Letter to bank to give you holidays to pay instalments of loan

Letter to bank to give you holidays to pay instalments of loan

Sometimes, You take loan from bank to fulfil your needs. But if you failed to pay instalments of loan due to certain reasons then you can write this letter to the bank to give you a holiday to pay instalments of loan. Hope this letter will be beneficial for you.

Check our previous article “Letter to bank requesting for overdraft”

Letter to bank to give you holidays to pay instalments of loan

Ram Lal and sons,

Bara Bazaar,

Agra.

 

September 8, 20 …..

 

To

The Manager,

Punjab National Bank,

Agra.

 

Sir,

I regret to say that my firm has not been able to pay the last two instalments of loan taken from you by us. Yesterday we received a strongly worded notice from you that if we failed to pay the said instalments within one week, legal action would be taken against us.

In this connection, I wish to submit that a large part of our property was damaged by fire two months ago. Our business came to a stand still. We are trying hard to put our business on the rails once again. We are sure that we shall have normal business within the next three or four months. Thereafter, we shall also begin to earn a profit. We shall certainly be in a position to pay off all the instalments after that. Through this letter I want to request you humbly to give us a time of six months. We shall be able to clear the loan with interest. We are ready to pay 10% interest extra for the period of default.

I hope you will take a lenient View of our lapse under the circumstances.

 

Yours faithfully,

For Ram Lal & Sons


This is all about letter to bank to give you holidays to pay instalments of loan. By writing this letter to bank you can take some holidays to pay your loan.

If you have any question regarding this topic ask freely by commenting us and also share it with your friends.

Thank you


SharinG iS cariNG

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