Many of us have taken loans from bank but sometimes we are unable to repay them on time because of various reasons. In such a scenario, intimating the bank of the same in a formal way by writing application letter for loan date extension is the right thing to do. With a request letter for extension of payment, you are expressing you clear intensions and you are requesting some more time. You can submit a loan extension request letter to avoid any charges for late payment as well.
In this post, we bring a formal sample application to request for loan extension. Use the letter to bank for loan date extension to create a customized letter that states you condition to the bank in a professional manner.
Sample Application Letter to Request for Loan Date Extension
78, Giridhar Apartments,
Date: December 3rd, 2019
The Bank Manager
Sub: Request for Loan Date Extension
I hold a savings account with your prestigious bank at your Karol Bagh Branch, bearing account number 011/59596. I also have an auto loan running with your bank of amount Rs.5,00,000 with loan account number 05/78946. As per the terms of the loan, on 5th of every month, an amount of Rs. 15,000 is deducted from my account.
I would like to bring to your notice that due to the delay in my salary for the last month, I do not have enough balance in my account to honour the payment. My salary will be credited to my account on December 10th, 2019 and after that my account will have enough balance to pay the instalment for this month.
I request you to please consider my situation and accept this application for loan date extension for this month. I understand that delay in paying installments against loan attracts charges and therefore, I request you to please waive off these charges and have the instalment amount debited on the 10th of this month, instead of 5th.
I have a long association with your bank and I have always been prompt with my payments. It is just for this time that I request you to please allow me the date extension for loan based on my account history.
Thanking you in anticipation for considering my request.