SBI home loan transfer: Full list of documents needed to complete process on onlinesbi.com

Online SBI home loan transfer documents: The State Bank of India (SBI), India's largest commercial bank in regards to their loans is allowing home-buyers who have taken loan from other banks, to transfer their loans with them at no processing fees. SBI offers balance transfer of home loan via online SBI mode 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). The borrower should satisfy the eligibility criteria for online SBI home loan transfer. The person availing home loan should be eligible as per the bank's instruction and serviced interest and/or installment of the existing loan regularly, as per the original terms of sanction. 

Also, the borrower should have valid documents evidencing the title to the house/flat. The full details like eligibility, process and list of documents are available on https://www.onlinesbi.com/. Here is the list of papers/ documents applicable to all applicants for home loan transfer:

1. Employer identity card

2. Loan application: Completed loan application form duly filled with 3 passport size photographs

3. Proof of identity (Any one): PAN/ passport/ driver’s license/ voter id card

4. Proof of residence/ address (any one): Recent copy of telephone bill/ electricity bill/water bill/piped gas bill or copy of passport/ driving  

5. License/aadhaar Card

Property papers required for the process:

1. NOC from society/builder

2. Registered agreement for sale

3. Occupancy certificate

4. Share certificate(only for Maharastra), maintenance bill, electricity bill, property tax receipt

5. Chain of all old agreements for sale

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Account statement required:

1. Last 6 months bank account statements for all bank accounts held by the applicant/s

Income proof for salaried applicant/ co-applicant/ guarantor:

1. Salary slip or salary certificate of last 3 months

2. 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:

1. Business address proof

2. IT returns for last 3 years

3. Balance sheet & profit & loss a/c for last 3 years

4. Business licence details(or equivalent)

5. TDS certificate (Form 16A, if applicable)

6. Certificate of qualification (for C.A./ Doctor and other professionals)

No. of documents required from other bank:

1. List of original documents held at bank

2. Loan a/c statement for the past one year

3. Sanction letter

4. Interim period security

All the resident Indians between the age of 18 years and 70 years are eligible for the home loan balance transfer to State Bank of India provided the loan tenure should be extended. Under this facility of the home loan balance transfer to SBI, the bank is offering low interest rates, no prepayment penalty, interest concession for women borrowers, home loan available as overdraft and the interest rates will be charged on daily reducing balance.