Q:

How do you write a standard application letter for a personal loan?

A:

Quick Answer

A standard application letter for a personal loan should include the reason for the loan, how and when you plan to pay the loan back, and a brief description of who you are. The tone and structure of a standard application letter should be professional and concise.

 Know More

Full Answer

  1. Write contact information

    The lender's name and address should be written in the right margin, followed by your name and address in the left. Begin the letter with a cordial greeting.

  2. Provide reasoning for the loan

    Lenders often require a specific purpose for the loan application. It is important that you consider this purpose before writing the letter, as it plays a large role in the lender's decision. He may want to make sure that the loan is not going to be used for any illegal activities. State the exact amount needed and why.

  3. Set a deadline to pay back the loan

    The lender often wants a committed date by which the loan will be repaid in full with interest. In the letter, provide the lender with your approximate disposable income to show you have the means to meet the deadline.

  4. Introduce yourself

    Finally, provide the lender with a brief description of yourself, such as positive characteristics, borrowing history, employment and academic achievements.

Learn more about Writing

Related Questions

  • Q:

    What should you write in an essay on personal responsibility?

    A:

    An essay on personal responsibility should include a working definition for this term, such as "the act of accepting accountability for one's actions," notes Questia.com. Another aspect of personal responsibility is understanding how one's action affects others. Providing examples of individuals taking personal responsibility may strengthen an essay.

    Full Answer >
    Filed Under:
  • Q:

    How do you write a promissory note for a personal loan?

    A:

    To write a promissory note for a personal loan, start with the borrower's details, following up with the lender's name and the terms of the loan, according to SampleNote.org. The signing of this note by the lender and the borrower completes the process and legalizes the document.

    Full Answer >
    Filed Under:
  • Q:

    How do you write a fee-waiver request letter?

    A:

    A fee-waiver request letter includes a detailed explanation of the reason for the request, which should be evidence of financial hardship. The explanation can include the writer's income, the family's income, if appropriate, and the writer's current living situation.

    Full Answer >
    Filed Under:
  • Q:

    How do you write a letter to apply for a loan?

    A:

    When writing a letter to apply for a personal loan, the applicant needs to list the purpose of the loan, when the loan will be paid back and a few personal details, according to eAge Tutor. The letter should be written in a professional matter.

    Full Answer >
    Filed Under:

Explore