Sample Request Letter to Bank for Loan Installment for loan payment. You can also follow this Request letter to the bank manager for loan payment or loan settlement. You can modify these samples as per your requirement.
Sample Request Letter for Loan Settlement
To
The Branch Manager,
State Bank of India,
Qutub Minar Branch,
Delhi, India
Subject: Request for Debt settlement.
Greetings,
I am the owner of a Savings/Current Account, A/C No (Account Number), at your prestigious and well-known bank. Your bank issued me a car loan of Rs 50,00,000 with a payback period of 5 years and an interest rate of 13% per annum. I hate to inform you that, as a result of an accident, I am now unable to perform my work. I am the manager of the sales team at my business, and I am required to travel frequently; but, owing to my injury, I am unable to travel frequently. As a result, I am unable to return the existing loan amount in full, including interest. I am only able to pay the principal.
As a result, in light of my pitiful situation, you are kindly requested to pardon the interest or grant a feasible discount. I look forward to receiving my plea and providing me with the opportunity to clear the loan. I’ve included copies of my Passbook and the most recent EMI deposit receipt with my application for your convenience. I am looking for a prompt and good response from you, and I appreciate your time and attention.
Yours Sincerely,
Alvis Changan
Account Number
Short Request letter for Loan settlement
Subject: Loan Settlement Request
Dear [Lender’s Name],
I am writing to formally request the settlement of my loan account [Loan Account Number]. I have diligently been making payments on this loan, and I would like to discuss the process and terms for settling the remaining balance.
I kindly request your prompt attention to this matter and would appreciate your guidance on the necessary steps to initiate the loan settlement process. Please provide me with details regarding the outstanding balance, any accrued interest, and the preferred method of payment.
I am committed to resolving this financial obligation in a mutually agreeable manner and would welcome the opportunity to discuss the terms and finalize this settlement.
Thank you for your cooperation, and I look forward to your response.
Sincerely,
[Your Name]
[Your Contact Information]
Housing Loan Settlement to Bank
Subject: Housing Loan Settlement Request
[Your Name]
[Your Address]
[City, State, ZIP Code]
[Your Email Address]
[Bank Name]
[Bank Address] [City, State, ZIP Code]
Dear Sir/Madam,
I hope this letter finds you well. I am writing to request the settlement of my housing loan account with your bank. My loan account number is [Your Loan Account Number], and I would like to discuss the process and terms for settling the remaining balance.
I have been a loyal customer of [Bank Name] for [number of years] years and have consistently made on-time payments toward my housing loan. Due to changing circumstances, I now wish to settle the outstanding balance of the loan.
I kindly request your prompt attention to this matter and would appreciate your guidance on the necessary steps to initiate the housing loan settlement process. Please provide me with details regarding the current outstanding balance, any accrued interest, and the preferred method of payment.
Please consider this letter as a formal request for housing loan settlement, and I kindly request that you provide me with a written confirmation of the agreed-upon terms once the settlement process is complete.
Thank you for your cooperation, and I look forward to your prompt response.
Sincerely,
[Your Name]
[Your Signature] (if sending a hard copy)
Bank Loan Settlement Letter Sample
To,
The Branch Manager,
State Bank of India,
Qutub Minar Branch,
Delhi, India
Subject: Request for Debt Settlement.
Greetings Sir,
I currently have a Loan Account with your renowned bank, A/C No (Account Number). I had taken out a student loan to study for a Bachelor’s degree at Delhi University Institute from 2022 to 2026. After finishing the training, I began working for an organization, where I stayed for almost 8 months. But that position didn’t last long once the office project was finished. I’ve begun searching for a different job but haven’t been able to find one as of yet. I have been unable to settle the loan payment for the last three months given the financial situation. A few of your debt collection employees followed me and even came to my house to demand payment. It’s placing a lot of strain on me, on top of my fears about not having a job.
As a result, you are kindly requested to grant a potential reduction in light of my pitiful position. I am prepared to make a one-time payment to end the loan account. By September 2022, I will be able to pay off all of my debts in one lump sum. Even though arranging this money will be difficult, I still am willing to accomplish it. I’ve included copies of my Passbook and the most recent EMI deposit proof with my application for your convenience.
Thank you.
Yours Sincerely,
Akshay Kumar
Account Number