Write a letter to bank manager requesting no objection certificate to remove hypothecation

If a person has purchased a vehicle using bank loan, the vehicle is hypothecated to the concerned bank. The ownership of the vehicle belongs to the bank. In order to be able to sell the vehicle, the hypothecation to the bank has to be removed by the customer. This is a simple letter to the bank manager requesting no objection certificate to remove hypothecation. The letter can be modified according to need and preference.

 

To
The Bank Manager
Bank Name
Bank Address

Subject: Letter for NOC

Write a letter to the bank manager asking NOC for vehicle transfer 

Dear Sir/Madam,

I had applied for a vehicle loan with loan account number 522333XX. Details of the vehicle are given below:

Sl No	Make	Model	Registration Number
1	Honda	Accord	TN23XXX2436

I would like to state that all the installments of the said loan have been duly paid by me. The date of the last transaction was on 2nd January 2023.

I would require a no objection certificate from your end for hypothecation removal at the RTO office. Therefore, I request you to issue me the no objection certificate at the earliest.

This is for your kind information and necessary action

                                                                                            Yours truly,

 

                                                                                             Your name

                                                                                             Your address

                                                                                            

Date:
Place:

Enclosure:

1.      Aadhar ID copy

2.      RC book copy

 

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