Bajaj Finserv — Foreclosure charge imposed though at the time of disbursement it was mentioned to be nil.

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from Mumbai, Maharashtra

Address:	Bangalore, Karnataka, 560061
Website:	www.bajajfinserv.in

I want to raise this issue relating to foreclosure of my personal loan which i have taken from bajaj finserv in june, 2015. Bajaj finserv has now put in a foreclosure charge of 4.6% on the outstanding principal which is not as per agreement when the loan was disbursed. This was the main selling point from bajaj and me going with them for the loan. There were other companies offering loan at lesser rate that time but since they didn’t had this option i went with bajaj finserv.

When enquired the bajaj call center guys communicated that something has changed in due course after i have taken the loan which i believe is not right on me as a consumer. Now since i have decided to close the loan i would like to do it on initial agreed terms and conditions of bajaj i. E. Zero foreclosure charges post 1st emi payment.in email correspondence with bajaj finserv grievance cell they have denied adhering to this.

Can someone suggest any solution to this. I have raised a complaint with http://consumerhelpline.gov.in/ as well.

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

Jun 27, 2017

Updated by akmblr Sign the petition at below link for the same issue.

https://www.change.org/p/bajaj-finserv-cheating-by-nbfc-bajaj-finserv-with-personal-loan-foreclosure-charges?recruiter=[protected]&utm_source=share_petition&utm_medium=copylink&utm_campaign=share_petition