Foreclousre charges on Personal loan
Hi Experts, I have taken a personal loan in Bajaj Finserve in Mar-2016 for 5 Lakhs, during that time they clearly mentioned "Nil Charges on Foreclosure" however now they are telling that company policy has been changed i am suppose to pay the foreclosure charges of 4.60% (around 20,000). When i did check with the sales manager in Chennai office, he is telling that it is applicable only for who availed loan after May'16 and i no need to pay the amount but i have get an email approval from their grievance email id. I have sent many emails to grievance email id, but they simply replying with standard format, i need to pay 4.6%. Chennai team showing their hands to Pune team and pune team simply washing their hands without any proper reply. Please suggest what i need to do now...I have done the BT with other bank with less interest for balance amount and holding the DD in my hand for nearly one month without any solution.
Thanks
Jagadeesh more
Thanks
Jagadeesh more
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When you took the loan, the original documents that they gave you, check & see anywhere if it is written Nil charges on Foreclosure. If it was done orally & not in writing then Bajaj has cheated you by telling you lies. If it is in writing, try contacting consumer forum because these financial institutions only respond when they get a notice. more
Jun 05
Shri Chandrasekharan - kindly read the original post.....the loan is taken from a financial institution Bajaj Finserv and not a bank - so Ombudsman may not come into picture. Normally their own website (that of Bajaj Finserv) would list the nodal officers and grievance redressal officers and mechanisms. RBI would of course come into picture even for NBFCs (Non-Banking Financial Corporations). more
May 31
Please note any default in payment of EMI would have an adverse impact on your CIBIL score as you have rightly mentioned. Sh. Swamy ombudsman route is the ideal route and and a process for escalating the matter - banks have ombudsman. more
May 31
Considering the Other remedies open i.e. civil, criminal, & other - the consumer Forum (Complaint) is much easy on all counts i.e. time, money and efforts etc. Once again advisable to lodge the Complaint with Consumer forum. Should you require any help and assistance (In Mumbai, Thane - even in Maharashtra) we can assist. more
May 27
Uday Sir, please help me with my case. Evenif you guide me whom to contact, I appreciate it. LIC has eaten up my maturity amount of Rs 1,00,000. I filled all forms twice, submitted the necessary documents. I even went to the police station & consumer forum to no avail. Police has written my complaint but nothing has been done. Consumer Court at Kalina refused to allow me to file a complaint against LIC. My email address is creative_tina@yahoo.co.in I live in Mumbai. Thank you. more
Jun 05
