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Refund and Cancellation Policy

Understand LoanPao’s transparent refund and cancellation process for loan applications in India 2025.

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Overview of Refund and Cancellation Policy

Last updated: July 30, 2025. LoanPao’s refund and cancellation policy for India 2025 ensures a seamless process for cancelling loan applications and obtaining refunds for services like Home Loans, Personal Loans, and PMAY Loans. Compliant with RBI guidelines and the DPDP Act 2023, we prioritize transparency and customer satisfaction. For support, contact us at info@loanpao.in or +91-971-769-5334.

Key Benefits of Our Refund and Cancellation Policy

Easy Cancellation

Cancel pre-approval within 7 days at no cost via your account.

Quick Refunds

Processing fees refunded in 7–10 business days.

RBI-Compliant

Aligned with RBI guidelines for transparency.

Cancellation Policy

You can cancel your loan application for services like Personal Loans or Car Loans before disbursal:

  • Pre-approval: Cancel via your account within 7 days, no fees.
  • Post-approval: Notify within 3 days to avoid processing charges.
  • Post-disbursal: Subject to lender terms per RBI guidelines.

Submit cancellation requests through our contact page. Requests are processed within 48 hours with email confirmation.

Refund Policy

LoanPao’s refund policy covers fees for services like EMI Calculator usage:

  • Eligible: Processing fees refunded if cancelled pre-approval.
  • Non-refundable: Third-party fees (e.g., CIBIL checks, legal fees).
  • Timeline: Refunds processed in 7–10 business days to original payment method.

Review our Terms & Conditions for full details.

Refund and Cancellation Process

Follow these steps for a smooth refund or cancellation process:

LoanPao Refund and Cancellation Process
Step Details
Submit Request Email or call with application ID within 7 days (pre-approval).
Verification Eligibility and fees verified in 48 hours.
Processing Completed in 7–10 business days.

Track your request via our application portal.

Track Status

Eligibility for Refunds

Refunds are subject to the following criteria:

  • Stage: Full refunds for pre-approval cancellations.
  • Fee Type: Only LoanPao processing fees are refundable.
  • Documentation: Submit proof via contact page.

For PMAY Loans, specific lender terms may apply.

Data Protection

We comply with the DPDP Act 2023 to ensure your data security:

  • Data Deletion: Removed within 48 hours post-cancellation.
  • Security: SSL/TLS encryption for all transactions.
  • Rights: Request data access via info@loanpao.in.

Learn more in our Privacy Policy.

Exceptions to Refunds

Key limitations include:

  • Post-disbursal: Prepayment penalties may apply per RBI guidelines.
  • Third-party Fees: Non-refunded costs (e.g., credit checks).
  • Fraud: No refunds for applications flagged as fraudulent.

Explore our Loan Products for more options.

Your Responsibilities

Ensure a smooth process by:

  • Providing accurate application details.
  • Submitting requests within specified timelines.
  • Contacting us via contact page for support.

Use our EMI Calculator to plan repayments effectively.

Testimonials

“LoanPao’s cancellation process was quick and hassle-free. Refund processed in just 8 days!”

Priya Singh, Delhi

“Transparent policies and great support. Got my refund without any issues.”

Rahul Gupta, Mumbai

Frequently Asked Questions

Cancel pre-approval via your account within 7 days at no cost. Post-approval, notify within 3 days.

Processing fees are refundable pre-approval. Third-party fees are non-refundable.

Refunds are processed in 7–10 business days to the original payment method.

Contact Us

For refund or cancellation queries in India 2025:

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