Application Letter to Bank for Closure of Gold Loan Account

Generally, if you have made all necessary payments on your gold loan account, then the lending company would close the account on its own after the payment of the last installment and would intimate you accordingly.

In case, your gold loan account is not closed after all the payments, then you can submit a written request letter or an application form or make an online application for closure of the loan and for release of your gold ornaments pledged with them.

Here are samples of application letters to the bank for closure or partial payment for a gold loan account.

TEMPLATE #1

(Letter for Closure of Gold Loan Account)

Date: _________

To,

The Branch Manager

_______ Bank

Gold Loans Department

____ Branch, (Address)

Sub: Closure of my Gold Loan account number __________.

Dear Sir/Madam,

I would like to kindly request you to close my gold loan account bearing number __________. I have already made payments of all the installments as necessary to be paid for the said loan account. The last installment was due on (Date) and paid on (Date). There are no further payments to be made.

I further request you to kindly release my gold jewellery pledged with your bank for granting the loan. I am grateful for your financial help in times of need.

Therefore, your goodself is kindly requested to approve the closure of the account and arrange to release the gold jewellery to me.

Thanking you,

Yours faithfully,

  (Signature)

(Name of the Borrower)

Mob. _________

TEMPLATE #2

(Request Letter for Partial Payment)

Date: _________

To,

The Branch Manager

_______ Bank Ltd

Gold Loans Department

____ Branch, (Address)

Sub: Request for Partial Payment on my Gold Loan.

Dear Sir/Madam,

With respect to the captioned subject, I would like to make a partial payment on my Gold loan account to reduce my installment burden. Kindly note the following details:

Loan account number: _________.

Partial payment amount: _________.

Payment by Cheque no. _____ dated _____.

I understand such partial payments may be subject to certain charges. I am willing to pay necessary charges in this regard. 

Therefore, I request your goodself to kindly consider my application and approve the partial payment on my account.

Thanking you,

Yours faithfully,

  (Signature)

(Name of the Borrower)

Mob. _________