Complaint against the OD account interest rate

Dear sir,

I Mr Amol Mohan Patil received OD loan offer from Bajaj Finserv on call. As we were in requirement of loan we proceed with the loan procedure. With the initial bargaining of your executive Mr Vishal he was offering us the interest rate of 14.50% but as that was too high we have asked him to decrease it to 13.25%. after a long discussion he has agreed on 13.50% . interest rate. Also he agreed to to minimise our deductions on processing fees as well as other deductibles.

After his assurance we agreed and ask him to to proceed with the loan procedure accordingly he he gave us to links to agree with. When v we open the link we found that the interest rate was still 14.5 0% and deductibles were not decreased. We enquire about the same with Mr Vishal and he has said that for temporary basis you agree on this terms and conditions and after 15 days I will send you another link in which the interest rate will be decreased as per your agreement that is 13.50%. also the deductibles will be given to us as a cashback in our account. as per his assurance we have agreed on the terms and conditions and we accepted the loan on 4th of March 2021. after which we have contacted him and say that when we will receive the reduced interest rate link is said that it will be sent to you on 20th March 2021.

After 20th of March we tried to reach him but he was not picking our call whenever we were calling on the number from which he has contacted us the another person Mr Bhuvan used to pick the call. whenever we have asked to give the call to Mr Vishal he was always unavailable and at the end he said no we cannot decrease your interest rate it is not possible now. Also he was not ready to speak with us on phone, his colleagues Mr Bhuvan told us that it is not possible to give us the cash back or the reduced interest rate.

Also we were not informed about the yearly maintenance before we agree on the terms and conditions. And the foreclosure charges was also not inform to us.

In short we are now having an account for which we are paying more interest than agreed and the deductions were high for which we have to pay the EMI as that was April part of the processing fee and we have not actually utilised any single money from the od account.

and and if we need to foreclose the account we need to pay come the money. so in this scenario it is like this we were in the requirement of money but we are paying the EMI and the foreclosure amount extra even if we have not utilise the money. And if we use the account we need to pay more interest.

My clear complaint is that we have not given the account interest rate as for the verbal agreement from Mr Vishal also we have not received any cashback for our deductions.

We request you to kindly look into this matter and give us the proper solution.

My OD account no. Is P27WPSP2393341
Registered no. Is 7977033490


Dear sir,

I Mr Amol Mohan Patil received OD loan offer from Bajaj Finserv on call. As we were in requirement of loan we proceed with the loan procedure. With the initial bargaining of your executive Mr Vishal he was offering us the interest rate of 14.50% but as that was too high we have asked him to decrease it to 13.25%. after a long discussion he has agreed on 13.25% . interest rate. Also he agreed to minimise our deductions on processing fees as well as other deductibles.

After his assurance we agreed and ask him to proceed with the loan procedure accordingly he gave us two links to agree with. When we open the link we found that the interest rate was still 14.50% and deductibles were not decreased. We enquired about the same with Mr Vishal and he said that for temporary basis you agree on this terms and conditions and after 15 days I will send you another link in which the interest rate will be decreased as per your agreement that is 13.25%. also the deductibles will be given to us as a cashback in our OD account. as per his assurance we have agreed on the terms and conditions and we accepted the loan on 4th of March 2021. after which we have contacted him and said that when we will receive the reduced interest rate link he said that it will be sent to you on 20th March 2021.

After 20th of March we tried to reach him but he was not picking our call whenever we were calling on the number from which he has contacted us the another person Mr Morya used to pick the call. whenever we have asked to give the call to Mr Vishal he was always unavailable and at the end he said no we cannot decrease your interest rate it is not possible now. Also he was not ready to speak with us on phone, his colleagues Mr Morya told us that it is not possible to give us the cash back or the reduced interest rate.

In short we are now having an Flexi loan account for which we are paying more interest than agreed and the deductions were high for which we have to pay the EMI as that was a part of the processing fee and we have not actually utilised any single money from the OD account.

And if we need to foreclose the account we need to pay 4% of our approved loan amount, so in this scenario it is like that we were in the requirement of money but we are paying the EMI and the foreclosure amount extra even if we have not utilise the money. And if we use the account we need to pay more interest.

My clear complaint is that we have not given the account as per the agreed interest rate as per the verbal agreement from Mr Vishal also we have not received any cashback for our deductions.

We request you to kindly look into this matter and give us the proper solution.

If the query is not resolved within minimum time, the query will be forwarded to consumer forum.

My OD account no. Is P27WPSP2393341
Registered mobile no. Is 7977033490
Concerned executives names
Mr. Vishal
Mr. Ram
Mr. Morya
The nos. From which we received calls are 7304452282 , 9004994038 and 9136882722
The recordings of the call are attached with the mail.

Regards
Amol Mohan Patil
Mob. 7977033490