Know the importance of no dues certificate

Learn why no dues certificate (NDC) is critical and the steps required to download it.
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Know the importance of no dues certificate
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5 min read
15 September 2023

The loan process generally consists of two main phases - obtaining loan approval and ensuring timely repayment. However, a significant aspect that is often overlooked in this process is the formalities associated with concluding the loan agreement.

After you have fully repaid your loan and it is officially closed, a no dues certificate (NDC) is issued. This is a crucial legal document provided by the financial institution, affirming that you have no remaining dues with the lender. Your loan cycle is closed only after you obtain this NOC letter.After you have fully repaid your loan and it is officially closed, a no objection certificate (NOC) is issued. It’s also commonly known as the ‘no dues certificate'. This is a crucial legal document provided by the financial institution, affirming that you have no remaining dues with the lender. Your loan cycle is closed only after you obtain this NOC letter.

A no dues certificate offers you the formal assurance that your loan repayment process has reached its conclusion. It serves as an official declaration confirming that your loan has been entirely repaid, and no financial obligations are remaining.

Not having an NDC after closing a loan can lead to serious consequences. Firstly, it might affect your credit score, making it harder to secure future loans. Also, you may face financial loss, as you could be asked to repay an amount you've already settled.

Bajaj Finance streamlines loan management by simply logging in to your account with Bajaj Finserv. This portal simplifies the process of monitoring your loan information and obtaining your no dues certificate upon loan closure.

Steps to download no dues certificate online through our customer portal

If you have a loan with Bajaj Finance, you can download your NDC in a few easy steps by visiting your account:

  •  Click on the ‘Sign-in’ button on this page to go to our customer portal.
  • Enter your registered mobile number and submit the OTP to sign-in.
  • Verify your details with your date of birth and proceed.
  • Select the loan account for which you want to download the NDC.
  • Find all your documents and click on ‘No Dues Certificate’ to download it.

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You can also download the Bajaj Finserv app from the Play Store/ App Store and download your no dues certificate on the go.

Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.

Frequently asked questions

What is a no dues certificate?

A no dues certificate is an official document issued by a lender or financial institution, confirming that all outstanding debts and obligations have been paid in full by the borrower. It indicates that the borrower owes no further payments and their account is closed.

What is the difference between NOC and no dues certificate?

A no dues certificate confirms that all payments on a loan have been cleared, whereas a NOC (No Objection Certificate) is a broader document indicating that the issuer has no objection to the borrower engaging in a particular activity or transaction, such as transferring a vehicle ownership or property.

How to get a no due certificate from Bajaj Finserv?

To obtain a no dues certificate from Bajaj Finserv, ensure your loan is fully repaid. You can request the certificate through their customer service, by visiting a branch, or via the Bajaj Finserv app or website.

Can I download NOC online?

Yes, many financial institutions, including Bajaj Finserv, allow you to download a NOC online. Log in to your account on the institution’s website or app, locate the relevant loan section, and follow the instructions to download the certificate.

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