimum age 18 years and maximum age 70 years

Documents Required for SBI Home Loan Transfer

  • Employer Identity Card
  • Properly filled application form
  • Three passport size photograph
  • Copy of Identity proof (Voter ID card/Passport/Driving license/PAN/ Adhar card)
  • Copy of Address proof (Telephone Bills/Electricity bills/Voter ID card/Passport/Adhar card)
  • Proof of business address for self-employed
  • Bank account statement for last six months
  • Signature verification by the present banker
  • Personal asset and liability statement
  • Original salary certificate from the employer(Only for salaried persons)
  • TDS Certificate/Form 16/copy of Income Tax returns for last two financial years/duly acknowledged by Income Tax department (Only for salaried persons)
  • Acknowledged copies of three years Income Tax returns/assessment orders (For self-employed)
  • Photocopies of challans evidencing payment of advance (for self-employed)

Home loan EMI in Pandemic

With the unanticipated threat posed by the second wave of COVID-19, we all are facing adverse colossal impacts in our life. 

To control the spread of COVID-19, the government was compelled to declare a lockdown leading to the loss of many jobs. 

People, who are servicing the home loan have additional worries of paying EMI along with protecting themselves from COVID-19.

People are under utter pressure owing to economic calamity along with pandemics. The government and many organizations are providing several offers to the borrowers to manage their finances and equated monthly installments. We can manage EMI by opting for the best options as per our requirements.

SBI Home Loan Transfer

How to escape from being a Home loan defaulter?

If income sources adversely disrupted due to pandemic 

Opt for EMI Moratorium

It is better to opt loan moratorium if you are not able to pay your home loan EMI. Moratorium can’t be considered as an EMI holiday because you have to pay your EMI amount with interest later. 

It only provides you the relaxation from being categorized as a defaulter, and it will not make any impact on your credit score. 

It is at the discretion of your lender to decide the rate of interest to be charged on the deferred payment.

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