Punjab National Bank [PNB] — loan not satisfied

Address:

560035

Hi All,

Please see the below trailing email for cancellation of the insurance policy.
I was not knowing insurance is optional before the disbursement and registeration.
When i asked this to Prasad before the registeration and disbursement, he confirmed its mandatory.However now he is changing his words and he is telling its optional.So before disurbsement and registeration commitment was different and after disbursement the commitment is different.

Also before the disbursement and registeration i asked why the insurance amount is 1.85Lakhs.They said its for Property.Two days back i asked the same, they are saying its for both Property and health insurance.This thing they didnt communicated to me earlier and more over about the health insurance details was not there in the sanction letter.Now my question is why i need to pay the insurance amount(1.85 Lakhs) from my pocket.Amount is too huge.

For 1.85 Lakhs with the Rate of interest 8.45% for 30 years it comes nearly 6 lakhs.

So now i want to cancel the insurance and request you to look into this issue at the earliest

If not, the final option would be i need to transfer my whole loan to some other bank.So now the decision in your hands.

I am totally disappointed the services with PNB and hence i won't refer any of my friends/colleagues/relatives.

Also i wrote an email to Vijay(General manager).Still now i haven't got any update from him.Worst service.This issue was going on from last 1 month.
Account number-HOU/MRH/1017/436282

Cancel my insurance immediately.

Regards
Aravind.