Buying stuff from Bajaj finserv on EMI? Think twice.

S

swatkats

Keymaster
I was going through this thread on reddit where a user shared his concern.

Initially i thought it was some random complaint until I realised the shady things Bajaj Finserv do for mobiles bought under EMI.

They install apps and lock phones and take admin access?

I never heard of this anywhere except for locked phones requiring pin to use other operator sim!

They install some app like Bajaj credit suraksha and you cannot even remove that until its payed off and if payment is defaulted they lock the phone? Seriously?

Link : https://www.reddit.com/r/india/s/iQ2SgAKbbL
 
  • Like
Reactions: Kmkaks
This post discusses some finer points:
rkkaranrk

Thread 'Phone bought off olx locked after original owner did not pay the EMI'

kvn95ss said:
When it comes to Bajaj finance, usually the brunt is on the person who bought the device. For ex. I can order a device for someones behalf, even enter their address or whatever. They will get the product, but the EMI will be deducted from my bank account. Of course the pain starts when you miss a payment / return the product, cuz you get fines / no returns on processing fees.
Click to expand...
Indeed its a pain, A friend bought Samsung S22plus off olx which was financed and now the original buyer did not paid the EMI and now the phone is locked he is stuck with a expensive paper weight.
  • Like

Tldr: Avoid Bajaj Fin like the plague that they are
 
  • Like
Reactions: Kmkaks and swatkats
fun fact: device locking is a option given by the OEM itself. It is left to the financier if they wish to enable it.
Samsung is one of the companies which does it, as part of their Knox package.
 
  • Like
Reactions: Kmkaks
Is it MDM ? Will they have access to personal data like contacts ? MDM doesn't allow pics but their app seems to have all the usual permissions.

There are many shady loan apps that gather contact details and threaten to send obscene messages to all contacts if the loan amount is not paid on time.

I don't think Bajaj fin will resort to those tactics but it's still a risk.
 
Not only for electronics but for every form of finance, Bajaj should be avoided. Lots of shady TOS and fee, also the agents/employees never act in good faith and hide important caveats. Another one of India's rotten enterprise.

One of their representatives called me and informed my I have a special loan offer at low interest of 2.75% per month.lol. And I have a good credit score. Bl**dy old Zamindar moneylenders disguised as body corporate exploiting people.
 
1000055814.png
 
Top Bottom