Loan application is written when the applicant wants to seek monetary assistance in the form of loan mostly on a mortgage of property. Since it is a request, the letter should be written in a polite tone.
Use the following tips and samples to write an effective loan application letter to a bank manager or a company.
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Sample Loan Application Letter Writing Tips:
- As loan application letter is formal, the phrases and words should be chosen carefully.
- The language used should be simple and easy to understand
- The content of the letter should be short and straightforward.
Sample Loan Application Letter Template
__________ (Branch Manager’s name)
__________ (Branch address)
______________ (Your name)
______________ (Your address)
Date __________ (date of writing letter)
Dear Mr. /Ms_____________ (name of the concerned person),
I have a savings account in your bank with account no._________ for the past …………… years. I want to apply for a ……………..(type of loan) loan for ………………….(state purpose) .
If you can inform me about the details and formalities required for seeking the loan, I shall make all the arrangements and meet you at the earliest.
Looking forward to meeting you,
___________ (Your name)
Sample Loan Application Letter Sample, Email and Example/Format
3214 Breeze apts
The Branch Manager,
Station Road Branch,
30th September 2013
Subject: Loan application letter
I have a savings account in your bank for the last five years. I want to avail a home loan from your bank. I would like to know the details to seek a home loan from your bank.
I am a salaried employee, and I work for a central government organisation as a research scientist. You can verify my salary certificate and other details.
As the home loan interest rates have down, I would like to utilise this opportunity to buy a house. I have already booked a flat in Banjara Hills Hyderabad, and I need about Rs 35 lakhs as the loan amount. With my pay scale, I think I am eligible to seek a loan for this amount.
If you can send your representative to my place, we can discuss and finalise the loan. I shall keep all the documents ready so that there will not be a delay in processing the loan.
Looking forward to hearing from you,
A loan application letter is written to ask for financial credit service on some secured mortgage basis. As it is our requirement, the words should be so humble and sincere that the banker or the lender acquires total trust on the applicant. Loan application letter helps the loan applier to appeal for the various types of loans whichever he wishes to depend upon certain conditions.
I have sent this letter to you to explain my reasons behind requesting a loan modification on my mortgage. I wish to purchase a Mercedes Benz 300 Limousine costing Rs 56 lakhs. I am seeking an interest reduction down to 6.25% from my current 8.80%. I feel it is a fair percentage for you, and it is just within my means.
Without a reduction on the interest, I will not be able to afford the monthly payments. I have to choose between a loan modification and a foreclosure. I would far prefer the former, and you probably would as well. 6.25% is the most I will be able to manage, even if I cut all of my expenses out of the picture. Please consider my application seriously, and I hope to hear more from you on the matter.
Jimmie Verna Melendez.