When writing a letter to request debt refinancing from a bank, it's important to be clear and polite. Begin with a formal salutation and address the branch manager. Clearly state the purpose of the letter and provide necessary details such as loan account number, opening date, and loan amount. Explain the reason for requesting refinancing and specify any changes needed in loan tenure or EMI amount. Close the letter with a polite request for urgent action and include your contact details. Avoid unclear language and ensure all essential information is included for a successful request.
Sample Request Letter to Bank for Debt Refinancing
To,
The Branch Manager,
______________ (Branch Address),
______________ (Branch Code)
Date: __/__/____ (Date)
Subject: Request for debt refinancing
Respected Sir/Madam,
I, _______ (your name) a customer of your bank holding _______ (type of bank account) account with your branch _______ (Branch Name) Since _____(Date/Year).
I am writing this letter to request a debt refinancing of my loan _______ (type of loan) that was for tenure _____ (Years). The main reason for the same is _________(mention reason). In this regard, I need to change my loan payment tenure and EMI amount so as to continue making the payments without fail. The details of my loan are mentioned below:
Loan Account Number – _______
Date of Opening – _______
Account Number – _______
Amount – _______
I request you to kindly take urgent action on debt refinancing and guide me with the procedure at the earliest.
Yours faithfully,
_________ (Name)
_________ (Contact Details)
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Sandeep Bhandari