Bajaj Finserv Complaints & Reviews

I have taken two personal loans on bajaj by 2014 and 2016 with nil foreclosure charges. I have e-mails from bajaj representing nil foreclosure charges. I am now planned to balance transfer the above (2) loans and (1) existing loan in axis bank to tata capital to reduce my emi burdens and rate of interest.
When i reach in person to bajaj finserv chennai office, they asked me to pay 4% of foreclosure charges to existing principal. I asked them that i am have nil foreclosure charges while i am commits the loan and shown the e-mail reference. They asked me to send e-mail to [protected]@bajajfinserv.in to complain. I sent e-mail. They replied that bajaj changed their policy by june 2016 adding 4% foreclosure charges. I fight with them, why this apply to existing customers taken loan with nil foreclosure charges. Already i paid 2% of processing fees for the total loan amount. They are asking me to pay extra 16000 rupees to foreclose the loan. Tata capital provided me the cheque to foreclose the loan. They are going to start their emi by july.
I am in critical situation that i need to close this bajaj loan to avoid additional emi's for july.
I need justice from bajaj to follow their promise of nil foreclosure charges while i am taken the loan.
Please help me out from this issue.

Emi is deducted twice for loan account ending with 3163 from my bank account after due date and i did an online payment also for the same loan as the executive from bajaj finance called and said they don't deducted the emi after the due date and i'll have to pay online or cash to their executive... As the emi is taken twice please resolve this asap

Thanks

I had call some personnel loan offer about 4% interest rate on that time i said i will think but do not proceed now. But bajaj finance team had approved my loan 334000 without my permission also taken processing fees and all other changes including insurance coverage net total 20000 from that loan amount from my side and credit me net amount 31995 with interest 15.96%. Means they totally lie on a call and forced to customer for loan.

After crediting amount i was tens how can bajaj finance team credit loan amount without my permission. So i have try so many call but no one response from there side, i have written mail to web care still i didn't get any feedback from there side.
Finally i have visit wakdewadi bajaj finance branch, but there also no one response properly when i was try to explain i don't want loan still you people proceed. After so many debates they said to give me canceled check from your side after that will cancel the loan you can refund to us from check. Still process is pending mount not credited on there account.

Bajaj finance — deduction of amount from my account info: bajaj fin mndtvrfchgs may-17

I have bought the samsung ac from khosla electronics in the month of april 2017 and i have paid all the charges required for the card formation.

On dated 16.06.17 i have observed that the amount of rs.115 has been debited two times from my account as mentioned above. I do not understand that, why the above mentioned amount has been deducted as already i have paid the additional amount for the charges of the emi.

Please let me know what are these charges exactly.

Hi my name is sahil, i took multiple loans from bajaj finserv and i paid full amount of my loan but my loan account is showing sattled. I received noc also from bajaj. Due to this reason i am unbale to get any loan. I report bajaj finserv mutliple time but they are not responding even. I can give you noc and all repaymnt schdule. I tried for new loan but all time my loan rejected stated that my cibil is not good. I made late payment of 2 or 3 emi s

I was approached by mr jayesh, baroda & mr piyush for professional loan. They had promised that no interest will be charged until the portal will be opened. But the case was just the opposite. On giving email to the co. They said you give voice recording of one of the above 2 persons or tell them to email them. On approaching these 2 people they instead of sending the email asked me to talk to their regional manager. These people are just finding ways & means to fool you and extract money. They are all white colored goondas. Please be very careful in dealing with this co and it staff.

Not recommend to anyone.. They are cheaters n make people fool. Better to go with capital first or tata capital but not bajaj at all. No professionalism at all and will ask all # question. After they approve loan they will year years to disburse that loan.. Some people won't get amount in their scout after they sanction. Worst people n worst service.. Uneducated people. There is no cordination between the team.in a day 6-7 times they will call unnecessarily.. Plz don't take loan from them and screw ur own happiness 🙏🏻

Bajaj finserv — zero pre closure charges promised but terms of agreement changed without notice


I took a loan from bajaj finserv which promised zero part payment and foreclosure charges. When i am about to foreclose the loan now, i am being told that the terms and conditions have been changed by bajaj and now i would have to pay 4.6% foreclosure charges. They are citing a clause which we sign that bajaj reserves the rights to change this at any point of the tenure. Understood!!! But this is cheating and not sure why government is not doing anything against it. When they sell their loan they offer whole lot of perks and retract when it comes to closing the loan. Zero charges was a usp for bajaj which prompted me to go for it even when other banks were offering lower rates. I would strongly advise not to go for bajaj loans.

This is a fradulent sales & cheating the customers. Seriously begging the goverment to take a serious action & save such innocent people

Hello indians,
Myself harikumar ([protected]), i am here to tell you public theif who is looting money directly and openly. I have taken a loan of rs.2, 70, 000 on 02/12/2014 with bajajfinserv.
I requested for a pre-closer letter they told me that i have to pay closer charges.
I have been promissed to pay zero percent precloser charges but now they are not sending the letter.
They are asking to pay more than 4 % and with 15% service tax.
I have been trying to convey this via many media, called to customer care and sent a mail to [protected]@bajajfinserv.in they strongly reply that "we cant lavy that fee"
Also this policy was approved from june-2016 but i have taken a loan in 2014 itself. So for old customer also they are doing the same.
I have registered a complaint in govt portal.
http://www.consumerhelpline.gov.in/index.php
Customer id 18939112
Loan account : 404spl05789026

I am very disappointed that at the time taking loan and they sent nil foreclosure charges. And when i requested for foreclosure letter on[protected] they sent with zero foreclosure charges. At that time i could not close. When i asked for the same 1 week back they started that that 4.6 percent charges i need to pay which is not acceptable. I have sent many mail s regarding this but no use. They are not committed for the one which send sent 2 months back. Becareful we can't relay on them.

Complaint about ur staff deployed in narwal jammu namely vikas choudhary and sahil. The behavoiur o[censored]r staff is too much rude. I asked mr. Vikas where is ur manager is telling me that i am the manager and also i[censored]r company didnot clear my dues through ecs mode than why should a customer pay late fee. I asked vikas that i will mail ur company he is telling jao kro vo kya ukaad lenge. This is the tone o[censored]r staff. Kindly take action against him or i will file a case in consumer court against bajaj finanserv company.

I took a loan from bajaj finserv which promised zero part payment and foreclosure charges. When i am about to foreclose the loan now, i am being told that the terms and conditions have been changed by bajaj and now i would have to pay 4.6% foreclosure charges. They are citing a clause which we sign that bajaj reserves the rights to change this at any point of the tenure. Understood!!! But this is cheating and not sure why government is not doing anything against it. When they sell their loan they offer whole lot of perks and retract when it comes to closing the loan. Zero charges was a usp for bajaj which prompted me to go for it even when other banks were offering lower rates. I would strongly advise not to go for bajaj loans. I have given then 1 start but they don't even deserve a rating.

Sir,
On 23may i got a call of being elligible of a personal loan for which i have to pay only interest on the part of money used. I then went to their office to check about the veracity. I was told to meet mr vikram in that office. On talking with him i came to know about the scheme. I categorically asked him about the offline mode as i do not operate online due to unavailability of net connection at my area. He confirmed me about the availability of offline mode through a mail document. There was no point to doubt the person as i saw him working in the office. After sending ok message he said virtual account details will be generated. But after signing the document on 24 may i did not get any virtual account number till date. Every time my query was answered by his postponment of date. On 31 may loan amount was transferred to my account. On 01 jun on query by the call center person of any service required, i made him know about the trouble. He said issuing of virtual account number is stopped but he is registering my query for further query. When the same was informed to mr vikram and mr harihar verbally and mail they were not in the know of the facility being stopped. I then requested them to either you arrange for the virtual account number or return of the loan. Now they are refusing to accept back their loan. After filing a complaint through this forum on 08th jun 0217, i received a call from mr ajaya saxena finance manager expressing regret of the inconvenience and asking me to reverse the amount in their account, but when i wanted to check the veracity of the individual he got annoyed and for which i could not check the veracity. When checked from local authorities, they refused to identify him. I therefore request you to check the veracity of the individual and let me to solve the issue

Bajaj has fraudently used my identity documents in multiple loans which were never availed by me.

And they have given me a single bank/cc address documents associated with these accounts in last one yr.

Later i started getting unsolicited emails and phone calls from kotak. Upon asking kotak told me that bajaj has sold 25 lac loan accounts to kotak n kotak got my phone number from there.

Even kotak is not giving me the documents of loan account.

One yr back kotak had even appologized me for blunder but they have started making calls again.

Beware of them!!

Hello,
I had my loan from bajaj finserv complain no. 418dpf28486139 i guess. It had 8 emi's, i made a foreclosure payment to complete the loan on march 30th. Still my amount was deducted on 6th of june (Which is not my emi due date. My emi due date is 2nd of every month). I couldn't understand what was going. That was the survival i had for that month and now it was gone.

I made a call to the customer care representative, the day you made payment it was under presentation period. So it would deduct the amount automatically.
You would get refund after 13th june. Call got disconnected somehow so i called again then the representative said you would get refund around 10th june. I talked to his manager. He said within 4 to 5 working days we will try to refund the amount. I talked to his manager he said to give 48 hours to him and he will sort the issue out. They called me next day and said the refund will be made only after 14th since the amount is not settled. Neither i, neither the senior escalation manager had any idea what that meant. So i was like super angry and told him to get the answer and call back. Didn't heard from them since then. And today they sent me a mail regarding the refund process has started.

My argument:
1. If its in presentation period! Why does it not inform the user that the next month emi will be deducted even if he pay now.

2. When are foreclosing your loan, that means you are clearing out all your debts. Then why does it still deduct (Presentation period doesn't make any sense here).

3. Even if the money is deducted the refund should be quickly. I had that as my survival money. What if i could have got in accident?, or what if am traveling somewhere, had to pay emi? Why should i borrow money from somebody else coz bajaj finserv messed up.

4. They say, its written in policy, yet i tried to find it but i couldn't. Apparently it must be something only know to the employees of bajaj finserv. General customer should just assume that it must be presentation period with out any knowledge of it whatsoever.

5. They told me that, you should have called us after making the payment.
Firstly, if the user don't know that this is presentation period, how would he call.

Secondly, the online system is made for the convenience o[censored]sers. What the point of it if we have to call every time we make payment.

6. Senior escalation manager says "you should have gotten a message of presentation period".
Firstly - no other representative below him knew about this, so he might be fabricating it.
Secondly - i didn't get any message stating the presentation period. Else i wouldn't have spent hours talking to them.

7. They ask to amend their policies, but its fine that if they don't.
E. G. 1 - does their policy states to send messages only when you have to take the emi or have missed the emi? For rest of the crucial things its okay if customer gets thrashed around.

E. G. 2 - if their policy states that if customer miss the emi, they should be rude to them and talk to them like they are piece of garbage. Then they are doing good job.

E. G. 3 - does their policy differ according to the employees, so the knowledge they have regarding their own policy is different. Like the date of refund - it ranged from 10th, 13th, 9th to now may be 14th june or later. There are other things on the similar ground.

E. G. 4 - they say that you can call on their customer care no. But you actually can't reach them until you got the emi section of the call. Well why? Why can't i reach to the team for my loan problem as i am facing. It took me almost 10 calls to figure out the way to reach them. So annoying and frustrating.

There are lot of things like this. What if i didn't had any other source money, that a rare case but it has possibility. I had been through so much of mental trauma coz of this. It doesn't matter to them. They won't call or update you on the situation. For them only emi matters.

Welcome to bajaj finserv family!
We are delighted to have you with us as our valued customer and look
Forward for a long lasting relationship.
Your relationship guide is enclosed with:
Loan repayment schedule: which is your equated monthly installment
(Emi) schedule
Service guide:which details out the service we provide on your loan.
- benefits & features
- fees & charges
- insurance policy details
- your guide to the online self service tool experia (www.bajajfinserv.in)
You also enjoy the following privileges* with your loan : nil prepayment
Charges
We recommend that you study the details along with the terms and
Conditions mentioned in the service guide and keep them safely for your
Future reference.
In case of any further assistance or feedback on our services, please feel
Free to call us[protected] for emi card related queries and on -020
3957 4151 for all other loans other than durable finance. Call charges will
Be applicable. You can also write in to us on [protected]@bajajfinserv.in. Our
Customer care executive will be pleased to take care of any requirement or
Clarification you may have.
We thank you for choosing bajaj finserv as your financial partner and look
Forward to an enduring relationship with you.
*any pre-existing diseases /ailments /surgeries undergone in the past need
To be declared at the time of insurance acceptance otherwise the insurance
The claim will be repudiated.

—
Loan taken in may 2016 - 7lac loan without any foreclosure fees. However they charged 4.6 % foreclosure charges stating the bajaj finserv has mentioned in terms they can change the terms at any time.

Example :in future that case bajaj finaserv or any banks can change sell a product to any consumer for 2 % foreclosure charges and after the set term duration for any closure can still charge the consumer any percentage as it wishes siting - its following the regulations are followed as per market norms. And no one can still question there organisations.

Note : if any financial institution can change the terms as they need they have to be regulated based on effective date of the changes to new customer and not to existing customer for whom the terms are already set and sold.

This way of hidden terms and conditions are exploiting the consumer friendly ethics and overwritten with bureaucracy of the bajaj finserv policy changes to there whims.

The loan product was sold to be with zero foreclosure charges as the product feature and in what manner is it right to charge foreclosure charges to consumer for a product sold with feature siting zero foreclosure charges.. (Ref above mail.) if need will share the pdf document as part of welcome letter mentioning the same as zero foreclosure charges. (27000rs charged as foreclosure) the same amount is paid and closed the loan as per day the interest rate calculation is being charged. Will share additional details if required to resolve the wrongly charged foreclosure charges.

Regards
Daniel
[protected]

I have applied for emi card, but i have not received a card or even any details from your end.
Secondly, trying a so-called customer care number where in there is no option to talk to any person who can resolve this.
I am giving the details above. Hopefully you will respond at least.
Cust id: 39555314
Rect no[protected]
Agmt no: 4100cd31914397
Name: debayan paul
Mobile: [protected]

Dear all,

Recently every day i am getting message and call from bajaj finserv. I have taken consumer durable loan. Loan no. 4000cd39689182. I need to pay emi. But reality i have not taken for this loan. Every day i am getting too much torture. No one is not responding. Final i send emails to [protected]@bajajfinserv.in. And so many times called customer care no not responding.

I got some information like at attapur pia international loan registered. I went there asked i found i have not purchased any item. And i got area sales manager durga prasad ([protected]) he is very very bad fellow. Not responding properly. Finaly he given me one no[protected].

A) i called this no. I got response this no changed plz call this no.[protected]
B) then i call above toll free no again this no chaged plz call a[protected]... B[protected].

C) again called above two numbers no. Response.

This is too much. Still my problem no solved. I need solution.

Please do need full help.

Thank you.

Best regards
Sharan.
[protected]

I have paid advance emi for loan no 4000cd36606175. After some day's i came to know that they adjusted the amount to the month of june and charged me for non payment of emi for the month of may which i have paid in advance.

If your system wrongly updates to different month than intended month, then it's your mistake to correct and not the customer's. Please look into the issue.

Even after repetitive emails to the bajaj [protected]@bajajfinserv.in they are still replying always with the same content without understanding the issue. So i got fed up and reporting it here.

Santosh anantrao gosavi,
Emi card no [protected],
Pan card - aqqpg7181c
Dob - 29th nov 1970
As i have lost my old registered mobile number, please register my new mobile number.
Old registered number - [protected]
New mob. No - [protected]
New address: om sai ganesh building r. No.406 opp. Shantaram building nandivli tekdi dombivli east

Thanks
Regards
Santosh anantrao gosavi