[Resolved]  Bajaj Finance — Loan Disbursed but Not Credited in Bank Account

After more than a dozen phone calls and emails, Bajaj Finserv credited loan amount to my bank account. They neither deposit loan amount in your account nor return your blank cheques. It was a horrible experience. If a central govt gazetted officer like me have to undergo such an ordeal from a private financial company, what about other citizens who applied for loan from this company. Once you've handed over your blank cheques, salary slips and other documents to Bajaj Finserv, you're just like in an airborne aircraft that has failed both engines. They neither deposit loan in your bank account nor answer properly to your phone calls. There are so many phone numbers in their website, from the Chairman to customer care to grievance cell. You ring, none of them will function. The fraud sales manager and field executive who have collected your blank cheques and documents will evade from your phone calls. You make 100 calls, they will attend one, and give you wrong information. Anyway, I resolved this issue. The worst thing is that they charge interest from the day of your loan application, and not from the day of loan disbursal in your bank account. This is a strategy to earn interest without giving you the loan amount. So I complained about it. Today the customer care told they will refund the excess interest charged from me for the days between the loan application and actual disbursal of loan amount. Anyway, it was a horrible experience. I should have gone to a bank for loan rather than an untrustworthy financial company. It's high time the central govt took measures to curb the unethical corporate practices. Ordinary citizens are the ultimate victims of the unethical corporate practices.