Sample letter to bank for Lowering interest rate

Sample letter to bank for Lowering interest rate


I have taken a home loan of Rs. 30 lacs in SBI Bank account number: XXXXXXXX. I took this loan last year for the purchase of my new house and have been paying all instalments at the specified dates.

I would also like to mention that I have been an upright account holder in your bank since the past 10 years with a good transaction record. Recently, I have been getting offers from other banks like ICICI and HDFC for transfer of my current home loan at a lower rate of interest. I found that other reputable banks are also giving home loans at a lower rate of interest in comparison to your bank.

I want you to consider reduction in rate of interest of my current home loan if I must continue my home loan with your bank. The current rate of interest that I am paying is X% while the other banks are offering at Y% rate of interest. The difference is huge for an amount as big as the one I have to pay on.

I shall appreciate if you could reach upon a conclusion soon and respond to my statement.
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  • RE: Sample letter to bank for Lowering interest rate -Lubna Lakdawala (03/13/14)
  • Sample letter to bank for Lowering interest rate


    I am writing this letter to request a reduction in the interest rate of my credit card payments. I request you to reduce my current interest rate of 12% to a more reasonable rate of 8% so it is more in line with the current market rate. It has come to my attention that my interest rate has jumped from 6% to 12% in a period of 18 months.

    I have visited the websites of several competitors and notice that they are offering an interest rate much lower than what I am currently receiving.

    I have been a solid, long-standing customer with your company for 15 years and would appreciate your consideration of a lower rate on my account. I feel the increased rate is unfair considering my long-standing history. You will find that I maintain not only a good credit history in general but I have an excellent history of payment with your company.

    I would appreciate your consideration of a lowered rate at this time. I would like to remain a loyal customer with your company. If you cannot extend a reduction offer, please revert as soon as possible, as I am considering accepting several offers from other card companies who are offering much lower interest rates as well as balance transfer options.