[Resolved]  Bajaj Finserv — Charging high interest as per the agreed terms.

Address:400070

I applied for a loan of 298000 from Bajaj Finserv last year for 5 years @ 13% flat.The EMI charged is 8195 per month.Last month I raise a request for foreclosure, then came to know that they are charging 21% per month interest.I have paid 11 installments out of 60.Now the foreclosure amount they are saying to pay is 278000 including 4% closing charges.I have paid more than 90k in EMI and the balance is coming to 278000 for closer.I want to close this loan as soon as possible.But want the closer amount to be rectified.

Please help me in getting this sorted.
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Aug 6, 2021
Complaint marked as Resolved 
Bajaj Finserv customer support has been notified about the posted complaint.
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Hi there, request you to share your loan account number/ customer id/ registered contact details and write to us at [protected]@bajajfinserv.in so as to assist you further.
Hi there, Greetings from Bajaj Finserv! With reference to your query regarding foreclosure charges, we would like to submit that BFL was amongst the first between all Financial Institutions to start with the practice of zero foreclosure charges whilst competitors were charging the same to all customers. In line with the policy we offered the above facility to you with zero foreclosure charges. However, basis the prevailing market condition the Company decided to apply foreclosure charges to all our customers who foreclose the loan. Bajaj Finance always strives to maintain best possible balance between the customer's interests & current economic conditions. All practices hence adopted are keeping in mind our aim to achieve better customer service with a competitive edge. In view of the above fact, we wish to inform you that we would not be able to waive off the said foreclosure charges. For any other query or assistance, please feel free to write back to us at [protected]@bajajfinserv.in.

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