[Resolved]  Punjab National Bank Housing Finance [Pnbhfl] — pnb housing loan complaint for loan account number - how/ahm/0118/481212

Address: Ahmedabad, Gujarat

I have taken a loan of 43, 90, 000 from PNF housing loan at the interest rate of 8.35% for 25 years which includes the 300 EMIs.

My EMIs were started in March 2018 of Rs of 34, 907, and I almost paid around 24 EMIS for next two years. After paying this amount, my total number of EMIs should become 300-24 = 276 EMIs.

Suddenly PNB has increased my rate of interest of 8.35% to 9.60%, and my EMI amount is increased to 35, 629 INR. I have almost paid this amount for a year that means around 12 EMIs. I was not aware about my remain tenure during this time, and again PNF has suddenly increased my rate of interest from 9.60% to 9.75% in very short period i.e. in just 4 months which was very socked me. Once this amount is got increased, I didn't get any notice for increasing my EMI account, but they keep my EMI account as it's, and they have increased total number of tenture for this interest rate,

I have decided to make the pre-payment of 50, 000 for my loan amount, and after adjusting this amount I got a message from PNB that your remaining tenture is 482 EMIS which was very socked me.

I keep going paid my EMI and it's still getting increase, and because of this reason I decided visit branch. When I visited branch they told me that they can not increase the EMI after certain amount, so they increased total number of EMIs. I told them that I didn't receive any notice from your guys. they told me that you must receive call from us as well as your should receive notice at home, but I didn't;t get at all. I received one letter from PNF after I visited the branch but it was very late for me, so I decided to switch my loan account.

I believe that there is something wrong done by this bank and there is some corruption behind this interest rate. I am not sure if again it could be bank problem or loss of bank because of this kind of scenarios.

I have seen many kind of cases where bank's employees involved in this type of corruption and shows the profit for their bank by cheating their customers.

I hope I have written all the things at right place. If this is not correct place to write my complain, please let me know where should I write my request. I needed, I would be ready to visit RBI anywhere in the india to solve this problem.

A question is in my mind who will going help me to recover this amount which I paid to bank if this is real corruption?
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Mar 28, 2020
Complaint marked as Resolved 
Punjab National Bank Housing Finance [PNBHFL] customer support has been notified about the posted complaint.
Verified Support
Feb 26, 2020
Punjab National Bank Housing Finance [PNBHFL] Customer Care's response
Dear Sir,

We are in receipt of your appended email and request you to refer all our previous communications, as part of this email.

1. Your loan account has been sanctioned at a "floating rate" structure, with the rate of interest being unchanged/fixed for initial 12 months. Therefore, post completion of the 12 months, the loan migrated to the floating structure with the rate of interest being linked to our Reference Rate, i.e. PNBHFR.

2. Please note that PNBHFR has undergone a change in the past few months leading to a change in the rate of interest from 8.95% floating to 9.60% floating, by the time your loan migrated to the floating rate structure w.e.f April 2019. This change led to an increase in the loan tenure as the EMI remained unchanged to this effect.

3. We see from our records that you have closed your loan account on February 04, 2020 and hence we are unable to extend a reduction in rate of interest as a service gesture.

4. Please note that the calculations are accurate and a copy of the loan statement has been shared with you vide a separate email for the details on the changes in rate of interest. The changes in loan tenure are as follows:

Old ROI New ROI Balance Tenure
8.85 8.95 321
8.95 9.15 347
9.15 9.35 382
9.35 9.6 456
9.75 9.6 340
9.75 9.75 389
9.75 9.75 434
9.75 9.75 481

Hope this address your queries.
This is to confirm that no malpractice is indulged in here and no additional money has been collected from your kind self.

Thanks & Regards
Central Service Team
Toll Free:[protected]
www.pnbhousing.com


Please excuse typographical errors, if any
 
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