Paying off the final EMI of your home loan is a moment of immense relief, especially after years of consistent repayment. Once your home loan is fully repaid, the next step is to collect your original property documents from the bank’s Retail Asset Central Processing Centre (RACPC). Here's how to do that, especially in cases where one of the joint owners (such as your spouse) is unable to be physically present.

STEP 1: INITIATE LOAN CLOSURE After the final EMI is paid:

Log in to your net banking portal and request to close your loan account.
Send an email to the bank from your registered email ID, requesting the collection of your original property documents. Be sure to mention your loan account number clearly.
In response, the bank will send you a scanned copy of the loan closure certificate.

Note: If the bank does not respond to your email, you must visit the branch in person to obtain the loan closure certificate. The loan closure certificate looks like the image below

STEP 2: APPOINTMENT FOR DOCUMENT COLLECTION AT RACPC Once the loan is officially closed, the bank will schedule an appointment for you at the RACPC to collect your property documents. This appointment is typically scheduled within 15 working days from the date the loan closure certificate is issued. By default, all co-applicants listed on the loan must be physically present at RACPC during the appointment. If one of the co-applicants such as your spouse is unable to attend, they must authorize you through a Power of Attorney (POA). GRANTING POWER OF ATTORNEY (POA) If your wife (or any co-owner) is unable to be present, she can authorize you via a POA to collect the documents on her behalf. Steps to Execute the POA:

Draft the Power of Attorney – Use the suggested draft format (shared below).
Stamp Paper – Purchase a Rs.500 non-judicial stamp paper.
Print the Draft – Print the POA content onto the stamp paper.
Execution – Your wife must sign the POA and get it attested by a Notary Public near her place of residence.

A sample draft of the Power of Attorney is provided below for reference.

STEP 3: VISIT RACPC ON THE APPOINTMENT DATE On the scheduled date, carry the following documents to the RACPC:

Original Loan Closure Certificate issued by the bank.
Power of Attorney executed by your wife (if she is not present).
Self-attested ID Proofs of both yourself and your wife.

Documents You Will Receive from RACPC:

Original Property Documents (e.g., registered sale deed, agreement of sale, etc.).
Reconveyance Deed and Exemption Certificate.
A document acknowledgment receipt, which you must sign at the time of collection. Refer to the below acknowledgement

IMPORTANT NOTES ON RECONVEYANCE DEED & EXEMPTION CERTIFICATE

The Reconveyance Deed issued by the RACPC must clearly state that you are representing your wife.

For instance, in the example below, Mr. Bittu is noted as representing his wife Mrs. Silpha.

The Exemption Certificate confirms that the bank is exempt from appearing in person at the sub-registrar’s office for the purpose of the reconveyance deed registration.

STEP 4: REGISTER THE RECONVEYANCE DEED Carry the following documents to the sub-registrar’s office:

The Reconveyance Deed.
The Exemption Certificate.

Complete the registration process to officially remove the mortgage lien from the property records. This final step legally confirms that your property is now free of encumbrance.

NEED ASSISTANCE? We provide end-to-end support for property document collection, Power of Attorney, and registration of reconveyance deeds.

Email: pgnproperties@gmail.com
WhatsApp: +91-97424-79020

FAQs on Collecting Property Documents from RACPC When One Joint Owner Cannot Be Present

What is RACPC in banks?

RACPC stands for Retail Asset Central Processing Centre, a centralized branch of banks (such as SBI) that handles post-loan services, including the safe custody and release of original property documents after a home loan closure.

How do I collect my property documents after loan closure?

After paying your final EMI, you must:

Close the loan account through internet banking.
Request a loan closure certificate via email or in person.
Attend the appointment scheduled by RACPC to collect your original documents.

Is it mandatory for all joint owners to be present at RACPC?

Yes, all loan co-applicants (joint owners) are generally required to be present at RACPC for property document collection. If one co-owner cannot attend, they can authorize another co-owner using a Power of Attorney (POA).

What is the process for giving Power of Attorney (POA) for RACPC?

To grant a POA:

Draft the POA on a Rs.500 non-judicial stamp paper.
Have it signed by the absent co-owner (e.g., your spouse).
Get it attested by a Notary Public. This POA authorizes you to represent the co-owner at RACPC and collect documents on their behalf.

What documents should I carry to RACPC for collection?

You must carry:

Loan closure certificate issued by the bank.
Power of Attorney (if applicable).
Self-attested ID proofs of both you and your co-owner(s).

What documents will I receive from RACPC after loan closure?

The bank will hand over:
Original property documents (such as sale deed, agreement of sale, etc.).
Reconveyance Deed.
Exemption Certificate. You will also sign an acknowledgment receipt for collection.

What is a Reconveyance Deed?

A Reconveyance Deed is a legal document executed by the bank confirming that your home loan has been fully repaid and that the mortgage on your property is released.

What is the Exemption Certificate?

The Exemption Certificate states that the bank is not required to personally appear at the sub-registrar’s office for reconveyance deed registration, making the process faster and simpler for you.

Do I need to register the Reconveyance Deed?

Yes. After receiving it from RACPC, you must take the Reconveyance Deed and Exemption Certificate to the sub-registrar’s office to register the reconveyance deed and remove the mortgage lien from property records.

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