The Roads and Transport Authority (RTA) has launched a new online system to simplify vehicle mortgage clearance for Dubai residents. This eliminates the need for physical visits to the RTA after paying off a car loan.
Faster and More Convenient Process
The system integrates with 89 banks, financial firms, and other lenders. Once a vehicle mortgage is fully settled, the lender updates the information online. The RTA then automatically notifies car owners via SMS or email, confirming their mortgage release.
This online approach replaces the previous system where residents had to repeatedly visit their banks to obtain clearance certificates. The new process streamlines the procedure and promotes the RTA’s goal of paperless transactions.
Mortgage Release Information and Documentation
While the RTA confirmation serves as proof of vehicle mortgage release, car owners can still request a physical certificate from their bank. This is especially recommended for those seeking a printed record for future reference. It’s important to note that banks typically provide clearance letters free of charge, whereas no-liability certificates may incur a fee ranging from Dh50 to Dh100.
RTA’s Commitment to Innovation
The online vehicle mortgage release system exemplifies the RTA’s ongoing efforts to leverage technology for improved efficiency and customer convenience. This initiative reflects their dedication to providing a seamless experience for Dubai residents.
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shanavas
August 13, 2020 at 8:36 pmStill we need to pay 100 dhs to initiate the electronic release letter leastwise in Emirates Islamic bank .I paid yesterday for myself..
Christopher Milbourne
August 16, 2020 at 10:30 amThanks for the tip
RESCO FURNITURE LLC
May 17, 2020 at 1:02 pmSUBJECT: VEHICLE MULKI RENEWAL
VEHICLE NUMBER : P 22428, PRIVATE, DUBAI
LOAN NUMBER: 20401658
T.C.NO. 50104263
COMPANY NAME: RESCO FURNITURE LLC
KINDLY PLEASE NOTE THAT WE HAD CLOSED THE LOAN FOR THIS VEHICLE BEFORE 1 YEAR( 11.05.2019 ). WE CAN’T RENEW THIS VEHICLE.SO, PLEASE CHECK THE STATUS AND GET BACK TO US ASAP OR CALL IN MOB: +971 555267080.
Christopher Milbourne
May 18, 2020 at 3:26 pmHi, this is not the right place to file a complaint, please call the RTA on 800 90 90 or visit their website to make a complaint.