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After settling your housing loan, you need to: Collect all original documents from the lender. ... Obtain a 'No Dues' Certificate (NDC) from the lender. ... Ensure removal of lien on the property. ... Obtain the updated Non Encumbrance Certificate. ... Ensure that your credit records are updated. ... Upshot.
A foreclosure is simply the closing of a Home Loan by paying off the entire amount borrowed in one lump sum amount. It is part of the regular Home Loan process and allows you to pay off the borrowed amount before the EMI schedule. You can opt for a foreclosure even after having made a few EMI payments.
Personal Loan Closure Letter Format Dear Sir/Ma'am, I am Sudharshana Karthik, and I have a personal loan in my account in your bank. I am writing this letter to request you to close my personal loan account with the number 1526xx4656. I have paid all my EMIs, and the loan tenure is complete.
Follow these simple steps to foreclose your home loan Inform the lender. Lenders have hundreds of loans running simultaneously. ... Get all the paperwork in order. ... Assessment of payments. ... Get a NOC. ... Remove Lien on the property. ... Retrieve security cheques. ... Get a New Encumbrance Certificate (EC) ... Retrieve the documents.
Dear sir/madam, I am Vaishnavi Sarda and I am writing this letter to you to foreclose my home loan this month. I have a home loan for my account 123456775543. I want to clear the outstanding payment in one go and need to close my account this month.