Punjab National Bank Housing Finance [PNBHFL] Complaints & Reviews

I have taken homeloan from PNBHFL and applied for PMAY through them. It is almost more than a year there is no response. Everytime they come up with a new excuse of getting delayed by NHB or Govt agency. Moreover during taking the loan I have submitted the PMAY application form which they had misplaced and I had to resubmit the same. When I tweeted on social media about this fraud practice, Mrs Shilpa Nahata from PNBHFL custtomer care asked me to delete the tweets on a condition that she will resolve the issue at the earliest. Still now I am waiting for a resolution and nobody from the Senior management of PNBHFL is bothered to look into the same.

Hi Team,

Loan was granted for the loan acct no HOU/ECTY/1218/622684 in Bangalore Electronics city Branch due to property documents problem loan was not taken

they have entered in CIBIL after that they have not removed.

Kindly remove from CIBIL and please send me letter that Loan was granted but not taken due to property documents
Regards
Venkatesh kulkarni
cell no [protected]
[protected]@gmail.com

Dear Sir/Madam,

As I have taken loan from Virar Branch PNB Bank on August 2018 Amnt. 3307500.00 tenure of 30years and 8.99 % Interest Rates, Loan Account No.HOU/VRR/0418/520620, I am not happy with PNB Services and their support due to following reason and planning to do loan transfer.

1. Within 2 Months they have increased my interest rates to 9.15 % without any Email and Message Notification, and they kept same EMI of 26590 and increased tenure 358 Months to 386 Months without intimation. I have received hardcopy after a 1 and half Month. Ideally in digital world They should intimate immediately by sms or email, as they intimating about keeping bank balance and all immediately by message.

2. I asked them to decrease my tenure to 20 Years I am ready to pay EMI of 30578 as per the increased interest rates.

3. Again after 2 months they have increased my tenure and increased Intrest rates 9.15 to 9.39, I request again to do not increase my tenure and they kept same tenure

and increased EMI to 31150.

4. As I understand for new borrower they are providing less interest rates 9.0 to 9.10 and for existing customer they increasing tenure continuously without digital notification or soft copy. Even they doesn't displaying current ongoing Interest rate on their customer portal and Mobile application and Pending Principal amount How we should know my current interest rate, we just paying EMI blindly.

5. I have requested and raised complaint to PNB and they taken my request to reduce intrest rates from 9.39 to 9.24 and asking me to submit again complete form with 100rs Bondpaper. During Increasing Interest rates

they didn't asking us to fill any form but to reduce 0.15 interest rates they wanted to complete formalities to take effect.

6. During Loan request I was filled PMAY form, and after 2 months I was requested for PMAY status and Support informed me as We did'nt received any PMAY form. So I have filled PMAY form again in October at Borivali branch, current status they informing as submitted NHB and in process.

This is very pathetic service I saw and I hope other banks are not like that. What will do poor persons if they doesn't know what is happening behind.They are offering 9.24% only and not more than that. If government reducing repo rate why not they decreasing interest rates by own, why we need to complete formalities? Now PNB replying on Repo rate deduction is only for Bank Only not for Housing Bank.

Requesting you to take a look on this matter as most of the customers might facing this issue, but don't know how many peoples are highlighting this. Attaching some documents for your references.

Thanks & Regards,

Aditya Vaje

Mb No.[protected]

Have mailed you repeatedly regarding irrelevant increase in my EMI, even when RBI has decreased repo rate from 6% to 5.75% with immediate effect.

You guys have already increased my tenure months from 240 months to 256 months on the name of fixed EMI of Rs 19, 490/-. But this all was fake, you increased my EMI amount to Rs. 20, 186/- and deducted the same without my consent.

You guys haven’t replied to my last two emails. You cannot increase my EMI when while country is experiencing decrease in EMI due to repo rate cut by RBI.

I am going to take action against this carelessness on your part. Ignoring is never the way out.

Really disappointed from your service.

I took a loan in Mar'17 & floating interest rate was 8.50%. Now, i come to know that 9.90% is current interest rate (Apr'19 onwards which will be 9.90% from Apr 19 onwards and balance tenure has been revised to 275 months as on 26th May 19. I got a response that rate has been increased by 0.25%. But why it is 9.90% & no one informed me as well.And 1st up all EMI was changed Rs.14458 to Rs.14671 and now coming this EMI will change Rs.14671 to Rs. 16627. Why its change please inform me. So i can't affort this EMI and my salary has not been increase since 2016 so how can i give this EMI.If i give this EMI so how can i do eat .

Now when I just got a call from them, they are saying it was floating rate and that's why it has been revised. From 8.50% to 9.25% and then to 9.90%. Kindly do something in this regard as I feel like trapped after loan from PNB housing. Please help me.

Thanks,
Krishna Gopal Roy
Loan Account Number: HOU/KOL/0317/358912
Email : [protected]@gmail.com

Dear sir,

I have applied for pnb housing loan with ref no-ref/hou/ecty/0419/675409 on 4-4-2019. Loan marketing manager mr. Sajal tiwari electronic city branch (Bangalore) has confirmed if loan is not sanction amount will be refunded within 2 weeks now its almost 7 weeks over still they have not process my request. Whenever i am calling he say he is in meeting or when he pickup he say senior zonal manager approval is pending he is on leave. Today when i called now they are saying they are not processing due to month end. What customer has to do with month end.
For application or time of loan these ppl will call you 100 times now there is no response at all.
I have paid rs.5900 on 5-4-2019 with imps ref no[protected].

Rgds
Kaushal
[protected]

Respected sir

1. I had applied for a plot + construction loan in pnb housing finance omr chennai branch i paid a cheque of rs 5900/- sbi branch passed on 15/3/2019. Application number hou/omr/0219/656124

2. When i applied itself i asked them is my salary ok can i avail the loan they said it was ok and then processed my loan asked for so many additional papers i gave every thing. They made fi inspection in my house..

3. They also made tele verification and asked all details i am a central government staff.

4. After 10 days when i went directly to branch in omr chennai they told my loan was rejected due to low salary and loan amount was high. And my residence was in kochi and i am buying a plot in chennai so we can't process the loan.

5. Sir my simple question is this.. The basic criteria to check when a loan application comes to your bank is to see whether he had the repayment capacity and to check the kyc documents. If these two did not match they can sent this application back in beginning i would have applied in any other bank after completing all process and taking all signs and paper wasted 15 days of time and they deposited my processing fees suddenly and took the amount.

6. This is a serious lapse of service their motive is to get processing fees

7. I am a customer when i asked in mail the reason for rejection they said me.. As per internal norms they will not inform me what is the issue in my case

8. Please kindly look in this issue and get back my processing fees

Thanking you

Regards

P. Srinivasan
My mail id is [protected]@gmail.com

Madam/dear sir,

I nitin porwal having a home loan with you.

I applied for foreclose request from 17th of may 2019 with complete all formalities but no one not responded still now.

Kindly arrange to provide the foreclose letter as soon as possible for closing the loan with following details..

Loan account number hou/noi/0118/476125
Name - nitin porwal

Please note that i am unnecessarily paying the extra interest only for your delayed response.

Please resolve the issue other wise i will take the help of media and regal.

Regards
Nitin porwal

Hi all,

For new customer they are giving loan @9.10 %

For old customer loan @9.75 %

Please do not take a loan from this bank because this is just attact roi for first 2-3 months only. Better to go with any bank...

This bank will do multiple false commitment, i took a loan from indore branch last year.

1- insurance they will give you for non-home loan, which is really not required at all. They will give you forcefully.
2- mortgage also you need to give, for other bank it is not required.
3- my roi was increase from 9.10 to 9.75.
Other bank i. E. Hdfc increase from 8.80 to 8.90 and they have reduce from 8.90 to 8.85, which is acceptable. But in pnbhfl increase day by day
4- request resolution will not happen in this bank, they will take a your request and forget about solution. Last 10 months i have multiple discussion with customer care, did not get any resolution.
5- part payment you need to go to their office, no online facility in this digital world.

Don't go for this junk bank better to take it from your relatives or any other bank.

Loan Account Number - 510632
Loan Amount - ~ 15 lakhs
Loan taken at ROI - 9.0 (Which was committed @8.9)

after 2 months ROI was - 9.1 %
After 3 months ROI was - 9.3%
After 2 Month ROI was - 9.5%
Now in March 2019 - 9.75%

This is how PNBHFR works.

Please do not take any loan from this junk bank, they will do multiple false commitment.

Now they called me after putting multiple request on this forum and telling we will try to reduce you ROI.

Office told me you will get an response within 3-4 days. But for now I have not get any reply.

Please Please do not take any loan ... I have already plan to close this loan to take a loan from other bank which I am getting in [protected]@9.0

I had applied for housing loan in PNB (Application No : HOU/BLRI/0319/665469) and it’s got approved and amount was supposed to disbursed on Apr 7th and accordingly registration was planned on Apr 8th. But last minute surprise the PNB said the cannot able to provide me the loan as i have opted for joint registration (My name & My brother name) as we are joint family. Initially they accepted and collected all my documents (Sanction letter from builders, Loan agreements, Sale Dead and copy of property documents, ECS forms & Physical Cheques) and my brother documents. In this regard i faced lot of mental stress as i have paid 50% of amount to builders and made an agreement accordingly. Finally they have not responded properly and not sanctioned the loan. But they have collected the processing fee of 5900/- from me and said that if any loan rejection from bank side they will refund the amount but now they are telling will not be able to refund. Kindly look into this at the earliest please.

1. They will engage you till one month and realese multiple sanction letter. But i. Last sanction letter you may surprise by insreasing roi and reduce loan amount.
2. They are selling insurance forcefully. This also you will come to know in your sanction letter. If you do not want to take insurance. They will start bargain to take this junk insurance..

3. Initial they will tell you that your loan roi would be fixed for 13 month. But after 1-2 emi your loan roi changed. I took a loan last year at 9% roi now its 9.5%.

4. I got 16.8 lakhs loan in my first sanction letter including insurance. I request them to remove 80000 as an insurance. So they removed after multiple discussion. But loan amount also reduced to 14.5 lakhs.

Please don't take any insurance. If they forcefully sell insurance then you just tell them i do not need this loan. They will cancelled it but it will take 15-20 days. If they take more than 2 days they please change you bank for home loan. Because they just want to engage with them till you get your builder appointment date comes near. And then finally release sanction letter will less amount and increase roi. They you have to accept it anyhow. Because this time you have committed to your builder.

This people will not contact me and sent an email that we try to reach you but your phone was not reachable.
Now they people are lying on public forum also, earlier they were telling false commitment one to one only.

Without intimation pnb commercial rate of interest increased without prior information more then 4 times in a year. Really surprised to see this. Even insurance amount has been charged 11%. After paying more then 9 lakhs as emi then present tenure has been increased. It is really shocking i came to know only when i asked to check my balance amount and asked for the loan statement. How can pnb increase the rate of intrest as and when required whebn called to the pnb customer care they are asking to refer the pnb website. Such a foolish a common man is looted. I would like to take up this point very seriously as i cannot afford such a huge loss.

Best regards
Ramesh waghmare

I have 2 home loan from pnbhfl
Hou/ind/0316/273628 & hou/pun/1216/339116 pnbhfl changing roi almost every month and increase my total tenure of 30 years to 72 years.
They are cheating us by increasing tenure without any information to customer.

Last financial year they charge 2.5 lacs interest and deduct only 8 thousand from principal only after giving all emi (20k) on time from last 2 years my total principal is deducted 25 thousand only.

I have applied for home loan at pnbhfl boisar (Palghar) branch. They have not informed me about insurance policies starting while applying. Suddenly they have added 82500 rs insurance amount to home loan in sanction letter. During my registration period of flat. Pnbhfl executives are forcing me to take insurance saying mandatory. And processing fees charged to me 1% on loan amount with insurance cover.
After consulting legal advisors, under rbi insurance act laws, no bank can force customers for insurance policies with home loan. I will not be able to take the insurance policy mentioned in the sanction letter.
So i request you to please check with the pnbhfl boisar navapur road branch and request to exclude insurance premium from the loan sanction. Please help.

Without intimation pnb commercial rate of interest increased without prior information more then 4 times in a year. Really surprised to see this. Even insurance amount has been charged 11%. After paying more then 9 lakhs as emi then present tenure has been increased. It is really shocking i came to know only when i asked to check my balance amount and asked for the loan statement. How can pnb increase the rate of intrest as and when required whebn called to the pnb customer care they are asking to refer the pnb website. Such a foolish a common man is looted. I would like to take up this point very seriously as i cannot afford such a huge loss.

Best regards
Ramesh waghmare
[protected]

Sir kindly forward a monthwise statement of my housing loan right from march 2017. The statement may contain monthly deduction of principal component plus interest and balanace principal as on date from march 2017 to feb 2019. I have requested in the past but not received the same.in the meanwhile some money has been refunded to my loan account due to one personal policy of my wife.

My loan acct no. Is hou/pun/1216/337837

1. They will engage you till one month and realese multiple sanction letter. But i. Last sanction letter you may surprise by insreasing roi and reduce loan amount.
2. They are selling insurance forcefully. This also you will come to know in your sanction letter. If you do not want to take insurance. They will start bargain to take this junk insurance..

3. Initial they will tell you that your loan roi would be fixed for 13 month. But after 1-2 emi your loan roi changed. I took a loan last year at 9% roi now its 9.5%.

4. I got 16.8 lakhs loan in my first sanction letter including insurance. I request them to remove 80000 as an insurance. So they removed after multiple discussion. But loan amount also reduced to 14.5 lakhs.

Please don't take any insurance. If they forcefully sell insurance then you just tell them i do not need this loan. They will cancelled it but it will take 15-20 days. If they take more than 2 days they please change you bank for home loan. Because they just want to engage with them till you get your builder appointment date comes near. And then finally release sanction letter will less amount and increase roi. They you have to accept it anyhow. Because this time you have committed to your builder.

I applied for a home improvement loan and paid 5900 rs via cheque
Before even getting approval they encashed my cheque. The loan was rejected for technical reasons and now when i contact customer care for processing fee refund they say they can't as per schedule of charges its non refundable. When i signed the agreement it was mentioned 50% is refunded. Looks like everyone in pnb is fooling customers

Good Day,

With reference to the subject, i have availed a home loan from your bank through Coimbatore, lakshmi Mills branch. I applied for a loan amount of Rs.23 lakhs and i was sanctioned Rs.21 lakhs. The executive Mr.Murukesh convinced me that the balance 2 lakhs will be sanctioned before you complete the building work. Also i was forced to take insurance of Rs.1.05 lakhs which was not at all informed until i sat to sign the docs. Finally i came to know that the balance amount of Rs.2 lakhs is a fake promise by the cheap executive and i moved on to complete the building work with my own source of funds.

Again when i contacted the executive of PNB Murukesh, he said the loan can be processed only after 6 months after releasing the final payment. I waited for the time to come and again when i contacted the executive to make sure that the top up loan can be availed after 6 months, he said it can not be done. Then i rushed to the branch and met the officer to get a clear picture on the same. She said the loan can be processed only after 1 year. Since i cannot wait for another 6 months, i applied with Baja Fin serv home loan and they sanctioned the loan amount which i requested with in a day.

Now again when i approached the bank for fore closure letter and LOD, they are charging me Rs.590 for Foreclosure letter and also Rs.590 for LOD. It was the executives responsibility to provide the photo copy of the docs i signed along with the MOD. he never bothered to attend my call nor respond to my query. Now when i approached the bank they are charging me Rs.590 for MOD copy. This is ridiculous.
Also she said it will take 15 days to provide a Foreclosure letter. I was surprised and asked why does it take such a long time??? She said i will receive a call from PNB Head office. When im no longer interested in continuing with this bank then what is the point of having a word with your HO Guys. I just dont want any more discussion.

I'm writing this mail to show my grievance. Hope you understand my situation and frustration and act accordingly to provide me the foreclosure letter at the earliest.