August 23, 2013 9:51 pm
I have paid all the dues and closed car loan (SBI) account. Now what further procedure (precautions) should be taken in order to cancel hypothication on Regsitration Certifiate of Car?
Dear Amar, after the loan closure, the bank or Financial Institution ‘ll issue you No due certificate & the Hypothecation cancellation form duly signed & stamped by Bank/FI officials. You need to contact the RTO where the Car was registered & apply for cancellation of hypothecation.
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