Bajaj Finserv — Bajaj finserv fraud in the name of insurance for Personal loans

Address:	Kanchipuram, Tamil Nadu
Website:	www.bajajfinserv.in

Friends, Be aware that, Bajaj finserv is literally making fraud and cheating the customer in the name of Insurance amount. You will not know that, you are getting overcharged. Please read my experience below and think twice, before taking any loan from Bajaj finserv. Here are the total service requests which got raised on my issue. SRN03591005 SRN03548171 SRN03538750 SRN03519015 SRN03498094 SRN03479437 SRN02344458 SRN02333722 SRN03944582 SRN03998010 and here is the story… I have taken the Personal Loan on 5th August 2014 for Rs.6, 00, 000/-, which got tied up with 2 insurance policies for Rs.21, 667/- and for Rs.4, 021/- (with the strong oral confirmation from many folks of Bajaj finserv that I will get 100% refund, once I foreclose the loan). I had foreclosed the loan on 9th March 2015 in the Bajaj Finserv Office, Tambaram, Mudichur Road and they forced me to pay the entire policy amount at the time of foreclosure (Which is Rs.21, 667 + Rs. 4021). The Executive who was at the Bill counter in Tambaram office told me that, I can get a refund of 50% by surrendering the policies after 1 year. I was shocked and explained the earlier confirmation from Bajaj finserv employees. He discussed with his manager and told me that, I need to take another insurance policy for Rs.2500/-, so that I can get 90% of the premium amount, which was totally ridiculous taking insurance after closing the loan. However, I have paid Rs.2500/- as well for the Insurance, even after closing my loan expecting that, I can get my money back. But, I didn't get the required amount credited. I sent multiple mails regarding this and called your customer care couple of times and I didn’t get a response. Please do not get into their trap. They will show up with all sugar coated words by showing attractive interest rate, but you will end up by losing a huge amount in the name of Insurance.