We all know that dealing with public sector banks is not that easy. They don’t have proper information help desks or customer care help lines. But the best thing about them is they have the cheapest interest rates in the market for Vehicle/House/Personal loans with no hidden charges. So we obvious tend to go for that. Now a days State Bank of India (SBI) is very aggressive in issuing Car/Home loans with competitive interest rates.

 
Recently I purchased a car with SBI car loan. Then I wanted to pre-close the loan but I didn't had any information on how to proceed.
Then I approached nearest SBI branch manager to know about the procedure to pre-close the SBI car loan. The manager told me I can do an NEFT or online transfer the outstanding amount using onlinesbi.com. Then I have to approach the SBI home branch in which the car loan account is opened and get the loan account closure form and the account statement. After that we need to approach the RACPC (Retail Assets Central Processing Centre). There we need to submit the copy of Registration Certificate (RC) along with the car loan account closure document. They will check the status of the car loan online and issue the No Object Certificate (NOC) and two copies of Form-35 which we need to produce it to the respective RTO.