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What is a NOC Letter?
Features of the NOC Letter
Why Do You Need NOC Certificate?
How to Get NOC from Bajaj Housing Finance?
How to Initiate Bajaj Housing Finance No Dues Certificate Download
You may think your work is done after completing your home loan repayment process, especially when your EMIs have been stretched for some years. However, you should know that your home loan, even after the completion of repayment, will be considered active if you fail to collect your home loan NOC.
A home loan comprises three segments. After which your loan will be granted to you and you can proceed to enjoy the funds to address your home buying requirements. The second and most important part is the home loan repayment process. The last and the oft ignored part of a home loan is the loan closure formalities. It is here that a NOC letter is brought to the fore. It forms part of what you do to formally close a loan, so you must have custody of this letter if you don’t already. If you don’t have this document in place, it is very likely that you will be charged with extra dues, despite having cleared your loan in time.
At Bajaj Housing Finance, our goal is to be recognised as a customer-friendly company. Therefore, our clients are assured that their Bajaj Housing Finance NOC will be issued on time. Remember, the NOC letter states that you are free of the current home loan, so it's pertinent to get yours today. Read on to understand what a NOC letter is and why you should take advantage of Bajaj Housing Finance NOC online download.
A NOC (No Objection Certificate) letter is a legal document that serves as evidence of the customer having no more dues to be paid. It is issued by a bank or nonfinancial banking company and marks the close of the loan repayment period. It is also known as a ‘No Dues Certificate’.
A customer can take possession of a NOC letter only when the loan, EMIs, extra charges, and late-payment penalties included, have been paid off entirely. Another noteworthy fact about the NOC letters is that upon collection, the rights to the collateral used for the loan application process revert to the customer.
Upon repayment of the home loan, the NOC Letter pronounces you as the legal owner of the property. It certifies that you owe your lender nothing. It contains the loan account number and the loan closure date. With this document, you have total ownership of your property and can do with it whatever you please, even if it comes to the property sale.
The next section will show you the importance of a Bajaj Housing Finance NOC no dues certificate download.
In case you are wondering why you need a Bajaj Housing Finance NOC download, here are your reasons:
There are a few steps that you must follow before you can get your home loan NOC from Bajaj Housing Finance. Here they are:
To initiate a Bajaj Housing Finance NOC download, we recommend that you must have paid off all outstanding dues, EMIs included. Once this has been fulfilled, then you qualify for a Bajaj Housing Finance NOC certificate download.
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Now that you know how to get NOC from Bajaj Housing Finance, you should have no problem performing the final formalities of your home loan closure. Remember: your home loan remains active, even after repayment, and this changes only with the Bajaj Housing Finance no dues certificate download.
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