Bajaj Finserv — Personal loan - foreclosure charges cheating

Address:

Thane, Maharashtra, 421501

Bajaj confirmed for zero foreclosure charges while taking loan.
Now that interest rates have fallen they have started cheating their customers, suddenly i got notification from them for charging 4% foreclosure charges.
No proper response from their customer care.

Bajaj finserv has recently revised charges on the loan and strangely applying it to already existing loan customers. This is truly ridiculous to see such unlawful fearless acts at national level. This company is tempting people with false promises and literally exploiting needy people. So called customer care saying they are charging 4.6% foreclosure but in foreclosure letter they are adding it under "other" section and very cleverly mentioning separate section which says 0% foreclosure charges. On paper they are not showing it as foreclosure charges. I am tired of contacting them.

I would say rbi should cancel license of such players and protect public interest. It is very serious to have such players in any kind of industry. One can imagine, we invest our money for our family future and such player's at the maturity or claims changing terms of an agreement so as to they have to pay out less.

Sebi should also delist such companies and should not allow to collect money from public.