Refund & Cancellation Policy

1. Loan Processing & Administrative Fees

• Any processing fees, documentation charges, or legal valuation fees collected during a loan application (Gold Loan, Property Loan, etc.) are strictly non-refundable once the application processing has commenced, regardless of whether the loan is finally sanctioned or rejected.
• If a member wishes to cancel a loan application before any processing or valuation has been initiated, a refund of the processing fee may be considered at the sole discretion of the management.

2. Excess EMI or Loan Overpayments

• In the event that a member accidentally pays an amount greater than their outstanding loan EMI or foreclosure amount, the excess amount will be refunded.
• The excess funds will be credited either to the member's core savings account with us or directly to their verified external bank account within 5 to 7 working days after reconciliation.

3. Premature Withdrawal of Deposits (FD/RD)

• Premature closure of any deposit is not permitted within the first 3 months from the date of deposit.
• If a member requests premature withdrawal after 3 months but before maturity, the interest payable will be subjected to a penalty deduction (usually 2% less than the applicable rate), as mandated by MCA guidelines for Nidhi companies. The revised principal and interest will be settled accordingly.

4. Failed Online Transactions

For members using our online portal or custom applications to pay EMIs or deposit installments:

• If a transaction fails but the amount is debited from your bank account, the payment gateway typically reverses the funds automatically within 3 to 5 working days.
• If the amount is received by FASTPAYING INDIA NIDHI LIMITED but not updated against your member ledger due to a technical glitch, we will manually reconcile and update your account upon receiving a payment proof (Transaction ID/UTR number).

5. How to Request a Refund or Report an Issue

If you believe you are entitled to a refund or need to report a double-deduction, please contact our support team immediately with your Member ID and relevant transaction details:

6. Right to Modify

FASTPAYING INDIA NIDHI LIMITED reserves the right to amend this Refund Policy at any time to comply with changes in Nidhi Rules or internal company policies. All approved refunds will be processed via direct bank transfer only; no cash refunds will be provided.