[Resolved]  Bajaj Finserv Lending — Violation of foreclosure charges clause

Address:

New Delhi, Delhi, 110059

I have taken a loan from bajaj finserv at the fixed interest rate of 14% of 5, 70, 000. My loan account no is “401spl14845296”. When i applied the loan in the document’s terms and condition it is clearly mentioned that there will not be any charges on foreclosure and prepayment. Even after loan disbursement in the service guide book i received a letter with the same terms.

I like to close my loan and requested for the foreclosure letter on 16th june 2016, received the same on 17th june 2016. But the foreclosure letter i received from bajaj having 4% foreclosure charges plus taxes on the outstanding principal amount. When i inquired through their customer care i came to know that company has made the changes in terms as other companies are also giving loan on same condition and i have to bear these charges. I told them i am totally disagree to these new terms, and told them they can apply these new terms to their new costumer. This is not ethical. Seams they are running a “mafia” to loot hard earned money of the people. I have taken the loan from them on these condition as these are the benefits even they are promoting to take loan with these benefits and advantages otherwise i was getting loan from other banks with the lesser rate of interest.

Kindly look into the matter and help me to close my loan with the terms which was we agreed

Request you to do the needful at the earliest.


Thanks and regards

Rajeev ahlawat