Preclosure of car loan

POSTED BY amar ante ON August 23, 2013 9:51 pm COMMENTS (2)

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? 

2 replies on this article “Preclosure of car loan”

  1. 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.

    Thanks

    Ashal

    1. amar ante says:

      Thanks Ashal

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