[Resolved]  Bajaj Capital — Very bad customer service, and fake selling o[censored]LIP products

This is to inform the customers about a very bad experience I had with Bajaj Capital.

It all started from several of phone calls they made to my home when Bajaj capital opened a new branch at Kayamkulam, Kerala in December 2009. What they have offered is that as part of their new branch opening, we have been chosen as one among the "lucky" families to get a fantabulous offer from Bajaj Capital.

Below are the details of the FAKE offers they made to me in person, when I visited their branch

1. You will be enrolled to a ULIP plan with 15% GUARANTEED yearly returns (In spite of the RBI laws not to canvas customers with the past return hsitory as the future guaranteed income)

2. As one among the lucky family, me and my spose will win a 3 day domestic holiday package to one of the any four domestic destinations

3. They will give me a free of cost accidental insurance coverage of 4 lakhs, of which I can claim 40% in cash after 5 years

4. I just need to pay 48,000 as the yearly premium and they will put additional 2000 and make it as 50,000 annual, and my policy document will be showing 50000 as the premium paid

To avail all these, I had to pay the first premium in a weeks time as it is year end. I paid the premium of 48000 as instructed through a cheque.

Approximately one month later, I got a policy document from Kotak Super Advantage Plan which showed up only 48000 as the annual premium on contrary to what they told me as in point 4 above. Upon receiving the policy document, I called up Kotak customer care and came to know that they dont have any such offers of discounted premiums prevailing and I have to check with the agent (Bajaj Capital)

When I called up Bajaj Capital branch, I came to kmnow that the Branch Manager, Ms. Asha who made all these false promises has been transferred to their another newly opened branch at Changanacherry (To get more false business to the company from the new area???) and a new manager is taken up her position (Question 1: Does a reputed company like Bajaj Capital - if it is one - can wash their hands of any such fake selling one of their senior employees made, and why such employyes are retained??)

New Manager affirmed that there will be first year premium processing charges and that is why I am seeing only 48000, and from second year onwards I will see 50000 in the policy. She also said that the tour package details they will send to me in 4-5 months time after processing

...After almost 10 months, in Oct, 2010, still I received no information from them and decided to go to their office, which is almost an hour journey from my place. By that time, all the main staffs were replaced and they washed their hand off with such irresponsibility saying that the old manager must have done a false selling and she has been de-promoted (Shouldn't they be DISMISSED, if Bajaj Capital wants its reputation???). It was brought to my attention that there were several other customers also cheated in a similar way. They also offered me to help by lodging a complaint against their old Branch Manager and they gave me a word (another of its false promises??) that I should be receiving a call from their Customer Service head from Delhi in 2 days time.

Now it is the 10th day after I put my formal complaint and still I haven't received a call from NO ONE...! I know that this is going to be one of their another false promises, and great going BAJAJ CAPITAL with such irresponsible, inhuman and untrustworthy work force..!

I am again taking my time so that other people will get an idea of the service they are going to get from them...

A very disappointed and unfortunate customer of Bajaj Capital.
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Aug 13, 2020
Complaint marked as Resolved 
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bajaj capitals — Very poor service

The response and customer service has been horrible to say the least. I have been repeatedly chasing your representatives to get a few things sorted out. They have goofed up on two of my IT refunds and most of the investments made through the advice of their representative have been dud.

I have shifted from Chennai to Mumbai and it has been three years. However even after repeated mails and phone calls, my account has not been shifted to mumbai. Neither was a login created for me on their website.

Mails and phone calls asking for status of investments have not been answered. They only followup for new investments...

For another tax returns, even after specific instructions for using bank account for returns, the option of check was used. Since I left Chennai the return check was delivered to the wrong address and I am still following up for the returns.

I would suggets every one to maintain a distance from Bajaj capitals.

Ananth Sharma

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    Bajaj Capital Phone
    +91 11 6700 0000
    +91 11 4169 3000
    +91 11 3988 1010
    Bajaj Capital Address
    Mezzanine Floor, 97, Bajaj House, Nehru Place, New Delhi, Delhi, India
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