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AAPLY FOR HP TERMINATION
Hypothecation Termination in Bangalore
Do you want to apply for Hypothecation termination in Bangalore, Itzeazy provides service for HP termination in Bangalore. Itzeazy provides service for RTO hypothecation removal process online in Bangalore. Remove hypothecation from RC Bangalore, after re-payment of loan with the help of Itzeazy. Car hypothecation removal in Bangalore is one of the specialized service of Itzeazy. Its important to remove HP from RC in Bangalore to sell your vehicle or to transfer your vehicle to other state. Upon loan closure Hypothecation closure letter is given by the bank . This Hypothecation closure letter is to be submitted to the concerned RTO for Hypothecation removal process from RC in Bangalore .
Itzeazy makes HP Termination process faster
Itzeazy has a team of expert professionals who helps in the process to remove hypothecation from RC online in Bangalore. The HP cancellation process is done online while you sit at your home. Its door step and hassle free service. Application for Hypothecation termination should be submitted to the RTO where vehicle is registered.
why to remove Hypothecation From RC
Following are the benefits of removing hypothecation from RC :
- 100% ownership – You have complete control over your vehicle once the hypothecation is removed from RC. You can sell, transfer, scrap or modify your vehicle as you wish. Consent of financier is no longer required.
- Clean title – Hypothecation termination ensures that the you are the only owner . Bank has no say in it. A clean title makes selling or transferring the vehicle easier.
- Insurance benefits - Insurance claims becomes complex procedure , if its under hypothecation from the financier .
- Resale value – When you go to sell your vehicle, dealers often bring down the price based on the basis of pending documentation. Also more you delay, more is the chances that Bank NOC gets expired. It will further bring down the value of the vehicle. With these complications, your negotiation power reduces.
- Hassle-free documentation – You need to take consent from financier every time for every RTO process such as duplicate RC, vehicle NOC, RC transfer etc. Once Hypothecation removed from RC, Its no longer required.
rTO OFFICES IN BANGALORE
HSR LAYOUT RTO
WJCW+MM2, 21st main road,
Agara Village, 1st Sector,
HSR Layout, Bengaluru,
Karnataka 560102
RAJAJI NAGAR RTO
Bangalore west (KA02)
Corporation Complex ,
Rajaji Nagar,
Bangalore
INDIRA NAGAR RTO
Bangalore East (KA03)
BDA Complex , Indira Nagar,
Bangalore
YESHWANTPUR RTO
Bangalore North (KA04)
Corporation Complex ,
Yeshwanthapura,
Bangalore
JAYANAGAR RTO
Bangalore South (KA05),
Jayanagar Shopping complex,
4th Block , Jayanagar ,
Bangalore
ELECTRONIC CITY RTO
Electronic city (KA51)
Chennakeshava Nagar ,
Hosur Road,
Bangalore
YELANKHA RTO
Yelahanka ( KA50)
K.H.B.Commercial Complex ,
Yelahanka New Town ,
Bangalore
JNANABHARATHI RTO
Jnanabharathi (KA41)
Mysore Road
Bangalore
K. R. PURAM RTO
K. R. Puram (KA53)
Bhattarahalli
Old Madras Road
Bangalore
CHANDAPURA RTO
Chandapura (KA59)
Sy No 194 & 195,
Chandapura Anekal Main road,
Marasuru Village,
Bengaluru-562106
RTO fees for HP addition/ endorsement
Endorsing hire purchase/lease/hypothecation agreement:
Motorcycle Rs. 500
Light motor vehicle Rs. 1500
Medium/heavy vehicle Rs. 3000
Where can I get the NOC after car loan repayment?
Ans : Bank or the financial institute which has given car loan, will provide NOC for hypothecation removal from RTO. It will also provide 2 sets of form 35 signed by the bank. Pls note that you need to submit original bank NOC and form 35 set in the RTO for hypothecation cancellation process. Soft copy of these documents will not serve the purpose.
How to check hypothecation cancellation online or how to check hypothecation of vehicle online ?
Ans : You can check status of hypothecation of vehicle by sending SMS to the mobile no. - 7738299899 . Format of the SMS is VAHAN space vehicle no . So suppose the vehicle no. is KA01CX1133 , then the SMS format should be VAHAN KA01CX1133. This SMS should be sent to no. 7738299899 . You will get an SMS . It will show the status of hypothecation cancellation.
What is RTO hypothecation ?
Ans : If a vehicle is purchased on loan or its financed by some financing company , in the RTO record name of the financing company is mentioned against the vehicle record as financier. So, RTO hypothecation indicates that particular vehicle is hypothecated to that specific financier .
When loan is re-paid fully, the name of the financier should be removed from the RTO record. This process is called Hypothecation (HP) termination .
My car is registered in Bangalore RTO , but now I live in Mumbai . Do I need to visit Bangalore RTO for HP removal process ?
Ans : For HP deletion or HP termination process in Bangalore RTO , physical presence of registered owner is not required . You just need to send your documents to Bangalore office of Itzeazy. We will get the work done and send back your documents.
I bought my car 5 year back on loan . Now I have re-paid the loan fully . However , my address has changed in Bangalore . What should I do ?
Ans : Since your address has been changed , its advisable to go for HP termination and change of address process together.
My vehicle was on loan which I have already closed 3 years back . Bank had given NOC for loan closure which expired long back . Now I want to go for removal of Hypothecation from vehicle in the RTO. Do I need to take fresh NOC from the bank?
Ans: Yes, you will have to take fresh NOC from the bank , as it has been already expired. In some cases work can be managed to get the done with expired NOC . For information on it you may contact one of our representative.
How can I endorse the hypothecation and its deletion?
Ans: If a vehicle is purchased on loan from a financier the same could be endorsed in the registration certificate. The following are the documents required:
- Original RC
- Two copies Form no.34 duly filled (for endorsement of Hypothecation).
- A certificate from financier for having retained full dues from the financier (for deletion case only).
- Self Attested copy of valid insurance.
- Self Attested copy of address proof of the registered owner.
- Self Attested copy of valid pollution under control certificate.
- Prescribed RTO fee.
- Self Attested copy of PAN Card or Form 60 & 61(as applicable)
I want to sell my car. there is loan on the car. Is it necessary to do hypothecation termination before selling car ?
Ans : Yes, its mandatory to clear the loan and do hypothecation termination before selling the car. Without clearing hypothecation in RTO you can not apply for RC transfer process.
I have lost RC of my car. There is hypothecation on my car. Do I need consent from bank while applying for duplicate RC?
Ans : To apply for duplicate RC, consent of bank is required on form 26, if vehicle is hypothecated to the bank.
How can I remove hypothecation in Bangalore?
Ans : HP termination in Bangalore is not online completely . Application can be filled online. Fees can be paid online . However physical submission of application forms and supporting documents is required at Bangalore RTO.
Following are the steps for HP termination in Bangalore :
- Visit the official website of parivahan
- Select ‘Vehicle related Services’
- Select ‘State’ and input the ‘RTO number’, then click ‘Proceed’
- Select ‘Apply for Hypothecation termination’
- Enter your vehicle details as a Vehicle Registration No. and the last five characters of chassis number
- Fill up the application detail carefully
- Deposit Requisite RTO fees online
- Take print of RTO fees receipt
- Submit signed application forms along with supporting documents to the concerned RTO.
- Application will be scrutanized and processed
- You will get RC after hypothecation removal after one month
Is hypothecation removed automatically?
Ans : No. Hypothecation is not removed automatically. Bank issues NOC certificate and form 35 set for vehicle loan closure. Application for hypothecation removal should be submitted in the concerned RTO for HP termination from the RTO record.
Is form 35 and NOC the same?
Ans : No. Form 35 and NOC are not the same . NOC is given by the financer once you repay the loan on vehicle completely. It is stated in the NOC that loan has been closed and bank has no objection in the removal of hypothecation from the RTO record against the said vehicle.
Form 35 is the RTO application form used for the hypothecation termination from the RTO record of the vehicle.2 sets of form 35 is to be submitted in the RTO for hypothecation cancellation along with supporting documents. This form 35 should be signed by both bank as well as registered owner.
I have purchased a bike which is registered in other state. There is hypothecation on it. Who will apply for hypothecation termination in the RTO?
Ans : Since bike is still in the name of previous owner, so seller should apply for hypothecation termination in the RTO.
Why to Choose Itzeazy
🏍️ Faster processing - We make the HP termination process faster
🏍️ Guaranteed service - Get guarantee success with our consultants
🏍️ No hidden cost - Transparent pricing
🏍️ Accurate guidance - We have the knowledge and experience to make the process smooth and stress-free
🏍️ Our presence - Apply for services from anywhere in India, always open for you
🏍️ Door step service - Document pickup & drop from the convenience of your home
🏍️ Safety & Confidentiality - Your privacy is out utmost priority
HP termination IN BANGALORE
In general, people make the mistake of believing that after paying off their vehicle loan EMIs, everything is finished and taken care of automatically. However, Hypothecation removal process in Bangalore needs to be done at the RTO office where the vehicle was registered in order to make sure that loan or hypothecation is not reflected in the RTO record against the vehicle .
If you don't remove hypothecation from your RC , in the normal circumstances it does not create problem. However when you apply for other RTO related process like Duplicate RC, transfer of ownership of vehicle , vehicle NOC then its mandatory to remove hypothecation from the RTO record first.
There is validity period mentioned on the bank NOC paper. If you dont submit it to the RTO within that period , you will have to again take it from the bank. Bank charges for issuing loan closure letter second time. Also there will be additional hassle in going to the bank. To avoid its advisable to go for HP termination process immediately once you pay off your vehicle loan.
Process for HP termination in Bangalore
- Get Bank NOC and form 35 from the bank
- Submit application for HP termination along with supporting documents to the concerned RTO
- Deposit requisite RTO fees
- Application processing
- Approval of application if everythnig is in order
- Issue of new RC after HP termination
- Collect new RC from the RTO
Bank or financial institution issues NOC for hypothecation termination . It has to be collected by the registered owner from the concerned bank and needs to be submitted to the RTO along with other supporting documents . Loan closure or re-payment doesn't result into automatic removal of hypothecation from the RTO records.
Process of HP termination is not completely online in Bangalore. Application can be generated online. RTO fees can be deposited Online. However physical submission and collection of documents at RTO is required.
However, Itzeazy has online process for HP termination in Bangalore.
DOCUMENTS REQUIRED FOR HYPOTHECATION termination IN BANGALORE
Following are the documents required for HP cancellation process in Bangalore
- A certificate from financier for having retained full dues from the financier (for deletion case only)
- 2 Nos. of duly signed form 35
- Original RC
- Copy of Valid insurance
- Copy of valid pollution under control certificate
RTO Hypothecation removal process of Itzeazy in Bangalore
Itzeazy has following process for Hypothecation removal in Bangalore
- Requirement understanding of the client
- Sharing of the list of documents required for HP termination in Bangalore
- Advance payment by the client
- Verification of the soft copy of the documents
- Collection of physical copy of documents
- Submission of the document to the RTO
- Time to time update to the client about the progress of the work
- Work completion and dispatch of the document
Visit Required - No
Processing Time - 15 days