I have a home loan account with PNB and generally track each transaction on that account regularly.
Generally they post the interest amount as a credit entry followed by EMI amount as a debit entry in each month.
I see interest rate has been updated from 7.1 to 8.5 on 31st Aug and noticed the following:
1. I was charged almost double amount as interest for Aug'23 compared to last month.
2. Interest Amount for Aug'23 is now greater than EMI amount which seems to be not possible at any point.
I went to branch and realised other people also faced the similar issue. Have submitted a written complaint but very very disappointed as no way I'm able to match their calculation.
If anyone in this forum has home loan with PNB and have faced similar problem, kindly update here to understand if this is a mass issue.
Generally they post the interest amount as a credit entry followed by EMI amount as a debit entry in each month.
I see interest rate has been updated from 7.1 to 8.5 on 31st Aug and noticed the following:
1. I was charged almost double amount as interest for Aug'23 compared to last month.
2. Interest Amount for Aug'23 is now greater than EMI amount which seems to be not possible at any point.
I went to branch and realised other people also faced the similar issue. Have submitted a written complaint but very very disappointed as no way I'm able to match their calculation.
If anyone in this forum has home loan with PNB and have faced similar problem, kindly update here to understand if this is a mass issue.
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