Are you in the process of applying for a loan? In order to ensure that your loan application is approved, it’s important to provide an accurate and comprehensive document outlining how the funds will be used. This document is known as an end use letter and serves as proof that any loan money will be put toward specific investments or activities outlined in this letter. Fortunately, understanding what type of information should be included in an end use letter doesn't have to be a daunting task. By following our guide on the format for creating your own end use letter you can make sure you're equipped with everything necessary to apply for financial aid successfully. Read on as we discuss what components must go into this form and why these details are so important!
| Question | Answer |
|---|---|
| Form Name | Loan End Use Letter Format Form |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | end use letter for loan, end use certificate format for bank, end use certificate for bank loan, end use letter format for bank |
End Use Letter Format
(A) Format for end use letter from the customer HEL
(Date)
Dear Sirs,
Sub: Application for Loan Facility for Ancillary Purpose.
I, _______________________________________________ refer to the Application No. _______ dated
________________ submitted by me to ICICI Bank Limited for availing of a Loan Facility (the
Facility) from ICICI Bank.
The said Facility is for the purpose of:
Education
Business
Marriage
Purchase / Improvement of property
Medical treatment
Agricultural Activities
Allied Activities
Specify:_______________________________________________
Other personal need
If for other personal need, specify: _____________________________________________.
I also declare that funds under the facility will not be used towards purchase of gold in any form, including primary gold, gold bullion, gold jewellery, gold coins, units of gold Exchange Traded Funds (ETF) and units of gold Mutual Funds, etc.
I hereby represent, warrant and confirm that the aforesaid purpose is a valid purpose and also agree and undertake to utilize the Facility only for the above mentioned purpose and that the Facility shall not be used for any illegal and / or antisocial and / or speculative purposes including but not limited to participation in stock markets / IPOs / land purchase.
I further agree, confirm and undertake that the purpose of use of funds under the Facility shall not be changed in any manner during the tenor of the Facility; or that such change in purpose shall take place only with the prior written permission of ICICI Bank.
I hereby agree and confirm that the Income Tax benefits for a housing loan under the provisions of Income Tax Act, 1961 will not be available to me in respect of the Facility for the ancillary purpose(s).
I agree that any breach or default in complying with all or any of the aforesaid undertaking(s) will constitute an event of default under the Transaction Documents.
Thanking you,
Yours sincerely,
ApplicantCo-applicant
(B) Format for end use Letter from the customer for Top Up
(Date)
Dear Sirs,
Sub: Application for Loan Facility for Ancillary Purpose.
I, _______________________________________________ refer to the Application No. _______ dated
________________ submitted by me to ICICI Bank Limited , hereinafter referred to as “ ICICI Bank”
(which expression shall unless it be repugnant to the subject or context thereof, include its successors and assigns) for availing of a Loan Facility (the Facility)from ICICI Bank.
The said Facility is for the purpose of:
Education
Business
Marriage
Purchase / Improvement of property
Medical treatment
Agricultural Activities
Allied Activities
Specify: __________________________________________
Other personal need
If for other personal need, specify: _____________________________________________.
I also declare that funds under the facility will not be used towards purchase of gold in any form, including primary gold, gold bullion, gold jewellery, gold coins, units of gold Exchange Traded Funds (ETF) and units of gold Mutual Funds, etc.
I hereby represent, warrant and confirm that the aforesaid purpose is a valid purpose and also agree and undertake to utilize the loan only for the above mentioned purpose and that the loan shall not be used for any illegal and / or antisocial and / or speculative purposes including but not limited to participation in stock markets / IPOs / land purchase.
I further agree, confirm and undertake that the purpose of use of funds under the Facility shall not be changed in any manner during the tenor of the Facility; or that such change in purpose shall take place only with the prior written permission of ICICI Bank.
I hereby agree and confirm that the Income Tax benefits for a housing loan under the provisions of Income Tax Act, 1961 will not be available to me in respect of the Facility for the ancillary purpose(s).
I agree that any breach or default in complying with all or any of the aforesaid undertaking(s) will constitute an event of default under the Transaction Documents.
Thanking you,
Yours sincerely,
ApplicantCo-applicant