In today's day and age, almost every car manufacturer goes for bank finance when purchasing a new car. This is largely due to the fact that going for this option helps a buyer keep his liquidity status intact by repaying through easy EMIs. The low-interest rates have also contributed towards the popularity of car loans. However, while it's easy to get a car loan, most customers don't know how to close a car loan or what a car loan NOC is. Hence, in this post, we tell you about the car loan closure process and even how to get car loan NOC from HDFC bank.
How to get Bank Loan Foreclosure Certificate (LFC) & Loan Closure Certificate (LC) Offline?
If you wish to repay the car loan before its tenure, you will need to obtain the LFC from the bank. However, in case the loan amount has already been paid, you will need to LC from the bank as proof of loan closure. Here is how to get bank loan foreclosure certificate (LFC) and Loan Closure Certificate (LC) offline-
1. Visit any HDFC branch that deals with auto loans in any city of the country along with the necessary documents. You can find a branch near you by visiting-https://v1.hdfcbank.com/branch-atm-locator
2. Fill the 'Request Form' for LFC or LC
3. Submit the following documents to the bank representative in the auto loan department-
- PAN Card
- Aadhaar Card or Voter Card or Other address proof
- RC copy
4. Please note - In case the loan closure process is initiated by a third party, an authorisation letter & a self-attested copy of third party's ID proof will be required by the bank.
5. Take details like “ Beneficiary account no.” & “IFSC Code” in case you wish to close the loan through NEFT
6. In case you wish to close the loan through DD, only “Loan Agreement Number” is required"
Please keep in mind that LFC Amount is based on the assumption that loan will be closed on the same day. In case of any delay of sorts post LFC extraction, the customer will need to pay the applicable interest at the time of closing the loan.
How to close Auto Loan?
1. Visit any auto loan branch of HDFC in any city with required documents. You can find out a branch near you here - https://v1.hdfcbank.com/branch-atm-locator
2. Fill “Request Form” for auto loan closure
3. Submit the following documents to the bank representative in original and one self-attested copy-
- PAN Card
- Aadhaar Card or Voter Card or other address proof
- RC copy
- LFC
4. Please note - In case the loan closure process is initiated by a third party, an authorisation letter & a self-attested copy of third party's ID proof will be required by the bank.
5. Post verification of documents, the bank will confirm the pending loan foreclosure amount and ask you about the mode of loan payment
- In case of DD or cheque or Cash- You need to hand over the DD/Cheque/Cash along with a self-attested copy of your PAN Card, RC and Aadhaar or Voted ID or other address proof.
- In case of NEFT/RTGS/IMPS, the bank will share the account details (Beneficiary account no. & IFSC code) and you will need to pay the foreclosure amount to the mentioned account. After the payment, you will need to share the UTR no. with Bank representative. In both the case, the bank will share a Payment Acknowledgement receipt.
- In case of online payment, you need to ask for account details of the bank for NEFT/RTG/IMPS payment and obtain the bank account' number and IFSC code. After payment of the loan amount, provide the UTR no. to the bank official for verification.
How to get Original NOC?
1. Once the loan has been closed, the NOC is dispatched by the Bank to your registered address
2. In case the original NOC is not received by you within 30 days of loan closure, you will need to ask about the same from the customer care of HDFC (Prefix 3-digit STD Code on 61606161) or mail to loansupport@hdfcbank.com
How to Get Duplicate NOC Offline?
Visit any car loan branch of HDFC in any city with the required documents- PAN Card, Aadhaar or Voter Card, RC Copy and authorization letter (in case of the third party).
Fill 'Request Form' for duplicate NOC
Submit the necessary documents in the original and self-attested copy.
After verification of documents and loan closure status, pay a fee for a duplicate copy. of NOC (INR 500 + taxes)
Obtain duplicate NOC from the bank
How to get Duplicate NOC Online?
1. Login To HDFC Bank Netbanking
2. Open the Loans Tab on the top right side of the screen
3. Select Request Option on Left side of the screen
4. Click On NOC / Closure Letter on Left side of the screen
5. Select Loan Account Number and Click on View
6. Verify the address by selecting Yes and Click Continue
7. On the next page, make a payment of Rs 500 + taxes
8. Duplicate NOC will be sent to the registered address
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