I have purchased second hand flat by applying for home loan of Rs. 58 lakhs from PNB. Out of this amount I further paid Rs. 8 lakhs on my own. I took single disbursement of Rs. 50 lakhs from bank. I want bank to reduce the amount of loan to Rs. 50 lakhs and reduce the amount of EMIs. Please suggest how to go for it.
Apply to your loan servbing branch in writing to reduce the loan amount from Rs. 58 lakhs to Rs. 50 lakhs. Once it will come into effect, you will have to pay EMIs accordingly.