BAJAJ FINANCE LIMITED BAJAJ FINSERV - bajaj finance loan against insurnce policy
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Complaint by: ameya on February 27, 2017, 4:35 pm in Banking and Finance

i am amey karambelkar,

my complain is regarding bajaj finance which is pune address:bajaj office shivaji road nr rly station,shivaji nagar pune.
i had got call form rahul despande (9029119169) on 5 jan 2017 saying he is working in bajaj finance in pune loan against insurance policy .
the loan amt was 360000 for which i had to remove policy of bharti axaa life insurance paying 30k in the name of the same company which i did after loan will get process in 30 days tht mean amt will get deposit on 30 jan 2017 as he said . then didnt responded again abt loan after tryinh him again and again he gave me his senior number.
He then trf the file to his senior called aaakash naik (8097469593) he then said me my loan amt has been approved but on that i have got commission of 170000 for the policy i have taken previous of 30k he asked me to pay 35k extra to get loan amt disbursed .and he made the poilcy in name of exide life insurance . from 1 feb till now i contcting this person he to is giving dates to dates . Nor proper response he is giving . both policy amt as been said by them to pay .
And all thing was done they went pressuring me that give reference then only loan amt can be given to me.
Nor this person are well responding me now even i can cancel the polcy now as they duration of cancelling the poilcy as went as within 15 days the policy shall b cancel for refund of money
this both person have blocked my 65k money which i had borrowed

i have long relation with bajaj finance my consume durable loan and other loan are going form this bank so i want urgent step should be taken by you soon as possible else i have to log police complain against the company and them.

the detail of the policy are as below
POLICY NO 5015243438
AMT 30000

POLICY NO:03482993
AMT : 35000


now day by day they not responding me
so i want my money to refunded soon as possible
else i have to loadge complain in consumer court and police station as i have all recording of this person in the name of bajaj finance

reply me soon as possoible

Complainant's Goal: refunde of policy money asap
Complaint Location: IndiaMaharashtraThane

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Recent Comments
1 month ago  M P singh

I have received one call as named Mr. Ajay & Mr. Sahil Malhotra who said they are calling from Bajaj finance and they offer to provide 10lcas loan on 0% interest against insurance of 1Lacs per year. I don't know why government is not taking any strict action on this type of fraud.

2 months ago  Murphy Stratton

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2 months ago  swapnil shah

dear Amey karambelkar,
i have read yours problem ... its very sad to see it . i also have got the same call from mumbai name of the persion is Mr. Patil (8655228150) saying the same process as what you had done. After yours review i am get cousious and alert so i will not do the futhere step of taking the polices from Bharti axa co. ltd.
i think its a very big scam so i think you should take a leagal action on such people because the person who already face the financel crunch and attracting such scheam some inocent people get cheated and fall in more truble .
for futher no more get cheated you should longe a complent on such people ..... we are with you

and i am really thankful for you to geting alert form such call where i already plan to make payment and ready to take policy ,

here i think the renowend company like BHARTI AXA and BAJAJ FINANCE are very good and well reputed company so the complany official , legal team shold take care of the brand name and reputation of the entity hope they will doing so ...

3 months ago  Sandeep Kumar

Worst company (Bajaj Group) ever seen in my lifetime. They Not running a company they running a scam of groups.

Tue, 07 Nov 2017  Smeeta

I'm too facing the same situation a person named Sunil Sharma from Bajaj finance called me and asked me to take a life insurance policy made me pay 25000 and promised to give a loan from Bajaj finance of RS.6lac. now he isn't answering the calls.
If Bajaj finance is not involved in this then they should seriously take action as people trust their name. If these agents are getting policies made by promising loans they are straight away cheating.
Smeeta Ranpise

Fri, 15 Sep 2017  adhithya

I have taken Policy and payed 50 k to Bharati AXA life insurance .
They have confirmed and committed me to process the 6L loan from Kotak Mahendra bank, once I taken Policy from Bharati.
Loan Amount: 6L
ROI: 2.5 K per month first 3 Years and if not able to pay then they will recover end of the policy on 10th Years
Policy terms: 10 Years
Yearly payment: 50 K
I will get the balance amount (Apart from 6L + 3 years Interest) End of the 10th years .
Below the contact person approached me:
Document collection and Process: 044-32534887 and 7358590192 ( Name Ė Ramya)
Document collection: 9790908391
Document Verification: 044-65446566
Amount collection via online: 9677671003
Kotak Mahendra bank verification: 044-32015177
Policy in charge : 8940282048 ( Arumugam)

First Ramya told loan amount will credit end of August after that she told end of September , I donít think this is correct information .
Finally Ramya told me Policy (50k)amount will be return within 90days (from date policy taken).

but now a days no one attending my call and there is response .
Please ensure and return my policy amount if you are not able to process the loan

Tue, 18 Apr 2017  Biranchi

Date : 18.4.17
Thanks all !!
Though the online complaints has been uploaded from long 2013 but, the Fraudulent is still going on ??
The fake agents started chasing me from April 1st week. But before hand over the documents I wanted to check it online & found all your experiences. Why a Company like Bajaj is not taking any strict action against them or Itís a dark side of the Company itself ???
The persons who contacted me are Akhil- 07503435165 & Kanika Sharma Ė 8285923644. I donít know whether they are official (IRDA approved) agents or Fakes.
Plz be Aware ...

Tue, 28 Feb 2017  Exide Life Insurance

Dear Valued Customer, we regret the inconvenience that has been caused to you. we have noted your policy details. Please share your contact detail at Our customer service team shall get in touch with you shortly.
Warm Regards,
Exide Life Insurance