Bajaj Finserv Complaints & Reviews

Dear consumer complaint,
I have done balance transfer of my home loan to bajajfinserv from hdfc. now i am facing following concerns, for which i have repeatedly mailed bajaj team (even cc'd the regional managers) with no help.

These issues i am trying to chase with 2 months with no help in

*rate guarantee - while taking loan the service person promised me that never the loan will increase beyond 0.25%. (i. e.) i have taken loan for 9.50%, such that my loan will never increase beyond 0.25%. but later he said i have considered 10% in mind and told as example. which was false commitment and they are least bothered to cater this issue.

*top up loan rate of interest increase - while taking home loan they have promised 9.5%, but for the top up loan without any information they have provided with 10% (i. e.) 0.5% more than the committed value. when asked they said they will change it after 1st emi and later no replies on this.

*cheque bounce - since the bajajfinserv has not done the ecs registration properly, for the first month i faced issue with ecs clearance. for which they have asked to pay through url and i did so. but even after payment they have processed the ecs again and done two cheque bounce. for which i have contacted cibil to remove the two entries as this is no my problem. to get that bajajfinserv has to provide letter stating it is there problem. i have requested this letter and i am not getting any replies on this.

*consolidated statement - i was asking for consolidated interest and principal certificate for my entire loan in fy. to which representative said that he has applied and has complain number. but i am not getting any replies on this.

Hope you will help me in getting the required documents.

Thanks,
Partha

I had 2 types of loans in bajaj finance. that is rcd and rdp. i fully cleared the rdp loan amount of rs. 18, 135/- on 06.07.2016 & i closed that loan. but on 07.07.2016 rs.3, 627/- debited from my bank a/c through ecs. i gave request to in local mandya branch. they were said that amount will refund to your bank a/c, but still not refund to my bank a/c. i saw my rcd loan statement there they showing principal component at termination of rs.3, 500/-. but still its showing to due to pay. rcd loan due to pay 2 months only (rs.1, 750 x 2 months) rs.3, 500/- only. they are not refund my amount or not adjusted and not clear my loans.in local mandya branch they are not giving right answer and not responding rightly. refund that rs.3, 627/- or rs.3, 500/- adjust to my rcd loan & remain rs.127/- refund to my a/c.

I purchased a hitachi ac through bajaj finserv & they offered me to extend warranty for 2 years. First i paid 2953 for two years extend warranty.
When i faced a problem. I could not reach customer care, there is no direct call to customer care then finally i am able to talked with customer care, she gave me manager no, after four days the technician came, they did not know how to open hitachi ac. After many tried he only open ac and said it's ok. They also charged 500 rupees extra.

Res sir
My name is vallabhbhai f. Vekariya my residance adres: 113- b vraj vihqar society -2
Opp : galagykhanna
Gala gykhanna road
Outh bopal ahemedabad gujarat india
I take personal loan from bajaj finery
Loan my detail as under
Amount : rs 455000 agreement date : 28/3/2014
Aagrement no :418sal02200444 product : sal
Tesure : 60
Intersest :15 % paid emi : 10825*24 = rs 259800.00
Ir
I paid 24 emi upto 5/4/2016 total amount paid rs 259800.00 remainig closin principal amount rs 312261.00 and inbetween five check return the company demand check bounance charge rs 6000 and company loan process charges rs 9500 at the time of loan company agent said there is zero loan process charge so i requested t0 company mens my demand
1 wiver check bounance charge rs 6000 and return loan process charge rs 9500
2 reduce my laon intrest rate 11 % because all bank reduces interset in fix deposit and all loan or fore close my loan with consider my above demand or you offer oyher persoan loan at 11.50 % so why not offer me
3 i also ready to fore close loan my if company ready to negosiat amount with me
But company send my home many person for hersment last company send me notice through vakil from puna as per juridaction but i am staying in ahemedabad company why not send me notice from ahemedabad company aim to herassment and mind trass me
Company is not give copy my all document like filling form, agreement document etc
Last company send me notice demand amount rs 320907 from puneby advocate subhas desai and aiso demand 3% interest also said thaatlegal proceeding both cival and criminalas may nacessary aginst you

My loan a/v no.25026598 bajaj finser
As per their terms after 3 month i should received an emi card how ever the said it is been dispatched my communication adress on before 4th emi but i haven't received yet again total stallment paid on jan 2016
I want be received emi card until my loan tenur i have pay amount for emi card at the time taking loan
Please suggest me
Md azad
Mobile no.[protected]

Hello,
I got a call from bajaj finserv team about flex loan. I said not required, but their sales representative pushed me to go for loan as thier target is not get met. As per their explanation about laon product: i need not to pay any thing till i use any amount for bajaj finserv account. So i had given ok.

Later i received loan approved mail with processing fee approx rs 9500/- and insurance rs 30, 000/- mentioned. When i approached agiain sales representative they given in writing to return the processing fee and without any insurance. With their commitment i had given ok. After loan received, i found processing fee and insurance both are deducted and remaining amount send as loan amount. Since receipt of loan i am trying to contact sales representatives (Mr santosh), he is saying we cannot do refund the processing fee & cancel the insurance. I need justice.

Dear team, please help me. I got a call from bajaj finserv sales team and also emails stating 540000/- pre-approved loan with 12% and no pre-closure charges. We are providing this for our valuable customers. During that i was needed some money so, i agreed and took the loan because the same charges from banks as well. I haven't noticed the rate of interest by logging into bajaj site. Some fine day i noticed that rate of interest was 20% where i was literally shocked. Later i decided i will close this asap. So, contacted i tried reaching the bajaj finserv call center support where i will never been able to reach them, so, directly went to adayar bajaj finserv center. They said on behalf of me they can submit a pre-closure request and i will be getting an email about the balance charges. I agreed and waited for 48hrs and then again i was shocked that 4% foreclosure charges.. I was brutally been cheated. So, again i contacted the bajaj finserv main office in mount road raheja tower office they said send an email to [protected]@bajajfinserv.In & [protected]@bizsupportbo.com. And i shared my experience to them they said no worries sir please send an email to our escalation team and they will help to get remove the foreclosure charges. I agreed. I am keep on submitting an email every 48hrs and keep requesting for some kind of support but no one is ready to help me. Not even a single person has been contacted for last 3 weeks now. Out of 9 times i got below response from bajaj finserv team.

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.

Service request no. Is : srn06091101, srn06091089, srn06027365, srn06027374, srn05999418, srn05960742, srn05929770, srn05983687.

Kindly requesting someone help me to close this bajaj finserv personal loan. And let me know how to take further filing a complaint against this company for cheating poor people.

I took personal loan from bajaj finserv, my loan account no is 405sal14906868.

When i took loan the terms were no penalty on foreclosure.

Now they say i will have to pay penalty for foreclosure.

I visited one of bajaj finserv, there was a cutomer with same issue, he argumented with bajaj representative.

Bajaj represntative agreed and said there will be no penalty.

When my turn came same representative, asked to mail to [protected]@bajajfinserv.In

I have mailed this email id atleast 40 times, there is no reply.

Please readdress this issue, the terms on which i took the loan was the most possible reason that there will be no penalty on foreclosure.

Dear sir,
Dear sir,

I taken loan from you bajaj finance, loan No - 4420PL19168787 When i am taking loan your company told No forclosure charges now your are saying that chages need to pay what is this you are plying games with me?
I taken loan before that conditions now you are saying pre clousure charges need to pay this is not a fair business.
S Vijayakumar
[protected]

Personal Loan no #404SOL22012851

I place a request on May 11th to cancel my loan as I had not received the loan amount in time.

However the loan was not closed in time and EMI of 11689 RS has been withdrawn from my account.

I intimated the Bangalore Manager & raised couple of tickets
#SRN05736297
#SRN06052033

But still the money has not been refunded.

I...

Hi

I feel terribly frustrated by the behavior of the 2 executives of the bajaj finserv.
The first executive took my details to verify and hung me up and disconnected the call. Upon calling again, the executive hold me for so long and then simply went to mute mode after listening to my complaint about the emi card status and again i was left unanswered.
I mean what kind of a support you guys are providing over call with the help of these immature executives who dont have the sentiments to understand the criticality of the call.

Apart from these horrible experience of the so called customer service desk of bajaj finserv, i am mentioning this directly to the policy makers of the bajaj. My emi card got unblocked in may and i received the message that kindly visit any durable goods showroom and continue shopping.
Yesterday i went to buy a led and after finalizing it i went to the bajaj counter for the payment where i got to know about the status of my card that it is being again blocked due to change in policy of bajaj finserv.
Just a simple question : don't you have the courtesy to inform the user about the status of its card. You guys can send the unblock message but when you block it, you dont feel its important for the customer to know.

These experiences have led to wastage of numerous resources like time which i could have utilized in a more effective way by shopping online with credit card instead of your so called bajaj emi card.

Also there were some dues pending of late payment which i am totally unaware of and has no reminder from your end (Bajaj finserv) and kindly provide your executives some ethical and social lessons.

Thanks
Deeply unsatisfied customer (Pranshu vats)
[protected]

Hi,
This is ramachandra rao, i had taken personal loan from bajaj fin serv amount of rs.2, 50, 000 with pre-closure charges zero and with specified interest rates (salaried loan pl 404spl[protected], now after 1 year of loan sanctioned date when i want to close the loan then they are demanding 4.6% as pre-closure charges, but when i was taking loan they mentioned pre-closure is free. please help me regarding this.

Ram.

Hello,

I have obtained a loan from bajaj finserv for amount of 400349/- for 4 years, at the time of loan sanction they promised i will get pre payment and foreclosure of loan after 1st emi without any charge. There would be no limit for number of payment in year in terms of amount just one condition was there whenever pre payment would be made minimum amount should be equal to 3 emi. And all facilities would be provided online.

After paying regular 3 emi"s from 1st june they sent a mail and informed that now terms have been changed as per new terms if i will pre pay more than 25% of principal then i have to pay 4.6% as a prepayment charge which was not there at the time of loan sanction. And for all transaction i have to visit branch.

Now they are saying market condition have been changed so they have changed the rule, i just want know can they change the terms for a loan which is on fixed interest rate??

And now i am not getting any online facility which was promised i paid more processing fees more interest arte just because pre payment and foreclosure was free and everything was online, now they have changed everything. What should i do??

Dear all,

This complain is against the bajaj finserv. i took loan for 16000 rs from them and due to their fault i paid the whole money in the next month so that my cbill not get impacted. please find below the whole scenerio:

I took loan from them and due to their fault i paid off the whole amount and have already shared my receipt no[protected] and[protected] for the foreclosure of my loan account no 4010cd22872315 and 4010cd22872331 in thru email, not sure why are these guys again asked me for the scan copy of the receipt instead of checking the details with the receipt no on theri database. they are unnecessarily harassing the customer and making them in trouble.

Below are the problem which i am facing since the day i took loan from the bajaj:

1. i took loan of 16, 000 inr and the cheque (icici bank) which i submitted to the bajaj finserv agent available in the showroom where i purchased the goods did not submit to the bank and the first emi which needs to be deducted on 5th june, 2016 does not deducted from my account and for this when i contacted to the customer care thru email the reply which i received says that “my cheque got bounce”. then i visited to the bajaj finserv office in kaushambhi, ghaziabad they said that the amount is being deducted from the kotak mahindra bank which i don’t have.

2. after this incident i went to the bajaj finserv agent available in showroom where i purchased the electronics goods apologies to me and said that it was his mistake and he has not submitted it to the bajaj office and showed me the cheque as well which was lying with him only.

3. after this i went to the bajaj finserv office and paid off the whole loan amount with the receipt no[protected] and[protected].

So my question is that how come it would be possible that my cheque get bounced when it was never ever submitted?

Now after getting the noc and have given the receipt number they are again calling me and asking for the money which i already paid off and harassing me on daily basis via call and email.

This is such a pathetic services which i got from the bajaj finserv. this was the first and last time i took loan from bajaj and i m regretting about my decision why i took the loan from such a bad company who even don’t bother to listen their customers issue. despite of paying off all my loan amount and i got the noc and closed status slip from the bajaj finserv. again i got call[protected] from bajaj finserv office, pune that my check was bounced and i have to pay the emi. i am literally fed up with the pathetic service provided by the bajaj finserv. i am regretting about my decision why i took loan from the very fake and fraud company which is not even loyal with his customer from the very first day. entire issue were created by the bajaj finserv agent available in the showroom where i purchased the electronic items and now i am facing problem everyday and these guys are really making my life hell. if i have to pay everything in cash then what is the use of taking loan from the company which i paid off the whole loan in the very next month and closed the loan account (4010cd22872315 and 4010cd[protected]. now these guys are harassing me by doing calls and asking for the money which i already paid off and closed the account. i do have noc and the foreclosure payment receipt (receipts #[protected] and[protected] issued by the bajaj finserv only.

I really need a help from consumer court as this is making my life hell.

Thanks
Sachin gupta
[protected]

This is my 5th email to your desk and i am getting same email from your end. Is it the way of treating clietn kindly make it present at proper department or give me the details for connecting. Today its 17th i am taking this issue from 2nd july. I will take up this matter upto consumer forum as i have been taught wrong commitments from executive at the time of purcahse and also visited the indore, ujjain branches.

I am highly dissatisfied with the concern i am facing

Kindly do resolve or let me know how do i approach your md or ceo of the organization.
My number [protected]


On tue, jul 12, 2016 at 11:33 am, wrote:

Dear team,

As per below mails still my issue has not been resolved and twice i got call from your executive who capt me on hold both time. This is very sections concern.
Kindly arrange a call back from your branch manager.

•first instalment date from your
Executive:- 5 - august-2016

Best regards

Ravi parmar
[protected]
[protected]

Sent from my iphone

On 11-jul-2016, at 16:49, [protected]@bajajfinserv.In wrote:

dear customer,

thank you for writing to us at bajaj finserv.


with reference to your email and the conversation we had, we would like to inform you that your loan is processed as per the policy. The due date was on 02 july 2016.

for any further clarifications write to us at [protected]@bajajfinserv.In

assuring you of our best services always.

regards,

bajaj finserv

bajaj finance ltd





—

dear team,

i, ravi parmar bought mobile from bajaj finance on 13th june 2016 (A7 samsung 2016) of rs. 29, 900/- + 450 file charges from bajaj finance.

not the concern is i am getting message to pay the installments although i have already paid 9000 on the date of purchase i which they stated me that one installment is already included. And told me to pay next installment is in aug.16 not the said word and reality is totally changed.

being market leaders in providing loans such statement from bajaj executive mad me in trouble and my financial planing

also visited indore bajaj finance office on 02.07.16 there also the guard was very arrogant in responding. This is not at all expect from your management.

i am in deep confusion please arrange to call back on my number as i tried to reach at your customer care.
my no + [protected]
+ [protected]


br,

greetings from bajaj finance! Transaction for rs.30000.00 on your emi card xxxx5899 is successful. Pl call [protected] or mail [protected]@bajajfinserv.In if transaction not authorized by you. Balance on card rs.13750.00

[cid:18431cb6-2b82-41d1-a270-d92c5319737a]




sent from my iphone

I have taken the mobile loan from the company in 2015, at the time of filling form and any formalities i have not been told about emi card.

However it was sent to my address.. I thought it would be goodwill from company to send emi card so that in case i buy it again with bajaj fin, they do not have to verify documents again.

What i was not aware is the condition of 100 rs debit per annual if you dont purchase anything.

I want to cancel my emi card, but there seems no easy way to do it.

Why the hell the issue emi card without customer consent..

Loan application no: [protected]

Sourcing channel name: premkumar p (Psf - lap) coimbatore

Sanctioned date : 14-june-2016

Sanctioned credit manager : gopalakrishnan mk

Original document handover date : 29-june-2016

Mod registered date : 30-june-2016

Processing fee dd dated 30-jun 2016 : rs.40000

Loan amount applied : 4850000

Emi start date :[protected]

Lan number: 421lap24747211


With references to the above details, still i didn't have the disbursed cheque with amount rs.4844433. Dated[protected]. Even the registered mod document had been reached my hand.

When checking with your portal regarding my loan status, i got shocked to see the emi start date is on[protected] with due of rs.72650. But still i didn't receive the cheque from your side. After a weeklong telephonic conversion with your branch sales manager, area sales manager & branch manger and a direct visit to the branch office yesterday, still i have not solution for the same.

I was deeply depressed by the way bajaj finserv handling my loan. Kindly need a solution at the earliest.

I am running a personal loan with bajaj finserv and loan id is *************.

As per my loan agreement dated 19/08/2014, i had not to pay any charges for partial payment or pre-closure against my loan account which is clearly mentioned on mail also sent by them.

But later when i was planning for pre-closure i come to know (through [protected]@bajajfinserv.in) that bajaj finserv has changed the policies from june 2016 and because of this, i would also need to pay charges for "partial payment" or "pre-closure" @ 4% and 2.3% respectively, which is totally violation of my initial loan agreement which was executed on august 2014.

This is really against the law and initial agreement and by doing so, bajaj finserv has left no other option but to go consumer court.

How can i file a criminal breach of contract complaint against them with authorities and get my money back.

I have all documents and closure statements ready to be filed against bajaj finserve.


Please advice at the earliest.

Hello,

Bajaj finance has promised me saying that they are not going to take any foreclosure charges on personal loan but now they are taking some 4.6 % and this not fair
Please look into this serious issue and kindly do the needful at the earliest

Regards
Manjunath

Loan account 404sal18280424

This email is regarding the partial payment and fore closure charges.

Your service request no. is: srn05935140 i have got his number on 4th july till now i didn’t get any response.

I have sent mail to you also but i didn’t get any reply from you as well.

In the welcome mail you mentioned as the amazing benefits like no foreclosure charges and nil part payment changes.

Last saturday i tried to make the partial payment the executive asked me to pay 2.3% charges for my part payment. this is a one way of cheating the customer.

While taking the loan they clearly mentioned that no charges for part payment and for closure.

I don’t see any value in continuing my relationship with the customer. how can you incur charges on existing loan suddenly.

I need to raise the complaint with consumer court, the brand name of the bajaj will affect with this.

I have all the required proofs from your customer relationship manager during the loan application process.

Please provide the waiver for part payment and foreclosure.