When writing a request letter to reduce the loan amount, it's essential to be clear and polite. Clearly state your name, the loan type, current loan amount, and the desired reduced amount. Express gratitude and anticipation for a prompt response. Avoid vague language and ensure all necessary details are included.
Sample Letter for Reduction of the Loan Amount
To,
The Manager,
___________ (branch name),
___________ (address)
Date: __/__/____ (date)
Subject: Requesting a reduction in the loan amount
Respected Sir/ Madam,
This is to most humbly inform you that I am ____________ (name) and I applied for a _________ (type of loan – car/ housing/ vehicle/ educational loan/ any other) from your reputed bank amounting _____________ (amount) under the application number ____________ (application number).
This is to inform you that the amount as per the application is ____________ (mention amount) and I am willing to reduce it to __________ (mention amount). I shall be obliged if the loan amount can be reduced and processed at the earliest.
I expect your kind confirmation in this regard. I look forward to your quick action.
Thanking you,
Regards,
__________ (Name),
__________ (Contact details)
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Sandeep Bhandari