B Annexure - Advices
IPA Initiate - Approval
Bank Name
Branch
Date:
Customer Name
Address Line 1
Address Line 2
State
City
Pin code
Dear Sir/Madam,
Sub: Your In-Principle Approval Request
Your request for an ‘In Principle Approval’ is being processed at our end.
We will shortly inform you the status of the application.
Please feel free to contact us if you need further clarification.
Yours faithfully,
<Manager Name>
<Bank Name>IPA Initiate - Rejection
Bank Name
Branch
Date:
Customer Name
Address Line 1
Address Line 2
State
City
Pin code
Dear Sir/Madam,
Sub: Rejection of In-Principle Approval Request
We regret to inform you that your request for an ‘In Principle Approval’ has been declined.
The reason for this decision is that you do not meet the required criteria.
Please feel free to contact us if you need further clarification.
Yours faithfully,
<Manager Name>
<Bank Name>IPA Offer Letter
Bank Name
Branch
Date:
Customer Name
Address Line 1
Address Line 2
State
City
Pin code
Dear Sir/Madam,
Sub: Your In-Principle Approval Request
Congratulations. We are pleased to confirm that Futura Bank has assessed your financial position
and determined that you qualify for the following loan.
Proposed Borrower/s: <Applicants>
Business Product: <Product Code> - <Product Name>
Approved In Principle Amount: <Currency Code> <Eligible Loan Amount>
Interest Rate on which IPA is offered: <IPA Rate> %
Loan Tenure: <Loan Tenure>
IPA Expiry Date: <IPA Expiry Date>
Although we have indicated that you qualify for the above loan, this letter is not an offer of finance.
Before we formally offer you finance and provide a loan agreement the following conditions will need
to be met to the satisfaction of the Bank.
- Mortgage of the property /house located at an address to be determined.
- If deemed necessary, <Bank Name> may require security assessment and inspection of the above mentioned property offered as security.
- The secured loan amount (including fee/charges) should not exceed our assessed value.
- You provide the Bank with confirmation of your income details.
- There is no change in the financial position from the date of this letter until you receive the loan agreement.
- Confirmation of all details provided upon making this application.
- You comply with KYC
- Acceptance of this offer on or before the IPA expiry date stated in this letter.
Yours faithfully, <Manager Name> <Bank Name>
IPA Rejection
Bank Name
Branch
Date:
Customer Name
Address Line 1
Address Line 2
State
City
Pin code
Dear Sir/Madam,
Sub: Rejection of In-Principle Approval Request
We regret to inform you that your request for an ‘In Principle Approval’ has been declined.
The reason for this decision is that you do not meet the required criteria.
Please feel free to contact us if you need further clarification.
Yours faithfully,
<Manager Name>
<Bank Name>