Date: __/__/____ (Date)
___________ (Bank Address)
Subject: Letter of Appropriation
With reference to the ___________ (loan details) issued by your bank in my name i.e. _____________ (Your Name) for the purpose of ___________ (loan purpose). I give you a lien of:
- My _________ (Collateral details – Term Deposit/Property/Any other) with receipt ___________ (receipt number) issued by ___________ (issuing authority) amounting __________ (amount) handed over to you duly discharged by me.
I hereby authorize the bank __________ (bank name) to utilize the above said collateral for reimbursement of all unpaid amount in case ______ (failure of repayment /any other) i.e. payment for principal amount, interest levied, costs and charges, and all other expenses in reference with Loan account number _____________ (loan account number).
___________ (Your Name)
___________ (Contact Number)