To get customers and increase customer base or getting incentive or to achieve target, executive call and give as much false information like no processing fee, you will get added advantage like free different insurance such as health, accidental benebit, salary if jobloss etc. He will take your signature in the bundle of application papers. You never know where you are signing on. Even if you told my loan requirement is 1 lakh or 2 lakh. They will simply listen and give you more as per eligibiliy like i got 7 lakh. They will process and send one mail to take our ok on the mail. This is good actually where customer has to be smart and i became fool here. I wonder whatever information from executive that i received was false as per email but he convinced me somehow saying that company gives that for formality in the mail and just revert with ok. Later they took 17000 processing fee and all premium of insurace policies attached to this loan and that too additional loan amount which i was not interested into it. Then case will not stop here. I returned all 7 lakhs amount and now they charge monthly emi on remaining amount. Suddenly next youor amc (Annual monthly charge) of 2k deducted, i was unaware. On ask to customer care, i came to know that guy already had taken the flase signature on all papers of application where amc has been mentioned. Now what, on foreclosure, there are certain charges to pay which is ok. But at the time of closure you will come to know that emi which paid till date did not involve any principle amount and they deducted only interest. Now what to do at the end without utilization of loan eligible amount, payment of additional benefits means insurance company made the customer fool. Kindly suggest what to do in this case now???
Bajaj Finserv customer support has been notified about the posted complaint.
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