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2 mins Read | 6 Months Ago

Two-Wheeler Loan NOC - What is it & Importance



For many Indians, owning a two-wheeler is not just a convenience but a necessity. To make this dream a reality, you might have opted for a two-wheeler loan. While the loan helps you get on the road, there's an essential document you must be aware of - the Two-Wheeler Loan No Objection Certificate (NOC).

This detailed blog will tell you the significance of a Two-Wheeler Loan NOC, why it is important and how it relates to your bike loan.

Understanding the Two-Wheeler Loan NOC

A No Objection Certificate (NOC) for a two-wheeler loan is a legal document issued by the lender to the borrower, confirming that the loan has been fully repaid and there are no pending dues or liabilities. It serves as proof that you have fulfilled your financial obligations concerning the bike loan.

Importance of a Two-Wheeler Loan NOC

  • Ownership Transfer:

    If you plan to sell your two-wheeler, the NOC is essential. It facilitates the smooth transfer of ownership to the buyer, assuring them that the vehicle is free from any encumbrances or pending loans.

  • RTO Process:

    When you purchase a two-wheeler using a loan, the vehicle's registration is often in the lender's name until the loan is repaid. The NOC is necessary to initiate the process of transferring the vehicle's registration to your name.

  • Insurance Claim:

    In case of accidents or damage to your Two-Wheeler, your insurance claim may be impacted if the vehicle's ownership is not transferred to your name. The NOC is a crucial document to ensure a hassle-free insurance claim settlement.

  • Legal Compliance:

    It is a legal requirement to update the ownership details of a vehicle with the Regional Transport Office (RTO) after loan repayment. Failing to do so may result in legal complications.

Obtaining the Two-Wheeler Loan NOC

If you have take a bike loan from ICICI Bank, the process of obtaining NOC for a bike loan is relatively straightforward:

  • Loan Repayment:

    Ensure you have repaid the entire loan amount along with any applicable interest and charges.

  • Contact the Bank:

    Get in touch with ICICI Bank's customer care or visit any Branch to request the NOC. You may need to provide details such as your loan account number and vehicle information.

  • NOC Issuance:

    ICICI Bank will verify your loan repayment and initiate the issuance of the NOC. This process may take a few days, so it's advisable to apply well in advance if you plan to sell your Two-Wheeler.

  • Document Collection:

    Once the NOC is ready, you can collect it from the Bank branch or have it mailed to your registered address.

The Role of the NOC in the RTO Process

After obtaining the Two-Wheeler Loan NOC, you need to follow specific steps with the Regional Transport Office to complete the ownership transfer:

  • Submit Documents:

    Visit the local RTO office and submit the NOC along with other required documents, such as your bike's registration certificate, insurance, pollution certificate and identification documents.

  • Verification:

    The RTO will verify the documents and ensure there are no outstanding dues or loans against the vehicle.

  • Payment of Fees:

    Pay the necessary fees for the ownership transfer and receive the updated registration certificate in your name.

Tips for a Smooth NOC Process

Obtaining a Two-Wheeler Loan NOC is a straightforward process, but there are a few tips to ensure a smooth experience:

  • Plan in advance:

    If you anticipate selling your Two-Wheeler or initiating any ownership-related process, it's wise to start the NOC application early. This gives you ample time to complete all necessary formalities.

  • Clear Loan dues:

    Before applying for the NOC, make sure that all your loan dues, including the principal amount and any pending interest or charges are fully settled. This will expedite the NOC issuance process.

  • Document verification:

    Ensure you have all the required documents in order. This typically includes your loan account details, vehicle information, identification documents and proof of loan repayment.

  • Visit Branch:

    While some banks may offer online NOC request options, it's advisable to visit any branch in person. This allows you to clarify any doubts, confirm the status of your NOC and collect the document promptly.

  • Check vehicle details:

    Verify that all vehicle details mentioned in the NOC, such as the chassis number, engine number and registration number, match those on your two-wheeler's documents. Any discrepancies should be rectified before obtaining the NOC.

  • Retain a Copy:

    Once you receive the Two-Wheeler Loan NOC, make multiple copies and keep them in safe and easily accessible locations. This ensures you have backup copies in case the original is lost or damaged.

Must Read: Factors To Consider Before Taking A Two Wheeler Loan

In the journey of two-wheeler ownership through a loan, the Two-Wheeler Loan NOC plays an important role. It not only signifies the successful repayment of your bike loan but also streamlines the process of transferring ownership and ensures legal compliance. So, whether you are planning to sell your bike or simply want to ensure that your ownership details are up to date, obtaining a Two-Wheeler Loan NOC is an essential step towards a hassle-free and legally sound journey on the road. If you’re an ICICI Bank customer, you can navigate this process quickly with ease.


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