When drafting a letter to request an increase in the home loan amount from a bank, it's important to be clear, polite, and provide all necessary details. Clearly state your current loan amount, account number, and the desired increase. Express willingness to complete any required formalities and gratitude for the bank's consideration.
Sample Letter for Increasing loan amount
To,
The Manager,
__________ (Bank Name),
__________ (Branch Address)
Date: __/__/____ (Date)
Subject: Increasing loan amount
Sir/ Madam,
My name is _________ (Name) and I hold a home loan from your bank with a loan amount of _________ (Amount). The loan account number is _______ (loan account number).
The loan was sanctioned on __/__/_____ (date) with a tenor of ______ (Months/ Years) ______ (Number of installments). As per the sanction letter, I am eligible for a loan amount of ______ (amount) but I opted for ________ (amount) initially. I am writing this letter to request you for increasing my loan amount from ______ (amount) to _______ (required amount). I am ready to proceed through all required formalities.
Kindly consider this as a genuine request. I shall be highly obliged for your quick and kind support.
Thanking you,
_________ (Signature)
_________ (Your name),
_________ (Contact number)
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Sandeep Bhandari