[Resolved]  Bajaj Finserv — not providing me the noc /ndc letter

Dear Sir

Loan number: P401DBL0759190, Our loan is fully paid. We have been chasing Bajaj FinServ team for NOC Letter for over two months now.

Bajaj FinServ complaint number: SR[protected]

Now Bajaj FinServ team is demanding us to pay Annual maintenance - INR3341/-. WHICH IS NOT APPLICABLE ONCE THE LOAN AMOUNT IS FULLY PAID.

As per RBI Circular RBI/2019-20/30 DNBR (PD) CC.No.101/03.10.001/2019-20
- Once a loan is closed, NBFCs (Non-Banking Financial Companies) generally should not charge annual maintenance charges. According to the Reserve Bank of India (RBI) guidelines, NBFCs are restricted from charging foreclosure or pre-payment penalties on floating rate term loans sanctioned to individual borrowers. This implies that once the loan is fully paid off and closed, additional charges like annual maintenance fees should not be applicable.

Humble request you to please look into this.