Process of Home / Car Loan Closure


Thread Starter #1
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Hi,

Kindly share the process and checklist for Home Loan closure @ AXIS Bank.

I am planning to do foreclosure by this week and really do not have much idea on this.

Thanks,
Alok
 
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Re: Process of Home Loan Closure

HI Ertiga_ZMR, following are the steps:
1) Call the AXIS bank help number and get the address for the car loan division. It is not generally in the bank branch which helped you get the loan, but a different one that deals with loans specifically.
2) Go to the branch will all the car & loan papers.
3) Fill the proper forms and deposit the outstanding amount.
4) Get the NOC letter from the bank and also Form 35 filled and signed by the bank authorities.
5) Deposit form 35 , NOC together with the current Smart card to ROC. Take the receipt.
6) ROC will issue you with a new smart card (Hypothecation = N). May take upto 30 days. Hence you will need the old smart card xerox and ROC receipt in order to drive the car within this period.

Hope it helps.
 
Thread Starter #3
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Re: Process of Home Loan Closure

Hi Chavan,

Thank you for your valuable input but I have asked it about Home Loan not Car Loan.

Moderators: Could you please change the title as Process of Home/Car Loan Closure. This may be useful to others also.
 
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Re: Process of Home Loan Closure

Hi Chavan,

Thank you for your valuable input but I have asked it about Home Loan not Car Loan.

Moderators: Could you please change the title as Process of Home/Car Loan Closure. This may be useful to others also.
@Ertiza_ZMR: Yes, you are right. I must be sleeping not to notice. Moderator kindly delete/shift my post as applicable.
 
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