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Thread: Bajaj finance consumer durable loan: EMI issue

  1. #1
    Join Date
    Mar 2012

    Default Bajaj finance consumer durable loan: EMI issue


    I am Satish.M, I have availed a Consumer durable loan from Bajaj finance for purchasing LCD TV.
    The loan number is: 4000CD00124302 dated 19/Feb/2011. The TV purchased at SWAN SONY Appliances PVT Ltd. Nizampet road, Hyderabad. Total cost of the TV is Rs.26500/-. While purchase I have paid Rs.2000/- down payment using my credit card. This detail has been mentioned on the purchase receipt.

    According to the calculation provided to me at the time of purchase is Rs.1442 X 17 months.

    1442 X 17 = 24514 + 2000 = 26514 which is equal to the total cost of the TV Rs26500/-
    I have given approval for ECS to deduct EMI.

    However, Rs.1559/- being deducted from my account instead of Rs.1442/-

    I have complained to the executive how has done the loan documentation; I have contacted his team leader. Nothing worked. Then I have contacted ‘Bajaj Customer care’ at They have provided me a complaint number. I have followed up with that number for moths, no use. Initially they have asked me to provide scan documents of TV receipt after some time I have provided the receipts as well. From then there is no response.

    Later I took this to Grievance Redressal Team at they have responded saying within 7-10 days we will resolve this. There is no response for 12 days. Then I have followed up once again there is no response. Now once again after a week I am writing this.

    I am vexed with Bajaj Finance. There is clear discrepancy. But I don’t understand why there is no action from their end.
    Kindly help me in getting my additional deducted EMI paid back to me or adjusted in upcoming EMIs.
    Here with I am providing supporting documents like ‘TV receipt, credit card statement (using which I have paid my down payment) and emails that I have followed up with Bajaj finance.

    Please plz help me in resolving this issue.

    My contact details are:
    Satish Maradani
    Mobile: 9177333111

  2. #2


    Dear Sir,

    I have availed a Two Wheeler Loan from Bajaj Finance Ltd amount of Rs.34032/- (Including Financial Charges) on 24 EMI amounting of Rs. 1418/- & In the Month of June 2011 I have paid Rs. 4254/- Agt My Full & final Settlement & Got the Full & Final Settlement Letter alongwith Valid Receipt of BAFL. Full & Final Settlement Letter has been singed by Mr.Parvinder Mobile No. 9990394568 authorised representative. But I shocked When I recd a Legal Notice from BAFL regarding that Payment & I have attand this in Civil court on dated 27.12.11 & Submitted All document to Mr. Parvinder & After One Month I recd another Legal Notice Through BAFL. In This Time I visited Again on dated 27.01.12 in Civil court & Clear this Matter. In this Time Mr. Parvinder Assured Me that You get NOC from Our department with in a Week But whenever i callMr.Parvinder He always says that Matter is on Process & Clear This Weak But Today I have Heartly Shocked Whenever I Saw another Legal Notice from BAFL regarding outstanding payment & in this time I callto Mr. Parvinder on his Mobile No. & I got replied from Mr. Parvinder If you want to get Your NOC you can file a case agt BAFL. We cannot provide this without payment.
    So I request you to please solve this matter ASAP & take a strict action agt BAFL how they mently harsement of their customers. After that if this case not solve with in a weak then I have helpless to put this case in Media.

    Rajeev Kalra]

  3. #3
    Join Date
    Mar 2012


    Dear sir,

    Kindly review and respond to my issue.

    Many thanks,

  4. #4
    Join Date
    Mar 2012


    BEWARE : Be Careful when signing the ECS form as they will fool you to [COLOR=#009900 !important]fill in[/COLOR] a open ECS form for the value of the product you are getting financed with them. So if you are buying One Lakh worth of products then they will make you fill in a form where they can draw any amount upto 1 lakh from your account every month till 2025. When we ask them why, they will say that is needed. They should actually get a form signed with [COLOR=#009900 !important]the maximum[/COLOR] amount as EMI amount and then the ending date as your emi ending date. If you are still troubled and having problems send emails to these guys in their company and they will take it up quickly. Rajeev Jain is the CEO of the company and others are their top team. I had issues with these guys and took it up with these guys and got it resolved.
    Ashish Sapra <>,
    Devang Mody <>,
    Prateek Agarwal <>,

  5. #5
    Unregistered Guest

    Default Frustration in Bajaj Consumer Durable Loan


    To Whomsoever It May Concern:

    This is regarding Loan Account Number: 4040CD00247831.
    I have cleared my loan today, I tried to reach on 1800 2094151 for details to know about the same but I am not able to speak to customer care which is very frustrating and very irresponsible. I want to know the details and I want to have my clearance certificate for the above mentioned Loan Account Number at the earliest.

    Prem Paul

  6. #6
    Join Date
    Mar 2012


    Thank you Mithsi.. My issue has been resolved. Thanks a lot for the contacts...

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