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Subash2008 Posted 13 years ago
Letter Writing

Loan Application Letter

I humbly request your time to check the below letter for any mistakes. Kindly have a look at it.

Dear Sir,

Good day,

I am an existing NRI A/C holder in your bank with A/C no. . I would like to apply for a loan of amount $50000.
I need this loan to close my current loan at XXX bank of amount $20000, which I had taken against my property. The other $30000 for renewing my house. Bank can take my property as guarantee by closing my current loan at XXX bank.

So be kind enough to grant me a sum of $50000 as a loan through(from) my NRI A/C.

I look forward to your reply.

yours sincerely,
AAA
  

Top answer

Dear Subash Your letter is very good, but for a loan of this size I think you need to telephone or write a letter to arrange a meeting with the bank's loans officer to discuss it. In the current economic climate, banks need to know all kinds of details before they will lend money, especially a substantial sum. For example, the bank will need information about the existing loan, the value of the property, the type of renovations you intend to make, and most importantly whether you are in employment and are able to repay the loan.

  • Dear Subash Your letter is very good, but for a loan of this size I think you need to telephone or write a letter to arrange a meeting with the bank's loans officer to discuss it.
  • In the current economic climate, banks need to know all kinds of details before they will lend money, especially a substantial sum.
  • For example, the bank will need information about the existing loan, the value of the property, the type of renovations you intend to make, and most importantly whether you are in employment and are able to repay the loan.
  • Best wishes with your application Mo
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4 Answers
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Dear Subash
Your letter is very good, but for a loan of this size I think you need to telephone or write a letter to arrange a meeting with the bank's loans officer to discuss it.
In the current economic climate, banks need to know all kinds of details before they will lend money, especially a substantial sum. For example, the bank will need information about the existing loan, the value o
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Thank you Mo for the reply and I value your time. I need your kind help to check for any grammatical errors on the above letter.

This is my first approach and I am going to meet the bank manager directly. Is it ok to add the below sentence to the letter?

I am seeking your convenient time to meet you directly to discuss further.

Thanking you
Subash.S
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Hi Subash, I would make some changes as follows, and add a specific request for a meeting at the end.

--------------------------------------------------------------------------------
Dear Sir,
Good day, [Delete this, as it is not needed]
I am an existing NRI A/C holder in your bank with A/C no.. I would like to appl
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Noted. Thank you for your kind reply.

Subash.S

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