Originally I had my home loan with LICHFL. I wanted to go with SBI (preferably MaxGain), but while taking a fresh loan SBI asked for a lot of documentation, multiple trips to the SBI branch whereas LICHFL had a tie up with my builder and I wasn’t even required to leave my house even once during the whole process, an agent used to come to my home for all the signatures and any documentation required from us. So I went with LICHFL at that point of time thinking I can transfer it at a later date as that would be a much easier process.

Few pain points with LICHFL

  • No online facility to do prepayment
  • Monthly reducing average
  • Prepayment would require a visit to the branch and would require proof of funds

I wanted to transfer my home loan from LICHFL to SBI