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Thread: False commitments from Bajaj Finserv Lending EMI Card

  1. #1
    prateekbhattacharya is offline Junior Member
    Join Date
    Dec 2012
    Posts
    3

    Default False commitments from Bajaj Finserv Lending EMI Card

    I Prateek Bhattacharya (Cust ID : 4850629), would like to register and file an official complaint against Bajaj Finserv Lending for providing me with falsified documents and commitments, in regards to their EMI Card benefits,offers and charges.


    Please refer below for the details -

    Customer Name : Prateek Bhattacharya
    Registered mobile no. : +919748580345
    Card Number : 2030400003324300
    Card Limit in INR : Rs. 35000.00
    Vaild From : 07/12
    Valid Thru : 07/15
    Card Type : Gold
    Customer ID : 4850629
    Offered by : Mr. Devang Mody (Business Head, Sales finance and cross sell)


    The issue with Bajaj Finserv Lending and the associated correspondence is the fact, that they had provided me with false commitments (duly signed - in written and other formats), that a customer can use the issued and registered card for -


    "EMI Card empowers you to swipe and buy your favorite consumer durables at 0% finance and enjoy the experience of purchase with approvals in seconds and minimum documentation"


    The above statement which is excerpted from the EMI Card offer letter (signed by Mr. Devang Mody), clearly suggests that I (or a customer) can avail a 0% finance on "MY" chosen consumer durables from the merchants - who have tied up with BFL.


    But, when I tried to avail the same on 25th Dec'12 (Tuesday) at the Great Eastern Trading Company (Garia, Kolkata) for buying an Air Conditioner and a Washing Machine - the guy (who identified himself as an employee of BFL), told me that the benefits of the BFL EMI card can be availed (i.e. a 0% finance), on "their" chosen products - else, I need to pay an interest amount (rate unknown and not intimated) on any other consumer durables, I choose from.


    which means - I can get a 0% finance on products of Samsung & LG and not on any other "self" chosen brands, which was "Voltas" - in my case.


    He was also bold enough to say - that the company has never provided ME with a written statement that you can buy "your favorite consumer durables at 0% finance".
    (The excerpt of the original statement from the offer letter is already highlighted above for a reference)


    Provided the fact that I have some knowledge of the English Language, this is therefore a direct violation of the already issued and stated commitments from BFL.


    Please note : BFL DO NOT PROVIDE THE CUSTOMER WITH ANY DETAILS ABOUT "THEIR" CHOSEN BRANDS.

    Secondly - I had already paid a processing fee of Rs. 199 (upfront) at the time of EMI Card application via the "BFL Experia" Portal by using my Debit card for that purpose, following which - the card was issued to me.


    The BFL EMI Card also stated the fact, that no processing fee shall ever be levied on me but still they are again charging some Rs.500 rupees for using/swiping the card at the merchant/dealer outlet, to avail the services.


    I had also spoken with their Customer Care reps. from my registered mobile no. and they also failed to provide any resolution and the most funny else rubbish fact they stated was -


    "Sir, I'm extremely sorry for your inconvinience but the rate of interest is also not known by us and we are also not updated. Actually, it depends on the calculation that our rep. is doing for you at the merchant/dealer outlet"

    Please Note : BFL DO NOT PROVIDE THE CUSTOMER WITH THE APPLICABLE INTEREST RATES.


    The above scenario is a direct violation of the already stated, signed and issued commitments by Mr. Devang Mody (on behalf of BFL), who are making fool of the customers and are charging/extracting more money from them.


    I would hereby like to bring this in notice, to the Indian Consumer court and Penal Services to take immediate actions against these providers and financers.


    I have all the documents that can be used as a proof (both in hard and soft copy formats), for further investigation, both by electronic and/or physical media.

  2. #2
    Bajaj Finserv Lending is offline Senior Member
    Join Date
    Dec 2011
    Posts
    708

    Default

    Dear Prateek,

    Thank you for sharing your EMI card Number.

    We have already initiated the process of resolution of your query. You shall hear from us in the next 48 Working hours.

    During this time, should you wish to contact us, please write to us on wecare@bajajfinserv.in mentioning your Loan Account Number in the subject.

    With regards,

    weCare
    Bajaj Finserv Lending

  3. #3
    prateekbhattacharya is offline Junior Member
    Join Date
    Dec 2012
    Posts
    3

    Default

    I haven't heard from you at all, till date...!!!
    It has been a couple of weeks now and I neither have a resolution nor some new commitments.

    Hope you will get back to me....

  4. #4
    Bajaj Finserv Lending is offline Senior Member
    Join Date
    Dec 2011
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    708

    Default

    Dear Prateek,

    We apologize for the delay in our response. We tried calling you on 9748580345, however the call was disconnected during conversation post which we were unable to connect with you.

    We would like to inform you that this EMI card enables you to purchase multiple consumer durables (to the extent of your credit limit) at 0% interest, And the choice of products available at dealership varies. As the brand of your choice was not availaible at the particular dealership you were unable to purchase the same.


    Further, there is a loan processing fee that varies from product to product. This fee will be intimated to you at the time of processing your consumer durable loan.
    We also would like to inform you that we do not charge any interest on the loan amount for consumer durable product, if interest component was charged, you shall be informed at the time of loan processing and will reflect in your loan account statement.

    With Regards,

    weCare,
    Bajaj Finserv Lending

  5. #5
    prateekbhattacharya is offline Junior Member
    Join Date
    Dec 2012
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    3

    Default

    Hi,

    "And the choice of products available at dealership varies. As the brand of your choice was not availaible at the particular dealership you were unable to purchase the same"

    1. Please note : My chosen brand for the Air Conditioner was "Voltas" and the model "was available" in the dealership (
    The Great Eastern Trading Company at Garia, Kolkata)

    2. Also, why was this excerpted statement not intimated in my EMI Card offer letter ?

    "We also would like to inform you that we do not charge any [COLOR=#009900 !important]interest on the loan[/COLOR] amount for consumer durable product, if interest component was charged, you shall be informed at the time of loan processing and will reflect in your loan [COLOR=#009900 !important]account statement[/COLOR]"

    1. Please Note : An interest component "was charged" and the rate of interest was "never" intimated to me.

    2.
    Also, why was this excerpted statement not intimated in my EMI Card offer letter ?

  6. #6
    Bajaj Finserv Lending is offline Senior Member
    Join Date
    Dec 2011
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    708

    Default

    Dear Prateek,

    We have forwarded your query to our concerned department. we will revert to you shortly.

    With regards,

    weCare,
    Bajaj Finserv Lending

  7. #7
    Bajaj Finserv Lending is offline Senior Member
    Join Date
    Dec 2011
    Posts
    708

    Default

    Dear Prateek,

    With reference to your query and discussion with our personnel we have once again explained the terms and conditions of EMI card.

    Your specific question on 0 % interest on Voltas A/C has also been addressed. We do accept your feedback on reemphasising with our front-line staff to answer specific queries as was in your case.
    The interest rate varies from product / manufacturer / scheme as would be the case.

    With Regards,

    weCare,
    Bajaj Finserv Lending

  8. #8
    Kuntal Guest

    Default EMI card inactive

    My user ID is: 5110756
    EMI Card no: 2030400104255841

    I have been BF Durable loan customer for last 2 years. Purchased many products and paying all EMI on time, not a single default so far.

    I was offer EMI card no mentioned above, i used the card to purchase few products. But suddenly it came to a shocking notice that my EMI card is inactive, may i know why?

    What is the issue that made the EMI card inactive?

    I called your customer care, i was informed that due to bad cibil score it is inactive.

    But i already offered an EMI card and even not a single default, then how my CIBIL score plan a role here?

    I truly hope you will activate my card and allow me to use it again.

    Thank you.

  9. #9
    Bajaj Finserv Lending is offline Senior Member
    Join Date
    Dec 2011
    Posts
    708

    Default

    Dear Kuntal,

    Thank you for sharing your EMI card Number.

    We have already initiated the process of resolution of your query. You shall hear from us in the next 48 Working hours.

    During this time, should you wish to contact us, please write to us on wecare@bajajfinserv.in mentioning your EMI card Number in the subject.

    With regards,

    weCare
    Bajaj Finserv Lending

  10. #10
    Bajaj Finserv Lending is offline Senior Member
    Join Date
    Dec 2011
    Posts
    708

    Default

    Dear Kuntal,


    With reference to your post and our discussion we would like to inform you that your EMI card has been blocked inline with our credit policy.




    With regards,


    weCare
    Bajaj Finserv Lending

  11. #11
    Unregistered Guest

    Default Fraud Bajaj

    I would like to bring into your kind notice about the harassment I am facing from Bajaj Finserv Lending. I purchased LG Refrigerator and LG Microven from Khoshla Electronics,Garia, bill amount Rs. 22500 in December 2011. Dealer told me that I have to pay down payment of Rs.7500 and rest amount Rs 15000 through EMI of Rs 1875 per month for 8 months. I gave my documents and Canceled Check. After I got a mesasge from Bajaj that your loan has been approved and about my installments. But later I recieved a message asking to pay a higer amount as EMI. I tried to contact the dealer and was suggested to stop ECS payment. Then I recieved a call from Bajaj and was informed that there is a insurance active on my account about which I dont have any idea. I denied to pay for the insurance and agreed to pay the amount of Rs 1875 per month via cash. I was confirmed that all I have to pay is Rs15000 total. I have completed all the payments and I have all the reciepts. But now I am recieving calls from Bajaj saying I have a due amount of Rs 12000. Now this is totally harassment. I would request you people to please take some action against the same.
    Loan Account No.: 4100CD00226527 / 4100CD00226532

    Thanks
    Debasish Kar
    9903477119

  12. #12
    MOHD ELIYAS KHAN Guest

    Default Emi card

    Sir Can i buy iphone through my emi catd at 0 % interest.. and if yes then what will be the loan duration

  13. #13
    Bajaj Finserv Lending is offline Senior Member
    Join Date
    Dec 2011
    Posts
    708

    Default

    Dear Eliyas,

    Please write to us at wecare@bajajfinserv.in, or call us on 1800 209 5152 or visit our website Easy Personal Loan, Home Loan, Two Wheeler Loan in India - Bajaj Finserv Lending

    With regards,


    weCare
    Bajaj Finserv Lending

  14. #14
    Unregistered Guest

    Default Online purchase

    Hi. I am Manikandan S
    Can we use bajaj finserv emi card to purchase product through online?

  15. #15
    Unregistered Guest

    Talking Bajaj Finance Card

    Hi,

    This is Nabonita.

    I would just like to know if I can swipe my card and buy anything. I have already bought 3 items with this card, unfortunately, I had to pay 40% of the product value upfront to use the card.

    I do not understand that part when you guys say that I can just swipe the card and buy things. Just wanted to know when were you guys lying, then or later.

    Thanks in advance

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