What should I do with a car loan with NOC?

NOC certifies that you have repaid the loan fully and no dues are outstanding against the associated loan account. Generally, the lender sends the NOC to the borrower, and ideally a letter to both the RTO (Regional transport Office) and car insurance company, stating that the associated loan has been fully paid off.

How can I close my SBI car loan online?

To close a loan account:

1. Click Requests > Closure of Loan A/C. A Closure of Loan A/C page appears.
2. Select the loan account you wish to close.
3. Select the transaction account which will be debited to close the loan. Figure 1 shows sample settings.
4. Click [Submit].

How long does it take to get NOC from SBI?

If there are no outstanding dues or DSA cases pending against the vehicle, a receipt of clearance is obtained and No Objection Certificate is issued. The RTO will take three business days to issue the NOC Certificate.

How do I cancel a car NOC?

Share

1. A letter requesting Non-utilization certificate.
2. Original RC book.
3. Valid Insurance copy.
4. PUC certificate copy.
5. Affidavit stating that you have not registered vehicle in new state and no illegal work done using that vehicle.
6. Police verification certificate from the police commissioner office, Chennai.

What is the process after car loan closure?

Below, we have discussed the steps for car’s hypothecation removal after loan closure from the RC at the RTO, in detail:

1. Step 1: Receive Documents from the Lender/Bank.
2. Step 2: Documents to be taken to the RTO.
3. Step 3: Submit the Hypothecation Removal Application.
4. Step 4: Process to Receive the RC Smart Card.

Can I get SBI car loan NOC online?

Is it Possible to Avail NOC for Car Online? Technically, No. However, you can apply for one online. After application, you have to visit your nearest RTO and receive the NOC from that authority.

Is it good to foreclose car loan?

Foreclosing a car loan at a later stage of the loan tenure is not beneficial because the penalty fees may be higher than the interest payment for the left over EMIs.

How do I cancel my car NOC online?

Documents required for the same are listed below.

1. A letter requesting Non-utilization certificate.
2. Original RC book.
3. Valid Insurance copy.
4. PUC certificate copy.
5. Affidavit stating that you have not registered vehicle in new state and no illegal work done using that vehicle.