Bajaj Finserv — Bajaj EMI Consumer Loan Cancellation and Refund issue for cancelled product.

Loan account number B31ERFIN039895
I rising this complaint behalf of my brother Ekambaram.

1. Aug 02, I placed order on primeabgb website using Bajaj emi card. I cancelled product within one hour after order.
2. I waited upto 10 days for automatic loan cancellation
3. After 10 days also i seen loan not cancelled
4. So, i raised loan cancellation request on aug 12, i received feedback that mentioned my issue will be solved within 48 hours. And submitted dealer confirmation for order cancellation.
5. I waited 48 hours, loan still not cancelled
6. I raised another complaint on Aug 14 about the same. And i received feedback that my issue will be solved within 14 days working days. 14 days is very long time.
7. And i spoke to bajaj finserv customer executive about 14 days time duration, he told if loan cancelled, deducted amount will be refunded to my account. For Credit score sale I kept ₹2000 extra in my bank account. I had belief that you will refund me whatever deducted money once loan cancelled.
8. On Aug 22, for checking loan cancellation status again made complaint, still received same feedback.
9. After 14 working days also loan not cancelled.
10. On Sep 02, 1st month EMI ₹1905 deducted from account for product which cancelled. Requested loan cancellation 20 days before. You are dragging loan cancellation until next month for getting 1st month EMI.
11. So, Sep 03 i raised complaint to bajaj grievance redressal team about same issue. I received feedback my issue will be resolved within 48 hours.
12. On Sep 06, I received mail from Bajaj wecare loan cancelled. But refund amount mentioned only ₹1491. ₹1491 was credited in my account next day.
13. On Sep 07 i again raised complaint for refund issue. And received more ₹121 refund confirmation from Bajaj. Still not credited in my account. Still refund is not credited ₹293.
14. Sep 09, Regarding remaining₹293, i raised same issue. Sep 10 received feedback "We would like to inform you that the processing fees and convenience is non-refundable as per policy as the loan was cancelled after the disbursement date.
Hence we are unable to refund the amount."
Customer executive told, loan should be cancelled within 1st EMI date. Once EMI deducted BAJAJ were able to refund only ₹1612 instead of ₹1905.
15. I requested Cancellation before 10 days for product cancelled within 1 hour.
16. Bajaj finserv dragging loan cancellation for one month for earning some money from cancelled product. So that you can earn convenience and processing charges on 1st EMI.
17. Dragging loan cancellation process for month whose mistake, It is not my mistake. It is mistake of bajaj finserv for the one month process time. Bajaj finserv should take responsibility over for this long period process. Why should I loss from bajaj late loan cancellation process.
18. Even ₹1 also i won't leave. Because for every penny I'm putting my hardwork.

Payment deduction history:
Sept 02, EMI 1st month: ₹1612
Sept 02, processing fees 1st installment: ₹176
Sept 02, EMI convenience ₹117
Total: Sept, ₹1905

Payment refund history which i received:
Sept, 07, 1st refund: ₹1491 (created to bank)
Sept, 09, 2nd refund: ₹121 (mail received for refund, not credited in bank)
Total refund confirmed from bajaj: ₹1612 (which is except extra charges)

Payment refund yet to be received,
Pending refund:[protected]=₹293
Kindly resolve my refund issue ASAP.

This is email id registered for Bajaj EMI Account.

Thanks and regards
Ekambaram