Sample Letter of Intent for Personal Loan Application

I am writing to express my intent to apply for a personal loan from your esteemed institution. My name is [Your Name], and I am a [Your Occupation] residing at [Your Address]. I am seeking a personal loan of [$Amount] to [state the purpose of the loan, e.g., consolidate existing debt, finance a home renovation, cover medical expenses, etc.].

Purpose of the Loan
The primary reason for this loan application is to [detailed explanation of the purpose]. For instance, if you are seeking to consolidate debt, explain the types and amounts of debt you wish to consolidate and how this will improve your financial situation. If financing a renovation, describe the nature of the renovation and how it will increase the value of your property.

Financial Situation
I am currently employed at [Your Employer] as a [Your Position], where I earn an annual salary of [$Amount]. My monthly income is [$Amount], and my current monthly expenses include [briefly list major expenses]. I have been employed at my current job for [Number of Years/Months], and my employment status is stable.

Credit History
I have maintained a good credit history throughout my financial life. My current credit score is [Your Credit Score], and I have [Number of Credit Accounts] credit accounts in good standing. I have also managed to keep my credit utilization rate low and have no outstanding collections or bankruptcies.

Loan Terms
I am requesting a loan amount of [$Amount] with a repayment term of [Number of Months/Years]. Based on my calculations, the monthly payment would be approximately [$Estimated Payment], which is manageable within my current budget. I am confident in my ability to meet these payments promptly and in full.

Additional Information
I have attached all necessary documentation to support my loan application, including [list any attached documents, such as pay stubs, tax returns, or bank statements]. I am willing to provide any further information or documentation if required.

Thank you for considering my loan application. I am confident that with your support, I will be able to achieve my financial goals. Please do not hesitate to contact me if you require any additional information.

Sincerely,
[Your Name]
[Your Contact Information]