Vehicle NOC not received after loan closing?

Question

I have closed my vehicle loan on 13.10.2015..The contract no is TBG00202L product model is Ashok leyland dost LS BS.Still now i am received NOC from bank from redhills branch.Nobody responding to customer in this branch so i request Plz do needful & release my NOC as soon as possible.

 

Answer 1

Hi, Suresh

A bank / financial institution is required to provide you with NOC, the moment vehicle loan account is closed, which would enable you to get the hypothecation clause removed and further to sell it.  The bank / FI can not delay/deny the same.  Please do take it up with Bank's management, as per the appended process.

1.    Go to your Bank’s website and search for grievance redressal (or similar name) button and submit your complaint online.

2.    If you do not receive any reply / satisfactory reply within 10 days, lodge your complaint with the Nodal officer of the Bank (either through email or letter)

3.    If you do not receive any reply / satisfactory reply within 10 days from the Nodal officer, lodge your complaint with the Principal Nodal officer of the Bank (either through email or letter)

4.     If you are still not satisfied with the reply / do not receive reply from the Principal Nodal officer within 10 days, lodge your complaint with the Banking Ombudsman (either through letter or email)

RAJA