1. I have taken a Flexi hybrid Loan from M/s Baja Finance on 20.02.2019 – Loan No 403SAFEA309098
2. Tele marketing agent of Bajaj Finance Mr: Saurabh was pursuing with me for a long time to convince to take this loan
3. I was not in need of any loan at that point of time, but thought of accepting this offer as an emergency fund if at all any requirement come in future
4. Now the terms and conditions which the Bajaj finance executive explained to me were as follows based on which I decided to go for the loan
a. The money will be there available as an OD balance in my account, it will not be disbursed to me until or unless I withdraw it.
b. As long as I don’t withdraw the money I will not have to pay any charges
c. In the loan agreenment there were several finance charges mentioned, for which he told me that this is not applicable to me as it is a special case. I have the whatsapp chat transcript as an evidence for this
d. I told I require a loan of Maximum 2 lakh
e. But the executive told me that, it is not going to make any difference if it is 2 lakh or 18 in terms of the charges so it is better to go for 18
5. Basis the above discussion I opted for 18 lakh loan from Bajaj finance.
6. Now when the loan was sanctioned the entire amount was credited to my account, also around 50k was charged as insurance and other charges
7. I was shocked and I immediately paid back the entire amount on 21st Feb[protected] and 22nd Feb[protected], against the total Loan amount of 1882999 disbursed on 20th Feb 2019.
8. I kept RS 800 balance just to avoid the force closure charge
9. I really wanted to close this loan, because I was not in need of it. But the Force closure charge was 4% so for 18 lakh it will be 72000
10. Then I had very long correspondence with Bajaj finance and the Telemarketing executive Saurabh, and later on they reversed the processing charge and the insurance charges.
11. But I still need to pay either 5555 for 5 years (~28k) or 72000 as force closure charge. So the option is now to loose 28 K or 72k, for believing the Bajaj finance reputation and their Marketing agents.
12. One can see my account statement; I have not utilized even a single paisa from the loan so far.
13. I have made several correspondence with Bajaj finance customer care and I did not get any resolution for the case.
14. Now the customer care team of Bajaj finance is advising me to force close the loan, where in I will have to pay more by around Rs 45000. So even now they are trying to suck maximum of my hard earned money.
15. Request your support for the resolution of the case.
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