Refund & Cancellation Policy

General Principles

Shrikrupa Bachatgat Nidhi Limited operates as a member-owned financial institution providing inter-member financial services. This Refund & Cancellation Policy outlines the terms and conditions governing refunds and cancellations of our services.

Membership Fees

Membership fees, once paid, are generally non-refundable. However, in exceptional circumstances such as:

• Rejection of membership application due to administrative errors on our part
• Duplicate payment of membership fees
• Technical errors resulting in multiple charges

Refunds will be processed within 15-30 business days after verification and approval. All refund requests must be submitted in writing with supporting documentation.

Deposit Products

For Fixed Deposits and Recurring Deposits:

• Premature closure of deposits is subject to terms and conditions specified at the time of deposit
• Interest rates applicable to premature closures will be as per the prevailing policy
• Processing fees, if any, will be deducted as per the terms of the deposit agreement
• All cancellations must be requested in writing with proper documentation

For Savings Accounts:

• Account closure requests must be submitted in writing
• All outstanding dues must be cleared before account closure
• Account closure will be processed within 7-10 business days

Loan Products

For all loan products:

• Processing fees, once paid, are non-refundable unless the loan application is rejected by us
• In case of loan rejection, processing fees will be refunded within 15-30 business days
• Prepayment of loans is subject to terms and conditions specified in the loan agreement
• Prepayment charges, if applicable, will be as per the loan agreement
• Loan cancellation requests must be submitted before disbursement

Service Charges

Service charges and fees collected for various services are generally non-refundable, except in cases of:

• Service not rendered due to our error or technical failure
• Duplicate charges due to system errors
• Services cancelled before execution due to our inability to provide the service

Refund Process

To request a refund:

1. Submit a written refund request with your membership number and transaction details
2. Provide supporting documentation (receipts, statements, etc.)
3. Our team will review your request within 5-7 business days
4. Approved refunds will be processed to the original payment method or bank account
5. Refunds typically take 15-30 business days to reflect in your account

Dispute Resolution

If you have concerns about any refund or cancellation decision, you may:

• Submit a written appeal with additional documentation
• Request a review by our management team
• Contact us through our official communication channels

Contact Us

For refund and cancellation requests, please contact us through our official channels with all relevant details and documentation.