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Format End Use Letter New

The customer is applying for a top-up, home loan, loan against property, or overdraft/term loan from Standard Chartered Bank. The loan is intended for the stated purpose of [blank] and the customer represents that the purpose is valid and not speculative, illegal, or for stock market investment. The customer agrees not to change the purpose of the loan funds without prior written permission from the bank and understands this would constitute default under the loan agreement.

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7K views

Format End Use Letter New

The customer is applying for a top-up, home loan, loan against property, or overdraft/term loan from Standard Chartered Bank. The loan is intended for the stated purpose of [blank] and the customer represents that the purpose is valid and not speculative, illegal, or for stock market investment. The customer agrees not to change the purpose of the loan funds without prior written permission from the bank and understands this would constitute default under the loan agreement.

Uploaded by

Vir Shah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Format for end-use undertaking from the customer

(Date)

Dear Sirs,

Sub: Application for Top-up / Home Loan / Loan against Property – Overdraft /Term Loan

We ______________________________________________________ refer to the Application


No. _______ dated ________________ submitted by me to Standard Chartered Bank

The said Loan is for the purpose of ___________________________________

I/We hereby represent, warrant and confirm that the aforesaid purpose is a valid purpose and is
not speculative or illegal in any manner. I/We undertake that the facility will be used for the
purpose it is granted by the bank /declared by me at the time of availing the facility and not for
investment in the stock market in any form.

I/We further agree, confirm and undertake that the purpose of use of funds under the Loan shall
not be changed in any manner during the tenor of the Loan; or that such change in purpose shall
take place only with the prior written permission of Standard Chartered Bank.

I/We agree that any breach or default in complying with all or any of the aforesaid undertaking(s)
will constitute an event of default under the Loan Agreement. In such a case the Bank will have
the right to recall the facility at any time.

Thanking you,
Yours sincerely,

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