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2016 Paper - Letter by Bank Manager
2016 Paper - Letter by Bank Manager
15 lakhs
for buying a tractor. Grant the loan while listing the rules.
A B C,
Manager, Maharashtra Gramin Bank,
Arni – 445-103
Kisan Chavan,
51, Gurudev Colony,
Jawala
Hello,
This is in reference to your application of loan of Rs. 15 lakhs for buying a tractor
ahead of sowing season of kharif crops. After looking into your credit history the
bank has decided to grant you the required loan under farm mechanization plans of
Government of India.
The loan will be directly credited to your bank account with us and it will have
repayment period of 10 years. Terms and conditions of the loan will be as follow:
1. Rate of interest 6% per annum on simple interest basis
2. Subvention of 2% in case prompt half yearly payment
3. Grace period of 2 years above 10 years
Please reach out to bank branch in case you need any other help.
Thanking you,
ABC