To transfer a home loan to another person, the existing borrower must notify the bank of the transfer request and submit all necessary documents, including a letter of consent from the new borrower, KYC documents for the new borrower, and property documents. The bank will assess the new borrower eligibility and, if necessary, charge a processing fee. The old borrower will be released from any obligation to the loan once the new borrower eligibility is confirmed and the loan is transferred. It is important to note that transferring a home loan may have tax and legal implications, so it is best to seek professional advice before proceeding.
