- Posted by writealetter
- On February 26, 2021
- 0 Comments
There are many circumstances when we require bank loans. You will have to communicate with the bank manager to avail loan. You can draft a convincing bank loan application letter to the manager stating the reasons. In India, residents need to avail bank loans to resolve their financial constraints or for planning new business ventures.
Here is how to write letters to bank manager for loan approval.
Business Loan Request Letter to Bank Manager
It is not difficult to draft a business loan request letter to the bank manager especially when you have convincing reasons and solid purpose to state. Simply furnish all important details and seek loan approval.
Loan applicant’s name
Subject: Business loan request for $ 60,000
I am a sincere customer of your deemed bank for several years. I manage multiple accounts in the bank with considerable amount of cash. I request you to grant me a loan of $ 60,000 to expand my boutique. My premier boutique has been generating high profits in the consecutive 5 years.
The success secret of my boutique is that we are creating and showcasing most stylish Indian and western wedding apparels. Most of our collections are inspired from International Fashion Shows.
Now I would like to expand my boutique, include a parlour for attending guests and also build more trial rooms. This will help us survive competition and improve customer satisfaction. With the loan allotted to me, I can easily flourish my business and generate high revenue. Details of my income and financial projection of my business for the next five years is attached herewith.
I have realized that your esteemed bank provides loans at lower interests than other banks. This has become the new reason for availing loan with your bank. I assure that all my loans premiums will be settled duly at the mentioned dates without delay. Kindly grant me the loan and oblige. Thank you for the attention to my loan application.
My contact details are mentioned below for all related enquiries.
List of enclosures (business plan and financial projections)
Letter to the bank for education loan
While planning for higher education, you may need to avail education loan. Draft letter to the bank for education loan. You can easily arrange funds and plan your higher studies abroad. In India, it is important for students to apply for educational loans and fund their higher studies.
Here is how to write an education bank loan application letter.
Bank branch name
Subject: Application for education loan
I am an account holder with your reputed bank since 5 years. I would like to apply for an educational loan of 5 lakh rupees for my higher education. I became aware of your educational loan policies and the low interests offered. I decided to consider the loan scheme that you offer over other banks. I am planning to complete M Sc. Psychology from Bangalore University. Since there are plenty of employment opportunities for this course, I will be able to repay the loan as per the required installments. Kindly grant me the loan and oblige.
Name of the applicant