Loan with bajaj finance


Is there any provision to cancel the loan agreement after signing,and before disbursement of loan.?
 
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Law Student

You will have to get in touch with Bajaj Finance representatives, tell them that you want to cancel the loan but make sure to do so before the money has been disbursed in your account. If everything goes smoothly and the company representatives cooperate, they may at most charge you with some processing fees and cancel your loan.
 
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Loan agreement signed on 27/10/2016. Messaged not to sanction the loan amount until my further request for the same on 28/10/2016.they REPLIED AS OK. On 3/11/2016 disbursed loan 1169324 rupees. I taught with the representative for getting company bank account number for redirecting the loan amount, for this he took 2 months. On20/1/2017 I received the company bank account number. On 21/1/2017 I have transferred the loan amount with interest to the company via NEFT. Now the company has harassing me for the payment of processing and foreclosure charges, INSPITE OF MY REQUEST WELL BEFORE 7 DAYS OF LOAN DISBURSEMENT TO THE COMPANY NOT TO SANCTION THE LOAN.. I HAVE ALL THE PROOF OF COMMUNICATION. kindly help me in this regard. Thank you very much.
 
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Loan agreement signed on 27/10/2016. Messaged not to sanction the loan amount until my further request for the same on 28/10/2016.they REPLIED AS OK. On 3/11/2016 disbursed loan 1169324 rupees. I taught with the representative for getting company bank account number for redirecting the loan amount, for this he took 2 months. On20/1/2017 I received the company bank account number. On 21/1/2017 I have transferred the loan amount with interest to the company via NEFT. Now the company has harassing me for the payment of processing and foreclosure charges, INSPITE OF MY REQUEST WELL BEFORE 7 DAYS OF LOAN DISBURSEMENT TO THE COMPANY NOT TO SANCTION THE LOAN.. I HAVE ALL THE PROOF OF COMMUNICATION. kindly help me in this regard. Thank you very much.
 
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Law Student

That's unfortunately how I expected it to turn out. Bajaj Finance is definitely not reputed for the satisfaction of their customers, and in the current scenario they clearly seem to be pulling off some of their cheap swindlers' tricks. Please note, it's always advisable to take loans from nationalized (Govt.) banks, as I've had my share of experience with private companies providing loan and trust me they will always try to overcharge you. (loss of 1500K in my case.) At most, I can suggest you to file a complaint in the consumer court (make sure you have preserved all correspondence between the company and yourself.)
 
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Thank you very much for your kindness, I will approach consumer forum with all proof s.
 
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Thank you very much for your kindness, I will approach consumer forum with all proof s.
 
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