End use certificate for bank loan

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Navya Manoj (Querist)

27 May 2019 Hi,
I have availed an HDFC Loan against property and I have been asked to submit an End-Use Certificate from a CA. Can you please help me with the same?

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)

06 July 2024 Certainly! An End-Use Certificate (EUC) is a document often required by financial institutions to ensure that the funds borrowed for a specific purpose, such as a loan against property, are utilized appropriately as per the loan agreement. Here’s a basic format for an End-Use Certificate that you can customize with the help of your Chartered Accountant:

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**End-Use Certificate**

Date: [Date of Issuance]

To,
The Branch Manager,
[HDFC Bank/Branch Name],
[Address of the Bank]

Subject: End-Use Certificate for Loan Against Property Account No. [Your Loan Account Number]

Dear Sir/Madam,

This is to certify that I, [Your Name], holder of Loan Against Property Account No. [Your Loan Account Number], have utilized the loan amount sanctioned by HDFC Bank for the following purpose as per the loan agreement:

1. **Purpose of Loan Utilization**: [Provide a brief description of the purpose, e.g., "To fund business expansion activities," "To consolidate existing debts," etc.]

2. **Amount Utilized**: INR [Amount in words] (INR [Amount in figures])

3. **Verification of Utilization**: We have examined the utilization of the loan funds and confirm that the amount has been utilized exclusively for the specified purpose mentioned above.

4. **Other Details**: [Include any other relevant details or specifics required by the bank]

This certificate is issued based on the examination and verification of relevant documents and information provided by [Your Name]. We confirm that the utilization of the loan funds complies with the terms and conditions specified in the loan agreement with HDFC Bank.

Should you require any further information or clarification, please feel free to contact me at [Your Contact Information].

Thank you.

Yours sincerely,

[Signature of Chartered Accountant]

[Name of Chartered Accountant]
[Membership Number]
[Contact Information]

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Ensure that the certificate includes accurate information about the utilization of the loan amount and is signed by a Chartered Accountant who can attest to the correctness of the details provided. This document should be submitted to HDFC Bank as per their specific requirements for your loan against property.

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