The procedure for the transfer of your existing loan to another bank is simple. All you have to do is: Inform the existing bank vide a letter or prescribed form about the balance transfer stating the reasons. Get a NOC from the existing bank. Submit an application for a balance transfer to the new bank along with the KYC documents, NOC from the existing bank, a letter with details of the outstanding balance in the existing loan and a list of property documents. On approval, the new bank will open a home loan account and remit the proceeds to the old bank for the closure of the home loan account. Obtain confirmation from the old bank for the closure of the loan account. Pay the subsequent EMIs to the new bank.