Car Forum - Ask & Answer Questions Online

Welcome to Mycarhelpline.com Automotive Forum !!

  1. Anila Gupta
  2. Finance, Insurance
  3. Friday, September 06 2013
My Auto Loan is getting closed from State Bank of India and got NOC. What is the process to removing Bank HP from Vehicle RC Book after having NOC
Admin Accepted Answer
-1
Votes
Undo
Hello,

You can submit the set of documents in RTO for removal of Hypothecation from RC:-

> Original NOC Letter as sent by Bank stating Loan closure (Do note that NOC as sent by Bank has validity mentioned on it - around 45 to 60 days - so ensure that you apply for removal of hypothecation within same period)
- Original Copy of RC is Required to Submitted (ensure that you keep photocopy with you)
- 2 Copies of RTO Form 35 to be signed & stamped by financier & also needs to be signed by your side. You can download :- form 35
- Certified Self Attested Copy of ID Proof, Address Proof, Insurance, Latest Valid PUC Copy
- Carry a blank envelope with your address mentioned on it along with postage stamps (equivalent to value of registered post charges).
- In terms of Fees :- HP Removal Charges of Rs. 110 approx + New Smart Card issuance charges of Rs. 250 to 300 to be submitted

Note -
> NOC issued by banks is generally valid from 45-60 days. So - at time of submitting dox - Noc should be Valid
> Address in RC should be matched as with present address proof, else some undertaking or form may also be required to submit

The Updated RC without HP would then be sent by registered post to your address in around 15 days

In mean-while - you can still drive in car basis RC Photocopy and RTO Tax Receipt as paid for HP Removal


  1. more than a month ago
  2. Finance, Insurance
  3. # 1
Paveen Accepted Answer
-1
Votes
Undo
I bought a second hand car in 2010, at that time I didn't transfer the car to my name. My car was financed by a company earlier. Now I want to sell it and for that I required a NOC from the bank, but now I don't know from which bank it was financed. How can I get the NOC now?
  1. more than a month ago
  2. Finance, Insurance
  3. # 2
nikhil Accepted Answer
0
Votes
Undo
hi , what is the producer of transfer from individual to individual & mh 02 to mh 02 the owner of car has hypothecation he is telling me i have noc so what i should do & how many charges r there , period of transfer etc please do the need full . how to transfer insurance papers
  1. more than a month ago
  2. Finance, Insurance
  3. # 3
Suresh Accepted Answer
0
Votes
Undo
Hi...
I took a owner (MH14 ) has second hand bike..that has hypothecation on RC and that owner has NOC papers..He is saying that u can transfer to my name directly by cancelling NOC..So what is the process & fee charges and what are the documents required?
Please let me know easy way...


  1. more than a month ago
  2. Finance, Insurance
  3. # 4
Rizwan Shaikh Accepted Answer
0
Votes
Undo
I have purchase second hand car and loan clear.i have all paper with bank NOC but HP not clear. car owner not available but i have owner pan copy. let me know How can I get HP clear.
  1. more than a month ago
  2. Finance, Insurance
  3. # 5
John Munro Accepted Answer
0
Votes
Undo
Dear Patron,

Can anyone clarify the following points clearly - ??

In year 2006 -
1). I bought/purchase One Car through Bank's loan.
2). and the RC (registration certificate) was on Bank's Name - HP to bank
3). in other words the 1st Owner was Bank as per RC.
4). After completion of loan, I submitted all forms with RTO and transfer the RC into my name.
5). When I got my RC, then I saw on RC that my name was mentioned as a 2nd owner.
It was done in 2007 after loan completion but as per few people these days are happening
as per following : -

In year 2018 -
1). I bought/purchase One Car through Bank's loan.
2). and the RC (registration certificate) was on my name and HP to bank
3). in other words that we both are the owners but HP to bank.
4). After completion of loan, I am going to submit all forms with RTO to transfer it on my name.
5). but when I will get my RC, then what should be mention that 1st owner or 2nd owner ?

PLEASE CLARIFY THE SAID POINTS - I will highly appreciate you as I am Australian and living
in Delhi for the last 15 years.
  1. more than a month ago
  2. Finance, Insurance
  3. # 6
Vipin kumar Accepted Answer
0
Votes
Undo
Sir maine Car kharidi or ownership transfer karwali iam 2nd owner Sir rc ke kone par. Dup/hpt/to. Likha h.????iska matlab batao Sir kya is par koi Loan h
  1. more than a month ago
  2. Finance, Insurance
  3. # 7
abhay Accepted Answer
0
Votes
Undo
can i check online my HP is remove or not
  1. more than a month ago
  2. Finance, Insurance
  3. # 8
Manjeet kumar Accepted Answer
0
Votes
Undo
Sir I purchase old car. MY Car No DL 4CNC 8744. Mere car par koie loan outstanding hai ya nahi. Please tell me
  1. more than a month ago
  2. Finance, Insurance
  3. # 9
  • Page :
  • 1


There are no replies made for this post yet.
Be one of the first to reply to this post!
Guest
Submit Your Response
Upload files or images for this discussion by clicking on the upload button below. Supports gif,jpg,png,zip,rar
• Remove Upload Files (Maximum File Size: 1 MB)
You may insert polls into your post. The poll would then appear in the post.
Vote Options
Captcha
To protect the site from bots and unauthorized scripts, we require that you enter the captcha codes below before posting your question.