Bajaj Finserv — Bajaj finance cheating in policy terms and charging extra without any prior notification

Address:

New Delhi, Delhi, 110053

Dear Sir/Mam,


I am Ravi Chaturvedi from delhi. I am having personal loan from bajaj finance about 5 lac. I took this loan in September 2015 now i want to foreclose this loan.

When i applied for this loan they offer me nil (0) foreclosure charges benefit and charged me 13% rate of interest and 2 % processing fees. However at the same time i was getting offer of 12% interest and 0%processing fees from another bank. But the bajaj finance's executive convinced me and committed me for the nil foreclosure charges benefit.They told me that due to nil foreclosure charges benefit bajaj finance charges are high as compare to another bank. So due to only this benefit i accepted their loan.

But now i am going to foreclose this loan they are telling me they have changed the policy terms which is effective from 1 june 2016 so now you have to pay 4.60% foreclosure charges on outstanding loan amount. I told them i accepted this loan only due to nil foreclosure charges benefit and for this i have already paid extra interest and processing fees in starting. and If you are changing your policy terms you should notify to us at least 15 days prior so i could close this loan before june but you did not inform me anything about this.

I told them if you do not remove this charges i will not pay any emi but they are denying my request and threated me if you will not pay this will impact your cibil score and will not close my loan without charges.

Please help me in this case they are cheating with me on the basis of showing and removing of nil foreclosure charges benefit.

Regards,
Ravi Chaturvedi
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