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Loan closure letter format sample | Application for NOC from Bank

Learn writing a request letter for No Dues Certificate of bank loan or credit card?


If you have taken a home loan, bike, car or personal loan and have paid off your loan totally, then don't forget to take the no dues letter from the bank! You may need this for many purposes. 

Needs of a NOC are:

  1. Removing lien from property.
  2. Getting another loan.
  3. Getting insurance claims.
  4. Improving credit score.
  5. Selling your property.


No Objection Certificate from Bank: It is a loan clearance certificate (legal document) provided by the banks which states that 'the loan has been complete and their is no outstanding to be paid by the borrower as on a specific date'.

In case of credit cards, its applicable only when you surrender the credit card and close it's account fully. In case of a car loan, finance company issues an RTO form 35 with an NOC.

So if you need the NOC, better to contact your bank and request in written with 'Bank loan NOC Request Letter' for copy of 'Loan closure certificate' specifically. In this letter, you ask for all the original documents, copy of invoices with No Dues Certificate.


Few samples of request letter to bank manager for a clearance certificate of Loan:

  1. Request for obtaining No Dues Certificate after repayment of loan.
  2. Request for NOC on completion of Car loan.
  3. Request for No Objection Certificate of Home Loan.


#Sample 1. Application for NOC from bank after repayment of Personal loan:

To,

Branch manager,

Canara Bank,

Gandhinagar, Gujarat.

Subject: Reg. No Objection Certificate on completion of loan.

Sir / Madam,

I (Name), am the holder of Savings/Current Account, A/C No..... (Account Number) in your bank. I was availed a Personal loan of Rs: 2,50,000 by your bank which had a repayment period of 5 years and interest rate of 12.5 percent per year. Now I have paid the loan in full, following all the terms and conditions as directed by the bank.

Therefore, you are requested to issue a No Objection Certificate to me. Because it will be of use to me in the future. I hope you will consider my request as soon as possible and provide me with a No dues letter. 

I am attaching the following documents with this application:

  1. Passbook copy.
  2. EMI deposits receipt.

Thanking you.


Your trusted customer,

Name...

Add...

Email...

Contact no...

Date...

Application for NOC from bank for Personal loan



#Sample 2. Request for NOC on completion of a Car loan:

To,

Branch manager,

State Bank of India,

West Gandhi Maidan,

Patna,

Bihar.

Subject: Loan Closure Certificate for my Car loan.

Respected Sir / Madam,

I am the holder of Savings/Current Account, A/C No..... (Account Number) in your bank. I was granted a Vehicle loan of Rs 5,00,000 by your bank and the repayment period had 4 years and interest rate of 9 percent per annually.

The last installment for the this loan has been paid by me in time. Now the total due amount for this car loan has been paid. I am attaching the copies of Passbook and last EMI deposit receipt with this application for reference.

So, you are requested to issue a loan clearance certificate or NOC for the same. This requested documents may be sent to my registered address.

Thanking you.


Yours Sincerely,

Name...

Add...

Email...

Contact no ...

Date...

Request for NOC on completion of Car loan



#Sample 3. Request Letter for NOC on completion of a Home loan:

To,

Branch manager,

LIC Housing Finance,

Rohini, New Delhi.

Subject: Loan Clearance Certificate for my home loan.

Dear Sir / Madam,

I had obtained a loan from your organisation in order to construct/buy a home. The total amount under home loan sanctioned to me was Rs........... (Loan Amount). 

As per my personal, as well as bank records I have paid all installments in time without any failure. Now, I am in need of the NOC for said loan for ...................... (future reference and records, Property sell etc -Mention your purposes)

Therefore, I request you to please issue the No Objection Certificate for my home loan. I shall be obliged in this regard.

Thanking you.


Your customer,

Name...

Add...

Email...

Contact no...

Date...


Note: You can modify the contents of these letters as per your requirement.


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