Bajaj Finserv — Huge Fixed Foreclosure Charge - for Hybrid Flexi Personal Loan

Address:

5th Floor, B2 Cerebrum IT Park, Kumar City Kalyani Nagar, Pune 411 014 Maharashtra

Sir,

I have a Bajaj Flexi Hybrid Personal Loan Loan Account Number: P402PSA5732415 disbursed on 15/10/2022 . The total Loan amount was 21.75 Lakh and I have made part payments of Rs 19, 19, 503 and only 2, 55, 497 pending as utilized.

Currently I am trying to foreclose this loan I noticed that Bajaj charges me a big "Fixed" foreclosure fee of 1, 02, 660.00 no matter how much I repaid.

I strongly believe this is unethical as normally foreclosure charge will be taken for pending outstanding amount.

I believe this Fixed foreclosure fee against the Total Loan amount is against RBI Guidelines on personal loans.

RBI Circular :
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11646&Mode=0

Please explain how and why Bajaj charges such a big fixed Foreclosure charge on Total Loan Amount instead of pending Amount. Please explain with related RBI guideline which allows Bajaj to take Foreclosure charge like this. [ Please dont show me your criteria/condition on this. I dont give any value to it as I have experience with Bajaj Suraksha Loan "Product" which you deny customer to Cancel/surrender/transfer against IRDA policy...But I got it refunded through IRDA and Maxlife/Bajaj as it was a pure cheating Product. ]

I request Bajaj to follow RBI Guideline, allow me to foreclose by Hybrid Personal Loan without any Foreclosure Charge.