Refund and cancellation
Cancelling a loan, and how any refundable amount is returned.
Cancelling before disbursal
You may abandon an application or decline an offer at any point before acceptance, at no cost and with no effect on future applications.
Cancelling after disbursal
Within three days of disbursal you may exit at zero penalty, repaying the principal plus only the interest proportionate to the days used. Contact support to initiate it, and the closure is confirmed in writing.
Refunds
The ₹1 test credit used to verify your bank account name is reversed immediately. Any amount collected in error is refunded to the source account within seven working days of confirmation, with the reference shared with you.
Overpayment
If you repay more than the amount due, the excess is returned to your registered bank account. We do not hold credit balances against future loans.
Cancelling inside the cooling-off period
Every loan carries a cooling-off period during which you may exit by repaying the principal plus the proportionate interest for the days you actually used. The window is one day where the tenure is under seven days, and three days where it is seven days or more. Using it is not a default and is not reported as one.
What comes back to you
The processing fee of ₹500 and the 18% GST on it — ₹590 together — are refunded pro rata when you exit within the cooling-off window. The refund is calculated from the portion of the tenure you did not use and is returned to the same bank account the loan was disbursed to.
Closing early after the cooling-off period
You may repay in full on any day of the 30-day term. There are no foreclosure charges and no prepayment charges. Interest is charged only for the days the money was with you, so closing early costs less than closing on the due date.
How long does a refund take to reach me?
Refunds are initiated to the originating bank account. The time to appear in your statement depends on your bank and the payment rail used; we do not control that leg and will not quote a figure we cannot honour.
Can a loan be cancelled before it is disbursed?
Yes. Until you accept the Key Fact Statement and sign the agreement, nothing is owed and nothing is charged. If you stop at any earlier screen the application simply lapses.
متعلقہ صفحات
کاغذی کارروائی کے بغیر قرض
No documentation, disbursal to your own bank account, and every charge disclosed in your Key Fact Statement before you accept.