Bajaj Finserv — Foreclosure charges - wrongly charged

Address:	600089
Website:	www.bajajfinserv.in

Welcome to bajaj finserv family!
We are delighted to have you with us as our valued customer and look
Forward for a long lasting relationship.
Your relationship guide is enclosed with:
Loan repayment schedule: which is your equated monthly installment
(Emi) schedule
Service guide:which details out the service we provide on your loan.
- benefits & features
- fees & charges
- insurance policy details
- your guide to the online self service tool experia (www.bajajfinserv.in)
You also enjoy the following privileges* with your loan : nil prepayment
Charges
We recommend that you study the details along with the terms and
Conditions mentioned in the service guide and keep them safely for your
Future reference.
In case of any further assistance or feedback on our services, please feel
Free to call us[protected] for emi card related queries and on -020
3957 4151 for all other loans other than durable finance. Call charges will
Be applicable. You can also write in to us on [protected]@bajajfinserv.in. Our
Customer care executive will be pleased to take care of any requirement or
Clarification you may have.
We thank you for choosing bajaj finserv as your financial partner and look
Forward to an enduring relationship with you.
*any pre-existing diseases /ailments /surgeries undergone in the past need
To be declared at the time of insurance acceptance otherwise the insurance
The claim will be repudiated.

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Loan taken in may 2016 - 7lac loan without any foreclosure fees. However they charged 4.6 % foreclosure charges stating the bajaj finserv has mentioned in terms they can change the terms at any time.

Example :in future that case bajaj finaserv or any banks can change sell a product to any consumer for 2 % foreclosure charges and after the set term duration for any closure can still charge the consumer any percentage as it wishes siting - its following the regulations are followed as per market norms. And no one can still question there organisations.

Note : if any financial institution can change the terms as they need they have to be regulated based on effective date of the changes to new customer and not to existing customer for whom the terms are already set and sold.

This way of hidden terms and conditions are exploiting the consumer friendly ethics and overwritten with bureaucracy of the bajaj finserv policy changes to there whims.

The loan product was sold to be with zero foreclosure charges as the product feature and in what manner is it right to charge foreclosure charges to consumer for a product sold with feature siting zero foreclosure charges.. (Ref above mail.) if need will share the pdf document as part of welcome letter mentioning the same as zero foreclosure charges. (27000rs charged as foreclosure) the same amount is paid and closed the loan as per day the interest rate calculation is being charged. Will share additional details if required to resolve the wrongly charged foreclosure charges.

Regards
Daniel
[protected]