Bajaj Finserv Complaints & Reviews

Never take loan from bajaj finance they change their policy at anytime... I felt cheated when bajaj finserv introduce the foreclosure charges... When i took the loan they said there is no foreclouse charges and now they have levied the 4.6% foreclosure charges even on the existing loan. This is something i never heard from other banking service. How can they put the foreclosure charges on the existing loan when at time of loan they mentioned there will be no foreclosing charges.

Be safe to not take loan from bajaj finanace, think now they have added 4.6% without intimating may be tomorrow they will increase again to 20%, 50% or may be 100% god knows. It is a clear cheating case... We should not allow this to happen.

Any customer at time of loan take his decision based upon the roi or the foreclosure charges bank is offering. When i took loan they told be nil foreclosure charges, even when they send me the policy confirmation letter. It was mentioned there will be no foreclosure charges on which they got approval from me. This is very very very bad... Financing company. Also they have cheated me on the insurance taken on the policy. Their representative told me bajaj finance will be taking the accident coverage policy against me so in case something happens to me my family will get the amount after deducting the loan amount. They told me policy will be taken from hdfc bank but and it would be till my policy term i. E. 5 years. Later i found policy is been taken from bajaj insurance and that too for one year. It cleary shows their intention against making the employee get insurance not for the loan amount just to sell their accidental cover policy. What will they do now if something happens to me after one year... Is that they will not recover anything from my family???

Never ever take loan from bajaj finance and fall under their honey trap... Clearly all the guys are cheaters here...

Hi i have taken loan in bajaj finance and those people has taken 3600 additional to provide insurance for me till loan tenure but till now i didnt got my insurance copy can you people please help me on this. I have contacted bajaj finance people but no response from them and i even contacted there head but no response i contacted hdfc life on this but they returned back will give me in one day but its 3 days still no response.

I, rajesh manilal patel purchase laptop from mx information system pvt.Ltd.Bhayandar {west}, through bajaj fin, my emi rs.4000 per month, but bujaj fin has sent a msg my emi amount is rs.4384, so i would like to request you to look in this matter, n cancel my fonesafe insurence, off rs.384.My loan no:577dpf23963850.My fonesafe loan no:577dfs23968888, my phone:[protected]...

Hi team sameer from vadodara i applied for emi card on my wife name divya sameer parmar. I m paid through sbi card rs 349. Card limit rs 60000. I have received sms from sbi for payment of rs 349 to bajaj finance. Then after i got mail from bajaj is your card is approve and plz done payment. My email id is [protected]@yahoo.Co.In plz help me positive.

Dear Team,

I have applied for two EMI card online, payment is already done,
but i din't received any reference id, I hv received sms but there is no reference id for track the status of Card nor i am getting any help from toll free helpline number.

The payment for the both the cards are already done however it is already more than 15 days and we have not received the EMI cards

I have received only the text massage on my mobile no [protected] and [protected] respectively for EMI card approval.

Please resolve the matter on priority since they had committed to deliver the card in 7 days !

Dear Bajaj Finserv,


This is Nagendra Babu I Did Purchase DIGITAL FONE SAFE But My Loan Asset Add This Loan Rs 2099. I Need Justification Form Bajaj Asap


Regards
Nagendra Babu
[protected]

Hi,
I see that there was a ecs debit from my citi account on 4th of june

24/06/2016 intercity ecs paid paid to tpcf bajaj finance:4009117:billjunction payments limited refno:[protected] ref no :- [protected]
Rs. 99.00

I believe this payment of the ecs was completed by 2013. However, not sure why and for what reason this amount was debited from my account.
Can some one please respond and give me an explanation.

I had taken a flexi personal loan with zero foreclosure charges 8 months ago. I went to foreclose the loan and Bajaj is demanding 4 % as foreclosure charges. This is not as per agreement and it comes to an amount of 17K rupees. How can you violate the agreement? Please address this asap

SR - SRN05844078

I have apply for an EMI card by online and for that i have also paid 349 payment at 17/06/2016 after all the procedure i have receive msg and mail for payment and card conformation but still i have not received any updates regarding card processing or dispatch. Is this a new way to collect money from the market for your sake. If is this not possible for bajaj finserve to send or generate card then kindly give back my money.

Dear Sir,
I had taken this Personal loan of 10 lacs from Bajaj Finance because of the exclusive offer from Bajaj giving part payment facility & foreclosure facility at 0% charges. That was the only reason I took this loan from Bajaj at a comparatively higher rate of interest in spite of me getting better rate offers from other banks/NBFCs. A major part of Interest has already been recovered from Bajaj in the last 30 months. Now when I wanted to close this loan Bank is levying a pre-payment charge of 4.60% on the outstanding amount without any notice to the customer. The change in any policy or terms & conditions can be understood for new customers but how can sudden changes be applicable for old customers. This is clearly cheating the customer. The officers of Bajaj never show the agreement to the customers stating that all the loan details & terms and conditions of the loan will be given to on Email for which we have to reply as our consent. I had received from Bajaj in the Email sent from Bajaj it is clearly mentioned that Foreclosing charges are Nil, and there is no such condition that terms & conditions are subject to change any time during the loan tenure.
I took a balance transfer loan from ICICI to close this loan which got disbursed on 31st of May, I received a cheque on 2nd but on 2nd I came to know the pre closing conditions have changed from 1st onwards. I was helpless and I had to forcefully close the Bajaj loan since I was been charged interest from both ICICI & Bajaj. I was supposed to travel out of India but I have cancelled that too because of this.
I have faced a huge monetary loss in the following manner
Fore closing charges @4.60% - 27100/-
Interest to Bajaj From 1st to 14 June - 3332/-
Interest to ICICI bank - 3332/-
Apart from the monetary loss I have lost on my travelling & cancellation charges and most importantly mental trauma in all these process.
Kindly do Justice me
Thanking you Sir,
Regards,
Rajini
[protected]

Bajaj finserv has given me personal loan with a term condition specified in written that there wont be any foreclosure charges or part prepayment charges during the tensure.

I have taken loan on 27th may 2015. I got below written communication about the foreclosure and part-payment charges:-
"the advantages and benefits offered by our products will be by far the best that is currently available in the industry.
1.1.0% foreclosure after 1st emi (Best in industry):-
A. All other banks / financial institutions have a lock in period of 6 to 12 months.

2. Part payment benefit (Flexi loan):-
· part payment amount will be booked as flexi overdraft amount, so that you can use this amount in between the active loan.
· you can do any amount as a part payment. (Minimum rs.100/-)
· no limit for making part payment.
· first pre payment can be made wihin 36 hours of disbursement.

3. Part payment benefit (Normal loan) after 1st emi (Reduces interest outflow)
A. You haveto pay a minimum of 3 emi’s as part payment and maximum can be principal outstanding.
B. Maximum 6 part payments allowed per year.
C. Flexible option of reducing either tenure or emi.
D. Zero charge for making part payment
E. Other financiers allow part-pre payment after 6 months"

On 1st june 2016, suddently i received an email from bajaj finserv stating below:-

"dear customer,
This is in reference to the loan (S) availed by you. We have modified the terms and conditions of your loan/s with respect to foreclosure and pre-payment charges.
Foreclosure charges of 4% (Plus applicable taxes) will be applicable if you choose to foreclose your loan post clearance of first emi. Foreclosure of the loan is only allowed post clearance of the first emi.
Part prepayment charges* will be applicable if you choose to prepay more than 25% of your current outstanding loan amount. However, no charges will be applicable for part prepayments done up to 25% of the current principal outstanding in last 12 months. This facility is allowed post clearance of your first emi only.
The revised terms and conditions are also available on our website atwww.bajajfinserv.in/finance
The revised terms and conditions will be applicable with immediate effect.
We sincerely thank you for your continued support and patronage. We assure you the best of our service at all times.
Warms regards,
Bajaj finserv
Visit www.bajajfinserv.in/finance"

This is cheating. This is not true transparency. Bajaj finserv have cheated with these terms and conditions. I will not consider this foreclosure and part-payment revision.
I did tried to call their call center. The call center agent was very rude and was giving me one single statement of "policy change" throughout her speech. Upon asking to transfer the call to manager, he refused to do so. They dont even consider to talking to their existing customer.

Please justify. I want to compalin about this nuisance and challenge fake people from bajaj finserv's get this settled soon.

Dear baja finserv,

My name is brahma and i took salaried personal loan. During the loan processing time i have received confirmation email stating no pre-closure charges.

Loan number: 404spl[protected] amount - 170000
Loan number: 404spl[protected] amount - 700000
Loan number: 404spl[protected] amount - 300000

Now when i tried to pre-close my loan mentioned above number is showing 4.6% pre-closure charges. Kindly rectify as soon as possible so that i can initiate pre-closer process.

Reach out to me on my registered number

Regards
Brahma

Dear team,

I have applied for emi card online, payment is already done,
But i din't received any reference id, i hv received sms but there is no reference id for track the status of card.

Please note the payment transaction reference no which i have paid rs 349/- for emi card on 26/06/2016 - from idbi bank a/c vide ref no :
Ipay/eshp/bd/93235395/gidb[protected]_bajajfinance
Vz
I have received only the text massage on my mobile no ([protected]) for emi card approval and approval of loan limit of 90000.


Please resolve the matter on priority!

Dear Sir/Madam
I applied personal loan request through bajaj finserv representative. He came in my office and i clearly communicated with him that i need only personalloan of Rs two lakhs only with no loan protection.
He agreed with same and told me that financial fitness report charge of Rs. 1250.00 will be deduct from loan amount. I agreed with him.

At a same day i got loan application reference number from...

At the time when i have taken the loan it was informed to me that the foreclosure charges are Nil.

However few days back i have received a message from that the foreclosure charges has been revised to 4%.

Within 3 months they have arbitrarily changed the terms terming it as market practice and is now harassing their customers who have been stuck with high interest loans.

Over due my account pls my excess amount return my cell [protected] loan no;iam last months one laptop purchace excess amount Bajaj finserv side iam pay another one washing machine excess amount paid pls check my account Bajaj pls slove the problem thanks

Loan acc no-410SOL08370724
I took personal loan on the basis of zero foreclosure charges. I am considering to foreclose the loan now. I came to know that foreclosure charges now levied on it.
Why should I pay foreclosure charge ?
I[censored] have changed it den it should be applied to new customers...


already we are paying interest rate for this flexibility...

pls guide ...
mob [protected]

Hi... This is atmaram thakor here.
I am leaving at ahmedabad.
I had purchased a mobile phone "samsung galaxy s6" financed by bajaj. The total loan amount had been repaid as per norms. I had visited your ahmedabad office & as per instructions from your official, i had send sms to the concerned number before one week. But still today i have not received noc.
So plz send me noc as possible as early, because i have to submit it for my further loan requirement.
Other necessary details are as under:-
-registered mob. No.-[protected]
-registered
Email - [protected]@gmail.com
-purchased
Phone - samsung galaxy s6
Thanks & regards.

Bajaj Finserv Customer ID: 21534719
Loan No: 402SAL17691514

I would really appreciate your help on this matter.

I had borrowed a SALARIED LOAN loan from Bajaj Finserv in Dec-2015. Loan was offered with the terms of NIL foreclosure charges & NIL Prepayment Charges.

I had accepted this loan with those terms, even rate of interest are high compare to other banks and even I can get easily loan from other banks.

Today when I want to close out this loan, Bajaj Finserv is saying that they have modified charges since 1st Jun 2016 and are applicable for existing loans also and now Fore closure charges are 4.6%.

How can already executed agreement terms be changed by company?

With below mentioned evidences clearly stated that Nil Foreclouser Charges, so I request you, be honest and give me foreclouser with 0% charges. PFA.

1. Bajaj representative mail
2. Welcome letter
3. Sanctioned Loan Letter. PFA

LOAN ACCOUNT NO 403SPL05601381
I called many times Bajaj customer care to tell about my pre closure issues on personal loan and consumer loans and also I went to Bajaj office Chennai 3 times and also I mailed couple of times, BUT there were no proper response/guide for my queries.

Yesterday I called bajaj finserv to tell that I am going to cancel ECS from my CITI bank account if you are not responding with in a DAY but I did not get any response on this. So I cancelled it today.

I am going to file a consumer case against Bajaj personal loan department so I need to know the concern person where the consumer case begin on him.