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buying a property
I had home loan of 160000 of PNB. I transfered it to Sbi and get Total amount 27 lac.. Can I buy a residential land of excessive 11 lac??
Replies (8)
Yes, subject to any condition/s implemented by SBI under the loan agreement.
Thank u sir but in loan agreement, it is clearly mentioned that the amount of the loan shall be utilized strictly for the purpose detailed in application.
Yes, if it was applied only for modification of the existing property......... you cannot utilize it anywhere else!!
Its not for modification sir. Its only take over from PNB to Sbi.
Its home loan only. Not for modification
Check again the conditions of the loan agreement, because while transferring the loan, additional amount has been sanctioned.
If no specific reason specified, you can transfer the additional amount to your saving bank.......
OK thnx sir
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