Reply of Letter of a Consumer Loan by Bank Manager.
Place
Dt.
From
Manager,
Canara Bank,
Akola.
To
Ms. Sushmita Sen,
425, Raja Bagh.
Madam,
With reference to your letter dated … I wish to state the loan of Rs 30,000 may be sanctioned to you after the following formalities are completed by you. Please submit :
1. Estimate of the price of a scooter from the agency you wish to buy the scooter
2. A letter from your firm where you are employed committing that your salary will be deposited with us.
3. The loan amount will be deducted in a maximum of 36 installments covering three years.
The interest payable by you for a consumer loan will be 16 % per annum. The scooter will remain hypothecated to our bank till the loan is paid off completely.
With best wishes.
Ananta Swamy,
Manager.
