5 Replies to “Can I transferred my loan account from ICICI bank to State Bank of India ? How much amount be paid for this ?”

  1. Here is a likely scenario:
    You will take another loan from SBI to repay ICICI, so you will have to pay initial fees.
    You will have to pay pre-payment penalty on balance loan to ICICI.

  2. icici will charge 2% as a precloser charges, which is 2% on principal outstanding.

    First few years you would have paid only interest to ICICI and now if you do a balance transfer of your laon , you are gonna pay only interest to SBI first few years.

    so think about it

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  4. There is nothing like transfer of loan. You need to start a new one with SBI and close your loan with ICICI. So SBI will give you a cheque which u can deposit with ICICI to close a loan.

    ICICI will charge you foreclosure charges between 2 to 10 %. Normally they charge 2 %

    SBI will charge you 0.5 to 2 % as processing fees.

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