How to close SBI home loan online and collect documents without visiting branch?

I presume you might have geographical or time constraints to collect documents from bank. In such situations, You can give Power of Attorney to a trusted source to collect documents from Bank.

Below is the step-by-step procedure to collect documents through Power of Attorney:

Step 1: Once the full and final settlement of home loan is paid, write an email to branch where the loan was sanctioned. In email, mention your loan account number and your intent to collect back title documents through power of attorney. the bank will provide power of attorney template and appointment to collect the documents.

Bank will specify the date, time, and location to collect the documents in email. We usually get an appointment within 15 working days from today

Step 2: Prepare the General Power of Attorney (GPA) draft in word file. The draft looks like below

If you are living in abroad, follow below procedure to make GPA:

• Print the GPA draft on A4 size paper
• Affix your passport size photo
• Meet notary public near you in your country
• Applicant sign the GPA on all pages + Two witnesses sign at last page + notary seal & attest the GPA
• Courier the notary-attested GPA and self-attested passport copy to GPA holder in India.
• GPA holder affix passport-size photo + sign the GPA at last page
• GPA holder adjudicates the GPA in District registrar's office. Adjudication should be done in the jurisdiction where the property is located in India.

If you are living In India, follow below procedure to make GPA:

• Print the GPA draft on document paper
• Register the GPA in nearest sub-registrar office where you live now
• Courier or hand over the registered GPA and self-attested aadhaar to your GPA holder

Step 3: On the day of appointment given by bank, the GPA holder carries the following documents to bank

• General Power of Attorney (GPA)
• Applicant’s self-atested ID Proof (Passport or Aadhar copy)
• GPA holder self-attested aadhar

Step 4: Bank verified the documents listed in step 3 and takes the photocopy of same

Bank hand over the following documents to GPA holder

• No objection certificate (NOC) on Bank’s letterhead
• Discharge / Reconveyance / Release deed
• Title documents that include your registered sale deed (Bank will return all the documents that were collected from you at the time of MODT registration)

Step 5: The GPA holder carries the following documents to same sub-registrar office where the MODT was registered with bank earlier

• General Power of Attorney (GPA)
• No objection certificate issued by bank
• Discharge / Reconveyance / Release deed issued by bank
• GPA Holder’s aadhaar
• Stamp duty payment (K2 challan subject to Karnataka)

Step 6: The Reconvenance Deed registration is the process of removing the mortgage lien registered in sub-sregistrar office.

In the below example, the property is jointly owned by husband and wife. Wife gave GPA to her husband to collect documents from Bank and register reconveyance deed in sub-registrar office. Refer to below images

After the Reconvenance Deed registration, Check the Encumbrance certificate (EC) to ascertain the removal of mortgage lien registered in sub-registrar office.

For Example:

On 20th Nov 2010, we registered MODT with SBI, the bank details reflect in Column 6 of below EC, encircled in below image for your reference

On 21st Sep 2022, we registered the Reconveyance Deed, the owner details reflect in Column 6 of below EC, encircled in below image for your reference

Coloum 6 was replaced from bank name to owner’s name in EC. It means that mortgage lien is removed in sub-registrar office

The sub-registrar will hand over the latest EC as soon as reconveyance deed is registered for your cross verification.

NOTE:

• When you collect the Reconveyance deed from bank, it's important to check following info in deed
• Applicant name

1. GPA Holder Name
2. Loan Account Number or MODT Number or Both
3. Property Schedule
4. Bank’s authorized seal & sign

• We should register the Reconveyance within 90 days from the day of we collect documents from bank or we can approach bank again to rewrite current date, bank’s seals & signs beside the corrections
• Bank’s representative presence is not required to register the reconveyance deed

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In Bangalore, we provide end-to-end assistance to execute General Power of Attorney + collect documents from bank + Register Reconveyance deed + Documents home delivered.

To opt for our service, please whatsapp to + 9 1 - 9 7 4 2 4 7 9 0 2 0.

Thank you for reading…