Service Details

HP Cancellation for Four-Wheeler

Benefits:

• Transfers full ownership of the car legally
• Enables sale, transfer, or re-registration without finance company involvement
• Clears lien from RTO records
• Improves credit profile with completed loan closure
• Provides peace of mind with a clear title

Eligibility:

• Loan should be completely closed and NOC from the bank obtained
• Original RC, valid insurance, pollution certificate, and address proof required
• Application must be submitted within the grace period (usually 90 days)
• Physical verification may be needed at the RTO

HP Cancellation for Two-Wheeler
Benefits:

• Removes hypothecation from RC after loan closure
• Updates RC as a fully owned vehicle
• Allows easy resale or transfer
• Avoids bank NOC dependency for future services
• Makes insurance premium cheaper after ownership update

Eligibility:

• Loan must be fully repaid
• NOC (No Objection Certificate) from bank or finance company
• Original RC, insurance, and pollution certificate required
• Application should be submitted within 90 days of NOC issuance

Duplicate HP Cancellation (Lost NOC Re-issuance)
Benefits:

• Allows HP cancellation even if the original NOC is lost
• Saves time by avoiding loan re-closure process
• Prevents rejection of RC update
• Provides duplicate official NOC for RTO processing

Eligibility:

• Request must be submitted to the lender for duplicate NOC
• FIR or affidavit is required for lost NOC
• Valid ID, RC, and insurance required for re-issuance and RTO update

HP Termination with Address Change
Benefits:

• Cancels hypothecation and simultaneously updates address
• Avoids multiple visits to the RTO
• Ensures RC has correct owner details after loan closure
• Saves additional processing fees later

Eligibility:

• Loan must be closed with NOC from the lender
• New address proof such as Aadhaar, rental agreement, or utility bill required
• Application must be made in the jurisdiction of the new address

HP Termination for Vehicle Transfer
Benefits:

• Removes hypothecation to enable smooth sale or transfer
• Required before ownership change to buyer’s name
• Clears all loan-related entries before resale
• Prevents rejection of ownership transfer request

Eligibility:

• Loan must be fully paid and NOC from bank available
• RC, insurance, and PUC must be in the owner’s name
• Seller must initiate HP termination before the transfer process

HP Termination with Duplicate RC
Benefits:

• Cancels hypothecation even if the original RC is lost
• Provides a fresh RC with updated ownership status
• Avoids delay in selling or transferring the vehicle
• Ensures RTO records are updated correctly with a clear title

Eligibility:

• Loan should be closed with valid NOC from the lender
• FIR or affidavit for lost RC required
• Application for duplicate RC and HP termination must be submitted together
• Valid ID, insurance, and PUC required

Government fee: ₹600 – This is the statutory fee paid directly to the concerned department as per applicable government rules.

Approximate Approval Time: 7 to 14 Working Days 

Price Covers – Service + executive + admin + support: end-to-end assistance including documentation, online uploads, portal management, expert consultation, printing and support from a dedicated Relationship Executive.

Note: Our service charges may vary depending on the specific requirements of each client. Prices are determined individually for every service based on scope, complexity and customisation needs. A detailed quotation will be provided after understanding your exact requirements.

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