I applied for a personal loan a month back online through their website. I received a call from a representative stating an amount of Rupees 1,50,000 has been approved withe Rate of Interest 2%. I did confirm & the rep said YES it is 2%. I said ok & provided all documents to the person who visited my home. Later an amount of only 1,37,198 was deposited in my bank account for Loan Account Number 592PMT65524592. When i contacted Bajaj Finance team they stated the remaining amount was pre-deducted for Life Insurance which i never received any Documents. The most surprising part was when I checked my Account Statement wherein the Rate of Interest charged is 20.27% which was very shocking. I was informed 2% & was charged 20.27% Rate of Interest. Please help me with this as I am stucked paying a huge Rate of Interest.
Warangal 506013, Andhra Pradesh