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Pramod Uchitkar (TC)     20 October 2021

Nri housing loan conversion from nri to resident indian

Dear Sir

I took a housing loan from PNB Housing Finance Limited when I was NRI residing at Saudi Arabia. I submitted all my income proof and residency documents from Saudi Arabia. and then only PNB HFL approved my housing loan to purchase a Plot. 

Now I loss my job in May-2018 and I have to come back to India permanently. since that time I was trying to repay installment somehow. I did not get a good job according to my experience because of that I did not have a proper income source to manage my family expenses with 2 daughter.

I request in written to bank to restructure  my loan and reduce EMI by increasing Tenure so that I can pay regular EMI without Fail. Bank refused to do it, They said loan can not be restructure if there is installment due is balance.

At the time of loan approval bank decides EMI based on foreign Income. and Now if I don't have foreign income how can I pay that big installment without proper income source.


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