Agreement Letter for Loan Payment

You can apply for a loan simply by filling out the loan application letter of any specific bank. However, if the specific company asks you to write a letter, then you may have to come up with a formal letter that is persuasive enough to convince the bank to get the money you require for personal use, building a house or buying a car.

The bank is interested in knowing if you are creditworthy and whether you will be able to return the loan on time or not. The best possible way to impress the organization is to keep the letter simple, short, to the point and to put down the amount you want for the specific purpose.

If you want to know how to write an agreement letter for loan payment, we have provided a sample and a template for your use.

Tips for Writing an Agreement Letter for Loan Payment

  • Adopt a polite tone throughout the letter.
  • Give details related to your plans to use the loan amount.
  • Assure the bank of your ability to make repayments.
  • Attach all relevant documents, such as bank statements, credit card bills etc.
  • You should also inform your HR department in case the bank contacts them for inquiry.

Instructions

  • 1

    Sample of an Agreement Letter for Loan Payment #1


    November 23, 2010

    Clare Goodley
    1145 North East Street,
    Los Angeles, California
    United States

    Princess Laura
    Manager- Credit Division
    Sky Bank Limited
    929 South Mint Street,
    Los Angeles, California,
    United States

    Dear Ms. Laura,

    Following my visit to the Sky Bank Limited yesterday, I would like to thank you for considering my documents for loan payment. I have been among the loyal customers of your bank for the last three years. I am planning to buy a commercial property and I will utilize the loan for it. I have gone through each of the terms and conditions of the loan payment and I agree with all of them.

    If I will be able to get this amount from your company, it will help me in buying the commercial property as well as furnishing it. If you kindly sanction the amount, I will be thankful to you and will be in a position of buying the commercial property that I have selected.

    With your financial support, I can start my own new business. I will be paying all the installments on the first of every month. I have a good credit history, so getting a loan will not be a problem as there are no problems of debts. The photocopies of my salary slips, social security number card, commercial property agreement, and business plan are attached to this letter for your perusal.

    If you have any queries, you can contact me on 0091 123 345 or email me at Clare.Goodley000@hotmail.com.

    Looking forward to your kind response.

    Sincerely,

    Clare Goodley

  • 2

    Agreement Letter for Loan Payment Sample #2


    April 21, 2008

    Lionel Richard
    Loan Department,
    Cactus Bank Limited,
    3239, Truner Lane,
    Kansas City, Missouri 64105

    Paulson Mike,
    5482, Ipolet Road,
    Gratot, MP 549

    Dear Sir,

    As per our telephonic conversation, I am writing an agreement letter for the loan payment that I propose to take from Cactus Bank Limited. I need the loan to buy an apartment for my family.

    I have thoroughly checked the available options and have decided to get the loan from your bank. In addition to that, according to my calculations, I will be able to pay off the loan faster as it a short-term loan.

    I am currently employed as an administrator at SoGood Food Industries. I have been working for this prestigious company for the past 10 years. Feel free to contact the company and verify that I work there as a permanent employee. You can contact the HR Department of the organization at 001819 626 23.

    I have attached the copies of bank statements for the previous 3 months as well as an income and expenditure breakdown, which shows how much I have left over each month. I plan to use some of this money for paying all the installments on time.

    I will be obliged if you could sanction the loan of $9000 for a period of five years. I agree with all the terms and conditions of your bank. The signed copies of the agreement are attached to the letter.

    I am waiting for a positive response, which will help me in fulfilling my dream of owning my own apartment.

    Yours Sincerely

    Lionel Richard

  • 3

    Template of an Agreement Letter for Loan Payment


    (Date)

    (Debtor’s Name)
    (Debtor’s Address)

    (Creditor’s Name)
    (Creditor’s Organization)
    (Creditor’s Address)

    Dear (Mr. / Ms. / Mrs. Creditor’s Name),

    Following my visit to the (Company’s Name) yesterday, I am writing to request for a personal loan of $(Amount of Loan) from your bank. Having done business with you over the last 3 years, I am satisfied with your services and confident in your ability to deliver. I have gone through the terms of the agreement and agree to them.

    If you grant me the loan, I plan to invest it into a desirable commercial property in my locality. I will also be furnishing the property completely and the loan amount should suffice for my needs.

    Essentially, the loan will allow me to start my own business, which has been a dream of mine. As for the repayment of the loan, I am sure that your bank officers can verify my credibility and good standing.

    Furthermore, I am attaching photocopies of my salary slips, social security number card, commercial property agreement and the business plan for your perusal.

    If you have any further questions feel free to contact me on (Debtor’s Contact Number) or email me at (Debtor’s E-mail Address).

    Looking ahead for your kind response.

    Sincerely,

    (Debtor’s Signature)

    (Debtor’s Name)

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