Clear guidelines on loan cancellation and refund procedures
Last updated: October 15, 2023
This Cancellation and Refund Policy outlines the circumstances under which loans may be cancelled and the procedures for refunds. Please read this policy carefully to understand your rights and obligations.
ClickMyLoan reserves all rights to change, amend, add, or cancel any or all of these rules at any time at its sole discretion without any prior notice.
While granting loans, every attempt is made to do proper assessment and scrutiny on a case-to-case basis. However, ClickMyLoan reserves the right to cancel loans under the following circumstances:
ClickMyLoan has all rights to cancel the sanction letter if it is found that the applicant has provided incorrect/false information and/or submitted faulty/fake/improper documents to mislead the company.
Consequences:
If ClickMyLoan discovers that the borrower has utilized the loan amount for a purpose that was not intended as per the loan application form, or if the end use of the loan is not confirmed by the borrower.
Consequences:
ClickMyLoan reserves the right to amend the terms of sanction, reduce the amount/period/interest rate, or cancel the sanction letter at any time before or after disbursement without assigning any reason.
The borrower will have no recourse against this decision of ClickMyLoan.
At the end of the repayment period, the entire outstanding balance becomes due and payable on the due date. Extension of repayment will be granted only in extraordinary circumstances such as natural calamities or disasters.
Our refund policy ensures fair treatment in cases of overpayment or transaction errors. Please review the following scenarios where refunds may apply:
If an excess amount is deposited in the loan account at the end of the repayment period and there is any credit balance in the loan account of the borrower, it will be refunded back on being brought to the notice of ClickMyLoan.
ClickMyLoan will not be responsible in the event of any failed transaction of crediting loan installment through debit card due to any reasons whatsoever.
If any repayment installment is wrongly credited to a different account other than the one intended, it will be appropriated to the relevant account after it is brought to the notice of ClickMyLoan.
Important Notes:
ClickMyLoan reserves all rights to change, amend, add, or cancel any or all of the above rules at any time at its sole discretion without any prior notice whatsoever.
If you have questions about our cancellation and refund policy or need help with a specific case, our customer support team is here to help.
