Bajaj Finance — Customer harassment over loan closure and extra insurance policy

Address:

Mumbai City, Maharashtra

This is with regards to your customer Sheetal Surve from Mumbai. She bought one LG Washing Machine from Croma, Sion, Mumbai. For the products EMI amount is 845.00 but EMI amount deducted (thru ECS) per month is 1107/- which is more than the amount what it supposed to be. Initially She ended up overlooking the issue for several months but one day she I check her bank statement and realized that an extra amount of 262.00 being charged on every month because of BALIC PREMIUM CD LOAN (405BAL[protected]. When she brought this to notice to your representative (Mr Lalchand) at Croma, in June 2013, he said there is a mistake of adding additional insurance policy to her name and they will refund the money in 3 months. Post this discussion the lady assumed that the matter is settled and she will get back the extra payment (Rs 1600) made by her in 3 months through cheque. But her troubles only increased, as another one of your representative visited her house sometime later on 21/July/2013 and explained to her that she needs to pay additional 852.00 as a last EMI, post that money will be refunded. Again she made the said payment in cash to the represetative. The guy also made her sign her a letter dated 21/07/2013 for closure of the extra loan (405BAL[protected].[Please see attached documents.] To increase her trouble, there are now calls from these two phone numbers [protected] (claims to be a lawyer from delhi called Anil Kumar tripathi) and [protected] (Mr Singh). Who keep calling her and tell her she needs to pay 1500 more otherwise they will slap a case on her in Delhi court and she will have to pay fine of Rs 9000. Height is that yesterday they actually told her that the case is filed in Delhi court and she will be summoned there. This is in-spite of her signing a request form two years back for closure of the extra insurance policy which she has not even opted for in the beginning, This lady’s mother works as my house help and I came to know about this entire episode yesterday. Have now decided to take the matter in my hand as the poor lady is really distraught because of extra amount deducted from her account. And the mental trauma your two representative (whose numbers are mentioned above) are causing her and her mother. Here I fail to understand how you are running two loans against her name and making her pay the EMIs for both. The second loan was not something she opted for. To top it all no document was handed over to her at the time of processing the loan by your executive at Croma outlet in Sion. And even after assuring her that the extra loan will be closed, it is still shown as active in your records. I have downloaded her loan forms from your website it clearly shows manipulation of loan application form, as extra amounts were added to form after Ms Sheetal Surve signature was taken. And there is enough material on consumer forums to arrive at conclusion that this is common tactics Bajaj Finance loan executive adopts to fool innocent common citizens. The modus operandi is same in all cases. I have also visited Croma store today and met your executive Virendra and explained him the situation. To which he again gave us a new closure request form and said you need to submit it with customer care. I also spoke to your Croma Sion based representative Mr Lalchand (telephone no[protected], he was not at store today), he said he will get back to me on this by tomorrow morning and admitted that no formal documentation was handed over to Ms Sheetal regarding the policy or any other paper work was shared with her. I would request you to look into this matter at the earliest and take necessary action that is closing of the two loan accounts and refunding the extra amount she has credited to you, the amount is Rs1600. Kindly close both the loans against her name with ID 4050CD00396353 and 405BAL00396355. Appreciate an early reply and effective action from your end. You can reach me at gtiwari.bajaj.[protected]@gmail.com. Regards, Garima