Punjab National Bank Housing Finance [Pnbhfl] — fraud by pnbhfl, tenure doubled without notice and no principal deducted in 2 years

Address:

E-1903, Charms Castle , Raj Nagar Extension, Ghaziabad, Uttar Pradesh, 201001

I’ve availed a home loan of rs. 37 l from pnbhfl about 2.5 yr back for 360 months tenure at an interest rate of 8.5%.

Issues:
1) interest rate: in last 1 year the interest rate has been revised 3 times & it is currently 9.85%. While rbi rates has dropped recently, instead of reducing pnbhfl just increased it last month once again.

2) my emi has been revised 4 time post 1st year & has gradually increased by close to rs. 3000 (Incremental amount)

3) my basic understanding of loan says that if emi is increased then my loan tenure should remain the same. When i went to complaint about the issue i got another shock that my loan tenure has been increased to 720 months which is exactly double than what i had opted for. Its beyond any logic in my head as to how my tenure can be doubled. An increase of tenure by few more months is understandable (Though it shouldn’t be when my emis are increasing), but doubling to 60 years sounds like a crime.

So for 37 lakh that took loan, i am returning 2.15 crore back to bank.

This is huge scam and i have seen so many people cheated same way by pnb hfl.

They double your tenure without your notice and stop deducting principle amout.

I took loan of 37 lakh and after paying emi for 2 years close to 7 lakh inr, i closed my account as foreclosure by paying 37.5 lakh..

So in 2 years i just lost 7.5 lakh inr and not a single penny reduced from my loan amount.

4) all these has been done by pnbhfl without a single one intimation. This akin to cheating. As a customer if one lets their guard down for even a quarter things can change completely in the background.