Subject: Request the payment of loan and interest on it.
Dear Ms/Mr. ____________
We will like to inform you that you have failed to pay last 5 instalments of interest on the loan taken by you. Also no payment has been made for the principal amount.
The details of loan are:
1. Loan no: ___________
2. Date of granting loan: ______
3. Amount : Rs __________
4. Period of loan: ____________
5. No of instalments of payment: __________
6. Net interest :Rs ____________
7. Total amount to be paid: ________
The amount has been long due and you have not responded to our earlier correspondences, which we consider as the breach of conduct on your behalf. Kindly know that you have obligations to pay the amount on time according to the documents signed by you at the time of obtaining loan. It’s with regret we inform you that if you don’t make payment in the near future, we might be forced to initiate legal action against you.
We request you to take payments at the earliest.
For any further information in this regard you can contact the manager at your nearest branch.