Banks need to keep a sincere record of payments of the loans. If there is has been a delay in payment from any of the customers then the bank must send them letters of reminder for late payment of loan. This letter will request them to make quick payments in order to avoid any kind of inconvenience. Here is a sample given below for your reference. You can use this template for writing a personalized formal letter mentioning all important information like the account no., the amount to be deposited and the duration within which the customer needs to act.
Format for Letter of Reminder for Late Payment of Loan
From:
The Manager,
National Bank,
1234 Park Avenue
New York
29 September, 2014
To,
Vicky Peterson
52 3rd Block
Richmond Street
New York
Dear Mr. Vicky,
Re : Overdue Payment A/C 343909 for Vehicle No : WFA 123
This is in context to remind you that your payment against the vehicle loan for the month of September is overdue. I request you to please remit the sum of $ 825.50 to us within 14 days from the date of the letter or we will have to initiate repossession procedures on the above vehicle.
Yours sincerely,
Adam More
Manager
Click Here To Download Sample Letter of Reminder for Late Payment of Loan
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good one