Whenever you want to close your home loan in the State Bank of India, then you need to write a loan closure request letter to the bank. Here you can find some sample loan closure letter formats which you can download in Word format.
After closing your loan in SBI make sure that you received all your documents which you have submitted while applying for the loan, and NOC(No Objection Certificate), Non-Encumbrance certificate, if there is any lien on your house then remove that lien at your registrar office.
SBI Home Loan Closure Letter Format (When All EMIs are Paid)
To
The Manager,
State Bank of India,
Bank Address.
Sub: Request to close my home loan.
Dear Sir/Madam,
I,__________(your name) have taken a home loan from your bank bearing loan account number ___________(Your loan account number). I have cleared all my home loan EMI dues as of this month i.e __________(mention last paid EMI month, year).
Hence here I would like to request you to kindly close my home loan and please guide me about the further process if any.
Thanking you.
Yours Sincerely,
Your name.
SBI Home Loan Closure Letter Format (For Pre closing / The Home Loan).
To
The Bank Manager,
State Bank of India,
Bank Address.
Sub: Home loan pre closing request.
Dear Sir/Madam,
My name is __________(your name) writing this request letter to pre close my home loan associated with loan account no. _____________(your home loan account number).
I would like to clear my total outstanding loan amount in one payment, so kindly guide me the process of pre closing my home loan
Thanking you.
Yours sincerely,
Your name.
After Closing the Home Loan Online
To
The Bank Manager,
State Bank of India,
Bank Address.
Sub: Home loan closing request.
Dear Sir/Madam,
With due respect I am___________(your name), writing this request letter to close my home loan bearing account no. ______________(loan a/c number).
I have cleared my outstanding loan due online, and please find the enclosed loan payment receipt enclosed with this letter.
Here I am requesting you to kindly close my home loan and issue all the necessary documents.
Thanking you.
Sincerely,
Your name.
FAQs
What is the interest rate on SBI home loans?
SBI is offering home loans with an interest of 6.70% for a loan amount upto 30 Lakhs, and 6.95% for loan amounts of 30 Lakhs to 75 Lakhs, and 7.05% for above 75 Lakhs loan amount.
How many days will it take the bank to return my documents after closing the home loan?
In most cases it will take a maximum 7 days to return your documents and NOC after clearing the home loan.
Can I close my SBI home loan before the tenure?
Yes , you can close your SBI home loan even before the tenure.
Are there any pre-closure charges if I close my SBI home loan ?
No pre-closure charges will be levied if you close your SBI home before the tenure.
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