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Change in contractual terms

Complain ID : CCN019863   33  

Loans Complaints Complaint Date: June 8, 2016
  • State :  Karnataka
  • City :  Bangalore
  • Address: 1717, 6th Cross, Shivaramaiah Layout, HBR 3rd Block, Bangalore - 43
I recently took a personal loan from Bajaj finance. Ive been paying the EMIs on time and have paid 2 EMIs till date. While taking the loan and in the agreement, it is clearly mentioned that foreclosure of the loan will not have any charges. My primary criteria to select this company for the loan with the zero foreclosure charges option. But now, I get an email from Bajaj finance stating that they have changed their terms and conditions and the zero foreclosure charges are not applicable anymore and that I need to pay some charges while foreclosing. This is unfair business practice. How can they change the terms of a contracted agreement.

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