BAJAJ FINANCE LIMITED BAJAJ FINSERV - Wrong Statement for loan availed and miserable service.
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Complaint by: on May 28, 2012, 6:27 pm in Loans All

The most obvious and rudimentary grievance against this company is that they do not have a proper channel for redressal of a complaint against the company. For a Lending institution whose elementary moto should be transparency in financial dealings, it is imperative for it to have a proper grievance redressal system to address the problems of a consumer. The only grievance redressal system available with Bajaj Finance Limited (Bajaj Finserv) is an Automated Voice Recorder which tells about the status of a loan account. There is no manual system available to respond to the queries of a consumer, hence the available remedy system is virtually toothless in addressing the complaints of a consumer, and needless to say is rather a frustrating experience .

I had purchased a Split AC from Reliance Digital at Bhubaneswar, under a Finance Scheme from Bajaj Finserv/Lending. An amount of Rs.36,000/- was the Loan Amount to be paid back in 12 EMIs of Rs.3,000 each. However I have received a wel-come letter from Bajaj Finserve which states that the Loan amount is Rs.71,970 to be paid back in 24 EMIs of Rs.5,998 each. I have no clue as to how the Loan amount of Rs.71, 970/- was arrived at and how the tenure went up from 12 months to 24 months. By indulging in such mis-represented and fraudulent activities the company has exploited the fiduciary relationship which I had entered with the company trusting it to be bonafide. It has resorted to unfair trade practice in so far as that it has falsely represented, that the standard, quality and grade of services shall be as per best industrial practice. I have been made to suffer immense mental harassment, which is solely attributable to the delinquencies of the Company. The injury and loss has directly flown from your negligence of the Company and has effected my legally protected interest, thus it pertinently attracts Section 14(1)(d) of the Consumer Protection Act, 1986 and an award of compensation is sine qua non.

Contact (Mobile)-********03

Complainant's Goal: Clarification for the escalated loan amount and EMI and a proper Redressal Syst
Complaint Location: IndiaOrissaKhordha
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4.
Wed, 26 Jun 2013  Rajendra Gupta

Please find my loan account no as said-
LOAN ACCOUNT - 4000CD00283114

3.
Wed, 26 Jun 2013  Rajendra Gupta

I had purchased Ac from BAJAJ Electronics and they had converted into installments of 2690. I paid all the EMI through cash as Customer care told me there is some problem with their ESC. Last EMP they said that there are late charges which I agree after lot of discussions to pay by cash to their collection agent.

I have paid the money including the said late charges.. last amount was paid by me was 4200 (2690 EMI + 1500 late payment charges as discussed by one of your executives 2 months back) I had shared my receipt no with customer care last month. I don’t have receipt no now as I disposed it as though the things are clear and expecting NOC from them.

Now they are again asking for more money stating they did not receive that payment and not able to track that as well. Has many escalations – Grievance SR number – SRN00146044, SRN00160168, SRN00163872, SRN00163878…

But still they are forcing me to pay thrice the amount was due.

Please help me get this sorted.

2.
Mon, 04 Jun 2012 - Business Reply from - Bajaj Finserv Lending (BAJAJ FINANCE LIMITED, BAJAJ FINSERV)

Dear Customer,

At the outset, please accept our apologies for the inconvenience caused.

To help us expedite the process of resolution, could you please share your Loan Account Number with us?

With regards,

weCare

Bajaj Finserv Lending

1.
Tue, 29 May 2012 - Business Reply from - Rdrl India (BAJAJ FINANCE LIMITED, BAJAJ FINSERV)

Dear Sir,

We sincerely apologize for the inconvenience. We will surely look into your issue and resolve it as soon as possible. We have received your contact details, our concerned representative will be getting in touch with you soon.

We want to assure you that we are committed to solving your problem and resolve it to your satisfaction.

Warm Regards,
Reliance Digital