Refund & Cancellation Policy
Understanding our refund and cancellation procedures
1. Overview
At KuberSathi, we strive to provide transparent and fair services to all our customers. This Refund and Cancellation Policy outlines the terms and conditions regarding cancellations, refunds, and associated fees for our loan facilitation services.
Please read this policy carefully before using our services. By submitting a loan application through our platform, you acknowledge and agree to these terms.
Important Note: KuberSathi is a loan facilitation platform. We connect you with lending partners (banks and NBFCs). Refund policies for processing fees and other charges are primarily governed by the respective lending partner's terms.
2. No Upfront Fees Policy
KuberSathi follows a strict No Upfront Fees policy:
- We do not charge any fees for loan application submission
- We do not collect any money before loan approval
- There are no registration or membership fees
- Credit score checks are free of charge
Beware of Fraud: If anyone asks you to pay money upfront claiming to be from KuberSathi, it is a scam. Please report such incidents immediately to our official channels. KuberSathi will never ask for advance payments.
3. Cancellation Policy
You may cancel your loan application at any stage before disbursement:
3.1 Before Approval
If you wish to cancel your application before it is approved by the lending partner:
- No charges will be applicable
- Your application will be withdrawn immediately
- No impact on your credit score
3.2 After Approval, Before Disbursement
If your loan has been approved but not yet disbursed:
- You can still cancel without any processing fee
- Any documents submitted will be retained as per our data retention policy
- Cancellation request must be submitted in writing
3.3 After Disbursement
Once the loan amount is disbursed to your account:
- The loan cannot be cancelled
- You may prepay or foreclose the loan as per lending partner's terms
- Prepayment charges may apply as specified in your loan agreement
4. Processing Fees
Processing fees are charged by lending partners upon loan disbursement:
- Typical Range: 1% to 3% of the loan amount
- When Deducted: Usually deducted from the disbursed amount or payable separately
- Non-Refundable: Processing fees are generally non-refundable once the loan is disbursed
The exact processing fee varies by loan product and lending partner. This will be clearly communicated before you accept the loan offer.
5. Refund Eligibility
Refunds may be applicable in the following scenarios:
5.1 Eligible for Refund
- Processing fee deducted but loan not disbursed due to lender's error
- Duplicate payment made by mistake
- Amount debited but application rejected
- Technical errors resulting in incorrect charges
5.2 Not Eligible for Refund
- Change of mind after loan disbursement
- Loan rejection due to incomplete or incorrect information provided by you
- Failure to meet eligibility criteria after application submission
- Cancellation after loan agreement execution
6. Refund Process
Follow these steps to request a refund:
Submit Request
Contact our support team via email or phone with your application ID, payment details, and reason for refund.
Verification
Our team will verify your request and coordinate with the lending partner if necessary.
Approval
Upon verification, you will receive confirmation of refund approval or rejection with reasons.
Refund Processing
Approved refunds will be processed to your original payment method within the specified timeline.
7. Refund Timeline
Once your refund is approved:
- Bank Account Transfers: 5-7 business days
- Credit/Debit Cards: 7-10 business days
- UPI Payments: 3-5 business days
- Net Banking: 5-7 business days
Please note that these are estimated timelines and actual processing may vary based on your bank or payment provider.
8. Exceptions & Special Cases
8.1 Force Majeure
In case of unforeseen circumstances such as natural disasters, government actions, or system failures, refund timelines may be extended. We will communicate any delays proactively.
8.2 Fraudulent Applications
No refunds will be issued for applications involving fraudulent documents, identity theft, or any illegal activity. Such cases will be reported to appropriate authorities.
8.3 Disputed Transactions
If you dispute a transaction with your bank before contacting us, the refund process may be delayed. We recommend reaching out to us first for faster resolution.
9. Dispute Resolution
If you are not satisfied with our refund decision:
- Submit a written appeal to our support team within 30 days
- Our grievance officer will review your case within 15 business days
- You will receive a final decision in writing
- If still unresolved, you may escalate to relevant consumer forums
10. Contact Us
For refund or cancellation requests, please contact us:
- Website: kubersathi.in
- Email: support@kubersathi.in
Please include your Application ID and relevant details for faster processing.
Frequently Asked Questions
Since KuberSathi doesn't charge any application fees, there's nothing to refund if your application is rejected. If any processing fee was deducted by the lender before rejection, you may be eligible for a refund from the lending partner.
Application cancellation is processed within 24-48 hours of receiving your request. You will receive a confirmation email once the cancellation is complete.
Cancelling your application before approval does not affect your credit score. However, if a hard inquiry was made by the lender, it may have a minor impact regardless of cancellation.
Need Assistance?
Our support team is available to help you with refunds and cancellations.
Contact Support