Bajaj Finance Complaints & Reviews

Mr. khatawkar Shriganesh, Pune
25.07.2012

Respected Sir,

I purchased sony camera worth Rs. 14599 /- from Dass Electronics, though Bajaj Fianance. ( receipt attached ) I repaid its all Emi. in time. I lost documents in my home shift regarding the loan agreement and I have no account details. nos of the same at present
After wards last year I also purchaed another two products i.e home theatre and oven from LG showroom on Bajaj finance. amounting 32,000/- , of which I paid the same before time
.
Last year there was a phone call only through Bajaj Finance regarding the amount to be paid for camera , on acount of cheque bounce charges . While I requested to give me the details at my postal addresses to confirm it , but they were said that the executive will come to recover the amount and you keep the same ready.
Afterwards there was no single letter on a phone call . Yesterday I got the call again for the same reason and said to keep the amount of 2250/- at your home. While I again asked for the details regarding A/c no and other details in brief they clearly denied and only said to keep the amount ready.. I given the reference of the another loan issued by Bajaj Finance , and asked the madam why your firm sanctioned the new loan prior to recover the old dues when I was defaulter to the loan for camera, why you given me the another loan of 32,000/-. and you can recocer that dues prior to giving me the new loan. She replied that I dont know.

It was not at all expected by the lending organisation. Then I asked the name of the caller, the details of the call given below.

PHONE NO : [protected] , today - wensday at 12.40 pm , as on 25.07.2012 caller name - Janaki Madam.

Yesterday I requested on the same phone call that if you given me the details regarding the loan A/c no I can pay the same in Bajaj Finance at wakdewadi branch, she denied to tell all the details and was forcing to pay the amount with our executive to whom we are sending at your home. It is a matter which I doesn't know why they are spening such a long period and by calling me ones a year and after 3 years period such a meaningless replies are providing so easily. It may be due to earn interest on dues to earn while showing that the lending amount is being given on 0 % rate of interest.

Sir this all minds very toruble some to treat this way to the regular customer, what they expect exactly I didn't realise.

Instead what a genuie customer can expect from such organisation that they may send a copy of letter in writing to recovewr the correct dues at their address and provide them the details and then to recover the same.

Expecting justificable action please sir.

Thanking you


Mr khatawkar shriganesh;
Pune.

Hi,

Greetings of the day,!!!


One of my friend is selling his discover 135cc Bike of 2007 model, the condition is, engine: excellent in condition, mileage is 50km/l, he is the one owner of that bike, and bought it for 58000, now what will be the re sale value for that bike,
Choosing discover is good or any other companies model is good according to you? can you suggest me on this, because I'm looking forward to purchase a bike.........


Thanks and regards
Sriram Varadhan

Dear,

Today on 23rd july2012, I got call from [protected] said name Inspector Tyagi from Delhi control room and told me that there is arrest warrant on my name and is going to provide details to local police station to arrest me, then he gave me one mo. no i.e. [protected] said name Advocate Malik, I called him he told me that deposit 15212/- in HDFC account [protected] of Bajaj Finance Ltd. immediate and was calling me very continues to deposit ASAP to stop warrant. After that i went to Wakdewadi office of Bajaj Finserve and was waitting there for more than three hours to check details Sudan I got call from[protected] said name shekhar told me to deposit in office RS. 4600/- now he provided few information that is not found in Wakadewadi office and people here told me to go Delhi to get the information. Now I have wrote this incidence to Manager with received copy.

But, the question is how this Bajaj People can Make this kind of call to any person after long time becouse as per there information I had taken that loan in 2006 but that year I was in California, now they gave me Loan Account no i.e.[protected] and information is not available in H.O. of Bajaj Finance very reticules, Nonsense. and I took loan from bajaj in year of 2011for LED TV purchase and i have repaid and i have NOC also. If i have made in fraudulence in 2006 why they gave me Loan in 2011? all of sudden how they can make call without sending any notice?

I would request to every consumer not to take loan from any Bajaj Company.

change of address is not updated pl contact mob [protected]/emi card not recived

From: noreply.[protected]@bajajfinserv.in [mailto:noreply.[protected]@bajajfinserv.in]
Sent: Friday, July 06, 2012 11:11 PM
To: wmantri.[protected]@gmail.com
Subject: Your Wecare SR Number : 2027167

Dear Customer,

We thank you for writing to us and acknowledge the receipt of your email. You will receive a reply from us within 4 working days.

Your Service Request no. is : 2027167
For an easier and faster access to your account details, please use our new IVR (Interactive Voice Response) facility on our Customer Care toll free numbers:[protected]for EMI cards) /[protected]for all other loans). All of the following information and more is just a click away on our IVR -
• Loan Information
• EMI related - balance, last payment
• Statement of accounts
• NOC
• Security Deposit Refund
• EMI Card
• TDS Certificates
Should you have any friends or relatives who are interested to avail any of the following types of loans, viz. Consumer durable loans, mortgages, construction equipment loans or business loans, please do refer our services. We shall be glad to assist them.
Please Note: For adding the Landline number, proof of Landline bill is mandatory, for adding or editing the mobile number, the verification code will be sent to your number which you will have to enter on the website.

Assuring you of our best services always.

Yours Sincerely,
Bajaj Finserv Lending
P.S. This is a system generated Service Request number and response for every query/interaction raised with Bajaj Finance Ltd

Whom so ever concern….

I would like to bring u notice that loan #4040cd00310025 amount of Rs.1531…. with out my information and my approval u r dedicating so please stop that ASAP…. B’coz u r pune executive has told me that once u read the document then v will go head and I will intimate with call and I take u r confirmation then only I will processed…even though the document has not reached to me… before taking any kind of action please stop that and ASAP contact me….[protected]
And more even I have contacted Mr. Balaji [protected] who works at Reliance Digital at mantrimall Bengalore..but is not a tall help full in the matter..He only made the insurance and now is denying. then to fowling from past one month.. I don’t know wt kind of customer help u have in this issue.... this the insurance details below

Agreement No. : 404BAL00310025 Repayment Mode : ECS
Type Of Loan : BALIC PREMIUM CD LOAN Gross Tenor In Months : 10
Loan Status : Active Net Tenor In Months : 10
Status As On : 09/07/2012 Balance Tenor In Months : 8
Repayment Frequency : Monthly EMI Amount : 1,531.00
Loan Amount. : 15,304.00 EMI Start Date : 05/06/2012
Disburse Amount : 0.00 EMI End Date : 05/03/2013


Thanks & Regards


Syed Riyaz Ahmed

MANUFACTURING DEFECT IN DISCOVER 150CC
DEAR JURY,

I HAVE PURCHASED DISCOVER 150CC ON 2nd MAY 2012. AFTER NEARLY 1 MONTH I
FOUND A MAJOR PROBLEM IN BIKE I HAVE STARTED IS THE BIKE IS NOT STARTING DURING RAINS AND ALSO STOPS IN THE MIDDLE OF THE ROAD WHEN THERE IS RAIN. DUE TO THIS I FORTUNATELY ESCAPED ACCIDENT 3 TIMES AND REACHED MY OFFICE LATE DUE TO WHICH MY SALARY GOT DEDUCTED.

REQUEST YOU TO PLEASE GIVE ME JUSTICE. I WANT THE BIKE TO BE REPLACED OR MONEY BACK.

REGARDS,

ASHOKPANCHAL
FARIDABAD(HARYANA)
[protected]

VERY HAVY INTEREST RATE
MY LOAN RS 34,000 IN THAT I HAVE GET ONLY RS 30,907 IN MY ACCOUNT THEY DEDUCT RS. 3,097 (UPFRONT INTEREST CHARGES & GROUP INSURANCE PREMIUM) (THIRTY THOUSAND NINE HUNDRED AND SEVEN) LOAN PERSONAL LOAN FROM FINANCE CO . BAJAJ FINANCE CHARGED ME RS 1632/- EMI FOR 36 MONTHS.I HAVE TO PAY RS 58752/- FOR 30907/-. SO INTEREST IS[protected]=27845/- EXTRA I HAVE TO PAY IT IS 90.09% INTEREST RATE (27845x100/30907 )
SO MY COMPLAIN IS HERE BELOW:-
1. IS RBI ALLOW ANY FINANCIAL CO TO CHARGE 90.09% INTEREST ?

2. IS IT LEGAL TO CHARGE RS 27845/- INTEREST FOR PRINCIPAL AMOUNT OF RS 30907/-

3. I AM PAYING RS.1632/-EMI EVERY MONTH IN RS THAT RS 1632/- I DON;T NOW WHAT IS MY PRINCIPAL AMOUNT & INTEREST AMOUNT
I

4. RS 1632/-EMI x36 MONTHS= RS58752/- SO RS 27845 INTEREST ON RS 30907/- IT IS VERY HAVY
RATE 90.09% I WANT REQUEST TO NOTE MY COMPLAIN. RBI SHOULD NOTE THE CALCULATION THANKS WITH REGARDS.

I have cleared the all outstanding dated on 14/06/12 that finance staff committed me noc received 18/6/2012 so i have call the staff 19/6/12 but call not pick and not provide solution so plz healp

My loan A/C- L2WAGR00656743

Sir,I am S.Geetha

Sub: Requisition for Refund of Initial processing fee – Reg.
Ref : Loan Application Agreement No.403CSH00117953

With reference to the above, I wish to bring the following matter for your kind perusal and immediate action:
Sir, I am an existing customer of your esteemed organization since 2010, I had availed a Housing Loan from “India Bulls housing finance Ltd” and the Loan has been serviced promptly and continuously without any irregularity, all the EMIs were paid upto date.
One day your company’s Asst.Manager (Mrs. Jamila Annadurai –[protected] approached and asked us to avail Loan from “Bajaj Finserv” . She told that she want’s to take over the above existing loan of “India Bulls” at an attractive terms of Interest, since the rate of Interest of your company is lower than the India Bulls, we also accepted for the same. The Regional Manager Mr.Saral Sharma(Cell no.[protected] and Area sales Manager Mrs. Carolina Mathew[protected] after being visited to our premises they sanctioned the Loan. However they asked me to pay a Processing fee of Rs.1,20,000 and other charges of Rs.2,999/- upfront, but I requested them to adjust these charges against the loan amount to be sanctioned to Me, since they have not accepted for this I have paid the above charges prior to the date of disbursement of the Loan itself.
Sir, at the same time “India Bulls” also wants to charge us with 3,35,000/-towards foreclosure charges on the above loan which seems to be so huge amount for me. Due to this reason we do not want to close the India Bulls loan, and the same has been informed to your Managers; then they promised us to refund the processing fee of Rs.1,20,000/-collected from me earlier. This seems to be atrocious that, without availing any loan charging a honest customer with huge amount of fee for nothing. Sir, none of the above managers are now not properly responding to our calls, the processing fee also not yet refunded. This issue is going on since February, 2012.

In this regard I request your good selves to kindly look into the matter and refund the processing fee amount of Rs.1,20,000/- at the earliest, this would help me a lot in managing my financial crunch.
Kindly do the needful
Thanking you.

Yours Truly

Mrs. Geetha.S
W/o.R.P.Srinivasn
[protected]

We Purchased a product from Reliance Digital and were offered Rs 41512/- as consumer durable loan (interest free) from Baja Finserv.
They did not provide us documents and got signed certain agreements.
A total no. of EMI's was told and it started on time.
What was shocking that after the expiry of period, Bajaj Kept on deducting the EMI. When we noticed, we ran to the store.
To our shock, they already knew it and told that it would be refunded.
The story does not end here.
Bajaj accepted that it has charged more EMI and said that it would refund (though it took a long time for them to accept this fact and they made us run from post to pillar).
When the time of refund came, they told us that Reliance has done the fraud and fruaulently taken more money..Finally after discussions, it was proved that Bajaj Finance Ltd was at the wrong side. They called us again and again but failed to refund on one pretext or another.

THESE PEOPLE HAVE ACCEPTED THAT THEY HAVE CHARGED MORE EMI'S..is anyone at top at Bajaj Finance listening to this?????
I'm sure they refund the people who approach once they find out the truth and gulp the money of consumers who do not notice this.
I am now looking for refund+cost of harassment+ my travel cost to the store+other expenses incurred due to their negligence.
We are now seeking remedies for this fraud company and would highlight it so that the consumers are not taken for a toss.

Thanks/regards,
Ganesh Kamath
[protected]
[protected]@gmail.com

I have availed of cdloan in 10/05/2008 to 10/04/2009 for 3 accounts[protected],[protected],[protected]. Despite paying by pdc chq's in advance my a/C shows some o/S in each loan accounts.

I had given u pdc cheques, how can u charge me for late deposition of chq's from ur end or maybe technical problem at ur end.

1). Pls revert back the charges in all 3 a/C's.
2). Delete my request in pre offered loan for personal loan rs. 43,000. I have already bought that product.
3). Issue me noc for the same.

Amit U Shah
shah.u.[protected]@gmail.com



CC: bajaj legal dept

I am Pranab Hazari. I had purchased a Bajaj Discover 125cc from ASA Enterprise, Kalyani on bajaj auto finance. I had been paying the monthly installment but please known to me that if I would be fully pay after five month then how many amount will be paid. Also I need a detailed statement that how much I have paid.
My details are given below.
Name: PRANAB HAZARI
Email: [protected]@yahoo.co.in
Loan Agreement No: L2WKOL01619515

Kindly do me the needful
Thanking You
PRANAB HAZARI

I have a loan account number 4010CD00199983 from Bajal Finance Limited (Bajaj Finserve). My first installment was due on 5/5/2012 through ECS. On 21/5/2012, I received a call from Bajaj Finance that the ECS transaction could not be completed due to some server/system problem at their end, and that I needed to submit a cheque for the installment amount i.e. Rs 4050. He confirmed that since it was a technical problem for their side, I won't be charged any penality. I issued cheque number 477030 of PNB on 24/5/12. On 28th, I received another call from Bajaj Finance executive saying that the cheque had bounced, and that I needed to pay by cash. I paid the amound by cash on 28/5/12 vide their receipt number 3002318 dated 28/5/12. I asked for my bounced cheque which the executive never returned to me. Today, I checked my bank statement and, to my utter shock and disbelief, found that the cheque number 477030 dated 24/5/2012 got debited from my account on 28/5/2012. I then checked my loan account statement which even showed the penality of Rs 350 charged to my account on 21/5/2012.

Do we expect such fraudulent practices at Bajaj Finance? Does Bajaj Finance cheats hapless consumers like me adopting such unethical practices?

I appeal to Bajaj Finance to withdraw the penality of Rs 350/- and to return my amount of Rs 4050 alongwith applicable interest immediately which has been fraudulently charged in excess from me.
Neeraj Goel

how much amount i should pay?

i have purchase an LCD from vijay sales and took loan from Bajaj finance and they unintimately they charged me for medical coverage for me which i was not in need still after few months the loan was cancelled now its been 1yr still the debited amount is not yet credited still they are irresponsible to reply me or credit my balance i have all the documentation ready for me

I have purchased one 1 Ton 5 star AC machine from Great Eastern Trading Company(Sinthir More) on 28.04.2012. Besides my down payment Rs(10200/-) Bajaj Finserv people ensured that EMI is 1214 for 14 months.Their service is very prompt and quick. After 4-5 days of that I received a phone call from Bajaj Insurance for consumer protection loan which I have refused. With in two three days I received 4-5 more calls on the same subject and my answer was same. Suddenly I got a Policy paper in the last week with a reminder SMS for EMI where it has been increased by 200. That insurance agent cheated my communication and forcefully imposing policy on me instead of repetitive refusal. I am going to check finance people today other wise I will go to consumer forum.

please reply to [protected]@gmail.com

My name sudip Bose
Phone no. [protected]
Bajaj loan account user ID 7508976
Loan number 4100CD00264067

I had brought a sony LCD TV from relianceDigital Kolkata (satyam tower) on finance by bajaj and my EMI is rs.2117 but now got sms from bajaj that bajaj will take rs. 2334from me every month.WHY WHY such!!!!

It is too bad company !!!!!!!!!!!

Now,i will not pay any extra amountthan rs. 2117 for any thing.I dont want any thing eals and dontknow any thing if bajaj take rs. 2334 as 1st month emi then i willstop paying emi farther.I will nil up my account and willnot pay any money to bajaj.

If you all want then please takeaway your financed TV from me by returning my rs.9000which in had paid at the time of purchasing

Hi All,

My frustration forced me to write here.....

The communication between Bajaj employees is worst, don't know on whom we should believe, because everybody gives u different solution. I don't know if writing here will help me anyway but being an IT guy i have a trust on complaint forums.

I was working in Nasik with one of the IT company and my salary account was with HDFC Bank, everything was going well with my Bajaj Finance EMIs. Then I have joined a new company in Pune, salary account changed to ICICI, from my login on Bajaj finance website I emailed their support, please assist me with the change in Bank for remaining ECS or tell me any other way to pay. No reply to my mail, as usual i went to nasik on weekend. I thought i will go to Bajaj office and pay current EMI by cash, but they were not accepting my cash there, they told me any of our collection agent will come to your place and will take the cash. As the EMI date was on the same day i tried convincing them to take this EMI at least, they told me not to worry, they will not charge me any extra charges. No agent came on the next day, i received a call after a week that one of my EMI is due, I have explained her my issue and i found her very supportive on call. The lady told me that the collection agent will call u and will collect EMIs accordingly for all remaining months. I was very happy, my mom took the agents contact number when he came to collect the EMI.

TRUST ME I HAVE WRITTEN A TESTIMONIAL ON BAJAJ WEBSITE THAT I AM HEPPY WITH THEIR SUPPORT. lol !!!!!!

Every month on the 1st - 2nd we were calling the agent, the due date was 5th. Every time different agent was coming, they were very calm and respectful with my parents. They never came on time, they came on 10th-15th of every month to collect the EMI. They gave us the invoices of all the EMIs, i have all of them with me.

Same way, we have paid all the EMIs, though they were taking cash from me, at the same time they were showing the cheques to the bank and bank was charging me the bouncing charges. I never complained for it as after paying 3-4 bouncing charges my balance in HDFC got zero.
AT THE TIME OF LAST EMI THE COLLECTION AGENT CALCULATED ALL THE PENALTY CHARGES AND ASKED FOR IT, I GOT SHOCKED. None of the collection agent asked for the penalty charges before, for any cash payment, then how come he is asking at the time of last payment? I said no i will not pay, so he took only the EMI amount. I have asked him if we call u to collect the EMI on 1st - 2nd of every month, then why u came after 10th ? and if this way, i was getting extra charged then why didn't they informed me before, i would have closed the loan immediately, as the due amount was only[protected] INR ? No answer from him.

Though I have paid all the EMIs, started receiving calls from Bajaj collection department to pay the penalty they were calling on my land-line number, my parents were/are deadly frustrated

I have written an email to bajaj, they were/are very slow in responding emails. Last reply from them was on 30th March, the reply was as follows :
[protected]
From: Grievance Redressal Team <[protected]@bajajfinserv.in>
Date: Fri, Mar 30, 2012 at 5:53 PM
Subject: RE: Need your assistance
To: chetan sonar <[protected]@gmail.com>

Dear Sir,
We regret the inconvenience caused to you.
With reference to your loan account number 4070CD00017614, we request you allow us 3-4 days to resolve your query.
Assure you our best services always.

Thanks & Regards,
Grievance Redressal Team
Bajaj Finserv Lending.
Bajaj Finance Ltd
[protected]--


I was keep receiving the calls from bajaj collection dept, every month i was telling them that i am communicating with them on emails, but no use.

2 weeks back i have received a call from Bajaj head Mr. Amit Sharma from Nasik, I have a confusion about the name but i am 90% sure. As i had forwarded all the emails to Nasik branch members so he had already gone through all of the emails. He has accepted that, this is not at all my fault but he was convincing me for 30 mins to pay at least the partial amount from the penalty so then he would be able to close my case. I said OK no issues, the penalty was 1750 INR, he asked me to pay 1000 INR, I PAID on the same day he called me, as usual he sent one of the agent to my home and gave my parents the last paid invoice, mentioned "FULL and FINAL EMI" on the receipt. Mr. Amit told me that i should get the NOC in 2 weeks.

Now guess what, I have started receiving calls from Bajaj collection department to pay 750 INR. I told them that they only convinced me to pay 1000 INR and now why r then called me again. They are simply saying, who the hell called u to pay partial amount, though the final receipt has mentioned that its final, still they are asking me 750 INR.

I am re grating why i PAID those 1000 INR

My questions to BAJAJ MGMT are as follows :
1) Why did you still kept on presenting the cheques once you got the EMI in cash?

2) Why did your collection person came 5 to 10 days beyond the due date of the EMIs in-spite of my foll ups.

3) Why the agent not asked for the penalty at the same time while collecting the amount for the respected month ? He has not mentioned or ticked the penalty option in the receipt.

4) How will I know that my cash payment is charging me penalties ? and i will have to pay it at last ?

5) Now, though ur Bajaj employee accepted ur fault and took partial penalty from me, promised me that the loan is closed and will receive the NOC in 2 weeks. Why I am receiving the calls for the outstanding ?

The last EMI collection agent name was Sunil [protected] sent my Mr Amit. I m calling him since last 4 days and he is not even giving me Mr. Amit Sharma's contact number.

I have all the proofs, EMI receipts, mail screenshots with me.
I need the complete justification on above questions. Paying 750 INR is not at all a big deal for me, but i will fight for this injustice. U can take my feedback from other banks LIC, ICICI, CITI FINANCE, 100% EMIs were/are on time. This is the only case with BAJAJ.

Not able to attache the mail here. My LOAN number is 4070CD00017614.


Regards,
Chetan Sonar
Mob : [protected]

Dear Sir,
I dont know how to start. Today i got a call from haryana from a guy saying your arrest warrant has been issued under section 420. I was shocked as he failed to explain who has lodged a complaint.Later he has given me a number , which turned out to be a Bajaj Finance Solicitors number. He said your friend has purchased a consumer durable product but failed to make the payment , so u have to pay it. So i asked why i should pay the money. so he said coz u r the guarantor. I was shocked as i have never signed any of the document as a guarantor and that the person who took loan was my collegue but we didnt met since 2008. And the loan was taken in 2011. They harassed me again and again by threatning me of Arresting me. I confronted them, but they didnt listen. The guy who called me said he is a police officer and he is sending his team to mumbai to arrest me. I am tensed.please help... Kindly help......

I had availed two vehical loan in 2006 for my two wheeler.During initial processing i had submitted advance cheques for all the EMI's.

Suddenly bajaj had informed me that they have lost one cheque.I need to pay one EMI's along with the penalty.

I require NOC urgently.

Pl.HELP !!!!!!!!!!!!!!!

Jalpesh Shah
[protected]