‘Yours Truly’ is used in business letters. It is mostly used in those situations where you are at the beginning of a business relationship or you are not too close with the recipient. It is perfect as it is both cordial and not too personal at the same time. Few other variations may be ‘Very truly yours’ and ‘Truly Yours’.
Sincerely
‘Sincerely’ is mostly used as a part of formal business setting. It is mostly used in cover letters or for certain enquiry. Another variant is ‘Yours Sincerely’ which is considered as the simplest and most useful letter closings. They can be used in both positive and negative tone carrying letters.
Best Regards
‘Best Regards’ is used in slightly personal letters. It is used for those recipients who are not too close but not total stranger either. If you had a face-to-face, or phone interview or corresponded via email a few times this closing will be most appropriate. Variations include ‘Cordially’ and ‘Yours Respectfully’.
Best Wishes
‘Best Wishes’ can be used as closing in those cases when the recipient can relate back to the content of the letter. A few of its variants like ‘Warm Regards’, ‘Yours Faithfully’, ‘With Appreciation’ etc. are sent to familiar faces as an appropriate closure.
Here is a list of letter closing salutation examples that will help you convey the right emotion to the right person.
Best, Best regards, Best wishes
Cheers
Cordially, Cordially yours
Faithfully, Faithfully yours, Fond regards
In appreciation, In sympathy
Kind regards, Kind thanks, Kind wishes
Many thanks
Regards, Respectfully, Respectfully yours
Sincerely, Sincerely yours
Thanks, Thank you, Thank you for your assistance in this matter, Thank you for your consideration, Thank you for your recommendation, Thank you for your time
Warm regards, Warm wishes, Warmly, With appreciation, With deepest sympathy, With gratitude, With sincere thanks, With sympathy
Your help is greatly appreciated, Yours, Yours cordially, Yours faithfully, Yours respectfully, Yours sincerely, Yours truly