1. Cancellation of Loan Application
Before Loan Approval: You can cancel your loan application at any time before the loan is approved. To do so, please contact our customer service team via email or phone.
Charges: There is a fees or penalties for cancelling your application before approval.
After Loan Approval but Before Disbursement: If your loan has been approved but the funds have not yet been disbursed to your account, you may cancel the loan request. Please notify us immediately.
No Fees: Cancellation after approval but before disbursement will not incur any charges.
Processing Time: It may take up to 3-5 business days to process the cancellation.
2. Cancellation After Loan Disbursement
Once the loan amount has been disbursed to your account, cancellation is no longer possible, as the funds have been released as per the agreed terms.
If you wish to repay the loan early or refinance, please refer to the prepayment terms outlined in your loan agreement.
3. Refunds
Refund Eligibility: Refunds are only applicable in cases where fees have been charged for services not rendered or if an error occurred during the loan application process.
Refund Process: If you are eligible for a refund, the amount will be credited back to your original payment method. Refunds will be processed within 7-10 business days after the request is approved.
Non-refundable Fees: Certain fees, such as application processing fees or administrative charges, may not be refundable, depending on the nature of the services already provided at the time of cancellation.
4. Refunds for Loan Processing Fees
Before Loan Approval: If you paid a processing fee but later decide to cancel your application before approval, you may be eligible for a refund of that fee, minus any applicable administrative charges.
After Loan Approval: Once the loan is approved, processing fees are non-refundable, as services have been rendered.
5. How to Request a Cancellation or Refund
To initiate a cancellation or refund request, please contact us via email at tapsfintech@gmail.com or call our customer support team at +91-9412347380.
Please provide your loan application number, the reason for cancellation, and any relevant details that will assist in processing your request.
6. Processing Time for Cancellations and Refunds
Cancellations: All cancellation requests will be processed within 3-5 business days. You will receive a confirmation email once your cancellation is successfully processed.
Refunds: Refunds will be processed within 7-10 business days after approval. Refunds will be made to the original payment method unless otherwise specified.
7. Non-refundable Fees
Fees that are non-refundable include, but are not limited to:
Late payment charges or penalty fees (if applicable)
Service fees for services already rendered, such as credit checks or document verification, when applicable.
Any costs associated with failed loan disbursements or loan cancellations once the funds have been released.
8. Loan Prepayment or Early Repayment
If you choose to repay your loan before the agreed term, please review the prepayment clause in your loan agreement for any potential charges or rebates.
Depending on your loan agreement, early repayment may result in a reduction or waiver of future interest payments.
9. Customer Support
If you have any questions or need assistance with your cancellation or refund request, please reach out to our customer support team at tapsfintech@gmail.com or call +91-9412347380.
Our team is available Monday to Friday, from 10:00 AM to 6:00 PM, to assist with your cancellation or refund inquiries.