Bajaj Finserv - Payment of EMI for consumer durable loan

6 Reviews
  sunnysabharwal on Aug 1, 2012

We had purchased a Voltas AC from a local dealer on 6 months installments financed by Bajaj Finserv.

Loan Account No.: 4010CD00233564

The Bajaj Finserv executive at the dealer had taken all the required documents and cheques and ECS mandate form.

On the first installment becoming due, we got the following email from Bajaj Finserv :
Dear Customer,

Thank you for writing to us at Bajaj Finserv Lending.

We observe from our records that the payment presented through ECS has been returned by your bank, with the reason "BANK REJECTED MANDATE-SIGN MISMATCH".

Please note that we have already sent the ECS mandate to your Bank for activation of the ECS. We request you to kindly take this up further with your bank.

To ensure smooth functioning of your ECS, you may register once again by following the below mentioned steps -
*Please take 2 printouts of the attached ECS mandate form and fill both the forms.
*Forms need to be duly signed and stamped by your bank

The above mentioned documents need to be submitted at your nearest branch.

The Delhi branch address is as follows:
11th & 13th floor,
Agarwal metro heights Netagi subhas palace,
pitampura New delhi-110034

Please find attached a copy of the Statement of Account and ECS mandate form.

For any further clarifications write to us at

Your feedback is important to us. Please take a few minutes to give us your feedback .
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Assuring you of our best services always.

Yours sincerely
Bajaj Finserv Lending.
Bajaj Finance Ltd

We have been trying to contact the Grievance Redressal Team but every time we get the same response.

What a customer fails to understand is that when the Bajaj Finserv executive was there to do the documentation, how come lapse on their part can be put on to the customer. Despite the fallacy on Bajaj Finserv's part, they have charged me default charges which is ridiculous.

Further, for remaining installments, there is no provision of paying online through RTGS or NEFT or Net Banking till the time your installments are overdue. No lending company or bank is offering such less online services.

Also there is no contact number where one can speak to any customer care representative.
Complaint comments 5 Comments     Updated:
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N Aug 1, 2012 by
Bajaj Finserv Lending  
Dear Sunny,

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

mentioning your Loan Account Number in the subject.

With regards,

Bajaj Finserv Lending.
N Aug 7, 2012 by
Tata Docomo  
Dear Sunny,

As Per our conversation, we had asked to you submit fresh ECS Mandate form and you wont need to pay any bounce charges for august 2012.

With Regards,

Bajaj Finserv Lending.
D Oct 23, 2012 by
Due to prepayment of my loan and EMI deduction, bajaj has deducted my EMI and they are not refunding it now. Its almost 26 days now. I want to escalate this matter to high management can anybody provide me the phone number or email address from where i can get the response.
Miss Munshi
N Feb 6, 2013 by
Santosh Kumar Gouda  
I took a computer loan vide loan no 400156206 on Oct 2006 and got NOC vide NOC sir no 0532665 dated 29 Nov 12 .Same time refer my letter dated 29 Jan 13 regarding loan details I clear all dues on 2007 But still my name in CIBIl list. Onec's i paid all EMIs why my name is CIBIL list. Refer my ibid letter (high Lighted Line) regarding payment matters, Please remove the statues on CIR in CIBIL from Written off to Clear and your statement also active to calear.So that i can take home loan .

E MAIL-santoshgouda1967@yahoo com
N Feb 19, 2013 by
hi, i was taken the loan for a.c. and now that is cleared so please give me N.O.C. of that

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