[Resolved] Bajaj Finserv — Asking for extra foreclosure, but in welcome letter it's clearly mentioned as nil foreclosure | |||
I have a loan in bajaj finance, loan account number = 404sol21080365. I need to foreclose my loan and i had visited the bajaj finserve office at residency road, bangalore branch. They said i need to pay an extra amount of 13835.14, i am not sure what this extra foreclosure charge is. As per the prepayment plans you gave me it was nil prepayment charges (As mentioned in the welcome letter attached). So only i accepted to take the loan from bajaj finserv. But now, i am seriously confused, i don't want to loose hopes on bajaj finserve and also i cannot pay that extra foreclose amount just like that since i have financial constraints. I need to close the loan as early as possible, but these people are neglecting and building up the interest. If i call to customer care it will be busy and there will be no response from them through mails also. Was this information helpful? | |||
Aug 6, 2021 Complaint marked as Resolved Bajaj Finserv customer support has been notified about the posted complaint. | |||
 3 Comments | |||
Comments
Hi there, we regret the inconvenience caused to you. We wish to inform you that we have already noted your details and shall forward it to our customer care team. Someone from the team will get back to you shortly. You can also write to us at [protected]@bajajfinserv.in
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Bajaj finserve, the Cheaters
Loan no: 405SAL14906193
I had taken a personal loan of 6 lacs in Oct 2015 @ 14.99% cut throat interest rate from Bajaj finserve. Just before dicbursement they forced me to take a insurance of Rs.20, 000. I accepted it. They deducted Rs.17000 as processing fees . Still I accepted . Now after 8 months of payment in June 2016 when I want to payoff the loan they are forcing me to pay 4.6% foreclosure charges i.e. Rs.25, 000. When i called the customer care to send the foreclosure letter they said that it was introduced in June 2016 recently. On the website and the documents however, there is no mention of foreclosure charges. This is bullying at the highest level and trapping innocent customers. How can they levy something with outapproval from customer.
I have already written to their customer care but there has been no reply.
On what grounds can I drag them to consumer court ?
Loan no: 405SAL14906193
I had taken a personal loan of 6 lacs in Oct 2015 @ 14.99% cut throat interest rate from Bajaj finserve. Just before dicbursement they forced me to take a insurance of Rs.20, 000. I accepted it. They deducted Rs.17000 as processing fees . Still I accepted . Now after 8 months of payment in June 2016 when I want to payoff the loan they are forcing me to pay 4.6% foreclosure charges i.e. Rs.25, 000. When i called the customer care to send the foreclosure letter they said that it was introduced in June 2016 recently. On the website and the documents however, there is no mention of foreclosure charges. This is bullying at the highest level and trapping innocent customers. How can they levy something with outapproval from customer.
I have already written to their customer care but there has been no reply.
On what grounds can I drag them to consumer court ?
Hi there, Greetings from Bajaj Finserv! With reference to your query regarding foreclosure charges, we would like to submit that BFL was amongst the first between all Financial Institutions to start with the practice of zero foreclosure charges whilst competitors were charging the same to all customers. In line with the policy we offered the above facility to you with zero foreclosure charges. However, basis the prevailing market condition the Company decided to apply foreclosure charges to all our customers who foreclose the loan. Bajaj Finance always strives to maintain best possible balance between the customer's interests & current economic conditions. All practices hence adopted are keeping in mind our aim to achieve better customer service with a competitive edge. In view of the above fact, we wish to inform you that we would not be able to waive off the said foreclosure charges. For any other query or assistance, please feel free to write back to us at [protected]@bajajfinserv.in.
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