Request Letter for Stop EMI Deduction – Sample Letter to Bank for Stop EMI for Loan Already Paid

When writing a request letter to stop EMI deduction for a loan already paid, it's crucial to clearly state the issue, provide relevant details such as the bank account number and loan repayment date, and request prompt action politely. Clarity and politeness are key to ensure your request is addressed effectively without any confusion.

Table of Contents:

• Sample Letter
• Live Editing Assistance
• How to Use Live Assistant
• Additional Template Options
• Download Options
• Share via Email
• Share via WhatsApp
• Copy to Clipboard
• Print Letter
• FAQs

Sample Letter to Bank for Stop EMI for Loan Already Paid

If you have repaid your loan and clear all the dues but still EMI is getting deducted from your account, you can intimate the same to your bank by letter.

• Sample intimation letter to bank for stop deducting EMI of loan which is already paid and no dues are remaining.

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

Date: __/__/____ (Date),

Subject: Request for stop EMI deduction

Respected Sir/ Madam,

Most respectfully, I write this letter to request you for stopping EMI deduction from my bank account __________ (Mention bank account)

This is to request you for stopping the deduction of EMI amount from my bank account as my loan has already been repaid completely on __/__/____ (Date) with all interests paid and no EMI is due against the loan but still my account is being deducted every month on __/__/____ (Date) amounting ______ (Amount).

I believe you would consider this as a genuine request and do the needful at the earliest. In case, any query arises, you may contact me at ________ (Date).

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

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• Start Typing: Enter your letter content in the "Letter Input" textarea.
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Additional Template Options

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Share via WhatsApp

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

Copy to Clipboard

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Print Letter

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FAQs

• Q: What should I do if EMI deductions continue despite fully repaying my loan?
  • A: You should promptly write a formal request letter to your bank, clearly stating the issue and providing details of your loan repayment, and request the cessation of EMI deductions.
• Q: Is it necessary to include the loan repayment date in the request letter?
  • A: Yes, providing the loan repayment date helps establish that the loan has been fully repaid, ensuring clarity for the bank to address your request effectively.
• Q: Should I mention the specific EMI deduction amount in the letter?
  • A: Yes, including the exact EMI deduction amount helps the bank identify the specific deduction to be stopped, reducing any potential confusion.
• Q: Can I request a stoppage of EMI deductions over the phone instead of writing a letter?
  • A: While you can make an initial inquiry over the phone, it's advisable to follow up with a formal written request letter to ensure clarity and documentation of your request.
• Q: What should I do if the bank does not respond to my request letter?
  • A: If you do not receive a response within a reasonable time frame, consider following up with the bank through additional letters or by visiting the branch in person to escalate the matter.

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