I had a FD with Bajaj finance for which I had a physical FD. on which the rate of interest was 8.3% . When I attempted to renew on their online app of Bajaj Finserv, the rate of interest displayed was 8.2% and the maturity amount was lower.
i compalined to the call center. they only made promises but did no action. on maturity the amount paid was still lower then even the amount displayed on their app.
i have been complaining but the money has not been paid even after the maturity.
NBFCs are totally reckless and just don’t care. RBI is right that they should follow all the restrictions and controls applicable to banks especially the big NBFCs. I shrudded to think if they just stop paying on maturity, what will the investors do? do you wonder whether Bajaj Finance is the next Deewan housing Finance? Atleast I will not put any FD in Bajaj Finance now.
