Complaint regarding foreclosure charges by Bajaj Finserv

I have a personal Loan from Bajaj Finserv of 720000, since November’2015 , I was comminicated Bajaj will not be charging any foreclosure charges, aftre first installment , that led me go for them inspite of high charges.

I have regularly paid Installment without any delay.

Now I am trying to close amount account, however I have been asked to pay 4.60% Foreclosure charges out of the blue, citing “Policy change due to prevailing market condition”

I have communicated witrh bajaj via Phone & mail, however they are not ready to waive it off. I feel I am not obliged to pay them this because:

1)I was not contractually obligated(as per agreeement)
2)The Policy was sold to me stating ther is no Foreclosure charges
3)It should not be applicable to the old customers
4)The change in policy was not communicated to me , prior my request to close it.

Its a matter cheating & mal practices in business. moreover lacks ethics. Requesting you to help filght it out with them on this.

Sayan Basu
Gazipur, New Delhi 110 096
Email: / 13/06/2016 / 11:40 am

5 comments for “Complaint regarding foreclosure charges by Bajaj Finserv

  1. Deepak
    28/06/2016 at 1:56 pm

    same is happening with me as well.How can they ask for foreclosure charges.They have sent an email as well in which they said nil foreclosure charges.This is really unprofessional.

  2. Rudra Shrinivas
    04/07/2016 at 9:39 pm

    Dear sayan basu and deepakji, same is happening with me.i think we need to take some legal action on this, please share your contact details with me 9722409949

  3. vaibhav
    13/09/2016 at 2:56 pm

    same thing happened to me

  4. Parmendra
    23/11/2016 at 1:29 pm

    I also take personal loan from bajaj finvest in may016. At that time bajaj tele caller and representative clearly said that there will be no foreclosure charged to you, whenever you repay outstanding amount, but now they are asking me to repay loan with 4.6% foreclosure charges. This is very embarrassing and a case of cheating. Plese suggest me what legal action should be initiated against bajaj.

  5. Raja
    21/03/2017 at 10:47 am

    iam also facing the nsame problem, they haven’t communicated and also it should not be applicable for the old customers who got loan before 2017.

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