Complaint Details

Status	:	Closed
Complaint No	:	0101127/2017
Category	:	Banking
Date	:	21-11-2017
Subject Line	:	Regarding Home Loan
Complainant	:	Regarding Loan From PNB
Address	:	Building Tulip , tathwade Pune
Complainee	:	Panjab National Housing finance Ltd
Address	:	Pimpri chinchwad pune

Complaint Details
Respected Sir,

As discuss with Mr. Sahu sir i am writing this email , regarding our home loan no Account no HOU/PM/0116/264116

we have following issues regarding the same below all points & issue discuss with ur branch regional Sales Manager:-

1) As per my discussion with PNB manager loan amount Rs 33,00,000 as per my fund requirement, as he informed me that as i required maximum funding I need to take insurance compulsory along with loan hence total amount of loan is up to 34,00,000 .supporting sanction letter attached for the same.But actual disbursement was made me towards Flat Rs 31,90,000 + 1,59,000 insurance total loan amount was 33,49,000 without intimating me for such amount of insurance of Bhartiy Axa & ICICI Lombard,

2) Not a single mail or oral communication stating that this much of amount disbursed from my loan amount to me along with loan . Also i am not aware about insurance policy terms & condition since no policy document shown to me. Also all Policy premium paid one time payment though there is option of monthly ECS which create burden of high interest & EMI for me.without my consent.

This all came to know when i request 1st Loan statement from PNB.

I know there is mistake our side that no read each & every page while signing disbursement kit but situation for us was little stressful & complicated & we faith in branch employee from that point we made big mistake. i signed all disbursement papers at my home in front of branch executive but i signed it before disbursement since time required for disbursement was late at that time i am pregnant need to go for delivery at my home town, also when my Husband signed paper before disbursement in too hurry while attending his office duty & faith on youre bank manager & executive that they told us all figure & facts correctly but not the fact like this they misguide us.

3) After all this i reached to respective manager to ask about loan amount 31,90,000 that we faced shortage at the time of possession of my Flat. Manager promise us that not to worry I will provide top up of home loan after six month. After six month when again I reach to him he asked me provide possession letter by paying builder remaining amount , only then he can apply for top up , which he not cleared initially. So still faith in youre Bank services i arrange money from market & paid builder . After submitting possession letter he filled case for Top of loan & take two month time &in between processing fee debit to my account near about Rs. 4000 .After two month he said me that valuation is negative hence it was not possible for top up attached is valuation report. Then I got fully stressed & asked him how I can paid my financial liabilities then he suggest took personal loan & we try after some time again for top up loan , as my need at that time I agreed accordingly my husband send message him please make us available personal loan at lower interest rate so that we manage our monthly ECS he replied OK to my husband.

After that he send some HDFC executive for Personal loan & (we suppose we get personal loan from PNB bank only) who provide us loan at interest rate 12 % , which we can not afford & then from that time I am trying to reach that person how now I manage my liability & how I paid them he not answering phone & even emails & even not meet at branch ,supporting mail attached.

With all this false promises & misguidance I visit PNB chinchwad branch to inform about all this to any senior member , but executive in branch not allow us & tried solve at there desk only.

Then I arrive at decision to transfer my home Loan to other banks tried a lot but no bank funding for Insurance part of loan & finally with (HDFC Ltd) I am going to transfer, now I want to close a part of insurance by my own pocket to PNB which is taken by PNB manager without my consent . Now i want to report this issue with PNB head quarters all ready i informed all in one service call & yesterday to Mr. Sahu Sir.

Please let me know after all this extra burden in monetary terms for me & suffer mentally due to all this services from ur branch how PNB compensate this ? Is any benefit I will get while closing Insurance part with while closing loan with PNB or what branch can do now?

Also if I want to bear all financial burden due to services like this I am going to disclose this issue with higher Banking sector services as other customer not suffer like this in future.

Thanks

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