Change in policy during the loan was pending what can I do
13-Jul-2023 (In Banking / Finance Law)
Hi, In Feb 2016, I had applied for personal loan of Rs. 5 Lac. At the time of loan approval, they mentioned that, There won't be any foreclosure charges for early foreclosure of the loan and it can be done after paying first EMI. I have the mail from Bajaj regarding same in which it is mentioned that foreclosure charges is 0% . Now I want to close the personal loan by paying outstanding amount,I saw that they are charging 4.6 % additionally as Foreclosure charges.When I queried customer care about the same, they say their policy has changed from 1st Jun 2016 What Should I do?
Hi
Don't agree to it, what is in your agreement is final, you can file a petition before the consumer court for compensation, mental agony and unfair trade practices. If RBI has not changed any rate of interest for all NBFC, U can go to consumer and get your redressal.
Regards,
Pratap, Adv
Don't agree to it, what is in your agreement is final, you can file a petition before the consumer court for compensation, mental agony and unfair trade practices. If RBI has not changed any rate of interest for all NBFC, U can go to consumer and get your redressal.
Regards,
Pratap, Adv
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