Under certain conditions, SBI allows you to convert a personal loan into a home loan. The borrower must approach the bank and express his or her desire to convert the personal loan to a home loan. The bank will assess the borrower eligibility for a home loan and verify all required documents. Before the personal loan can be converted, the borrower must pay any outstanding balances. Once the loan has been converted, the borrower will be able to take advantage of the lower interest rates and longer repayment terms that come with home loans.
