I was called on by Bajajfinsv representative and offered OD loan 10 lks with 16% ROI & 2% processing fees was what I was told & I was readily happy to take the loan but when I read reviews I enquired in Detail and got the following facts
LOAN AMOUNT:- 1000000/-
R.O.I:- 16%(monthly on Used amount)
Processing Fee:- 2%+GST= 20000+3800=23800
LOAN INSURANCE:-2%+GST=20000+3800=23800
FFR:- 5500/-
FRANKING CHARGE:-0.2%=2000
DOCUMENTS CHARGE:-1700
AMC 1% per year for 2 yrs= 20000
Total other charges=75000 .So now Loan & Interest kept aside u pay 7.5% as other charges . I was told only 2% charges
So I declined the loan, thanks to friends who have written about their experiences and alerted me.