When writing a request letter to a bank for early settlement of a loan, it's important to maintain clarity, politeness, and include all necessary details. Clearly state your intention to settle the loan early, provide relevant account details, specify the amount pending, and request information on any benefits for early payment. Express appreciation for their assistance and provide contact information for further communication.
Sample Letter to Bank for Early Settlement of Loan
To,
The Manager,
__________ (Bank Name),
__________ (Branch Address)
Date: __/__/____ (Date),
Subject: Early settlement of loan ________ (Loan Number)
Respected Sir/ Madam,
I would like to inform you that I am _________ (Name) and I do hold a loan account in your branch having account number ___________ (Loan Account number).
I am currently holding a ________ (Type of loan – home loan/ personal loan/any other) loan amounting _______ (Amount) in your branch. Respected, this loan was supposed to be repaid in ______ (Number of installments) and the tenor of the loan is ________ (Tenor), and the loan end date is ______ (loan end date).
I am writing this letter to inform you that I am willing to make a payment of the pending amount of the loan and make a full and final settlement in order to close the loan. As per records, a sum amount of _______ (Amount) is pending. I am ready to pay the amount. Kindly consider informing me about the available benefits for the early payment of the mentioned loan.
I request you to kindly guide me through the procedure and I look forward to hearing back from you. You may contact me at __________ (Contact number).
Thanking you,
_________ (Signature)
_________ (Your name),
_________ (Contact number)
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Sandeep Bhandari
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