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But a home loan closure must be completed properly to ensure no further problems arise in future. Jeeva is my neighbor in Chennai who had bought a house 10 years ago. He had pre-closed his loan 2 years ago. When he was about to sell his house last month, he was in for a rude shock. The bank had returned the original documents 2years ago but had failed to remove the lien on mortgage entered on the house nor provide the No Object Certificate. This prevented him from having an immediate sale and he had to get the pending documents. It is the responsibility of the bank to provide these documents once the home loan is closed.

In India, sometimes you don’t get unless you ask for them. So be sure to ask what you need. Let us now dive into what things you must do once you pay all your home loan installments and close your home loan. Home Loan Pre-payment Home loan pre-closure is nothing but making your home loan debt payments to the bank in part or full before the tenure.