New Delhi: If you have also taken a home loan, then this information is very important for you. According to the news, after taking a home loan from any bank or financial institution.
Repaying its full EMI is a big relief, but, after filling the EMI completely, an important task can ensure you to go ahead.
After repairing the home loan, No Objection Certificate (NoC – No Objection Certificate) should be obtained. Let us know that NoC is a kind of certificate.
Which contains information that you have repaid home loan and you have no liability to the bank or financial institution. Also, after taking NoC, the house is completely yours and no bank or financial institution can claim your property.
Many a times it happens that after repaying the entire EMI of a home loan, you may get some arrears from the bank or financial institution.
To avoid this, NOC should be obtained. Once you take NoC, then only your last loan close is considered. Your credit score will also be affected.
So, while applying for a loan in future, you may have some problems. Generally, it would have been sent to the NOC by registered post at the customer’s address by the bank or financial institution.
That is why it is also important to ensure that your address and mobile number are correct.