If you’re experiencing this problem with this brand or any other company, submit your complaint and we may feature it on Choice4Voice.com.
Submit your complaint →Consumer Saurabh Agarwal filed a serious complaint on Choice4Voice.com against Bajaj Finserv for a ₹33 lakh loan disbursed without consent, ₹55,000 in fake processing fees, and misrepresentation by sales staff. Learn full case details, legal actions possible, and how Choice4Voice.com helps consumers fight banking frauds.
Complaint Summary : Saurabh Agarwal vs Bajaj Finserv – ₹33 Lakh Unauthorized Loan & Fake Charges Complaint
| Field | Details |
|---|---|
| Complainant Name | Saurabh Agarwal |
| Email ID | sa*****@undefined |
| +9*****05 | |
| Complaint Type | Fake Promise / Misrepresentation |
| Company / Brand | Bajaj Finserv |
| Product / Service | Overdraft Flexi Loan |
| Service / Complaint No. | SR146447123 |
| Date of Incident | 8 June 2025 |
| Issue Summary | Unauthorized ₹33 lakh loan credited, ₹55K deducted as processing fee, 5% foreclosure fee hidden, and complaint closed without resolution |
| Company’s Response | Ticket closed without resolution or proper understanding |
| Additional Comments | Bajaj Finserv sales executives using disappearing messages to erase proof of scam |
Detailed Complaint Report
Consumer Saurabh Agarwal has raised a serious complaint against Bajaj Finserv through Choice4Voice.com, alleging financial fraud, mis-selling, and unethical practices by the company’s sales team.
According to Saurabh, Bajaj Finserv representatives falsely claimed that their Overdraft Flexi Loan carried no hidden charges. However, shortly after, an amount of ₹33 lakh was credited into his account without his explicit consent. Immediately, ₹55,000 was deducted as a processing fee, and later a 5% foreclosure charge was revealed none of which had been disclosed earlier.
To make matters worse, the sales representative reportedly used disappearing messages on WhatsApp, deliberately erasing key conversations and proof of verbal commitments. When Saurabh raised an official ticket (SR146447123), Bajaj Finserv closed the complaint unilaterally without proper investigation or customer confirmation.
Saurabh describes this experience not as poor service, but as a deliberate scam and corporate malpractice aimed at misleading customers to achieve sales targets.
Legal Case Can Be Filed
Based on this incident, multiple legal cases can be filed under Indian law:
| Applicable Law / Act | Type of Case | Description |
|---|---|---|
| Consumer Protection Act, 2019 | Consumer Complaint | For mis-selling, false promises, and unfair trade practices |
| Indian Penal Code (IPC) – Section 420 | Cheating & Fraud | For unauthorized financial activity and misleading sales representation |
| Information Technology Act, 2000 | Cyber Fraud | For erasing digital proof using disappearing messages |
| RBI Fair Practices Code Violation | Banking Complaint | For non-disclosure of fees, mis-selling of financial products |
| Contract Act, 1872 | Breach of Contract | For disbursing funds without consumer consent |
Authorities Where Complaint Can Be Filed
- RBI Banking Ombudsman – For unauthorized loan disbursal and fraudulent processing fees.
- Consumer Forum (District / State Commission) – For unfair trade practices and financial loss.
- Cyber Crime Portal – For use of disappearing messages and digital manipulation.
- Economic Offences Wing (EOW) – For large-scale financial fraud.
- Ministry of Consumer Affairs (via CPGRAMS) – For escalation of unresolved grievances.
How Choice4Voice.com Can Help
At Choice4Voice.com, we specialize in assisting consumers like Saurabh Agarwal in bringing unethical corporate practices to light. Once a complaint is submitted, our team:
- Verifies the authenticity of the case.
- Publishes the verified report publicly on our website and LinkedIn.
- Tags official brand pages and relevant government authorities to amplify the issue.
- Guides consumers in filing official complaints with the RBI Ombudsman, Consumer Forum, or Cyber Crime Portal.
- Provides pre-drafted complaint templates to simplify the legal process.
Our goal is simple justice for consumers and accountability for corporations.
Pre-Drafted Complaint Templates
1. RBI Ombudsman Email Format
Subject: Unauthorized Loan Disbursal & Fake Processing Fee by Bajaj Finserv
To: crpc@rbi.org.in
Dear Sir/Madam,
I wish to report a case of unauthorized loan disbursal by Bajaj Finserv, where ₹33 lakh was credited to my account without consent, followed by ₹55,000 deducted as processing fees.
Despite raising complaint no. SR146447123, Bajaj Finserv closed it without resolution.
Kindly investigate and direct the company to refund the deducted amount and reverse the unauthorized transaction.
Sincerely,
[Your Full Name]
[Registered Mobile No.]
[Loan Account No.]
2. Consumer Forum Complaint Template
You can file a written complaint at your District Consumer Disputes Redressal Commission (DCDRC) with:
- Copy of transaction details
- Screenshot of messages
- Written complaint summary
- Any communication with Bajaj Finserv
Compensation can be claimed for both financial loss and mental harassment.
3. Cyber Crime Complaint Template
Visit https://cybercrime.gov.in
Category: Financial / Loan Fraud
Details: Mention that digital communication was deleted using “disappearing messages,” making the evidence tampered.
About Bajaj Finserv
Bajaj Finserv Limited, a leading Indian financial services company, offers loans, insurance, and investment products. It operates under RBI regulation but has faced repeated consumer complaints regarding hidden charges, pre-approved loan misrepresentation, and misleading digital offers.
Official Website: https://www.bajajfinserv.in
Customer Care Email: wecare@bajajfinserv.in
Author
Saurabh Agarwal is a responsible consumer who raised this issue after being misled by Bajaj Finserv’s representatives. He aims to raise awareness against financial mis-selling practices and motivate others to check loan documents carefully before approval.
Frequently Asked Questions (FAQ)
Q1. What is the complaint against Bajaj Finserv about?
A1. The complainant alleges that ₹33 lakh was credited without consent and ₹55,000 deducted as fake processing fees.
Q2. Can a financial company credit a loan without the consumer’s explicit approval?
A2. No. Under RBI regulations, any loan disbursal must have written consent and digital confirmation from the customer.
Q3. Is misrepresentation by sales staff punishable?
A3. Yes, under Section 420 of IPC for cheating and Consumer Protection Act, 2019.
Q4. How to recover money deducted as fake processing fees?
A4. File complaints with the RBI Ombudsman and Consumer Forum, and demand refund plus compensation.
Q5. What is the foreclosure fee mentioned?
A5. A hidden 5% charge revealed after the loan was processed undisclosed fees are a violation of fair banking practices.
Q6. What should I do if my complaint is closed without resolution?
A6. Escalate to the RBI Ombudsman or Consumer Forum with documented proof.
Q7. What is the maximum compensation a consumer can claim?
A7. Up to ₹20 lakh in District Forum, ₹1 crore in State Commission, and above ₹1 crore in National Commission.
Q8. Can I file a complaint if proof was deleted using disappearing messages?
A8. Yes. Digital deletion itself can be cited as evidence tampering under the IT Act.
Q9. How does Choice4Voice.com verify complaints?
A9. Through documentation, cross-verification, and complainant consent before publishing.
Q10. How long does the RBI Ombudsman take to respond?
A10. Usually within 30–45 days of filing.
Q11. What documents are needed for filing a consumer complaint?
A11. ID proof, transaction proof, chat screenshots, and written complaint summary.
Q12. Can I approach both RBI Ombudsman and Consumer Forum?
A12. Yes, they are independent mechanisms; you can pursue both.
Q13. What penalties can Bajaj Finserv face if found guilty?
A13. Refund of money, penalty for non-compliance, and directions to improve grievance handling.
Q14. How to track complaint status with RBI?
A14. Via the CMS Portal at https://cms.rbi.org.in.
Q15. What is a flexi loan?
A15. It allows flexible withdrawals and repayments but must be approved with explicit customer consent.
Q16. What does unauthorized disbursal mean?
A16. When funds are credited to a consumer account without their formal agreement.
Q17. Can I file FIR for such incidents?
A17. Yes. File at your nearest police station under Section 420 IPC for cheating.
Q18. Is Bajaj Finserv regulated by RBI?
A18. Yes, it operates as a Non-Banking Financial Company (NBFC) under RBI supervision.
Q19. What is the official grievance email of Bajaj Finserv?
A19. wecare@bajajfinserv.in
Q20. How does Choice4Voice.com protect consumer identity?
A20. By masking personal details like email and WhatsApp before publication.
✅ Published by Choice4Voice.com
A trusted consumer advocacy platform helping Indians raise their voice against corporate negligence, mis-selling, and unfair practices.
