Application Letter for Loan by a Cooperative Society Member

A member of a co-operative society may apply for a loan from the society to meet his urgent need for money for marriage, health treatment, higher education, etc.

You have to make a written application to the society along with supporting documents. Please mention the genuine reason behind the loan application i.e. the purpose for which the loan amount will be utilized.

Here is a format of a loan application from a member to his society. Please add all necessary details in the application before submission. 

TEMPLATE

Date: ________

To

The Secretary

____________ Co-operative Society

(Address)

Sub.: Application for a loan to meet urgent needs.

Respected Madam/Sir,

I, (Name of the Member), a member of the ____________ Society, beg to apply for a loan of Rs. ________ (Rupees _____________________ only) subject to the Bye-laws of the Society.

I furnish hereunder a detailed statement of my personal details for your kind information and necessary action.

i) Name: ______________, Date of Birth: ________.

ii) Father's Name: ________________.

iii) Present and permanent addresses: ______________.

iv) Occupation: ___________.

v) Monthly income: _______.

vi) No. of dependents: ____.

vii) Existing loan(s): ________.

I agree to repay the loan together with an interest up to ___% per annum as applicable in ____ equal installments each month. The purpose for which the loan amount will be utilized is ___________________.

I undertake to abide by all terms and conditions prescribed by the Society and its bye-laws including any amendments thereto from time to time with respect to such loans.

I am aware that any breach of the terms and conditions stipulated or any misutilisation of the amount of the loan will attract suitable measures under the laws prevailing in the country for the Societies, and shall render myself liable for any type of action as per articles of association of the Society.

I hereby solemnly affirm and declare that the information given hereinabove is true to the best of my knowledge. If any of them is found to be false, the Society may take such action against me as it may deem fit.

Thanking you,

Yours faithfully,

    (Signature)

Name: _____________

Address: _____________

Phone No. _________

Enclosures:

1. (Name of the Document).

2. (Name of the Document).