Your Trusted Partner in Nidhi
This Cancellation & Refund Policy outlines the terms governing cancellation of services and refund of payments for services offered by M/S VASUPRADA NIDHI LIMITED (hereinafter referred to as “Company”).
A customer may request cancellation of a loan application before final approval and disbursement of funds. Once the loan is approved and disbursed, cancellation shall not be permitted except as per the terms mentioned in the Loan Agreement.
Borrowers may choose to pre-close or foreclose the loan before the end of tenure, subject to applicable foreclosure charges, penalties, and interest adjustments as specified in the Loan Agreement.
In case of any excess payment made by the borrower due to technical error, duplicate transaction, or calculation discrepancy, the Company shall verify the claim and process the refund within a reasonable period of time.
Processing fees, documentation charges, and other administrative fees are generally non-refundable once the loan application has been processed. Any exception shall be at the sole discretion of the Company.
If a payment transaction fails but the amount is debited from the customer's bank account, the refund shall be processed as per banking timelines after reconciliation with the payment gateway or bank.
Refunds, if applicable, shall be credited only to the original mode of payment or to the registered bank account of the borrower, after proper verification.
Approved refunds shall generally be processed within 7–14 working days, subject to banking and payment gateway timelines.
The Company reserves the right to update or modify this Cancellation & Refund Policy at any time without prior notice. Changes shall be effective immediately upon posting.
For any cancellation or refund related request, customers may contact the Company through official communication channels along with transaction details and supporting documents.