Loan Liquidation Letter to Bank
Loan Liquidation Letter to Bank
February 1, 2060
[RECIPIENT'S NAME]
[BANK'S NAME]
[BANK'S ADDRESS]
Dear [RECIPIENT'S NAME],
I am writing about a loan that I currently hold under the account number [ACC/ LOAN NUMBER]. This correspondence serves as a formal notice of my intention to fully liquidate this credit balance before the predetermined schedule. My financial circumstances have shifted since the inception of the loan, and I am now in a position to conclude the payment, thereby releasing all the collateral and securities tied to the loan account.
My forthcoming action will also aim towards the termination of all future accrued interest charges and streamline my financial situation. I understand that this full payment may necessitate the implementation of prepayment clauses that were articulated in the loan agreement terms and conditions.
I request that your institution provide a detailed rundown of any potential early repayment penalties, adjuvant fees, or rebates that I should be attentive to. As I intend to make this payment promptly, I would be grateful if you could furnish me with an exact settlement figure as soon as possible, preferably within the next ten business days.
Thank you for your time and anticipate swift and positive feedback on this matter.
Sincerely,
[YOUR NAME]
