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Bajaj Finserv / No response on ECS bounce which is effecting my bank statement

1 India Review updated:
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I have purchased a Samsung AC worth Rs. 17, 000 from TMC Begumpet on 30 March'08 through Bajaj Finance interest free scheme. I submitted all the necessary documents which were required by Bajaj Finance people and I have also signed the mandate for monthly ECS for my CITIBank Account.

The 1st installment was supposed to be due in May but when the ECS came to my account it got bounced back saying "Mandate is not submitted". I tried calling finance company branch for the same but I did not get any proper response from them. June was the second month when the ECS got bounced back for the same reason. This is affecting in my bank Statement where in every month ECS bounce is reflecting. I have to apply for some other loan but this bounce is effecting my creditability without any fault of mine.

Every time I am calling the finance company some or the other person takes the call and will say we will revert back in 10 mins but they never came back. I even tried escalating this to their senior people through email but still no response and nothing is being done from their side This kind of service is not at all expected from an organization like Bajaj Finance.

I would really appreciate if you can help me in this and resolve this for me so that next month the same thing does not repeat and if i could also get a letter clearly stating the reason for ECS bounce which I can use as a proof for my future loan applications.

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  • Sy
      15th of Jul, 2008
    0 Votes

    The Director - Company affairs

    Sir, I have purchased refrigerator from vasanth and co chennai on 13/11/2007. The total cost was Rs15400/-

    I was asked to pay initial payment of Rs.5486/- and balance in EMI 8 months. Rs.1284/- each month. I paid the cash as initial payment and got the bill from the vasanth and co stating that the final balance to be paid is Rs.9914/-.

    But why being this after completion of my instalment, in july 2008, the statement is still showing that Rs.5136/- not received. I paid this before availing this loan that too Rs.5436/- including processing fee they said, only after receiving my intitial payment the loan process was taken, then why this is not showing in your statement of account. Please ensure that their must not be any deduction next month they have also collected 4 cheques extra from my side, kindly return back all the documents pertaining to this to the address mentioned in the invoice.

    Thanks and regards

    Syed Arifullah
    Proposal no : 180318

  • Su
      12th of Nov, 2008
    0 Votes

    Dear Sir,

    Please Send us chennai office phone no, in erode branch i have loan for my bike.
    For this payment they are not receiving the local chque for it.

    For cash payment they have fixed the timing between 1-4.
    In that hours iwill be busy in office work. so please make some other methods like fund transfer directly to your account or accept the local chque.
    Make some arrangements to better way to pay loan for my convinence.

    Thank you

  • Ka
      23rd of Jan, 2012
    0 Votes

    Yeah I do agree.. This bajaj finance guys never responds properly and when you call their customer care and ask any question.. immediately they will disconnect the call..!
    Is this the support we use to get from them.
    I am very much disappointed..


  • Ni
      23rd of Oct, 2018
    0 Votes
    bajaj finserve - Loan Closure NOC

    I had a loan for Rs.100000 from your reputed firm applied few months back. on 10th may 2017 I submitted the full amount on behalf of my account closure. My registered mobile no. 9999941163. Kindly provide me the NOC for the same.
    Payment reciept attached herewith.


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