I had availed a home loan balance transfer and top-up from baja finserv ltd (Bfl), last year, october 2017. Home loan amount - inr 38, 65, 000 and topup of inr 49, 00, 000 the same was issued and disbursed in 24 january 2018.
As explained, for flexi home loan, interest is charged based on amount utilized. For that, i was asked to transfer back the top-up amount to the virtual account, so that interest is not charged.
However, as explained by their sales rep - mr akshay gupta, there was a mistake made by bfl operations team due to which the virtual account number was not created and hence was not able to transfer back. After 4 months of repeated follow-up they finally fixed the issue and virtual account number is created.
Post this, there were 2 issues that i feel is unethical practice by bfl and the mistake is not actually a mistake but a practice to fleece customers and there may be more like me.
1. The 4 months which bfl took to open the virtual account, then whole amount of inr 49 lakhs was lying in my account, for which i paid interest. This, i feel they do it just so they earn on the interest, since the customer is not able to transfer back to the virtual account due to the so-called mistake.
2. On creating of new account, they have charged me extra interest, and my net disbursed amount was increased to inr 49, 35, 800. Inr 35, 800 more that what was disbursed.
I feel this is unethical practice that bfl is doing to fleece customers. Please do something about it.
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