An education loan programme statement is the one, which is drafted by the bank and sent to the person, who has already taken an educational loan or has applied for the same. It outlines the details of the loan programme, such as the loan term, the amount borrowed, the interest rate, the repayment option, and mortgage (if any). It should be prepared with precision and care, as it is extremely vital for keeping the person updated about his loan programme.
You can Download the Free Education Loan Programme Statement, customize it according to your needs and Print. Education Loan Programme Statement is either in MS Word, Excel or in PDF.
Sample Education Loan Programme Statement:
Loan reference number: 55423
Name of the person: Mr. Hamilton Lewis.
Name of the Bank: LSDD state bank.
Date: 10th of February, 2011.
The loan which was taken by Mr. Hamilton Lewis on 1st of January, 2011 for a period of seven years, has completed one month. The interest rate was fixed at 5% and the client has decided that the bank will deduct this amount every month from the client’s savings account. This month’s amount has been transferred from the client’s account to the bank. As agreed by the client, he will keep 10% of the principal amount in the bank; but, this clause has not been fulfilled. The bank requests the client to keep the requisite deposit in his bank account.
The purpose of the loan was education, and on the grounds of being a student, the bank did not keep any mortgage. As soon as the education programme or course finishes, the installment amount shall be increased by the bank. The repayment option and rate of interest, however, shall remain the same. If the client fails to repay his loan, he will be subjected to penalties.
(Signature of bank manager)