The 25-year-old "212" hitmaker took to Instagram and Facebook to share the letter, reported Ace Showbiz.
"I chose to share this letter on social media as I offended not only Zayn but may other people," she explained.
"I have learnt to admit my wrongs and how to take accountability for my actions. I'm sorry."
In her letter, Banks said, "Dear Zayn, There are no words that can fully express how sorry I am. Recent events have taught me the importance of taking accountability for ones actions. I want and need to say I am sorry, I was wrong."
"Coming from an ethnicity that is largely discriminated against does not warrant a license to use derogatory, abusive terminology nor does it give me the right to make hurtful remarks.
"I apologise not only to you, Zayn, but to all those I hurt and offended. I am not cruel, nor am I heartless or vindictive. There is a lot of love in my heart and there is good in my soul. What I did was wrong and I am committed to becoming a better person."
"The world can learn a lot from you and I hope you find room in your heart to accept my sincerest apologies."
Banks' apology to Zayn came amidst her ongoing feud with Russell Crowe following a hotel altercation.
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