__________
__________
Mobile: __________
Email: __________
To
The Branch Manager
__________
__________
Dear Sir / Madam,
- 1. MY ACCOUNT
- 2. WHAT I AM ASKING FOR
If this loan carries a floating rate of interest and was not taken for business purposes, please confirm in writing that no pre-payment or foreclosure charge is being levied or has been levied. The Reserve Bank of India has directed regulated entities not to levy pre-payment charges on floating rate loans granted to individual borrowers for purposes other than business. The current instrument is the Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025, dated 2 July 2025, which apply to loans sanctioned or renewed on or after 1 January 2026; earlier RBI circulars to the same effect govern loans before that date. If you are levying any charge, please state the amount, the clause of my sanction letter you rely on, and the RBI instruction that permits it.
On the account being closed, please issue and give me the following. I have set out against each the date by which I expect it.
- 7. REFUND OF ANY EXCESS
If, after my payment is applied, any amount is found to have been collected in excess, or any unearned insurance premium, unadjusted instalment or credit balance is lying to my account, please refund it to my bank account on record and tell me the date and reference of that refund.
- 8. ACKNOWLEDGEMENT
- 9. IF I DO NOT HEAR FROM YOU
If the items above do not reach me by the dates I have set, I will take the matter forward in this order:
(a) I will write again to this branch and to your Grievance Redressal Officer, quoting the service request number.
(b) I will escalate to the Principal Nodal Officer or Grievance Redressal Officer of __________, whose name, address, telephone number and email you are required to display at your branches and on your website.
(c) __________
(d) Separately, if my credit report is not corrected, I will pursue it with the credit information company and with you under the Reserve Bank's framework for compensation to customers for delayed updation or rectification of credit information, now carried in the Master Direction – Reserve Bank of India (Credit Information Reporting) Directions, 2025, which provides for compensation of ₹100 for each calendar day where a complaint is not resolved within thirty calendar days of its initial filing.
I would much rather none of this were necessary, and I do not expect it to be.
- 10. DELIVERY OF THIS LETTER
- 11. GENERAL
Nothing in this letter waives any claim or right I have against you. I will not treat this account as closed until I have received the No Objection Certificate and No Dues Certificate asked for in paragraph 6.
Thank you for your assistance.
Yours faithfully,
_______________________________
__________
Borrower
FOR THE BANK'S ACKNOWLEDGEMENT
Received on ____________________ at ____________________ (branch)
Name and designation of receiving official: ____________________________________
Signature and branch stamp: ____________________________________
Service request / complaint reference number: ____________________________________