- Bank Name
- Bajaj Finance Ltd.
- Customer Care Number
- 8698010101
- Loss Amount
- 120000
- Ratings
- Opposite Party Address
- Bajaj Finance,
No 5/14/107, 2nd Floor,
RMR Palza,
MG Road,
Kothagudem
Bhadradri Kothagudem - 507101
I am filing this complaint against Bajaj Finance Ltd. due to misrepresentation and unauthorized processing of a personal loan by their field agent.
The loan agent visited my residence and interacted with my mother, stating that he would arrange a personal loan. He collected all required documents and proceeded to sanction a loan amount of ₹2,49,816. However, after deducting various fees and unauthorized insurance premiums (CPP Live and Niva Bupa), only ₹2,26,000 was disbursed to my account.
Despite not being informed of the actual interest rate or insurance deductions beforehand, the loan was sanctioned with an extremely high annual interest rate of 31% and an EMI of ₹9,817 for a tenure of 42 months.
The first EMI was successfully auto-debited, yet when we tried to foreclose the loan early, we were shocked to discover a foreclosure quote of ₹2,63,000, which exceeds even the original loan amount. The agent in question is now refusing to respond.
NIVA BUPA HEALTH PLUS: 113013235728
Premium: 3,199/-
CPP LIVE ASSIST: CS-VC837947J
Premium: 6,799/-
Customer ID: 153899822
Loan Account Number: B2C000127371283
Agreement Dated: 16/05/2025
Bonus Charges: 700/-
Agreement no. P7B6PGP29020524
Contact Number: 9550461103
Name: Samatha Boddu
Part Pre-Payment Charges: 4.72%
Full Pre-Payment Charges (Foreclosure charges): 4.72%
Penal Charges 36%
This is so unfair charges and unfair Interest rate
I can Pay Max 14% of interest or I`ll pre close without any charges now.
The loan agent visited my residence and interacted with my mother, stating that he would arrange a personal loan. He collected all required documents and proceeded to sanction a loan amount of ₹2,49,816. However, after deducting various fees and unauthorized insurance premiums (CPP Live and Niva Bupa), only ₹2,26,000 was disbursed to my account.
Despite not being informed of the actual interest rate or insurance deductions beforehand, the loan was sanctioned with an extremely high annual interest rate of 31% and an EMI of ₹9,817 for a tenure of 42 months.
The first EMI was successfully auto-debited, yet when we tried to foreclose the loan early, we were shocked to discover a foreclosure quote of ₹2,63,000, which exceeds even the original loan amount. The agent in question is now refusing to respond.
NIVA BUPA HEALTH PLUS: 113013235728
Premium: 3,199/-
CPP LIVE ASSIST: CS-VC837947J
Premium: 6,799/-
Customer ID: 153899822
Loan Account Number: B2C000127371283
Agreement Dated: 16/05/2025
Bonus Charges: 700/-
Agreement no. P7B6PGP29020524
Contact Number: 9550461103
Name: Samatha Boddu
Part Pre-Payment Charges: 4.72%
Full Pre-Payment Charges (Foreclosure charges): 4.72%
Penal Charges 36%
This is so unfair charges and unfair Interest rate
I can Pay Max 14% of interest or I`ll pre close without any charges now.
