#45, Waterfall Avenue
Date: 14th Feb’ 2012
Subject: Agreement Letter
I am writing this letter in acceptance to your request application for car loan from our organization. I am pleased to inform you, that your loan has been sanctioned.
You are now entitled to receive a principal amount of $12,000 with an interest rate of 8%. You would have to start paying back your loan after 6 months, that is, from, August 2012. The minimum amount of monthly installment that you are required to pay is $600. A detailed loan agreement is attached with this letter for your perusal to make you aware with all the terms and conditions associated with loan.
If you agree with all these terms and conditions, then you can submit the signed copy of agreement and the required documents for car loan to collect your loan amount.
ABC Loan Company.