Documents in bank
pratyu
(Querist) 01 February 2016
This query is : Resolved
sir please kindly inform me about the list of documents and papers etc to be given by bank to me after repaying the home loan 5 years prior to the time period i had applied for.
i would like to know the accurate details of documents to be received and procedure for repayment of bank loan as i was informed by some neighbours that they dint receive documents as the bank had misplaced them and had to reapply in register office again,
some told us the date of repayment should be exactly on date or else they will charge interest for the whole period.so please kindly eloborately clarify me about the procebure for loan repayment.
rajagopal.s
(Expert) 01 February 2016
Hi
I assume you want to pre-close the loan. The bank should give you a pre-closure letter which talks about the amount you need to pay to preclose the loan. this included principal due, interest due and pre-closure charges. once you have paid the monies to the bank within the stipulated period, then you need to submit the copy of the payment made to the bank and ask for a loan closure certificate.
the bank will then provide a loan closure certificate which will outline the principal , interest paid by you as of date and also will state nil dues from you.
Once you have this loan closure certificate, then the bank should do the following:
a) Handover to you all of the originals title deeds, link deeds etc.
b) The bank official should come to sub-registrar office and sign the release deed at Sub-Registrar office where the property is situated.
c) For your safety, once clause b is completed, take a EC Copy from the sub-registrar office and keep it with you.
Rajendra K Goyal
(Expert) 01 February 2016
Take back PDC if left unused / given any.
Get de-mortgage letter and clearance letter.
Get back all your title deed.
Kumar Doab
(Expert) 01 February 2016
Agreed with Experts.
Did you receive the certified copy of loan brochure,loan application,loan sanction letter,loan agreement,monthly loan a/c statement?
Obtain these as well and payment of FNF amount,NOC as well.
Raj Kumar Makkad
(Expert) 01 February 2016
I fully endorse the advice given above.