Importance & Benefits of No Dues Certificate
- A No Dues Certificate confirms that all outstanding loan dues, interest, and charges have been fully cleared.
- It acts as official proof of loan closure, protecting borrowers from future recovery claims or disputes.
- The certificate helps maintain a healthy credit profile, as lenders update closure status with credit bureaus accordingly.
- It is often required when applying for new loans, refinancing, or transferring liabilities to another lender.
- For secured loans, it supports the release of collateral or lien removal.
- The document also ensures transparency and financial discipline, giving borrowers peace of mind after repayment completion.
Documents Required for No Dues Certificate
Document type |
Purpose |
When required |
Loan account number |
Identifies the closed loan |
Mandatory |
Identity proof (PAN/Aadhaar) |
Verifies borrower identity |
If requested by lender |
Loan closure statement |
Confirms full repayment |
Mandatory |
Foreclosure receipt |
Evidence of final payment |
For foreclosed loans |
Application form/request |
Initiates certificate issuance |
Mandatory |
Authorisation letter |
Allows third-party request |
If applicable |
Application Process (Online & Offline)
You can apply for a No Dues Certificate through both online and offline channels. Online, log in to the lender’s customer portal or mobile app, select your closed loan account, and submit a request under loan services or documents. Once verified, the certificate is usually issued digitally.
For offline applications, visit the nearest branch and submit a written request along with necessary documents such as loan account details and identity proof. The lender verifies repayment status and processes the request. Processing timelines may vary depending on loan type and closure mode, but most lenders issue the certificate within a few working days after validation.
How to Download Your Certificate
- Log in to the lender’s official website or mobile app
- Navigate to the loan documents or statements section
- Select the closed loan account
- Click on “No Dues Certificate” or “Loan Closure Certificate”
- Download the PDF and save it securely
- Check details before using it for official purposes
Certificate Format & Key Details
Key detail |
Description |
Borrower name |
Name as per loan records |
Loan account number |
Unique loan reference |
Loan type |
Personal, home, business, etc. |
Closure date |
Date of full repayment |
Outstanding dues |
Marked as NIL |
Authorised signatory |
Lender’s official confirmation |
Regulatory Guidelines & Updates
Regulatory bodies require lenders to issue loan closure documents, including No Dues Certificates, after full repayment. These guidelines aim to protect borrower interests and ensure timely updating of credit bureau records. Lenders must not delay issuance without valid reasons. Recent updates emphasise digital availability of such documents, quicker turnaround times, and grievance redressal mechanisms if certificates are not provided within stipulated timelines.
Troubleshooting: Delays & Grievances
- Confirm that all dues, including charges, are fully paid
- Recheck loan closure status on the customer portal
- Contact customer support with your loan account number
- Raise a formal service request or grievance if delayed
- Visit the branch if online support does not resolve the issue
- Escalate to the lender’s grievance cell or regulator if required
You may also explore these digital services on the go by using our app. Visit the Play Store or the App Store and download the Bajaj Finserv app in just a few simple clicks.
