Bajaj Finserv — Prepayment charges (Foreclosure charges)

Address:

Aurangabad, Maharashtra, 431001

As per my sanction letter, we are not suppose to charge foreclosure charges, after 6 instalments, but even after regular repayment of 31 instalments, when we asked for foreclosure, they forward the letter with 2% foreclosure on lap and 4 % foreclosure charges of 4% on additiona loan. Ridiculous way of torchuring clients. After its clearly mentioned in sanction letter and even rbi guidelines says after may, 7, 2014, no bank can charge pre payment charges to individual term loan borrowers.