Loan Acceptance Letter
When you apply for a loan in a bank or any financial institute, it needs to be approved by the concerned authorities before you can use the facility. It should always be remembered that whether your loan application gets approved or rejected, you are being informed in a written form that mentions all the reasons pertaining to your approval or disapproval.
Hence, if you happen to be a loan approving authority in a financial institute then you should always be acquainted with writing loan acceptance letters. It is very much similar to other formal letters and just contains details about the loan such as the type of loan, amount of loan and payment terms involved. Besides, it normally starts up with confirmation of loan along with other guidelines for the customer.
If you want to know how to write a loan acceptance letter, scroll down and thoroughly check our templates and samples that will serve as a guide to help you write this letter.
Tips to write a Loan Acceptance Letter
- Write in detail about the reasons you need the loan
- Provide all necessary information
- Try to stick to a formal and professional tone
- Sum things up in not more than three paragraphs
- Be thankful
Instructions
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Sample of Loan Acceptance Letter
From:
Michael Williams
1472 Robinson Lane
Worthington OH 43175
March 27, 2012
To:
Jerome Thompson
1392 Garfield Road
Peoria IL 616024
Account number: 22537900180403
Reference number: 3215141272
Dear Jerome Thompson,
Subject: APPROVAL OF LOAN APPLICATION
In reference to your application number 3215141272 received on 15th March 2012, Easy Loans Corporation is pleased to inform you that your application for a Home loan of $300,000 has been approved. However, it will be confirmed upon completion of certain formalities from your part. According to the company’s terms and conditions, your first payment of $1200 is due 30 days after the disbursement of the loan amount. Please be informed that time period of paying back loan is 20 years and we charge 12% fixed interest rate for the entire term.
You are being advised to visit our branch office at 1472 Robinson Lane, Worthington OH 43175 anytime from 9am to 5pm. Kindly bring the following documents along with as you visit:
• 2 to 4 passport size photographs
• Copies of Salary Slips
• Last one year Bank Statement
• Proof of Identification and address
It is worth-mentioning here that all your documents will be verified before the check for the requested loan amount is handed over to you. If you have any queries or concerns, please feel free to contact (04) 23456789-100 from 9am to 6pm Monday to Friday.
Yours Faithfully,
Michael Williams
Manager Personal and Home Loans
Easy Loans Corporation -
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Template of Loan Acceptance Letter
(Your Name)
(Your Address)
(Your Phone Number)
(Your Email Address)
Date
(Name)
(Designation)
(Company’s Address)
(City & Zip Code)
Dear (Recipient’s Sir Name),
Subject: APPROVAL OF LOAN APPLICATION
In reference to your application number ____________ received on ____________, _____________________ is pleased to inform you that your application for a Home loan of __________ has been approved. However, it will be confirmed upon completion of certain formalities from your part. According to the company’s terms and conditions, your first payment of ________ is due ___days after the disbursement of the loan amount. Please be informed that time period of paying back loan is ___years and we charge ____ fixed interest rate for the entire term.
Yours Sincerely,
(Sender’s Signature)
(Sender’s Name)
(Sender’s Designation)
(Company’s Name)
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