Loan Closure Letter Format: Are you searching for some of the Best Loan Closure Letter Format Sample In Word & Pdf? If Yes, then here you will get these types of application letter sample.
Let me tell you first, To close an account with the bank from which you took your loan, follow & read their terms and conditions very carefully.
Then write the account closure request letter using the application samples given below. Submit with it some documents (e.g. Personal Loan account number, approval letter, other documents issued by the bank) and Identity proof (e.g. Passport, PAN card, Aadhar).
If the bank has any pre-closure amount, then they have to pay it. Then in a few days, the bank will send you the loan completion document. After that all the process of closing your loan account will be completed.
The letter samples given below can be used for any bank without any problem. For example, you can use them in the case of HDFC personal loan closure letter format or SBI home loan closure letter format.
Personal Loan Closure Letter Format
The Branch Manager
Subject: Request Letter For Loan Closure.
I, ___________(Write Your Name) have a personal loan in my account on your _______ (Mention Your Bank Name) bank. I am writing this application letter to request you to close my personal loan account bearing account number ____________ (Mention Your Loan Account Number). The reason for closure is ___________ (Mention the reason for the closure correctly here).
I would like to inform you that I have paid all the EMI, loans. You can check your records. As per the requirements of the bank, I am attaching the applicable documents with this application.
Kindly consider this request letter and do the needful as soon as possible.
(Your Legal Name),
Car Loan Closure Letter Format
The Bank Manager
(Name of the Bank ),
Subject: Closure of the car loan account.
I am writing this letter to state that, I am holding an auto/vehicle/car loan bank account in your ________ (Mention Your Bank Branch Name) branch.
All details of my account are listed below:
Loan Account Holder Name:-
Loan Account Number:-
Loan Approved Amount:-
My PAN Number:-
Currently, I am willing to pay all my remaining amount and at the same time, I want to close my loan account.
So I request you, please let me know the detailed process and necessary documents for it. So that I can pay the remaining amount quickly and close the account.
Thank you in advance.
(Your Contact Details).
Home Loan Closure Letter Sample
The Branch Manager,
Subject: Application for home loan.
With due respect, I Beg to say that I hold a loan account & account no is ___________ [Mention Your Bank Account No] with your __________ [Mention Your Branch Name] branch. For some personal reason, I want to close my home loan account. (You can specify the reason for this closure)
Therefore, you are requested to kindly close my account. I will always be grateful to you. If any other information or documents is required for it, kindly contact me on my mobile number. my mobile number is ____________ (Mention Your mobile Number).
(Your Account Details),
Loan Closure Letter HDFC, SBI & ICICI
The Bank/Branch Manager,
Subject: Personal/Home/Car loan closure application letter.
With due respect, I ______ [Your name], I am writing this letter to request that I want to close my personal/home/car loan associated with loan account no _______ [Mention your loan account no].
Now, that I am already paid my total due & I request you to please go through the process of pre-closing my loan.
If you need any additional information or documents to complete this process, you can let me know at the phone number below.
Read Also: Application For Closing Bank Account Letter
Application For Closing Loan Account
The Branch Manager,
[Name of the Bank],
Subject: Loan account close application.
Most respectfully I beg to state that, I ______ [Your name], I am a saving account holder in your branch. Also, I have a loan account & my loan account number is ________ [Mention your account no]. I want to close my loan account for some personal reasons.
Therefore, I request you to close my loan account and provide me with all the original documents that I submitted when applying for the loan account.
We hope you’ll consider my request properly and begin the process of closing the account as soon as possible.
Thank you in advance.
Loan Closure Letter Format Sample In Word & PDF
FAQ’s On Loan Closure Letter Format Sample
How do you close a loan account?
You can easily close your loan account by following the steps given below –
- Visit the bank with all required documents.
- Write a loan closure letter to the bank manager OR, You may be required to fill a form.
- If there is a pre-closing amount, then pay it.
- Return your credit card. (If issue)
- Take acknowledgment paper from your bank.
- Then your loan account will be closed automatically in a few days.
Which bank is best for personal loan?
Below we have mentioned the names of some of the best banks in India for taking loans –
- State Bank of India (SBI): Interest Rate- 9.60% onwards, Loan Amount- Up to Rs. 20 lakh.
- ICICI Bank: Interest Rate- 11.25% onwards, Loan Amount- Up to Rs. 20 lakh.
- HDFC Bank: Interest Rate- 10.75% onwards, Loan Amount- Up to Rs. 40 lakh.
- Bajaj Finserv: Interest Rate- 12.99% onwards, Loan Amount- Up to Rs. 25 lakh.
- Axis Bank: Interest Rate- 12% onwards, Loan Amount- Up to Rs. 15 lakh.
Can we close HDFC loan online?
Unfortunately, you cannot close our HDFC Bank loan online, for this, you need to visit your nearest HDFC Bank and close the loan account. Also, you need to pay a certain amount to pre-close your loan.
Is there any pre-closure charges for home loan in SBI?
No, you don’t have to pay any penalty for pre-closing your SBI home loan on fixed and floating rate interest. However, you may have to go to any branch of SBI and fill up some forms for it.
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