Bajaj Finance — rate of interest is very high

Address:

Mumbai City, Maharashtra, 400028

I Have Taken Personal Loan of Rs. 1, 25, 000/- from Bajaj Finance. Monthly EMI i am paying of Rs.4, 199/- For 60 Months.

While applying loan it was decided that the Rate of interest will be 16%, but after all procedure we found that rate of Interest is 20.31% as per Papers. But now I am checking the Calculations the interest rate was charged 32%

Everywhere in the Documents such as Loan Statement/ Repayment Schedule u are mentioning the rate of interest is 20.31% but as actual it is very High.

when i called customer Care, there is no Proper Response.

Rs.4199/- EMI x 60 Months= 2, 51, 941/- is the Repayment Amount for Loan Of Rs.1, 25, 000/- Which is Very High.

Kindly Look in to the Matter