PMAY SUBSIDY
1 year ago
i took housing loan from PNB Housing finance limited, as per bank they had returned PMAY subsidy back to govt informing me that there is an outstanding due amount on my loan account. Could you please advise whether this a valid reason ? I cannot find such rules anywhere.
I was unable to pay some EMI on time during covid situation due to which i got heavy penalties from bank if the form of bouncing charges, legal charges etc. of around 40K . I had asked for some waiver on penalty which i did not receive from Bank.
A.Dear Client
Regarding the issue with the housing loan from PNB Housing Finance Limited, if they have claimed that the outstanding amount on your loan account resulted in the return of the PMAY subsidy, you may want to review the terms and conditions of your loan agreement, including any specific clauses related to the PMAY subsidy. It's essential to understand the rules and regulations regarding the disbursement and recovery of the subsidy amount.If you are unsure about the validity of the bank's actions, you should consider reaching out to the customer service department or the grievance redressal cell of the bank
Regarding the issue with the housing loan from PNB Housing Finance Limited, if they have claimed that the outstanding amount on your loan account resulted in the return of the PMAY subsidy, you may want to review the terms and conditions of your loan agreement, including any specific clauses related to the PMAY subsidy. It's essential to understand the rules and regulations regarding the disbursement and recovery of the subsidy amount.If you are unsure about the validity of the bank's actions, you should consider reaching out to the customer service department or the grievance redressal cell of the bank
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A.Dear Client,
Individuals who already have a pucca house in the country or have availed benefit from a central/state government-run housing scheme earlier have an annual income more than ₹ 18 lakhs; are not eligible for PMAY Home Loan. yet, this outstanding due amount on loan account as a reason for returning PMAY is not mentioned anywhere. Consult the bank manager once to have a talk and know if it can be a reason.
Individuals who already have a pucca house in the country or have availed benefit from a central/state government-run housing scheme earlier have an annual income more than ₹ 18 lakhs; are not eligible for PMAY Home Loan. yet, this outstanding due amount on loan account as a reason for returning PMAY is not mentioned anywhere. Consult the bank manager once to have a talk and know if it can be a reason.
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Christopher Surendiran
Replied 1 year ago
Thank sir for your valuable advise.
A.Dear Sir,
In many cases banks are finding out one or the other reason to deny the barrowers from getting PMAY subsidy. You may go to banking ombudsman or the court.
In many cases banks are finding out one or the other reason to deny the barrowers from getting PMAY subsidy. You may go to banking ombudsman or the court.
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Christopher Surendiran
Replied 1 year ago
Thanks sir for your valuable advise.
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