When composing a letter to the bank requesting a modification in loan details, clarity and politeness are key. Clearly state your personal details, loan information, and the desired modifications. Provide a reason for the modification request and express readiness to complete necessary formalities. Include contact information for further communication.
Sample Letter to Bank for Loan Modification
To,
The Manager,
__________ (Bank Name),
__________ (Branch Address)
Date: __/__/____ (Date),
Subject: Modification in loan
Respected Sir/ Madam,
Most courteously, I am ______ (Name) and I am a resident of _______ (Address). I would like to inform you that on __/__/____ (Date), I applied for a loan amounting _______ (Amount) which got approved on __/__/____ (Date).
The following are the details mentioned for the loan application:
Name: ________ (Name)
Loan Type: _________ (Home Loan/ Vehicle Loan/ any other)
Account Number: _________ (Mention loan account number)
Amount: _________ (Amount)
Tenor: ________ (Duration)
I am writing this letter to request you to kindly modify my loan. I want to change the _________ (Mention – Duration/ number of EMI/ Installment Amount/ Any Other). The reason behind the same is ________ (Mention reason). It is requested to kindly look into the matter and guide me through the procedure for doing the required modification.
I am ready to proceed with all required formalities. I shall be highly obliged. In case a query arises, you may contact me at _______ (Contact number).
Thanking you,
_________ (Signature)
_________ (Your name),
_________ (Contact number)
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Sandeep Bhandari