Change in Contractual terms - Bajaj Finance
Complain ID : CCN020203 47
Loans Complaints
Complaint Date: June 15, 2016
- State : Tamil Nadu
- City : Chennai
- Address: Flat 6 Latha Kunj 1/9 Saradambal Street
I have a personal loan from Bajaj Finance Ltd. under SALARIED LOAN PL 403SPL04877412 with the loan amount disbursed on 31-08-2014.
I’ve been paying the EMIs on time and have paid all EMIs correctly till June 02, 2016. Out of 60 EMIs , I have 39 EMIs left as per Loan term .. While taking the loan and in the agreement, it is clearly mentioned that foreclosure as well as part payment of the loan will not have any charges. My primary criteria to select this company for the loan with the zero foreclosureand zero part-payment charges option. But now, I got an SMS and confirmation email from Bajaj finance stating that they have changed their terms and conditions and the zero foreclosure a nd part payment charges are not applicable anymore and that I need to pay some charges while foreclosing or part paying. This is unfair business practice. How can they change the terms of a contracted agreement and please let me know what steps I can take to restore the original terms and conditions based on which I had taken the loan from then in 2014.
I’ve been paying the EMIs on time and have paid all EMIs correctly till June 02, 2016. Out of 60 EMIs , I have 39 EMIs left as per Loan term .. While taking the loan and in the agreement, it is clearly mentioned that foreclosure as well as part payment of the loan will not have any charges. My primary criteria to select this company for the loan with the zero foreclosureand zero part-payment charges option. But now, I got an SMS and confirmation email from Bajaj finance stating that they have changed their terms and conditions and the zero foreclosure a nd part payment charges are not applicable anymore and that I need to pay some charges while foreclosing or part paying. This is unfair business practice. How can they change the terms of a contracted agreement and please let me know what steps I can take to restore the original terms and conditions based on which I had taken the loan from then in 2014.
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