1. After paying off the loan, the lender may request the platform to issue a loan settlement certificate. The settlement certificate, as the name implies, is to prove that the lender has completely settled the arrears, which may be used when applying for other loans, such as mortgage.

2. The loan and repayment records of many credit products have been reported to the credit bureau, but the information in the report of the credit bureau is not updated in real time. When a lender applies for a mortgage, in order to reduce the risk, the bank may require the lender to settle the arrears in advance, and then give the loan.

3. After the repayment, the lender can only rely on the loan settlement certificate because the credit information has not been updated, and the role of the settlement certificate is reflected in the requirements of other lending institutions. If you don't need it in your life, you don't have to open a settlement certificate.