Overview
This Refund Policy explains how refunds are handled for the processing fee charged by Loan Financial. The standard processing fee is ₹899 — refundable in case an application is not approved or under conditions described below.
When refund is applicable
- Application not approved: If your loan application is not approved after verification, the processing fee (₹899) is fully refundable.
- Duplicate / accidental payment: If you paid twice in error and both payments can be verified, excess payment will be refunded after verification.
- Cancellation before disbursal: If you request cancellation and your application is not processed further, refund will be considered as per the status and verification.
When refund may not be applicable
- If the application is approved and disbursed, processing fee is not refundable (unless otherwise stated in the sanction letter).
- Fraudulent or misrepresented applications where funds were obtained by deception.
- If refund request is not supported by required proof (payments cannot be verified) within the timeframe below.
How refunds are processed
- Verification: After you submit a refund request (or when we determine eligibility), we verify the payment using payment provider records / UTR / transaction proof.
- Approval: On successful verification, refund is approved by our team.
- Execution: Refund is initiated to the original payment method (UPI / bank / PSP) used at the time of payment.
- Notification: We will notify you by email and/or SMS once refund is initiated and when it is completed.
Refund timeline
Once refund is approved by our team:
- Processing by us: 2–5 business days to initiate the refund after verification.
- Bank/PSP settlement: 3–10 business days (typical) depending on the payment provider and bank processing times.
- Total expected time from approval to reflected credit: up to 14 business days in usual cases.
How to request a refund
To request a refund, please follow these steps:
- Send an email to support@loanfinancial.in with subject Refund Request — [Application Ref or Mobile].
- Include your Application Reference (if available), Mobile Number, payment details (UTR / Transaction ID), payment date, and a screenshot or screenshot of the payment confirmation (if available).
- Our support team will acknowledge receipt and begin verification. We may contact you for additional information.
Required information for faster processing
- Application Reference ID (if you have)
- Payer Mobile Number (bank-registered)
- UTR / Transaction Reference Number
- Screenshot of payment confirmation / bank statement entry
- Preferred refund method details (if different from original)
Partial refunds and disputes
In rare cases (e.g., partial processing already completed by a third-party), we may issue a partial refund. If you dispute a refund decision, please raise a ticket at support@loanfinancial.in with all supporting documents; our grievance team will review and respond within 7 business days.
Security & privacy of refund data
All payment proofs and personal data submitted for refund verification are treated as confidential and processed in accordance with our Privacy Policy.
Contact & support details
For refunds and queries:
- Email: support@loanfinancial.in
- Phone: +91 12345 67890 (Mon–Sat 9:00 AM – 7:00 PM IST)
- Address: Loan Financial, Connaught Place, New Delhi — 110001
Exceptions & special cases
Some refund requests may require additional regulatory checks (for example verification with banks or due to anti-fraud checks). In such cases, processing time may be longer. We will keep you informed of progress.
Governing law
This Refund Policy is governed by the laws of India. Any disputes arising from refund claims shall be subject to the jurisdiction of courts in New Delhi.