Sample letter to reduce emi of a loan (Extension of loan repayment period)

Learn how to write request letter for reducing/changing emi of any loan.

If you have taken a loan and you are unable to pay full EMIs due to some reason. Then, you should inform the bank about your situation and request them to 'reduce emi of loan' or 'extend loan repayment period' through a letter. 

If the bank is convinced with your request, they may extend your loan tenure with reduced emi. This is called 'Loan Restructuring'. A loan restructuring letter is a formal way to request a modification in a loan.

Sample letter to reduce emi of education loan:


Branch Manager

Canara bank,

Capital tower, Frazer road


Sub: Request to extend education loan repayment period (A/c-XXXXXXXXXX60)

Respected Sir,

I regret to tell you that I am not capable anymore of continuing my minimum monthly payment because of the problem I`m facing right now. My father has just discharged from hospital and he is in post-treatment process, it is very difficult to me to cover expenses for the medical and consultation etc with other expenses. I want to continue my payment and be responsible in managing my finances. I tried my best and check my budget but it is still impossible and the only way I can think of is to change my monthly payment into a lesser amount.

I am requesting for a reduced monthly installment payment until we can recover from our current situation. Instead of paying Rs. 10,000/- , I wish to reduce it to Rs. 6,000/-. I will resume with my regular payment once everything will be okay. I hope you can understand my situation and grant my request. 

I have given bank account details below for your reference:

Account Holder Name: 1. Raj kumar

                                          2. Rajeshwar singh

A/c Number: XXXXXXXX02

Customer ID: XXXXX11

Thanking you.

Yours sincerely,


Raj kumar

S/0 Rajeshwar singh

Magistrate colony,

Ashiana road, Patna-800025

Application to reduce emi of loan


You can modify the contents of these letters as per your requirement.

If you have any questions or suggestions, comment below. If you find these letter samples useful, then share it with your friends.

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