Write a letter of request to the bank manager for extension of time to pay EMI on your home loan

Equated monthly installment (EMI) is the fixed monthly amount to be paid by a burrower of loan to the lender which includes the interest to be paid on a specific calendar date. Banks a common source of home loan provided the loan applicant has the required credibility to pay back the loan in EMI. Sometimes, one may not be able to pay the EMI due to some person problems. The bank has to be notified beforehand about it and an extension time may be requested to pay the EMI on home loan. This is a simple request letter to a Bank Manager for extension of time to pay EMI on home loan. The article addresses the question of properly presenting the request to the concerned person. The letter may be modified according to need and situation.,

To
The Bank Manager
Bank Name
Branch Name
Address of Bank

Sub: Application for extension of time for EMI on home loan

Dear Sir/Madam,

                              I hold a savings account in your [Bank name, Branch name] bearing number [Bank Account Number]. I have a clean record as a customer for the last 8 years of our association and I have availed a home loan of nine lakhs against this account on [Date]. I would like to inform you that I have been dutifully paying the EMI without missing a single one till now. More than half the loan amount has been repaid including the EMI.

                              But, due to some financial constraints, I am not in a position to pay my EMI currently. Hence, I formally request you for an extension period of three months for the EMI on home loan. I am hopeful I would be able to pay the EMI by then.

                              I will be highly grateful to you for the extension of time for the EMI.

                              Hoping for a favorable and prompt response from your end

                                                                                      Yours faithfully,

                                                                                       Your name

                                                                                       Your address

                                                                                       Your Contact No.

Date:
Place: