It has become very easy nowadays to take a loan from the bank when you need money. From personal loan to home loan, a person can easily get a loan according to his needs.
Many times people are not able to stop themselves from taking loans even after seeing tempting offers. Every small and big needs can be met by taking a loan in today’s date. Then in a stipulated time, those money can be returned to the bank and can also be found exempted from the loan. But many times a small mistake is made by some people in the midst of all this. Today we are going to tell you that along with repaying the loan, what is the work that you should get done from the bank immediately.
Immediately ask for no objection certificate from the bank
If you have repaid your loan, immediately ask for a no objection certificate, also known as NOC, from the bank. After getting NOC in hand, you will be completely safe. If you delay in getting NOC after paying the loan amount or have not taken it at all, then there are many disadvantages which you may have to bear unnecessarily. In the future, due to this small mistake, you may have to face many problems.
It is very important to take proof of debt closure
Many times people do not read the terms of the bank while taking a loan. The result of not seeing the loan rules properly is that many times people keep paying money even after repaying the loan. Because their loan has been completed, they do not have such a certificate. In such a situation, if you claim that you have given full money and go to court, then there will be no use of going there. Therefore, it would be better to secure yourself by getting proof of this in writing from the bank as soon as the loan is over.
Credit score can make a big difference
After paying the loan amount, it is your obligation to immediately provide this information to CIBIL CIBIL. On which date you took the loan from which bank and when you filled your last EMI, you will have to tell all this information to CIBIL. If you do not do this then you can be declared a defaulter in the records of CIBIL. This will directly affect your credit score.
NOC is a very useful thing
NOC is considered to be the most important document. With this, you will be able to complete many types of work easily. If you want to transfer the balance of the loan in future, then you will need NOC for this. Always take loan according to your income. By taking a big loan, you can also get into many troubles in future.
