#personal loan agreement
Personal Loan Agreement Letter
Mrs. Rosy Reeds,
98, Clue Roads,
20 th September 2013
Subject: Personal Loan Agreement
Dear Mrs. Rosy,
On behalf of ABM Amro bank, I am writing this letter with regard to the personal loan that you aspire to get.
Your financial stability has been approved by the loan sanctioning authority of the bank as you are working in an advertising agency ‘Talent Hunt’ in Manhattan on the post of ‘Creative Head’ from past 16 years.
In our personal meeting, I found that you have marvellous creative ideas and undoubted efficiency to give a beautiful shape to your dreams. Your idea to open your own agency and taking it to the heights of success were very impressive.
Considering the above criteria, your loan application has been accepted by the bank and there is no obligation to give you the loan of $ 1, 00,000 as required by you. The bank will require some item for mortgage purpose as a guarantee for the borrowed amount. Your house situated at 10, Rolly Street, Manhattan, worth $14, 44,000, will be sufficient enough to act as mortgage for the loan being obtained by you. You are also required to submit your id proof, bank statements and the papers of the house that you want to mortgage.
The loan will bear a monthly interest of 10.1 % for the next ten years and shall be deducted on an equated monthly instalment basis from your bank account.
Hope to see you soon with all the above said requirements. For any other query, feel free to contact me.