If you are planning to renovate your home and need additional funds to cover the expenses, you may consider requesting an overdraft from your bank. An overdraft can provide you with temporary access to extra funds, allowing you to pay for the renovation work as it progresses. In your request to the bank, it's important to provide details about the renovation project, including the estimated cost, timeline, and any potential sources of repayment. This is a sample request letter to bank requesting overdraft due to home renovation. The letter can be modified according to need and preference.
To
The Bank Manager
Bank Name
Bank Address
Subject: Request for overdraft facility
Dear Sir/Madam,
I am writing to request an overdraft facility on my account due to home renovation expenses. As you are aware, my family and I have been planning to renovate our home for some time now. Unfortunately, the expenses for the renovation have exceeded our initial budget, and we are in need of additional funds.
We would like to request an overdraft facility for a period of six months, starting from the first week of March. We require an amount of two lakh to cover the additional expenses for the renovation. We assure you that we will make every effort to repay the overdraft facility as soon as possible.
We have been a loyal customer of your bank for many years and have always maintained a good credit record. We hope that you will consider our request for an overdraft facility, and we look forward to hearing from you soon.
Thank you for
your time and consideration.
Yours
truly,
Your name
Your address
Date:
Place:
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