Reschedule of Repayment Period of Outstanding Liability.
November 01, 2016
The Manager
Bank Name
Branch Name
Address
Sub: Extension of Loan Repayment Period.
Ref: Sanction letter No: (insert ref number), Dated (insert issuance date)
Dear Sir,
I have availed a (insert name/type of loan) loan of amounting to (insert sanctioned amount) from your esteemed bank vide above cited sanction letter. I have already settled the full principal amount and as of today repaid (insert percentage) of the interest. However, due to a sudden financial hardship right now I am unable to settle the outstanding liability within the scheduled period of (insert time) years.
Under the above circumstance, I would request you to consider my case favourably and kindly extend/reschedule the repayment period for another (insert time) years.
In the meantime, you are requested not to declare me as defaulter.
Best Regards,
Handwritten Signature
(Name of Loanee)
Loan AC No:..............
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