Bajaj Finserve — Foreclosure charges on personal loan - 406sal20939642

Address:	Nagpur, Maharashtra, 440027
Website:	www.bajajfinserv.in

Hi,

I have recently taken a personal loan from bajaj finserve, however when i availed a personal loan they have clearly mentioned that i will not have to pay any foreclosure charges after 1st emi.

When i have sent a mail to bajaj finserve to foreclose my loan after 3 emis, they have sent the below mail stating i have to pay 4.60% foreclosure charges incl service tax due to change in policy. This is seriously unfair and i am not receiving any support from bajaj's grievance redressal team.

Please help.


Dear customer,

Thank you for writing to us at bajaj finserv.

With reference to your query regarding foreclosure charges, we would like to submit that bfl was amongst the first between all financial institutions to start with the practice of zero foreclosure charges whilst competitors were charging the same to all customers.In line with the policy we offered the above facility to you with zero foreclosure charges.

However, basis the prevailing market condition the company decided to apply foreclosure charges to all our customers who foreclose the loan. Bajaj finance always strives to maintain best possible balance between the customer's interests & current economic conditions. All practices hence adopted are keeping in mind our aim to achieve better customer service with a competitive edge.

Foreclosure charges of 4% + (Service tax15%) i. E. 4.60% will be applicable on balance principle amount.

Minimum sum of 3 months emi amount is required to be paid to process part prepayment request and you need to pay 2.30% charge on that amount. If you wish you can pay the part payment amount more then sum of 3 emi amount, but you also have to pay the charge on that. The charges cannot be waived off.

In view of the above fact, we wish to inform you that we would not be able to waive off the said foreclosure charges.

For any other query or assistance, please feel free to write back to us at [protected]@bajajfinserv.In

Assuring best services always.

Thanks & regards

Bajaj finance team