Punjab National Bank Housing Finance [Pnbhfl] — Request for kind intervention regarding refund of loan preclosure charges unappropriately levied byPNB Housing Finance Limite

Address:

PNB Housing Limited Nagpur

I am salaried person working as an Assistant Professor with Nagpur University Nagpur.I had obtained loan against property(LAP) on 11/06/2018(Account No. NAG/0518/536015) house renovation and education purpose of my children.As my daughter has passed her HSC exam in summer 2021 and aimed for higher education, I opted for loan transfer from PNB Housing Limited, as the rate of interest were on higher side(11%), to Axis Bank Nagpur for comparatively lower rates of interest and financial assistance required for educational purpose. After receiving Pre closure letter for the above loan, I was shocked to know that I was charged a very huge amount of Rs.1, 18, 407 (One lakh eighteen thousand four hundred seven )as pre- closure charges .I had clearly mentioned the purpose of loan is for house renovation and personal and educational purpose of my children.The above loan was not taken for business purpose as I am a government salaried person. Accordingly, no preclosure charges should have been levied as per existing RBI norms then. But the present loan provider PNB Housing Limited Nagpur has mis interpretated the RBI norms, I suppose as per their convenience for illogical monetary benefits. More ever, I was never informed in writing about the so called changes in PNB Housing Limited to charge for LAP for salaried person obtaining loan not for business. I suppose, PNB Housing Limited must have mis interpretated the RBC norms and taken the huge pre closure charges ignoring the fact that the above loan was taken for renovation personal and education purpose and not for the business purpose. I applied for Preclosure statement in August 2021 and was charged Rs 885, but I didn't get the Pre closure statement till 29/10/2021.Mean while I was asked to put request emails for the closure many times, given the reason that I could not be contacted by the customer care executives for the so called settlement and offers for which I had personally visited the Nagpur office and clearly mentioned not to opt for it.Their deliberate and intentional approach had caused undue stress and loss of time and also caused delay in joining with the new loan provider Axis Bank Nagpur. The preclosure amount of Rs. 1, 18, 407 has also caused a great economic interruption in the educational advancement of my daughter. You are requested for humanitarian consideration and relieve me from the mental and monetary loss of Rs. 1, 18, 407 on account of inappropriate interpretation by PNB Housing Limited, the amount which would have been definitely utilised for the educational betterment of my children. Hoping for early consideration .