Dear Sir/Madam,
I am writing to express my deep dissatisfaction and concern regarding a recent incident involving my loan
account with Bajaj Finance. On 02 November 2023, I diligently paid the full loan amount of 5625 as per
the agreed-upon terms and the loan statement.
To my dismay, on 04 November 2023, Bajaj Finance initiated another debit from my account, deducting
the same loan amount that I had already paid. Additionally, a penalty charge of rupees 354 for late
payment was imposed, despite the loan amount being settled on time. This unauthorized deduction has
caused significant financial inconvenience, jeopardizing my education fees and essential living expenses.
The lack of any prior communication or notification from Bajaj Finance regarding this additional debit is
highly problematic. The absence of a confirmation message after the deduction is unacceptable from a
financial service. I urgently request that Bajaj Finance thoroughly investigates this matter, provides a
proper clarification, and takes immediate steps to refund the deducted amount back to my account.
Despite persistent efforts, I have only received a partial refund of rupees 354, with Bajaj Finance
suggesting that the remaining amount will be added to the next month's payment. This unilateral
decision is unreasonable and has caused severe stress and financial strain. The purpose of an EMI is
defeated when a substantial sum is deducted in a single month, affecting my ability to meet basic needs
and obligations.
This unexpected and unauthorized deduction has created a dire situation for me, and I am deeply
dissatisfied with the service provided by Bajaj Finance. The handling of this matter has been far from
satisfactory, as highlighted in my previous communication with Bajaj customer service.
The explanation provided, considering the additional deduction as a prepayment for the next month's
loan installment, is unacceptable and detrimental to my financial situation. The initial payment I made
was designated for a specific purpose and should not have been repurposed without my consent.
Moreover, the lack of communication and transparency in this matter is concerning. I expected to be
informed when such deductions were to take place, especially if they were not part of the regular
schedule. The absence of any prior notification is deeply troubling.
I kindly request a thorough review and resolution of this matter. The financial hardship caused by this
unauthorized deduction is unjust and has put my education and well-being as a student in jeopardy. I am
also requesting compensation for the stress and difficulties I am facing due to the unauthorized
deduction. As a student, the deducted amount was crucial for my room rent and other daily expenses,
and its absence has left me struggling in my daily life.
Furthermore, I would like to bring to your attention that the communication from Bajaj Finance
customer care officers has been unsatisfactory. Initially, they stated that no penalty was imposed, then
requested proof in the form of statements, and after five days, they sent only a portion of the penalty
amount, claiming an inability to provide the remaining sum. This technical error and inconsistency from
Bajaj Finance are highly concerning.
I urge Bajaj Finance to rectify this issue promptly, refund the deducted amount, provide full
compensation for the stress caused, and improve communication and policy transparency to ensure such
incidents do not recur.
I urge you to reevaluate the policies and actions to better serve the customers and maintain their trust.
Sincerely,
Kiran Jaison
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