My car loan got over in August 2008. Will the bank send me a letter stating that I have repaid the loan?
Once you have paid the last instalment of the car loan, your loan account is closed by the bank. The bank then sends a No-objection Certificate (NOC) stating that you have duly paid the loan and there is no amount outstanding against your name. Along with the NOC, the bank will send you a letter for the regional transport office and the insurance company stating that you have paid the loan. You will have to take this letter to the offices concerned with the relevant original papers so that name of the bank is removed from the vehicle registration paper. If you have not received the letter from your bank, call them up and ask for the letter. Also the letter may not have reached you if you have changed your correspondence address during the loan tenure and did not inform the bank
