Home loans to banks or financial institutions (Home Loan) Paying Devi is a very relaxing opportunity. But a very important function on such an occasion is the No Objection Certificate (NOC) of the home loan.NIGHT) Is to get. Don’t overlook this simple-looking certificate may actually work for you in the future. Taking NOC is important in many ways. There are many benefits to this. Getting a NO Objection Certificate from a bank or financial institution on full repayment of a home loan means that you no longer have any debt left over. After taking NOC, the house becomes completely yours.
There are no claims on the bank’s property. Sometimes, even after paying the entire installment, you may owe a small amount. To avoid this, timely NOC should be taken. This is a legal document between the bank or NBFC that there is no balance between you anymore. Therefore, it is also called No Deuce Certificate. Only after taking NOC is your last loan considered closed. In such a case, if you have not taken NOC, the subsequent loan will not be considered completely closed and your credit score will be affected. In this case, you may have some difficulty in getting a loan in the future.
The NOC is usually sent to the customer’s address by registered post. So make sure your address and mobile number are correct. If you have insurance on the property, then any claim will be given to the lender, but if you have taken NOC, then this claim will be given directly to you. So if you have repaid the loan in full, then don’t forget to take NOC.