[Resolved] Bajaj Finance — Loan Disbursed but Not Credited in Bank Account
ViVijaysomnair79 on Jul 7, 2017
Dear colleagues, I'm a central govt gazetted officer from Nagpur. I have a very bad experience with Bajaj Finserv at present. On 3rd July 2017, I applied for Rs.2 lakh personal loan at its Nagpur branch. The staff took 3 blank cheques, my salary slips and 6 months bank statement, copies of PAN, AADHAAR, Photo etc. They told me within 2 days amount will be credited in my salary account. But they didn't credit so far. On 6 July 2017, I received SMS message with User ID AND Password to login "EXPERIA" customer portal. When I login it, I was surprised. It shows loan Rs. 193032 (after some deductions) was disbursed on[protected] and interest outstanding as Rs.68152. How can it disburse loan even before I applied for loan? I contacted Sales Manager and field executive many times. But they tell me they processed it through RTGS. But I haven't received the amount until 9.37 pm 7/7/2017. Being a govt employee I could have easily got loan from any nationalized bank. Unfortunately I fell victim of the Bajaj Finserv. Now I'm afraid that they might use my blank cheques and salary slips to do financial fraud. If I don't get my loan by 8th July 2017, I will start legal proceedings against Bajaj Finserv management and its Nagpur staff for fraud and harassment. I'm a central govt gazetted officer, and I tell my fellow countrymen never approach Bajaj Finserv for any loan. If you do, you may suffer like me. You may contact me at email@example.com or [protected]
Complaint marked as Resolved Jul 13, 2017
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.
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Bajaj Finance Ltd - Recently my EMI loan Card was BLOCKED and i have not received any confirmation email or letter from you.