Bajaj Finance — foreclosure charges on salaried online personal loan

Address:	Mumbai City, Maharashtra
Website:	www.bajajfinserv.in

Please take a note that bajaj finserv have offered me salaried online personal loan with the below benefits:

1) nil foreclosure charges. Any time, post clearance of your first emi

2) part prepayment post clearance of the 1st emi, the customer is allowed to pay up to 6 times in a calendar year (Minimum amount per part payment is = emi x 3 and no limit on the maximum amount per prepay transaction)

Today i called up the customer care to check on the outstanding principal amount and the procedures to foreclose the said loan account. To my surprise and shock, i was informed that 4.8% of the principal amount will be charged as foreclosure charges. Whereas while availing the loan in jul 2015, the loan was informed that salaried online personal loan does not attract any foreclosure charges.

I was also informed that, after 1st of june'16 they have decided to levy 4% foreclosure charges hence violating the loan agreement. No prior communication was sent to us before 01 jun 2016.

Customer care has been responding with the above standard reply.

Please look into it and provide me with a resolution.