Letter to Bank for Disbursement of Housing or Educational Loan

After sanctioning of your educational or home loan by the bank authority, you will have to submit a disbursement request form with the bank or a letter requesting the bank to disburse the sanctioned amount in favor of the person/organisation as mentioned in the form/letter.

Most of the banks have their own prescribed disbursement request form which you just have to fill in with all the necessary details and submit it at the branch office. Hence, contact your bank and get the form for submission.

Or else you can prepare a letter on your own and provide all required information in it for this purpose.

Here is a template of such a disbursement request letter to the bank.

SAMPLE

From

(Name of the Applicant)

(Name of the Co-applicant)

(Address)

To

The Manager

.............. Bank Limited

.............. Branch

Sub: Request for Disbursement of my Education/ Home Loan account no. ........................

Dear Sir/Madam,

I/We have been sanctioned an Education/ Home loan by your bank for pursuing the Education course/ purchase of the house/flat.

I/We request you to kindly disburse the amount as per below details.

Name of the Applicant: .............................

Name of the Co-applicant: .............................

Loan Account Number: .............................

Sanctioned amount (in figures): .............................

Intended Date for Disbursement (DD/MM/YYYY): .............................

I/We request you to kindly disburse the amount as per the details given below:

Sl. No.	Mode (Cheque/  DD/ RTGS)	In favour of (Payee)	Payable at	Bank	Type of Account (Savings/ Current)	Account Number	IFSC Code (For e-payment)	Amount to be disbursed (in figures)	Amount to be disbursed (in words)
Total

I/We declare that in relation to the aforesaid disbursement, I/we have exercised due care and have conducted requisite due diligence of the property i.e. house or flat being purchased / the educational institution.

I/We understand that the bank will not be responsible for the title of the property being purchased against the loan / the genuineness of the educational institution where I/we will pursue our studies.

I/We shall hold harmless and indemnify the bank against any claims, liabilities, loss, court costs and reasonable counsel fees caused to it as a result of acting on the above disbursement and the declaration made by us herein.

Kindly do the needful and oblige.

Yours faithfully,

  (signature)

(Applicant/Co-applicant)

  (signature)

(Applicant/Co-applicant)

Date: .....................

Place: ....................