1. Introduction & Overview

This Refund and Cancellation Policy outlines the rules, procedures, and terms governing transactions processed through Nofino Rural Finance Private Limited (hereafter "Nofino," "Company," "We," "Us," or "Our").

By utilising our website, mobile application, EMI collection portals, or offline financial services, you ("Customer," "Borrower," or "User") agree to be bound by the terms detailed in this document.

2. Scope of Financial Services Covered

This policy applies specifically to digital, online, payment gateway, banking, and cash transactions related to:

• Loan Application Processing Fees & Documentation Charges
• EMI (Equated Monthly Installment) Collections and Repayments
• Advisory, Facilitation, and Verification Services
• Prepayment, Foreclosure, and Part-Payment Processing

3. Cancellation Policy

A. Loan Application & Facilitation Services

• Cancellation Prior to Verification: A customer may request the cancellation of a loan application or service request at any time prior to the commencement of field verification, credit checks, or document evaluation.
• Cancellation Post-Verification/Processing: Once background checks, field verification, or third-party credit evaluation processes have commenced or completed, the application cannot be canceled for a refund of administrative fees.
• Cancellation Post-Disposal/Disbursement: Once loan funds or service disbursements have been approved and transferred to the customer's bank account or merchant destination, the application cannot be canceled. Early termination at this stage will be governed under loan closure/foreclosure terms.

B. Recurring EMI Mandates (NACH / Auto-Debit / UPI Autopay)

• Customers wishing to revoke or cancel an automated EMI collection mandate (such as e-NACH, ECS, or UPI Autopay) must submit a formal written request at least 7 working days prior to the scheduled debit date.
• Cancellation of a debit mandate does not absolve the customer of their debt obligation. Alternate manual payment methods must be arranged prior to the due date to prevent default penalties.

4. Refund Policy & Rules

Summary of Refund Eligibility

Detailed Refund Terms

1. Excess or Duplicate EMI Payments

If a customer is debited twice for the same EMI installment due to a technical error, payment gateway failure, or simultaneous manual and auto-debit payments:

• The excess amount will be verified against banking systems within 48 hours.
• The customer may choose either:
  1. A direct refund back to the original payment source account.
  2. An adjustment against the upcoming month’s EMI schedule or outstanding principal.

2. Failed Transactions

If money is debited from a customer’s bank account or digital wallet during an EMI payment or service fee transaction, but the payment status reflects as "Failed" or "Pending" on Nofino's portal:

• Such amounts are typically held by the payment gateway or issuing bank and will automatically reverse to the original account within 3 to 7 working days as per standard banking protocol (NPCI guidelines).
• If the amount is credited to Nofino's account, Nofino will initiate a direct refund within 3 working days of confirmation.

3. Administrative & Service Charges

Fees charged for credit evaluation, legal verification, field visits, stamp duty, or third-party background checks are non-refundable once the respective action has been performed, regardless of whether the loan or service is finalized.

5. Refund Claim Procedure

To request a refund for eligible transactions, please follow these steps:

1. Submit Request: Send an email to support@nofinofinance.com (or designated support channel) with the subject line: "Refund Request - [Transaction ID / Application No.]".
2. Provide Required Details:
   • Full Name of Customer
   • Registered Mobile Number & Email ID
   • Transaction Reference Number / UTR Number
   • Date and Amount of Transaction
   • Clear Bank Account Statement or Payment Receipt snippet showing the debit.
3. Verification: Our accounts team will review and verify the transaction details with the payment gateway and banking partners within 3 working days.
4. Disbursement: Upon approval, refunds will be credited exclusively back to the original source bank account or payment method used during the initial transaction. No cash refunds will be issued under any circumstances.

6. Grievance Redressal Mechanism

If your refund or cancellation query is not resolved within the specified timelines, you may escalate the issue to our Grievance Officer: