CC Interest Rate Reduction Letter

Sample/ Template Request application Letter to Bank ( SBI, ICICI, HSBC, AXIS, IDBI Banks etc.) for relaxation in CC ineterest Rate in word/.doc Fromat

RCL/ICICI/13-14/

April 26, 2013                                                      

The General Manager,

ICICI Bank

Commercial Branch,

Voltas House,Nariman Point

Mumbai  458 545

                  

Dear Sir,

Reg : Renewal of our Working Capital facilities

Enclosed please find copy of letter no -------- dtd.23.04.13.of State Bank Of India ( Lead Bank).

In the enclosed letter you will find that while sanctioning our limit they have reduced rate of interest. The rate of interest applicable on our working capital limit is 5.50% above Base Rate (Base Rate 8.25% w.e.f. 14.02.13) which comes to 13.75% p.a. w.e.f. 02.04.13

As per your last sanction  ----------- dt.07.10.2012, the rate of interest applicable in our working capital account with you is 6.5% above Base Rate ( Your present rate  Base Rate 9.00 + 6.5% =15.50% w.e.f. 14.02.13) in line with SBI, the lead bank and you have been charging SBI rate.

In view of reduction in the rate of interest by the lead bank (SBI), we request you to charge the same rate.

A confirmation in this regard (new SBI rate i.e. 13.75%) will be highly appreciated.

Thanking you,

Yours Faithfully,

For Rocket Sales Ltd.

Authorised Signatory

Encl. As above

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