Punjab National Bank Housing Finance [PNBHFL] Complaints & Reviews

I had applied for a housing loan vide application no. Ref/hou/tri/0118/482954 through your registered office at trivandrum on 24.01.2018. Whereas on 25.01.2018 the sales executive, who dealt with my application, was returned my documents on the ground that pnb rejected my loan application. As and when heard this, i just wondered about rejection since he faile to adduce necessary documentary evidence to prove"why and on which grond" my application was rejected. Finally i contacted mr. Soji cheriyan, relationship officer, trivandrum over phone owing to obtaining a clarity over the rejection of application. But it is astonishing to note that he didn't reveal anything happened to my application and informed me that the bank is having their own liberty to reject and accept the applications submitted by general public without having any reasons whatsoever. Further he informed that if i visit that branch in person he can issued a certificate that "your housing loan application is rejected". This is not at all fair and equitable and the banking sector shall have to reveal at-least the fate of the application submitted by a citizen of india.
You may have observed that as and when you get my application, the pnbhl issued a receipt showing application number and likewise others. But on rejection they failed to inform me through a valid reason. As a citizen of india, rights is guaranteed to know the real reason and ground which adopted by your goodself in rejection. Otherwise it can be said to be a clear violation fundamental rights guaranteed under the constitution of india. The fact informed by mr. Soji cheriyan is not withstand before the eye of law and accordingly thrown away scornfully. This was the main reason why i constraint to write you through this medium. Hence in the interest of justice, i request that pnbhl authaority may be directed vto furnish the real reason and exact ground for rejection of my application dtd.24.1.2018.
Thanking you
Vipin v nair

Hi,

I have applied for a home loan with 90% funding for a ready possession property in wakad, pune. After initial processing and getting a confirmation of sanctioned for a home loan, i did not receive any physical or soft copy of the sanctioned letter. After following up with the pnb salesperson and enquiring about the next process i came to know about compulsory 5% insurance which was previously mentioned as negotiable. I tried to ask for the sanctioned letter which he says is only provided at the time of disbursement.

Now i am stuck after doing registration of the property bank is asking for 2.5 lacs insurance premium which i have to pay upfront or it will be added to loan amount. They say i have only two options pay insurance money upfront or add to loan, or else the loan will be canceled. They are not even sharing the sanctioned letter or any other document or receipts till date from bank pertaining the processing or conditions in writing.

Subject "approval of your housing loan/residential home purchase loan application no. Hou/pm/0218/488628"

"dear sir,

Welcome to pnb housing finance ltd. Thank you for choosing us for your housing loan/residential home purchase loan.

We are happy to inform you that your application has been approved.

Sanction letter containing broad terms and conditions is being sent to your mailing address.
Kindly contact us for early completion of formalities relating to disbursement of your loan. You can also make request for disbursement on link www.pnbhousing.com

Following documents are to be submitted by you for availing disbursement of your loan:

1. Accepted sanction letter by all borrowers
2. Fulfillment of sanction conditions
3. Duly signed loan agreement
4. Disbursement request form
5. Registered ecs along with 7 cheques
6. Property documents

Our relationship manager will assist you in completion of disbursement formalities. You may also contact us at communication details mentioned below for availing disbursement.

Relationship manager: amol honde
Mobile no: 9999999
Branch address: pnb housing finance ltd. Office no. 302, 3rd floor, gheewala complex, station road, chinchwad, pune
Branch phone no.:[protected]

Thank you for choosing pnb housing finance limited.

We value your relationship with us and assure you of our best service always.

Best regards,
Pnb housing finance limited

This is an auto generated e-mail; please do not reply on this e-mail address."

Loan account = HOU/PUN/0516/286277

I had raised a service request to reduce my interest rate to lower to 8.35% in roi. You offered @9.35% that was minimum roi in your institution.

As several other banks are already offering this rates including pnb who offer this rate to new customers but not existing customers
so we feel cheated and bank is not bothered about old customers. If only getting new customers is so important it is better to. Move on to other bank
who can offer low rate of interest and better customer service...

I have been reporting several times an issue related to loan part payment adjustment but it seems that the issue has never been addressed as agreed but was manipulated according the automated rules/instructions setup in system.

Following were the agreement between myself and the sales person from pnb housing. I signed the agreement based on what i have been told but i am getting deferred statement put crossed by the customer care representative when called on toll free number for a detailed information on part payment done recently. Here is what was committed and what went wrong...

What was committed..

1. Rate of interest is 8.35% per annum for the tenure of 240 months.
2. Part payment can be done anytime and is fully free of any pre-payment charges.
3. Part payment should decrease tenure by default and its customer choice if he want to get his emi reduced instead tenure.

What went wrong..

1. Customer service informed that the part payment of rs 50100 is adjusted and emi is decreased to 20500 from 20621. Which is not expected.
2. Rate of interest is fixed for 13 months and then will increase to.25% more which is 8.60 % in total. It was never told to me even before agreement and not at the time of agreement.
3. Tenure should have been reduced but its not reflecting.

Services are very poor. Sr are simply being closed without and resolution. Also i never got call even for confirmation on the agreement as normally we get from other banks.
Staff at lucknow branches are also does not know on how to get this done. They said they will talk to it department and get this corrected but no feedback upto now. Unfortunately i have taken two loans at same branch..
Very disappointing... I am not sure how to escalate now but somehow got to know that i can complain on grievance registration & information database system (Grids).. Not sure on what can be done or any way to change bank.. Probably a balance transfer..??

Hi
Pnb housing finance has mis-sold a policy to me. They said it is mandatory to buy insurance policy. So they deducted the premium from the loan amount. But later i got to know that it is not mandatory to buy policy.

I got to know that for the same housing project also, few people did a very hard bargain and did not take policy. But for me they forced me to take the policy.

Moreover they did not give me the insurance policy copy also. Can i cancel that policy now?

Loan account no. Hou/hydl/1117/457545
Branch: hyderabad

My loan reference details: Ref/Hou/ban/0118/480637. . I have applied for home loan at PNBHEL in bangalore btm branch. in sanction letter i see very high amount towards insurance premium i. e 1, 67000.after having discussion with manger they revised it as 100000, which we never opted. while applying loan executive told us insurance is not compulsory and took 5900 as a processing fees. now they are forcing us to take 100000 insurance otherwise we can see for other bank. this it self shows that PNBHEL can loose customer just because of insurance. this is the case of cheating with customer. As per the RBI insurance act law no bank can force customer for insurance policies. I will not be able to take insurance policy mentioned in sanction letter. This is very ridiculous and take immediate action. Hope this will consider with top priority.

I am deepak mangalore. I am apply for home loan pnb. But he is not responding at me. So many times i call him and go to the bank they have telling wait sir wait and 2 months he was same answer. And 3 months later he tell sorry sir you are not giving loan. O. K iam telling give my 11800 rs back. O. K sir refund for your amount your bank. And now 5 months late he was not refund my amont. Not pick up the call. Bank land line calling. Same answer wait sir manager is not there. Sir i request you plzzz refund my amount..

Sir
My home loan application has been cancelled due to wrong sanction letter. There are two sanction letter in which interest rates are different.in 1st sanction letter interest rate is 8.60% which is sign by me and after sanction my loan there was a another sanction letter in which interest rate is 10%. It is cheating with me. My account has been debit two time. 1st time rs 3540/ for clearing and 2nd time rs 2950/ for clearing. That is wrong and cheating with customers. So please check it and take right action. There are two sanction letter how is possible. Sanction letter is attached with below. For this cheacting i will go through media and apply fir against pnb housing finance ltd meerut branch. Thank you

Hi Team PNB

I had taken Mortgage loan from PNB. I wanted to close my loan and requested for pre-closure letter but I been informed to pay Rs 590 upfront for the letter and waiting period is 10 days to receive the pre closure letter but other bank issue pre-closure letter on request the same day. I don't have time to wait for 10 days, wherein I am expecting my visa anytime...beforehand I am closing all my loans and other commitments but could not get the support from PNB. Kindly do the needful on this or any suggestion would be much appreciated.

Regards
Raj / [protected]@gmail.com

Note - The worst part is, PNB is charging and collecting money from customer for each and every request within PNB and moreover for the information related to my account. Wondering to know the level of customer beneficial services that PNB is offering to it's customers other than Loan amount + Insurance + Service Charges + Surveyor charges + documents charges...etc..

I have applied for home loan at pnbhfl warje branch. They have never informed me about insurance policies starting while applying.

Now, i got an email that my loan has been approved and they are asking me to submit an agreement draft and given payment details for disbursement when i submitted all required documents suddenly they have asked me to buy an insurance around rs. 1 lakh with my home loan and they are saying that they will added rs. 1 lakh amount under my loan amount. Also they are asking my term plan details which i have been taken for my family future.

After consulting legal advisors, under rbi insurance act laws, no bank can force customers for insurance policies with home loan. I will not able to take this insurance policy asked by the bank.

I would like to request you, please check with the pnbhfl pune warje branch to exclude insurance premium from the loan sanction. Kindly help.

My home loan reference number is ref/hou/wrje/1217/468698.

Pnbhfl mail id's
[protected]@pnbhousing.com
Customer. [protected]@pnbhfl.com
Customer. [protected]@pnbhousing.com
[protected]@nhb.org.in

Thanks,
Nilesh walimbe
[protected]@gmail.com

I have applied for housing loan of rs. 40 lakhs. My loan application no hou/jan/1117/449485 dated 9.11.2017 was approved confirmed via my mail [protected]@gmail.com. Another mail dated 20.11.2017 was also received from pnbhfl that sanction letter will be mailed on my mailing address. But i have not received any sanction letter till 10.1.2018.
The processing fee mentioned in my application was rs. 8260/-. I have paid rs. 3540/- on 15.11.17 of it via cheque. Rs. 4130/- is paid as legal fee on 23.11.17 via cheque. I approached the bank on 10.1.18 for sanction order.in between that period bank charged rs. 18, 260 as interest after 10 december 2017. Which after many negotiations with mr. Rohit, jr. Branch manager, in pnb, hfl return it via to my account. Again, on 11.1.18, bank charged ist emi of 34, 355/- from my account.. Dealing hands ms. Shweta and mr. Manoj, mr. Hemand does not gave responses, only told it will be done. They sometimes do not attend my call. Mobile no. Mentioned in my sanction order was also wrong which was also informed to them at the same time. But nothing has been done till yet

I made the registary on 15.1.18. Till now nothing has been done by bank, regarding repaying my emi. Again, i am doubting when 10.2.18 will come, bank again demand another emi.

How such stupid mistakes are done by your staff. When will they amend the mistakes or will harras the customers

Hi,
I am facing an issue with PNBHFL regarding insurance. As it was not mandatory but these people forcing and telling that it's mandatory. When we approach the concerned person he has not informed about insurance, after processing of the loan and withdrawing the processing fees, they included insurance in the sanction letter. Now they are not responding properly. I am very much disappointed. I need clarification on that. From few reviews and online search I came to know insurance is not mandatory as per RBI

I navinder singh, i did an inquiry for online property against loan. After that, i received a call from the pnb housing finance company rohtak and asked for documents. Then i send my property documents and a check to them in their branch. Pnb housing finance company applied for home loan only on its own, while i wanted a property against loan. After 40 days of his call i was told that we cannot give you this loan and a check was asked to me and i gave full assurance of giving me a loan. Todays 78 days have passed, i have not been given any loan pnb housing finance company and my account has been deducted 11800 rupees. I am serving solder in an indian army and i am a common citizen of india. As an indian citizen, i want to know from pnb housing finance company that this facility is given by your company in the name of loan. Please see my problem and please solve it quickly as soon as possible. Thanks

Dear sir/madam,

I am writing this mail after several discussion with pnb housing finance limited representative to cancel insurance plan associated with my home loan account no : hou/ban/1117/447851.

The insurance policy was taken and attached with the home loan without my consent. This is a case of cheating and fraud with customer. I need your help in resolving this matter before going for any legal proceeding.

Thank you for your attention to this matter. I hope you will consider this request and put it into effect as soon as possible.

Awaiting your reply.

Sincerely,

Pooja yadav

Virendra kumar yadav

Hi All

I have applied home loan ref (HOU/CHD/0817/424482) from PNB bank Branch Sector 35 chandigarh. I already has been paid processing fee + legal technical fee to them and all formality has been completed from my end.

Now when it time to of loan disbursement, PNB Branch officials Mr. Kamal Behal and Mr. Jatin Arora are compelling me to take insurance policy which I don't want to buy it. they are threatening me to cancel my loan application if I do not buy insurance policy. I have taken legal advise on this matter and found that insurance policy is not mandatory. I can't afford this forceful loan protector policy.

The branch official declined my request by saying we will not disburse the loan if I do not take policy.

I would like to request to PNB official to take proper action to resolve this issue. I am hoping to hear from you soon

Thanks
Tarsem Singh
mob: +91-[protected]
email: tarsem.[protected]@gmail.com
loan ref : HOU/CHD/0817/424482

I have requested for loan closing outstanding statement on 18th nov and without any call and mail they have closed my request when i have mailed on 2nd then also they not respond again i have mailed on 8th dec again no responce then i have given reminder on 22 dec then they have send the mail that you have pay money and give the written application for this they are behaving like they are making joke with me.
Please take proper action on this and help me to get my statement asap.
Thanks

I have applied for housing loan (Plot+construction) in pnb for 50 lakhs. All the process was going smoothly and loan was approved for 75%.

After making a payment of 25% to the seller and when i was about to get the loan, i am forced by pnbhousing loan manager to apply for an insurance along with the loan. This was not intimated during the initial stages of the loan processing.

If i do not apply for the insurance, they are threatening to cancel the loan and asking me to go to another bank. This is an unacceptable and unethical behavior from the bank. This is basically a insurance "scam".

This is nowhere mentioned in the terms and condition of pnb and it is against irda and rbi norms.

The insurance amount comes to 2.45 lakhs which is a large amount for me.

My loan application number is pnbhfl-hou/che/1117/461162.

Please take corrective action and help me acquire the loan smoothly.

Pnb manager name: appan raj

Thanks,
Venkatesh

Hi,

I have a loan from pnbhfl which is currently under fixed mode for 9.65%, while the rbi has slashed the rate and we customer are not getting any benefit of it.

I had raised the service request for the decreasing the rate of interest but relationship manager is saying there will not be any change can be made in the current rate.

Also when we ask for balance transfer, they are charging 3% on outstanding balance apart from the loan amount and other charges. This is simply loot of customer.

Please help and below are my details:
Name: vijay phadtare
Email: [protected]@gmail.com
Loan no: hou/pm/0116/260469

Regards,
Vijay phadtare

I had applied for housing loan in pnbhfl, chennai on 29-sep 2017 and submitted all my home loan documents. I got a reference number from pnb is ref/nhl/omr/0917/435691. Seeing my documents, mr. Nitin/vallarasu (Executive of pnbhfl) told me that they will sanction rs. 25 lac, since this not an fresh loan only the balance transfer from other bank. Still i have asked multiple times that, is it possible to get a balance transfer for my existing loan and available documents, before sign the application and provide the documents. But they double confirmed that loan get sanction. Believing on them i had given a icici cheque of rs. 6900/-. On 29-sep 2017 and submitted all the documents and another i spent 15000/- for paid my ec & housing tax and spent money to collected few documents from register office and also i spent lots of time to arrange all they required documents and later i was waiting and expected that the loan get sanctioned. Such a way i waited for three months but there was no any proper response from nitin/vallarasu. Whenever i called and following-up and they told some reasons and asked to provide some other new documents but still i have spent time/money to collect the documents and submitted to them. Still there is no any positive approach from them. Finally after 3 months i got frustrated and i called nitin on 5th december 2017 then they told me that, declined to sanction the loan. I asked the reason of declining in written and return of my documents, they refused the same. After i called multiple times vallarasu but he didn't pick my calls and he don't have a courtesy to call back the customer but he ran away.
So i request you to please return my processing fee amount and all other spent money to my account and return all my documents asap. Failing to do so, i will go to the court.

Due to this i totally frustrated and mental harassment for this three months and i spent almost 25000/- for this not sanctioned loan.

From

Loan account number : nhl/coi/1215/254218

Sub: requesting for the true customer support

Dear sir/mam,
Greetings!!!
With reference to your reply mail dated on 08/12/2017, we were totally disappointed with pnb as you were taken my principle amount nearly 22 lakhs without my knowledge. As i have mentioned before, being a non defaulter and high profiled customer, we felt humiliated by this kind of responses from our banking partners.
In the month of may 2017 we have given a written request and also emailed to the concerned branch manager, customer relationship manager for the enhancement of the current loan amount, but we have not received any prompt answer for this requisitions. So we have decided to foreclose the loan amount. We have discussed regarding this foreclosure procedure with the branch in person and also we have sent many emails, they said, only after 15 working days we will get the foreclosure details.
Many times we have visited the branch for to meet the branch head mr. Kathir, for further discussion but he was refused to meet us.
At the time of loan taken, the branch head mr. Kathir, customer relationship manager mr. Prabhu, and the person who facilitated our loan process mr. Muthukumar were promised us "no charges for part payment and foreclosure", even in our loan sanctioned letter the charges details was not mentioned, based on this confirmation only i have paid 6, 20, 00, 000 as a part amount for my principle outstanding, at the time of payment the customer support officer or manager should have explained us regarding this calculation, but no one explained us.

Even the mail confirmation for payment was also not transparent, only after reverting the details about the calculations. For many time, we receive a unclear reply mail with their own, right now we are in total distrust and disgraced about pnbhfl coimbatore's current attitude towards us and we strongly feel that it's a breach of trust.
So we kindly and humbly request you to review our profile and loan emi track record and help us to get my property documents and other related papers unconditionally without any foreclosure charges and other hidden expenses, please consider this as an emergency mail and do the needful as immediate as possible.

Sir, please find below highlighted email conversations between us and pnbhfl

To
The manager
Pnb housing finance
Avinashi road branch
Coimbatore
Sub: requesting for foreclosure
Customer id : 812261
Loan account number : nhl/coi/1215/254218
Dear sir,

Warm greetings from m. Vasantharaju!!!
I am having a loan account in pnb housing finance from 31st dec 2015. I would like to
Inform you that i wanted to close the account for personal reason.
According to the email which was been received on 20/11/2017 the balance amount of
Rs.64240470/- will be paid in 24 hrs time and i kindly request you to do the needful as
Immediate as possible.
Thanking you
Yours truly
M. Vasantharaju & n. Muthusamy

Dear customer,
Thank you for writing to pnb housing finance limited. This is an automated response to your e-mail. We will respond to you within 3 working days.
We appreciate your cooperation in the interim.
We are pleased to inform you that we are now live with online access. Please click https://customerservice.pnbhousing.com/myportal/ to enjoy hassle free online services.
Sincerely,
Pnb housing finance limited

Dear sir / madam,

This is to confirm receipt of rs. 62000000/- towards part pre-payment made in your loan account number nhl/coi/1215/254218. Kindly note the updated details of your loan account as mentioned below:

Principal outstanding after part pre prepayment: rs. 4371039.87/-
Balance tenure: 8 months
Emi amount: rs. 650430/-

In case of any query or clarification, you may write to us at [protected]@pnbhousing.com from your registered email id.

Regards,
Pnb housing finance limited

From: ishan foundation [mailto:[protected]@ishanfoundation.com]
Sent: 08 december 2017 11:53
To: coimbatore ; kathirvel subbiah
Cc: p prabhu ; 'ishan foundation'
Subject: fw: fwd: need clarification for the balance principle
Dear sir,
With reference to our statement of accounts loan account number nhl/coi/1215/254218 which was received from you on 27/11/2017, the total outstanding principle was rs.64240469.98
In which we have paid the part principle amount of rs.6, 20, 00, 000 as dd on 07/12/2017. So the balance principle should be rs.2240469.98/-only
But you have mentioned as rs.4371039.87/-is the outstanding principle, can you please give me the clarification for this amount calculation and other details as immediately as possible

Dear sir/mam,

Greetings from pnbhfl!!

Please find the below calculations.

The loan o. S as on 10/11/2017 – 64240469.98.

Partpayment done on 07/12/2017 – 6.20 cr. (Part payment charges :3 % + 18 % gst) = 2194800.

6.20 cr – 2194800 = 59805200.

Os =. 64240469 – 59805200 = 4435269.98

4435269 – (64230 principal adjustment for the month) = 4371039 principal o. S