What is a loan NOC. How to get one

No Objection Certificate (NOC) is a proof that you have paid back your loan. Here's how to get one.
What is a loan NOC. How to get one
4 min read
28 Sep 2022

At the time of taking a loan, you opt for a tenure. This determines the number of monthly instalments you will be paying over the course of the loan. Once you’ve paid all the instalments, the loan is closed, and a No Objection Certificate (NOC) is generated. This is also referred to as the ‘No Dues Certificate’.

A personal loan NOC gives you legal confirmation that your loan repayment process is finally over. It is an official record stating that your loan has been repaid in full and you do not owe any more money to the lender.

This legal document provided by Bajaj Finserv mentions that you have repaid your full loan amount, plus the interest, and there are no outstanding dues with the lender. A NOC includes your name, loan details, date of closure, and a statement stating that the entire loan amount, including the interest, has been paid off.

What is the legal significance of a personal loan NOC?

An NOC is legal proof stating that you have cleared all your personal loan dues with Bajaj Finserv. If you do not have an NOC, your loan is not considered ‘Closed’, which means you may need to make further repayments on it. This can cause legal issues for you and is a strike against your financial record.

Thus, not having an NOC for a previous loan can negatively affect your credit score and make it tough for you to get any future loans.

Few easy steps to download your personal loan NOC from ‘My Account’:

  1. Sign in with your mobile number and an OTP
  2. Click on ‘My Relations’
  3. Click on ‘Mandate and Documents’ from the menu
  4. Select ‘Document Centre’ from the drop-down list
  5. Click on the loan you are closing
  6. Click on ‘Download NOC’



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