Punjab National Bank — complaint for not intimating the customer about increasing/decree

Address:

Civil Line Branch, PNB, Saharanpur, Saharanpur, Uttar Pradesh, 247001

This is submitted that i borrowed loan for purchasing home from punjab national bank in may/2012. My home lone account no. Is 521900nc00003674 opened on 19.05.2012. At the time of borrowing loan interest rate on home loan was told 9.25%. I have been continuously re-paying emis of my home loan since inception continuously. During the period from may-2012 till now. Repo rate has been revised/modified numerous times by the reserve bank of india which must have affected rate of interest on my home loan also every time but surprisingly i have never been advised/communicated about increase and decrease of the interest rate on my home lone and offered an opportunity to opt for lower rate of interest by the concerned loan department staff pnb civil line branch of saharanpur.

For discussion over this matter, i visited some sharma ji, the concerned dealer of home loan department in the above said branch and asked him about existing rate of interest on my home loan, mr. Sharma informed me that rate of interest on your home loan was 9.25 in may-2012 which is still same and you are paying emis on same interest rate. This was very shocking for me that during the period from may-2012 to 2019 repo rate has been revised/modified various times by the reserve bank of india. Mr. Sharma also told me, on being asked, that at present the current effective rate of interest on home loan is 8.10 which is recently revised. He further added, on being asked, as to how can i opt and get lower rate of interest (8.10%) on my home loan against existing rate 9.25% which is effective from may-2012. He stated to file an affidavit with copy of adhaar card etc. But further, on being asked, he added that lower rate of interest on your home loan will be effective as and when you will file the affidavit but he could not satisfy me on my queries as to why the customer was not communicated as and when the rate of interest increased & decreased from my-2012 till now and who will be responsible for loss which occurred to me for not intimating me for getting lower rate of interest every time from the period may-2012 till now.

Thus i am quite dissatisfied with the conduct and service being provided by the bank. Therefore, it is requested to let me know as to how the overpayment of interest paid by me will be adjusted by the bank due to failure on the part of the bank employee. An early & satisfactory reply will be highly appreciated.

A complaint in this regard was got acknowledged to the branch manager, civil line branch, pnb, saharanpur on 02.11.2019 but no cognizance is taken by him of my complaint so far. You can assess the behaviour of the bank manager with his comment that. "kuchh bhi kar lo hamara kucch nahi bigad paoge".