EMI Deduction Request Letter – Sample Request Letter for EMI Deduction

When drafting a letter to request EMI deduction, it's crucial to maintain clarity and politeness. Begin by addressing the manager of the bank and clearly state the purpose of your loan, loan account number, and relevant details such as the missed EMI month and reason. Politely request the deduction of the missed EMI and express your readiness to pay any applicable fines or penalties. Provide your contact information for further communication.

Table of Contents:

Sample Request Letter for EMI Deduction

To,
The Manager,
__________ (Bank Name),
__________ (Branch Address)

Date: __/__/____ (Date),

Subject: Request for EMI deduction

Sir/ Madam,

My name is _________ (Name) and I hold a loan account in your _________ branch (branch name) having account number ___________ (Loan Account number).

I am currently holding a ________ (Purpose of loan – housing loan/ vehicle loan) loan of _______ (Amount) with ________ (Number of EMIs) EMIs and ________ (Tenor) tenor.

I regret to inform you that my EMI was not deducted for the previous month i.e. ________ (Month) of financial year _____ – _____ (Year) due to the reason ________ (Mention reason – funds not available/account freeze/any other) and I am writing this letter to request you to kindly deduct the above mentioned EMI as the amount is now credited in my bank account.

Respected, my Customer ID is ________ (Customer ID) and I am ready to make the above said payment of amount i.e. ________ (amount) and ready to pay the applicable fine and penalty for delay of payment.

I look forward to hearing back from you at the earliest. I shall be thankful for your kind support. In case of any queries, you may contact me at __________ (Contact number).

Thanking you,
_________ (Signature)
_________ (Your name),
_________ (Contact number)

Live Editing Assistance

Live Preview

How to Use Live Assistant

The Live Assistant feature is represented by a real-time preview functionality. Here’s how to use it:

  • Start Typing: Enter your letter content in the "Letter Input" textarea.
  • Live Preview: As you type, the content of your letter will be displayed in the "Live Preview" section below the textarea.

Additional Template Options

The letter writing editor allows you to start with predefined templates for drafting your letters:

  • Choose a Template: Click one of the template buttons.
  • Auto-Fill Textarea: The chosen template’s content will automatically fill the textarea.

Download Options

Click the "Download Letter" button after composing your letter. This triggers a download of a file containing the content of your letter.

Share via Email

Click the "Share via Email" button after composing your letter. Your default email client will open with the subject "Sharing My Draft Letter".

Share via WhatsApp

Click the "Share via WhatsApp" button to send the letter as a message to a contact on WhatsApp.

Copy to Clipboard

Click the "Copy to Clipboard" button after composing your letter. You can paste the copied text anywhere you need.

Click the "Print Letter" button after composing your letter to print it directly from the browser.

FAQs

  • Question: What should I include in the subject line of the letter?
    • Answer: Mention "Request for EMI deduction" or similar to clearly convey the purpose of the letter.
  • Question: Is it necessary to mention the reason for the missed EMI?
    • Answer: Yes, providing the reason helps the bank understand the circumstances and process your request accordingly.
  • Question: How soon should I expect the bank to deduct the missed EMI after sending the letter?
    • Answer: Banks typically aim to process such requests promptly, but the exact timeline may vary. It's advisable to follow up if you don't receive a response within a reasonable period.
  • Question: Do I need to offer to pay any fines or penalties for the missed EMI?
    • Answer: Yes, it's courteous to express your willingness to cover any fines or penalties incurred due to the missed payment.
  • Question: What if I face difficulties in making the payment for the missed EMI?
    • Answer: If you encounter any challenges, such as financial constraints, communicate openly with the bank and explore possible solutions or alternative arrangements.

Incoming Search Terms:

  • <ul> <li>sample letter to the bank for deduction of EMI</li> <li>EMI deduction request letter to the bank</li> </ul>