[Resolved] Bajaj Finserv — huge amc 1.2% (annual maintenance charges) not convey before.

Dr. Ashish singla

from Kapurthala, Punjab

Address:

Rupnagar, Punjab, 140124

Bajaj finsrv charge huge amc 1.2% (Annual maintenance charges) charges every year just for maintaining loan amount every year along with initial processing fees. They did not convey these charges before loan, i am already charged with processing fees and amc and on questioning about it their answer is "clause 2.7 read with clause 2.9 (A) of the loan agreement executed between yourself and bfl, clearly specifies that bfl reserves a right to revise any charges that are to be applied for the loans, which has also been clearly read, understood and agreed by you." so please dont sign this clause in documents because they can change their fees policies any time. I want these charges to be canceled from my loan account

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Jul 16, 2018

Complaint marked as Resolved

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

Verified Support

Jun 12, 2018

Bajaj Finserv Customer Care's response Hi Dr. Ashish singla, 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.

Jun 12, 2018

Updated by Dr. Ashish singla I post this tag only after contacting [protected]@bajajfinserv.in, and the answer i got from [protected]@bajajfinserv.in is written in tag that "clause 2.7 read with clause 2.9 (A) of the loan agreement executed between yourself and bfl, clearly specifies that bfl reserves a right to revise any charges that are to be applied for the loans, which has also been clearly read, understood and agreed by you." This not ethical to change charges associated with loan at any time, charges should be fixed and should be well told prior to loan and should remain same throughout the entire loan term as specified to customer at start of loan.