REQUEST LETTER TO CHANGE FROM RLR TO BASE RATE
Date :
To
The Hongkong and Shanghai Banking Corporation Limited,
From
Re: ____________Loan, bearing Loan account No :
I/We have availed the captioned loan on floating Rate Of Interest (ROI) that is being calculated with reference to the Retail Lending Rate (RLR). Now in conformity with the RBI circular dated April 9, 2010 regarding switch over to calculation of ROI with reference to the Banks Base Rate (BR), I/We wish to switch my aforementioned loan from the current floating ROI to floating ROI with reference to the prevailing HSBC Base Rate (BR)..
I/We am/are aware that the said change is at the sole discretion of HSBC.
I/ We are also aware that save and except the aforesaid changes all other terms and conditions incorporated in the loan agreement and other documents executed by me/ us for availing the aforesaid loan shall continue to remain valid, subsisting and binding upon me/us. I/We hereby also undertake and accept all the terms and conditions associated with this change requested by me/us.
Yours truly,
Signature
Note : The request letter needs to be signed by all the applicants to the loan.
