Still paying more on your current home loan? Move to SBI Home Loan Balance Transfer and watch your EMI reduce with every month you stay. Quick paperwork, transparent fees, and an interest rate that rewards smart choices—everything you need to start saving right below.
SBI Home Loan Balance Transfer Highlights
| Category | Highlights |
|---|---|
| Interest Rates | 8.00% p.a. onwards |
| Tenure | Remaining Loan Tenure |
| Loan Amount | 75% – 90% of the property value |
| Processing Fees | 0.35% of the loan amount + GST, (₹2,000 – ₹10,000) |
Suggested Read: SBI Home Loan Insurance
SBI Home Loan Balance Transfer Interest Rates
| Products | Interest Rates |
|---|---|
| Home Loan Balance Transfer | 8.00% p.a. onwards |
| Home Loan Top Up | 8.30% p.a. onwards |
Suggested Read: SBI Home Loan CIBIL Score Requirement
SBI Home Loan Balance Transfer Eligibility Criteria
| Category | Requirements |
|---|---|
| Resident Type | Indian |
| Age | 18 – 70 Years |
Suggested Read: SBI Home Loan Interest Rate Reduction 2025
SBI Home Loan Balance Transfer Fees and Charges
| Fee/Charge | Amount |
|---|---|
| Legal Opinion & Search Report | Actual expenses |
| Valuation Fee | Actual expenses |
| Stamp Duty | Percentage of project cost |
| Registration Charges | Percentage of project cost |
| CERSAI Registration | ₹100 + GST |
| Rate‑Switch Fee (to current EBLR rate) | ₹5,000 + GST |
| Safe Custody Charges | ₹1,000 + GST per quarter (or part thereof) |
| Conversion Fee (to EBLR from MCLR/Base/SBAR) | ₹1,000 + GST per account |
| EMI Non‑Payment Penalty | ₹250 + GST per missed EMI |
| Cheque Bounce Fee | ₹500 + GST per instrument |
| SI/NACH Failure Fee | ₹250 + GST per failed SI/NACH |
Suggested Read: SBI Home Loan Customer Care
SBI Home Loan Balance Transfer Documents Required
Transferring your existing home loan to SBI can help you take advantage of better interest rates and favorable terms. To facilitate a smooth balance transfer process, you need to provide specific documents that verify your current loan details and financial standing.
| Home Loan Balance Transfer Documents |
|---|
| List of original documents held at Bank |
| Loan a/c statement for the past one year |
| Sanction Letter |
| Interim Period Security |
Suggested Read: SBI Home Loan Statement
Home Loan Balance Transfer Case Study
This case study evaluates the financial impact of transferring a home loan balance from Axis Bank to SBI after 2 years of repayment. The analysis focuses on interest savings, revised EMIs, and total repayment amounts under the new loan terms.
Current Loan Details at Axis Bank
| Parameter | Value |
|---|---|
| Loan Amount | ₹60,00,000 |
| Interest Rate | 9.70% p.a. |
| Tenure | 30 years |
| EMI | ₹51,549/month |
| Total Interest Payable | ₹1,25,57,734 |
| Total Amount Payable | ₹1,85,57,734 |
Loan Status After 2 Years
| Parameters | Details |
|---|---|
| No. of EMIs Paid | 24 |
| Total Amount Paid | ₹12,37,176 |
| Principal Repaid | ₹54,000 (approx) |
| Interest Paid | ₹11,83,176 |
| Remaining Principal | ₹59,26,200 |
Balance Transfer to SBI
| Parameters | Details |
|---|---|
| Transferred Balance | ₹59,26,200 |
| New Interest Rate | 8.40% p.a. |
| Remaining Tenure | 28 years |
| New EMI | ₹45,550/month |
| Total Interest Payable | ₹95,78,600 |
| Total Amount Payable | ₹1,53,04,800 |
Financial Impact Analysis
| Metric | Axis Bank (Current) | Balance Transfer (BoB) | Savings |
|---|---|---|---|
| Total Payment | ₹1,85,57,734 | ₹1,65,41,976 | ₹20,15,758 |
| Monthly EMI | ₹51,549 | ₹45,550 | ₹6,000/month |
| Total Interest Paid | ₹1,25,57,734 | ₹1,05,41,976 | ₹20,15,758 |
Key Findings :
- Monthly Savings : ₹6,000 reduction in EMI.
- Total Savings : ₹20.16 lakhs over the loan tenure.
- Effective Interest Rate Reduction : From 9.70% to 8.40%, lowering the cost of borrowing.
Check Out: SBI Home Loan Prepayment Calculator
Home Loan Balance Transfer Interest Rates by Top Banks
| Bank | Transfer Rate |
|---|---|
| SBI | 8.50% p.a. onwards |
| HDFC Ltd | 8.75% p.a. onwards |
| LIC Housing Finance Ltd | 9.10% p.a. onwards |
| Axis Bank | Contact the bank |
| Bank of Baroda | 8.85% p.a. onwards |
| Canara Bank | 8.80% p.a. onwards |
| Union Bank of India | 9.00% p.a. onwards |
| IDFC First Bank | 8.85% p.a. onwards |
| Federal Bank | 8.80% p.a. onwards |
| Karur Vysya Bank | 9.00% p.a. onwards |
| Tamilnad Mercantile Bank | 9.45% p.a. onwards |
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Frequently Asked Questions
You can transfer your home loan to SBI to take advantage of lower interest rates, reduced EMIs, or better loan terms, potentially saving money over the loan tenure.
The documents typically required include identity proof, address proof, income proof, property documents, and the latest outstanding loan statement from the current lender.
Interest rates start from 8.00% p.a. and can go up to 9.40% p.a., depending on factors like loan amount, tenure, and borrower category (salaried or self-employed) .
Yes, SBI offers a top-up loan facility along with the balance transfer, subject to the maximum Loan-to-Value (LTV) ratio of 75% .
SBI charges interest on a daily reducing balance method, which means interest is calculated on the outstanding loan balance after each EMI payment, potentially reducing the overall interest burden .
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