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SBI Home Loan Transfer

The SBI home loan transfer scheme is a means to extend the customer base across India by the SBI. The State bank of India is country's highly acclaimed bank which is evident from the fact that every now and then it comes up with some or the other program with a view to make its banking operations more customer friendly and to give a cut throat competition to its rival banks. The bank has come up with its new home loan transfer scheme which facilitates the customers who have taken home loan from other banks to transfer their home loan to SBI. Usually home loan takers wish to change their home loan provider due to some reason, for say, it might be because a customer might be seeking a better interest rate or might be wondering of a change in his home loan EMI or may be due to unsatisfactory services provided by the bank.

India's most reputed nationalized bank State Bank Of India along with its SBI new happy home loan scheme is offering a lucrative option to the existing home loan borrowers wishing to transfer their home loan to SBI through which the loan borrowers end up saving a lot. This scheme is attracting the customer's attention as one can transfer his home loan to any other bank. The bank under this scheme assesses the value of the property and estimates the latest market value on the basis of which the bank offers the home loan. This amount is partly paid to the company for taking over the control and the remainder can be paid to the loan applicant.
The applicant must be clear about certain things and must be aware of the fact that while transferring loan from another bank to the SBI the customer will have to pay a pre-payment penalty to the bank from which he has acquired the home loan and SBI also charges a loan processing fee and the concerned customer ends up paying two types of amount in order to transfer the home loan balance.

For additional information on SBI Home loan transfer log on to the bank's website: www.statebankofindia.com


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