Sample application letter to request the bank for extension and renewal of loan payment dates due to financial problems/loss etc. Format of request letter to send to bank for loan extension when you are not able to meet the deadline.
Application Letter for Loan Date Extension
Mr. Jackson Smith
Sir, I am a current user of your bank and I am running 4 different accounts with good flow. With the account details attached with this letter, it can be proved that I am a non-liable applicant for loan extension. As per the loan plan that I was provided with, there was a calamity because of which I would be unable to pay back the due amount in time. Therefore, grant me a 2 months extension so I can pay back the principal amount along with the interest of these 2 months as well. I would like to hear from you soon. Thank you for your consideration.
Application for Loan Extension
11 months back I took an interest free loan from Habib Bank Limited of 1 million. The time period to return the amount was one year. I have paid 80% of the amount back to the bank and the rest 20% of the amount is due 25th September 2018.
You can see my payment history, that I will have paid all the installments in time and did not miss the deadline even once. However this time due to some financial drawbacks, unfortunately I will not be able to meet the deadline of bank. I request you to please extend the load deadline and give me a month more so I can arrange the remaining amount.
I am really hoping for a positive response. You can contact me for further details of the loan. If you help me through this difficult time, I would be very grateful to you.
5th September 2018
Sample Letter Requesting Installment Payments
I took a loan from the company last month due to some financial crisis which I was facing. The amount of the loan was PKR 100 000 and the deadline to pay the amount back is on 1st January 2019. However, I was thinking that it would be difficult for me to collect the amount and more convenient if the money would be deducted directly from my salary every month. This way I will also not have to worry about saving up the amount.
Kindly consider my request and you may contact me for any further queries. I would be very grateful to you. Thank you.
Letter to Bank for Loan Date Extension
To the bank of Punjab,
I sent this letter to request for loan repayment extension. I took a loan of PKR 500 000 from the bank 6 months ago and the due date of pay the amount back is 1st January 2019. Till now I have paid back 80% of the amount of the loan, however at the moment I am going through some financial drawbacks and will not able to arrange the rest 20% by the deadline. Therefore, I request to please extend my deadline to the next month so that I can easily arrange the money.
I have attached the official documents which contacts the term of the loan and proof of the paid amount. You may contact me in case of any queries or clarification. Thank you.
Application for Loan Extension
With all due respect, I am writing this application to request a loan extension. I am aware that I have to pay the loan off in six months but my business has not been doing very well and my financial instability has hit its peak. I cannot afford the amount at the moment and need more time to collect the money. I request you to please provide me an extension and let me pay the loan off in a year rather than six months since it will be easier for me.
I hope you will acknowledge my situation and provide me with an extension.