When drafting a letter to request prepayment of a loan, clarity and politeness are essential. Begin by addressing the manager of the bank and clearly state your intention to prepay the loan amount. Provide necessary details such as your loan account number, type of loan, current outstanding amount, and proposed prepayment amount and date. Politely request guidance on the prepayment procedure and offer your contact information for further assistance.
Sample Request Letter for Prepayment of Loan
To,
The Manager,
__________ (Bank Name),
__________ (Branch Address)
Date: __/__/____ (Date),
Subject: Prepayment of loan ________ (Loan Number)
Sir/ Madam,
I would like to inform you that my name is _________ (Name) and I am a resident of ________ (Residential Address). I hold a loan account in your branch having account number ___________ (Loan Account number). I am currently holding a loan ________ (Type of loan) of _______ (Amount) with ________ (Number of EMIs) EMIs and ________ (Tenor) tenor.
I am writing this letter to inform you that I am looking forward to the prepayment of the _______ (Amount) amount of my loan and I am ready to make the above said payment of amount i.e. ________ (Prepayment loan amount) on __/__/____ (Date).
Therefore, I request you to kindly guide me through the procedure and I shall be highly obliged for your kind assistance. In case of any queries, you may contact me at __________ (Contact number).
Thanking you,
_________ (Signature)
_________ (Your name),
_________ (Contact number)
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Sandeep Bhandari