Punjab National Bank Housing Finance [Pnbhfl] — Increasing ECS without the knowledge of loanee and exorbitant interest levied

The Banking Ombudsman/
The Principal Nodal Officer for Customer Complaints
PNB Housing Finance Ltd
Sub:- Grievance towards the Housing loan repayment of self-immediate action requested-reg.
Ref :- Loan Account Number HOU/BAN/0715/233479 in favour of self ( Renju Krishnan).
Respected Sir,
I, Renju Krishnan (Customer ID 762414), now residing at 1001 Feather Reed dr, Leander, Texas-78641 had availed a Residential Home purchase Loan of Rs.41, 00, 000/-(Rupees Forty one lakhs only) from your esteemed organization for purchasing a 2BHK Flat at C-202, 2nd Floor, Block C, Bren Woods, Doddanagamangala Village, Begur Hobli, Bangalore South Taluk, 82/2and 82/4, Bangalore, Karnataka, India-562122 vide above account number in 2015. The loan was sanctioned on 29.7.2015 under floating rate type.
Following was the disbursement details:
1. 31.7.2015-Rs. 35, 00, 000/-
2. 30.1.2016-Rs.5, 98, 201/-
3. 30.1.2016- Rs. 1, 799/-
Total - Rs. 41, 00, 000/-
Recovery started immediately after the disbursement of loan amount. Repayment tenure was fixed at 240 ECS and the monthly installment amount in the first year was Rs. 33, 000/-and the last was Rs. 40163/- (PNBHFR-17.17% and margin – 4.4%). Sir, it was embarrassing and shocking when I took the statement for the period from 1.7.2015 to 9.7.2023, that the principal paid till that date was only Rs.370247.62 and the balance outstanding was 3729752.38.
Subsequently loan tenure was increased to 420 months which was not brought to my notice. The current rate of interest is indicated as 12.77%. For the last 8 years I paid an amount of R 36.092 lakhs and out of which only Rs.3.70 lakhs is the principal paid and the balance of Rs. 32.39 is accounted as interest.
I was not informed of such a change in the repayment tenure from 240 to 420. Is not the Banking norms demand such a condition? Assuming an ECS of remaining 420, I may have to find roughly another Rs. 168.685 lakhs or more. Thus the total amount payable to the bank against a Home loan of Rs.41 lakhs would become Rs. 204.777 lakhs.
Sir, I plead your good self, kindly look into this anomaly and rectify wherever correction demands. We have shifted the account from PNB to ICICI in September, 2023. This submission is delayed for completing the pre closure procedure of loan in PNB.
Once again I request you to do an enquiry into this and give me a reply so as to proceed further.
Yours faithfully
Renju Krishnan
(Customer ID 762414)
1001 Feather Reed dr,
Leander, Texas-78641
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