From
(Bank Name)
(Address)
To
(Name)
(Address)
Dear Sir,
ADVERTISEMENTS:
Re.: Asking for Interest due
This is to draw your attention that the quarterly interest on your Demand loan No. ____________ dated ____________ for ____________ (Amount) from ____________ (Date) To ____________ (Date). Amounting to ____________ (Amount) has fallen due for payment and has been debited to your loan account. As advance interest payment is a precondition to the granting of loan, we have debited your account to that extent.
Please arrange for the payment of this sum of ____________ (Amount) without delay. Please also note that delay on your part will force us to charge compound interest on the remaining balance of your loan in accordance with the terms of agreement in respect of the loan.
Yours faithfully,
(Your Name)
Branch Manager
