Sample letter of a formal request to the Bank Manager for vehicle loan

One of the most popular ways of acquiring capital for funding major expenditure such as starting a new business, buying a property and so on, is to apply for loan from a bank. However, the bank must be convinced that the loan applicant has the required credibility to pay back the loan in future. The bank also needs to know why the fund is required and how is it going to be used. Additionally, further relevant information also may be required to be provided to the bank as and when the bank requires it.  

Generally, a loan is given against a property so that the bank can have a guarantee in case the client fails to repay the loan. It is to added advantage if a reliable guarantor is also mentioned in the application who is ready to repay the loan in the unfortunate case of failure to pay off the loan amount.  

It is necessary to have first-hand information regarding the type of loan being sought such as the maximum loan amount, the duration of the loan, the interest etc. All the information can be obtained from the bank by approaching them. This is a simple request letter to a Bank Manager for applying for a home loan. The article addresses the question of properly presenting the request to the concerned person.

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Sample letter of a formal request to the Bank Manager for home loan 

To
The Bank Manager
Bank Name
Branch Name
Address of Bank

Sub: Application for home loan

Dear Sir/Madam,

                            I hold a savings account in your [Bank name, Branch name] which is [Bank Account Number]. I have a clean record as a customer for the last 8 years of our association and even my monthly salary of 6, 00,000 per annum from XYZ Company is drawn in favor of this account. A copy of the pay slip is attached here with for reference.

                                  I am planning to buy a car and would require a sum of 5 lakhs for the same which I propose to take as loan from your bank. Hence, I would request you to kindly process and grant my loan application. I have gone through the terms and conditions of the loan and I accept all the conditions including paying the monthly installments on time. I will be highly grateful for the financial assistance for the home loan.

                                 I am attaching the below mentioned enclosures for processing the loan would be very much happy to oblige any other formalities required by the bank. I would personally visit the bank branch and provide other necessary documents as and when required. In case, the bank requires any other clarification, I can be contacted at [mobile number] or by email [email address].

                               

                                This is for your kind information and necessary action.

                                                                                                  Yours faithfully,

                                                                                                   Your name

                                                                                                   Your address

                                                                                                   Your Contact No.

Date:
Place:

Enclosures:

1. ID proof

2. Address proof

3. Bank account statement (last 10 transactions)

4. Pay slip

5. Guarantor details

6. Other documents as required by bank

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