Credit Agreement Letter for Word

1

I hope you will find this letter in the best of your spirits. I am writing to give you an update on your case of credit, applied on 20th May 20xx. With pleasure, I am affirming that after a keen observation of your case, your credit has been approved for the amount of $ [x] on certain terms and conditions.

I am sharing the terms and conditions within this letter so that you may read them thoroughly and let us know if you will let us serve you. The terms and conditions are as follows:

  1. The approved amount for the credit is $ [X] and will be paid as per the convenience of the borrower via cash by hand or via bank transaction 
  2. The amount of credit used can be repaid in two-mode. The first mode is full payment. In this mode, no interest will be charged. The second mode is a minimum payment which would be 5 percent of the amount used. However, interest on the remaining amount will be charged by 0.1 percent per day. 
  3. A grace period of 14 days will be given to the lender, in case the borrower is not paying the credited amount. 

Kindly go through these clauses and let me know when we can sign the agreement so that we may proceed with your case further. In case of any query our helpline [x] is available 24*7. You may also reach me at my number [x]. We look forward to serving you soon. Waiting for your positive response.  

Regards, 

Credit agreement letter template

File: Word (.docx) Size: 13 KB

2

Thank you very much for reaching out. As per your credit request, your case had been forwarded two weeks back. I am writing with immense pleasure that your case has been approved on the following terms and conditions: 

  1. The lender will lend an amount of $ [x], which will be repaid by the borrower within [x] time. 
  2. In case the borrower fails to repay, the amount/property of the guarantee will not be returned
  3. The borrowed will return the amount of credit on a monthly basis. However, two balloon payments can also be made throughout the tenure of credit. 
  4. A grace period of 15 days will be given to the borrower to repay but a fine of $[X] will be charged per day. 
  5. In case of death of the borrower, the next in kin will be liable to pay the amount of credit. 

Kindly read these terms and let us know if you are interested to proceed further. In case of any query or confusion please do not hesitate to contact the undersigned. Also, you may reach us at our number [x] or via dropping an email on [x]. You may visit us too during our office hours. A few documents are missing from your file. I have attached the list of the documents you need to bring to the office. Kindly read it and visit us on 23rd May 20xx at 2:00 pm. 

I look forward to hearing from you soon. Thanking you in anticipation. 

Regards, 

Credit agreement letter template

File: Word (.docx) Size: 13 KB