Sample application letter to request the bank for extension 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