Punjab National Bank Housing Finance [Pnbhfl] — continues increased interest rates in a 10 months, and after repo rate deduction denying to reduce

Address:

Gorai -1, Mumbai City, Maharashtra, 400091

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]