Question: How Can I Transfer Loan From SBI To HDFC?

What is current HDFC home loan rate?

TruFixed Loan – 2 Year Fixed Rate VariantLoan SlabHome Loan Interest Rates (% p.a.)For Others* (upto 30 Lakhs)7.45 to 7.95For Women* (30.01 Lakhs to 75 Lakhs)7.55 to 8.05For Others* (30.01 Lakhs to 75 Lakhs)7.60 to 8.10For Women* (75.01 Lakhs & Above)7.65 to 8.153 more rows.

Which bank is best for home loan balance transfer?

Best Home Loan Transfer Rates Apr 2021 HDFC Ltd. 6.95% p.a. 6.90% p.a. 6.95% p.a.

How much interest will 10 lakhs earn?

Formula of Calculation of EMILoan amountInterest RateEMI per month5 Lakh8.35%Rs. 6,15910 Lakh8.50%Rs. 9,84715 Lakh8.60%Rs. 13,11220 Lakh8.70%Rs. 17,610

Can we transfer home loan from one branch to another?

Home Loan Transfer simply refers to the process of transferring your home loan from existing bank to a new bank which offers the loan at lowest interest rates. You can be eligible to transfer your home loan if you have regularly paid a minimum of 6-12 month EMI.

How can I transfer loan from SBI to Lichfl?

Migration from LICHFL to SBI MAXGAINOutstanding Balance statement from LICHFL Original.Last one-year payment statement Original.List of documents Original.Registration Papers Xerox copy was given to LICHFL and other documents supporting the previous owners of the said plot/ property.More items…•Feb 10, 2017

Which bank gives cheapest home loan?

Kotak Mahindra BankCurrently, the lowest home loan interest rate being offered is 6.65% p.a. by Kotak Mahindra Bank, followed by other top lenders such as HDFC Ltd. and ICICI Bank, Bank of Baroda, Union Bank of India, Punjab National Bank and State Bank of India.

How can I transfer my SBI loan to another branch?

Step 1: Visit the official website ‘www.onlinesbi.com’. Step 2: Select ‘Personal Banking’ and using your username and password. Step 3: A home page will be displayed on your screen, click on ‘e-services’ tab on the top panel. Step 4: After that click on ‘Transfer of savings account’ from the quick links.

Can I transfer home loan from HDFC to SBI?

SBI was offering 9.55% per annum on the balance transferred. The processing fee was also very low for that period,” said Tiwari. He did the math and transferred the outstanding balance of 21.9 lakh from HDFC to SBI, paying about 5,600 as processing fee to SBI, and about 1,200 in other charges (a total of around 6,800).

What is the EMI for 20 lakhs home loan?

EMIs on a 20 lakh home loan for 30 yearsLoan AmountInterest rateEMIRs.20 lakh10%Rs.17,551

Should we transfer home loan from LIC to SBI?

Anyway, compared to an internal transfer within LICHFL, transferring to a bank like SBI is a better option because they will give you a better offer than LICHFL’s best rate.

How do I transfer my loan from one bank to another?

The loan transfer process is simple: you just need to close your loan account first with the existing lender and then pay a transfer fee to your new bank. Your new bank will pay off the existing loan and you have to pay to the new lender in equated monthly installments at a new rate of interest.

How much loan I can get if my salary is 25000?

Here taking a salary as ₹ 25k, & without any fixed monthly obligation, you can pay a maximum of ₹ 12,500 as EMI considering 50% FOIR. If the interest rate is 10% per annum, the loan amount eligibility can be arrived at ₹ 13,73,026 using a home loan eligibility calculator (assuming 3 household members).

Is HDFC better than SBI?

Some of the key results of the comparison between the two banks are: Lowest Interest rate of SBI Personal Loan is 9.60%, which is lower than the lowest interest rate of HDFC Bank at 10.50%. Hence, SBI is offering a cheaper loan option. … HDFC Bank can be a better option if you are looking for a high value amount.

How can I transfer my home loan from SBI to HDFC?

Balance Transfer DocumentsProof of both Identity and Residence (KYC) Select Any One. … Proof of Income. Last 3 months’ Salary Slips. … Documents for a Balance Transfer Loan. A letter on the letter head of the existing lender stating the list of property documents held by them. … Other documents.

Which home loan is better SBI or HDFC?

HDFC offers lower Home Loan EMI at ₹ 645 on a Home Loan for 30 Years as compared to SBI with a minimum EMI of ₹ 662 for 30 Years. Average customer ratings for HDFC is currently at 4.5/5.0 which makes it a good choice for taking a Home Loan.

Is it worth to transfer home loan?

It is advisable to transfer a home loan when the outstanding loan amount is higher. The EMIs of the home loan are made up of principal amount and the interest amount. As the loan matures, the principal amount gradually gets paid, thus reducing the outstanding loan amount.

Can I get personal loan of 20 lakhs?

Take note of the personal loan eligibility criteria mentioned below before applying….Eligibility Criteria for Rs. 20 Lakh Personal Loan.Eligibility CriteriaRequirementsOccupationSalaried or self-employedAgeBetween 23 and 55 yearsNationalityResiding Indian citizenCIBIL score750 and above