Application for Loan Extension or Renewal to Bank
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 the bank for loan extension when you cannot meet the deadline.
Request Lette for Loan Installament Extension
Respected Manager,
I took a loan of $10,000 from your bank, of which I have paid back $4500 so far. My monthly installment is $1350. But my financial situation is quite bad, due to which I am facing difficulty in paying installments.
I request you to kindly stop my installation for four months. And after that, I will start paying again. Because by then I will get the money. I will be grateful for your cooperation.
Sincerely Yours,
Your Name, ID
Application Letter for Loan Date Extension
Mr. Jackson Smith
Branch Manager
Barclays
London, UK
Sir, I am a current user of your bank and am running four different accounts with good flow. With the account details attached to this letter, it can be proved that I am a non-liable applicant for a 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 two-month extension, so I can pay back the principal amount and interest for these two months. I would like to hear from you soon. Thank you for your consideration.
Yours sincerely,
George Summer
London, UK
Application for Loan Extension
Respected Manager,
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 on (Date).
You can see in my payment history that I will have paid all the installments on 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 with the bank. I request you, please extend the loan 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. I would be very grateful if you could help me through this difficult time.
Best Regards,
Your name
Contact ______
(Date)
Sample Letter Requesting Installment Payments
Respected Manager,
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 (Date). However, I thought that it would be difficult for me to collect the amount, and it would be 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.
Best Regards,
Your Name
Employee
Letter to Bank for Loan Date Extension
To the bank of Punjab,
Dear Manager,
I am sending this letter to request for loan repayment extension. I took a loan of PKR 500 000 from the bank six months ago, and the due date to pay the amount back is 1st January (Date). Now I have paid back 80% of the amount of the loan; however, I am going through some financial drawbacks and will not be able to arrange the rest 20% by the deadline. Therefore, I request you 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.
Best Regards,
Your Name
Contact ________
Application for Loan Extension
Dear Sir,
With all due respect, I am writing this application to request a loan extension. I know 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.
Best Regards,
Your Name
