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The Hindu
The Hindu
National
The Hindu Bureau

Govt. officer’s complaint of fraud against PNB housing finance firm dismissed by consumer panel in Telangana

Insurance Hyderabad op

A consumer commission dismissed a complaint filed by a scientific officer working in a Government of India agency and his wife against Punjab National Bank Housing Finance Ltd.. They had alleged that they were charged a higher housing-loan interest rate and a sum in insurance premium without their knowledge.

The District Consumer Disputes Redressal Commission-II, Hyderabad, was dealing with a complaint from Suresha Prabhu and wife Suma Prabhu. The opposite parties (OP) were Punjab National Bank Housing Finance Ltd. and Tata AIG General Insurance Co. Ltd..

The complainants stated that they obtained a housing loan of ₹65 lakh at an interest rate of 8.35% per annum. While downloading a statement of account, they noted a discrepancy in the interest rate, which turned out to be 8.5% per annum. An insurance premium of ₹95,000 was also noticed.

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