When writing a request letter to a bank for the release of collateral security, it's crucial to clearly state the purpose of the letter, provide relevant details such as loan account number and payment history, and request the release of collateral security politely. Ensure to attach any necessary documents to support your request and express gratitude in advance for their cooperation.
Sample Request Letter for Release of Collateral Security
To,
The Branch Manager,
__________ (Bank Name),
__________ (Branch Address)
Date: __/__/____ (Date),
Subject: Request for release of collateral security
Respected Sir/ Madam,
I am ________ (name), and I do hold a loan account in your branch having account number ________ (mention loan account number).
I am most humbly writing this letter to inform you that I took a loan from your bank worth __________ (mention amount) for a __________ (type of loan account – home loan/term loan/business loan/any other) which was already paid and the final instalment was paid on __/__/____ (date). I have received the No Objection Certificate for the mentioned loan on __/__/____ (date).
In this regard, I would like to request you to kindly release the collateral security at the earliest. As per requirement, please find all relevant documents attached herewith.
Thanking you in advance.
Regards,
_________ (Signature)
_________ (Your name),
_________ (Contact number)
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