Sample letter of application to the Bank Manager for personal loan against fixed deposit

One requires funding/cash for various purposes throughout life. Cash at hand is not always possible to keep and such scenarios demand personal loan to be acquired in order to complete task/ projects beforehand. 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 personal 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 an asset such as fixed deposit so that the bank can have a guarantee in case the client fails to repay the loan. 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 personal loan. The article addresses the question of properly presenting the request to the concerned person. The letter can be modified according to need and preference.

To
The Bank Manager
Bank Name
Branch Name
Address of Bank

Sub: Application for personal loan against fixed deposit

Dear Sir/Madam,

                               I hold a savings account in your [Bank name, Branch name] bearing number [Bank Account Number]. I have a clean record as a customer for the last 8 years of our association. Moreover, I have a fixed deposit of Rs 6 lakh for a period of 5 years in your bank, details of which are given below.

Receipt no                   :

Date of maturity         :

Amount                       :

                               I would require a sum of 2 lakhs for the marriage of my daughter which I propose to take as personal loan from your bank against the above mentioned fixed deposit. 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 as personal loan.

                               I am attaching the below mentioned enclosures for processing the loan. I would be very much happy to oblige any other formalities required by the bank. 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. Other documents as required by bank