I have closed my total amount of Bajaj loan
1 year ago
Hi , i have closed my total amount of bajaj loan on 27th feb 2020. as per the closure letter . but now they are telling me to pay 3 lakh for bounce charges , fines and outstanding emi .but i havent got the closure letter till now . as i paid during the corona time .
A.Dear client,
If you are in a stage when you have paid off your last EMI and all the outstanding payments have been made, then you need to write a letter to the bank stating the facts and asking for the return of the original documents that you submitted to the bank at the time of taking the loan.
After paying the loan in full, you should contact your lender to check if all the outstanding amount is cleared. Sometimes, you might have some penalty on the payment you made late once or some other outstanding charge on missed EMIs. If there is an outstanding amount, clear that first. After this, you should complete the personal loan closure formalities.
Generally, after the entire loan amount is paid off, the lender sends the closure certificate either via post or email. But it would be better for you to go there by yourself. While going there, you must carry your ID Proof, Loan Account Number, and a cheque (in case any amount is pending as informed by your lender). The lender will authenticate all your details and loan account number to verify there is no pending amount from your side. Once the loan closure formalities are completed, you should get the No-Objection Certificate (NOC) from your respective lender. This is the legal document stating the closure of your loan. It will mention that you have paid all your dues and the entire loan amount is repaid.
After getting the NOC from the lender, you should check in your credit report that your loan closure is updated in it.
Thank you.
If you are in a stage when you have paid off your last EMI and all the outstanding payments have been made, then you need to write a letter to the bank stating the facts and asking for the return of the original documents that you submitted to the bank at the time of taking the loan.
After paying the loan in full, you should contact your lender to check if all the outstanding amount is cleared. Sometimes, you might have some penalty on the payment you made late once or some other outstanding charge on missed EMIs. If there is an outstanding amount, clear that first. After this, you should complete the personal loan closure formalities.
Generally, after the entire loan amount is paid off, the lender sends the closure certificate either via post or email. But it would be better for you to go there by yourself. While going there, you must carry your ID Proof, Loan Account Number, and a cheque (in case any amount is pending as informed by your lender). The lender will authenticate all your details and loan account number to verify there is no pending amount from your side. Once the loan closure formalities are completed, you should get the No-Objection Certificate (NOC) from your respective lender. This is the legal document stating the closure of your loan. It will mention that you have paid all your dues and the entire loan amount is repaid.
After getting the NOC from the lender, you should check in your credit report that your loan closure is updated in it.
Thank you.
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