SBI Takeover and Top up
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Dear Dimers,I have one query regarding SBI Home loan Balance Transfer(Takeover) and Top up loan.
Actually we have an outstanding in one NBFC,Because of high interest rates I want to transfer It to SBI and also we want some extra loan for our personal needs.
Generally as far as I know every bank is offering topup loan along with Balance transfer.But here in SBI they are saying that they will issue topup loan after the takeover gets completed through a new top up application as an existing customer.It takes lot of time but we are in need of money.
In simple they first take the application for outstanding in other bank, after that they will settle them and mortagage on property by SBI.They they will take our application for Topup as an existing customer because they have to enter existing home loan account number for issuing top up loan.Is this correct or they just manipulating me?
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They are correct, I was an LSO ( Loan sanctioning officer)in Bandhan Bank.
Top up loans are provided only to ETB (Existing To Bank) users.
You are NTB ( New To Bank) for SBI now. You can only request them to complete the procedure as quickly as they can. That's the only way they can help you.