[Resolved] Bajaj Finserv — company refuse to cancel insurance linked to loan account

Shemal

from Un, Gujarat

Address:

Ahmedabad, Gujarat, 382350

I have taken personal loan from Bajaj Finserv. As a part of loan I was levied "CPP Shield" without my consent.
after 3 EMIs, I repaid all outstanding of loan. While at time of repaying company officer told me that only after payment gets clear, you can cancel CPP shield.
So after closing loan dues, I applied for cancel CPP Shield, but company told that CPP insurance can only be cancelled in loan tenure.
Whereas company officer at time of repaying told that it can be cancelled only after repaying only.
Why none of anyone can ensure exact information?

What should I do. its a matter of Rs. 5000/-

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Jun 30, 2018

Complaint marked as Resolved

No steps taken by company.

Bajaj Finserv customer support has been notified about the posted complaint.

Verified Support

Jul 28, 2018

Bajaj Finserv Customer Care's response Shemal, Greetings from Bajaj Finserv! Thank you for writing to us, we request you to kindly contact [protected]@bajajfinserv.in with your registered e-mail id. Thank You.