Unwanted Credit card and and other traps. Review on Bajaj Finserv

I applied for their overdraft facility. I agree, they are very fast in their service, but only till they disburse.

First of all, they will tell you all good things about their facility and will never share the traps. Like in overdraft they told their is no foreclosure charges. But once I got the disbursement, they told unless you foreclose it completely, their are no foreclosure charges. Means, your loan account will be open till the end of the tenure, although the interest will be negligible, but in your CIBILL records it will show as a loan on your head till the end of the tenure. As such, you will never be able to switch to any other bank or institution with lower rate.

Secondly, the moment you kinda agree with them, they will be after you like ghosts. They will make one guy stand in front of your office all the time, without a prior call or appointment. His purpose is to just get scolded by you and collect the docs. They will also shoot so many auto generated mails to your official email address, you will be forced to close it. No matter you tell them not to send mail on office id.

Second, they have tie-up with one RBL bank. Soon after the disbursement they will send you credit card with already applied annual charges. Now if you don't want it, run after them or call them to get it closed or deactivated. And we all know how difficult is to get hold of these guys, once your loan is disbursed,

So guys be very careful while dealing with them. IMHO, Its better to stick to lot many conventional option.