____________________ [name of the recipient]
__________________ [designation of the recipient in the lending company]
___________________ [name of the lender organization]
_____________________________ [office address of the lender organization]
Dated: _______________ [dd/mm/yy format]
Subject: Letter for pay off request
Respected Mr./ Mrs. ___________________ [last name of the recipient],
I have a loan with your organization with loan number ___________________ which was taken on ______________ [date of taking the loan]. This is to inform you that I intend to make a pay off on the above loan and would request you to process the same.
I had taken this loan of an amount of _______________________ [original loan amount] for _____________________ [mention in details the purpose of taking the loan]. I have already paid ____________________ [amount already paid] and have an outstanding of ___________________ [total outstanding amount]. I want to make a pay off as ________________________ [mention in details the reason for making the pay off]. I also agree to pay the pay off fees which is an amount of __________________ [pay off fees].
I am enclosing the required documents along with the cheque that has the pay off amount. I would be grateful if you process the same and send me a receipt.
_______________________ [name of the borrower]