Bajaj Finserv — Unauthorized charges & fake promises

Address:

600117

This is to inform that I"m very much disappointed with loan processing practice that has been followed by the Chennai Bajaj Finserv team.

I happen to avail BT option from HFDC to Bajaj in the month of Nov 2015.

Two loans have been sanctioned under SHL:

1.Home Loan-403SHL[protected] Loan amount (Rs.42, 10000/-)

2.Top-up (Mortgage) Loan - 403SHL[protected] Loan amount (Rs.6, 57000/-)

During the initial stage of Home loan process (Paper work) following benefits were promised and it was guaranteed by the manager name called (REVATHY.R) that these will be provided for sure

1. Home Loan ROI-9.5% per annum
2. Zero Processing fees on Home loan
3. Rate Guaranty
4. 0.25% of processing fees on TOPUP (If availed/borrowed)
5. Loan tenure of 20 years

Disappointments:

Point no.1-----As per the service guide that has been received after a quite while of loan disbursement its mentioned interest type ROI (9.64%- fixed for 12 months.

Point no.2-----Yes its been done, as agreed.

Point no.3------I do not see any term as Rate guaranty in your service guide.

Point no.4-------0.50% has been charged against top-up loan as an processing fees.

Point no.[protected]As per the service guide the loan tenure mentioned is 300 months, which is 25 years.

1. Now I"m quite disturbed and even regret to be associated with such non standard banking system.
2. No proper communication (or) coordination was served.
3. Despite of Informing that I would not need the Home Loan protection plan as I already have one with HDFC and the same holds good to change the assignee.
4. Now as I have received the loan details it"s very shocking that (Rupees one lac) has been forcefully charged without my knowledge.
5. when the TOP-UP loan was offered, I was asked to confirm the required amount and I requested for only 3-to-4 lacs which was actual need of that moment, But the loan sanctioned is (6, 57000).

EXPECTATIONS from BAJAJ FINSERV MANAGEMENT are as follows,

* My humble request to the respective authority in charge to remove the uninformed (HomeLoanProtectionPlan) from the principle and resent a new loan details with just the Homeloan principle alone. I hereby confirm that there was no form (or) agreement was made on HLPP.
* Convert the home loan interest to 9.5% as promised with Rate Guaranty support.
* Refund (or) Adjust the excess charged 0.25% processing fees against TOP-UP loan.
* Reduce the Tenure to 20 years, Instead 25 years.
* On TOP-Up Loan, Half of the loan amount that is (3, 14000/-) has been disbursed and I"m yet to receive the remaining amount, I suggest to cancel the pending/left out disbursement and resent the exact loan details which needs to be paid off.

I would expect your team to follow some standards, instead forcefully selling products.

I"m left out with two options.

1. File a case against Bajaj Finserv in consumer court for forging and forcefully selling products to poor customers. (As per IRDA its a day light robbery)

OR

2. COMMIT SUCIDE... so that my family will be relieved from a huge burden.


After making enormous efforts by calling Customercare, everytime I get to hear that your queries are under process and we need 10 more days to resovle your issues.

Now, the supervisor incharge from the CUSTOMER CARE has turned up and asking for proof that I received from the sales team which didn't happen in my case.