Dear Team, I has a loan with PNB Housing Finance and closed recently when loan was sanctioned the IR was 8.55%/ annum, and due to corona my account was irregular and PNB increased the Rate of interest to 12% per annum, due to this when i borrowed the loan it was 25.80 lacs and when i closed it is still 25.43 lacs. Also i deposited all the dues on 31st of May, and they closed my account on 3rd of june the access interest of 4 days also charged and they are also in practice to give the fore closure letter in 21 days and they have a window from 2 to 20 of every month to give fore closed letter and after 20 they closed the window to close the account and issuing the fore closre letter So please guide how i receover the access money which i paid in terms of interest
You have stated that you paid all the dues on 31st May. Whether the dues were paid by online transfer or by cheque? If the dues are paid online, the account must be closed on 31st May itself and no further charges are required to be paid. However, if the payment was by cheque, the actual date of receipt would be the date on which the cheque got cleared. 31st May was Friday. Considering that 1st June was Saturday and 2nd June was Sunday, the cheque would get cleared on 3rd June, and the account would be closed on that day. If you have paid the dues online, the loan account must have got credited on 31st May and in that case whatever excess interest was charged to you, must be refunded by the company. If you have taken up the matter with PNB Housing Finance Company by letter or email, and if there is no response, you may file a complaint under RBI Integrated Ombudsman scheme. Please do not forget to obtain complete loan account statement and no dues letter from the company and ensure that the company clears all your securities.
Our Experts

Shirish Shanbhag Shirish Shanbhag has an MSc in Organic Chemistry, Diploma in Higher Education, a Diploma in a French and has completed his LL.B. in first class, in 2021. Before his retirement, he was a junior college teacher at Patkar College from July 1980 to May 2012, where he taught theoretical and practical chemistry. Post retirement in 2012, he started providing guidance and counseling to people on several issues, with a specific focus on co-operative housing society related matters. Adv Shanbhag has a kee

AV Shenoy AV Shenoy hold degrees in both Mechanical and Electrical Engineering from VJTI, University of Bombay and a Post Graduate Diploma in Industrial Management from Jamnalal Bajaj Institute of Management Studies. Worked as a Design Engineer in Electrical Business Group of Larsen & Toubro Ltd. at Powai from October 1969 to September 2001 and retired as Dy. General Manager. Also worked as a Facilitator/Trainer for implementation of Total Quality Management (TQM) and ISO 9000 in the organization. Since r

Abhay Datar Abhay Datar is a consumer activist. After working at Bank of Baroda for about 29 years, he retired as IT Manager. After retirement, Mr Datar joined Consumer Guidance Cell of Mumbai Grahak Panchayat (MGP) in 2008 and solved many cases related to banking including online fraudulent transactions, misuse of credit cards and ATM cards. Also handled cases related with mobile banking frauds and mediclaim. He was a Member of the Managing Committee of MGP till March 2021.

Shailesh Gandhi Shailesh Gandhi is a former Central Information Commissioner for the Right to Information Act. He is a successful RTI activist and a regular speaker at Moneylife Foundation.

SD Israni Dr SD Israni is an Advocate & Partner of SD Israni Law Chambers and has over 37 years of experience in the field of Corporate, Commercial and Securities Laws. He has simply written the book on Indian securities laws, copies of which he kindly donated to Moneylife Foundation library. Dr Israni's professional achievements are formidable. He was a member of the Naresh Chandra Committee for simplification of Company Law relating to private and small companies. He has been on SEBI's committee on

Dr Rajendra Ganatra Dr Rajendra M Ganatra, was a banker for two decades and is now a registered Insolvency Resolution Professional, restructuring consultant and visiting faculty for MBA. He has more three decades of experience in project finance, asset reconstruction and financial restructuring. He is a Registered Insolvency Professional and has been the former MD & CEO of India SME Asset Reconstruction Co. Limited

Samir Zaveri An extraordinary activist who has dedicated his life to the cause of railways, with a mission to help every rail commuter and accident victims, and improve Railway safety.

Yogesh Sapkale Yogesh Sapkale is Deputy Editor of Moneylife and writes on legal, RTI, and consumer issues

Sucheta Dalal Trustee - Moneylife Foundation

NOTE
Please do not share in your query any personal details like name, mobile number, email ID, address, bank account or other account details.

To ask a question

Please
Sign Up or Sign In
with
than you