Bajaj Finserv — Personal Loan Foreclosure Charge

Address:	Bangalore, Karnataka, 560078
Website:	bajajfinserv.in

Dear Sir/Madam,

I am Rajkumar from bangalore, and i have 2 personal loans with bajaj finserv.

The 1st loan account number is 404SAL15721134. The loan was taken on 28th October 2015 for the amount of rs.5, 00, 000 with a tenure of 36 months and interest rate of 13%. The 2nd loan account number is 404SAL23423066 and the loan was taken on 27th May 2016 for the amount of rs.3, 50, 000 with a tenure of 60 months and interest rate of 14%.

I am a customer with bajaj finserv for more than 5 years and have been diligently paying emi’s for both these personal loans. I had also taken an auto loan before this and have closed upon the completion of tenure.

For both the personal loans, they had clearly told that there will be nil pre-closure charges and even my loan agreement reflects the same. While applying for loan, the bajaj finserv executive convinced me and committed me for the nil foreclosure charges benefit. They told me that due to nil foreclosure charges benefit bajaj finserv charges are high as compare to another bank.

I took both these loans for the benefit of nil pre part payment /foreclosure charges, and i am looking to close both the loans now.

When i enquired in customer care of bajaj finserv on 9th Feb 2017, they sent me foreclosure letter with additional 4.6% charges. It may be applicable to the new loans taken.

If reputed company such as bajaj finserv are changing the policy terms they should notify customers at least 15 days prior.

I struggle so much to repay the loans, except these i have other loans as well, somehow i arranged money to pre-close these loans.

Please help me in this case, as they are cheating me on the basis of showing and removing of nil foreclosure charges.