Is there anyway I can file a legal case against Bajaj Finance for 31% Interest rate ?

[User_1704b4a1]

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User_1704b4a1
PARTICIPANT
March 17, 2025 at 4:33 pm

I applied and the personal loan was passed, at that moment I didn’t thought much as it was an emergency. so I took a loan of 3 Lakhs from Bajaj.

But now even though I haven’t missed any payments I think it’s too high. I tried transferring this loan to another bank, but wasn’t possible as no bank is accepting the bank transfer saying my salary is too low.

I need your advise in learning the alternatives for this. Any help is appreciated 🙏

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[Coolking4544]

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Coolking4544
PARTICIPANT
March 17, 2025 at 4:38 pm

Did you not read the terms and conditions?

It’s how lending apps and NBFCs work. No bank would be willing to give you the loan if your credit profile isn’t strong enough and that’s where Bajaj stepped in and took advantage of it with high interest. Pay more than the EMI due and end the loan as quick as possible otherwise you’ll end up paying quite a fair bit of interest.

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[User_1704b4a1]

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User_1704b4a1
OP
March 17, 2025 at 4:41 pm

I have a very good cibil score. I took the loan for an immediate case and Bajaj made it approved within 2 days.

I still have good cibil, but the problem is I am paying all my salary as due. I have a very small salary and there is a bike loan and some credit card dues. And that’s why no bank is accepting my request to Bank Transfer

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[Smartshailesh3822]

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Smartshailesh3822
PARTICIPANT
March 17, 2025 at 5:13 pm

Take help from someone to clear this loan, then after a few months get a personal loan and clear that.

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[Brightsanjay9083]

B

Brightsanjay9083
PARTICIPANT
March 17, 2025 at 7:36 pm

Unfortunately, no

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