[Resolved] Bajaj Finance Ltd — Personal Loan Rate of Interest very high | |||
VERY HAVY INTEREST RATE MY LOAN RS 34,000 IN THAT I HAVE GET ONLY RS 30,907 IN MY ACCOUNT THEY DEDUCT RS. 3,097 (UPFRONT INTEREST CHARGES & GROUP INSURANCE PREMIUM) (THIRTY THOUSAND NINE HUNDRED AND SEVEN) LOAN PERSONAL LOAN FROM FINANCE CO . BAJAJ FINANCE CHARGED ME RS 1632/- EMI FOR 36 MONTHS.I HAVE TO PAY RS 58752/- FOR 30907/-. SO INTEREST IS[protected]=27845/- EXTRA I HAVE TO PAY IT IS 90.09% INTEREST RATE (27845x100/30907 ) SO MY COMPLAIN IS HERE BELOW:- 1. IS RBI ALLOW ANY FINANCIAL CO TO CHARGE 90.09% INTEREST ? 2. IS IT LEGAL TO CHARGE RS 27845/- INTEREST FOR PRINCIPAL AMOUNT OF RS 30907/- 3. I AM PAYING RS.1632/-EMI EVERY MONTH IN RS THAT RS 1632/- I DON;T NOW WHAT IS MY PRINCIPAL AMOUNT & INTEREST AMOUNT I 4. RS 1632/-EMI x36 MONTHS= RS58752/- SO RS 27845 INTEREST ON RS 30907/- IT IS VERY HAVY RATE 90.09% I WANT REQUEST TO NOTE MY COMPLAIN. RBI SHOULD NOTE THE CALCULATION THANKS WITH REGARDS. Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
 4 Comments | |||
Comments
Dear Prakash,
Thank you for sharing your Loan Account Number.
We have already initiated the process of resolution of your query.
You shall hear from us in the next 48 working hours.
During this time, should you wish to contact us, please write to us on [protected]@bajajfinservlending
mentioning your Loan Account Number in the subject.
With regards,
weCare
Bajaj Finserv Lending
Thank you for sharing your Loan Account Number.
We have already initiated the process of resolution of your query.
You shall hear from us in the next 48 working hours.
During this time, should you wish to contact us, please write to us on [protected]@bajajfinservlending
mentioning your Loan Account Number in the subject.
With regards,
weCare
Bajaj Finserv Lending
bajajfinservlending — higher rate of interest
got a loan and was detailed rate of interest as 19 percent, and later calculated on 32% per annum,this significantly increased the premium and was not even calculated on reducing balance. i will end up paying 105484 as interest on 185000 for mere 3 years.
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+91 20 3040 5261
+91 20 3040 5060
+91 20 3040 5221
4th Floor, Bajaj Finserv Corporate Office, Viman Nagar, Pune, Maharashtra, India - 411014
View all Bajaj Finance contact information
At the outset, please accept our apologies for the inconvenience caused.
To help us expedite the process of resolution, could you please share your Contact Number and Loan Account Number with us?
With regards,
weCare
Bajaj Finserv Lending