When writing a request letter to the bank for reducing the interest rate on a housing loan, clarity and politeness are essential. Clearly state your name, loan account details, and the duration of your association with the bank. Mention the current interest rate and the reduced rate applicable to existing customers. Request the bank to reduce the interest rate on your loan accordingly. Provide all necessary loan details for easy reference. Express gratitude and politeness throughout the letter, and avoid omitting any crucial details.
Sample Letter to Bank for Reducing Interest Rate on Housing Loan
To,
The Branch Manager,
_____________ (Bank Name),
_____________ (Branch Name/ Address)
Date: __/__/____ (Date)
Subject: Request for reduction of home loan interest
Respected Sir/Madam,
Respectfully, my name is ____________ (Name) and I am a _____________ (Mention home loan account details) account holder in your branch for the last _________ (Duration) months/ years having loan account _______ (loan account number).
I am writing this letter to inform you that as per the guidelines w.e.f __/__/____ (Date) your bank has reduced the rate of interest for existing customers to ____ (Rate) and as per confirmation by Bank, I am also eligible for the same. At present ROI of my home loan is ______ (Rate of interest). Therefore, I request you to kindly reduce the interest rate of my loan amount to ____ %.
Following are details of my loan:
Loan Number: _______________
Account Number: _______________
Loan Tenor: _______________
I shall be highly obliged if you kindly do the needful.
Thanking you
Yours Truly,
__________ (Signature),
__________ (Name),
__________ (Contact Number)
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Sandeep Bhandari