Refund & Cancellation Policy
This Refund & Cancellation Policy applies to the processing / facilitation fee charged by Mahalaxmi Capital Group ("Company", "we", "us") for the loan facilitation and related services that we provide. It does not cover interest, principal repayment, foreclosure charges, bounce charges or any other fees charged by our Lending Partners — those are governed by the respective lender''s policy and the loan agreement signed with them.1. Refund of Processing / Facilitation FeeScenario A — Application not submitted to a Lending Partner: If your loan application has not been forwarded to a Lending Partner due to (a) incomplete KYC, (b) failure to submit required documents, (c) ineligibility under our internal policy, or (d) your decision not to proceed, the processing fee paid to us (if any) will be refunded in full within 7–10 working days, net of any payment-gateway charges and applicable taxes which are non-refundable.Scenario B — Application submitted but rejected by the Lending Partner: If your application has been forwarded to a Lending Partner and the partner rejects it for any reason (credit, policy, KYC, etc.), the facilitation fee paid to us will be refunded in full within 7–10 working days from the date of rejection, after deducting payment-gateway charges and applicable taxes.Scenario C — Loan sanctioned but not disbursed due to our error: If the loan has been sanctioned by the Lending Partner but disbursal is delayed or cancelled due to a clear error on our part, the full processing fee will be refunded within 7–10 working days.Scenario D — Loan disbursed: Once the loan has been disbursed to your bank account, the processing / facilitation fee paid to us is non-refundable in full, as the service has been rendered.2. Refund of Over-Payments & Duplicate PaymentsIf you have made a duplicate payment or paid an amount in excess of what is due, please write to us at the contact details below. We will acknowledge your request within 3 working days and process the refund within 7–10 working days after verification.3. Cancellation by the CustomerYou may cancel your application at any time before disbursal by writing to us or calling our helpline. If the cancellation is received before the application is forwarded to a Lending Partner, the processing fee (if any) will be refunded as described in Scenario A. If the cancellation is received after the loan has been sanctioned, you will also need to follow the lender''s own cancellation process.4. Mode of RefundAll approved refunds will be credited to the original source of payment (bank account, card, UPI or wallet) using the same payment instrument. We do not issue cash refunds or refunds to a third-party account.5. TimelineRefunds are typically processed within 7–10 working days from the date of approval. The credit may take an additional 3–5 working days to reflect in your account depending on your bank or card issuer.6. TaxesAll fees are inclusive of GST as applicable. GST, once charged, is deposited with the government and is non-refundable except as required by law.7. Lender-Level ChargesForeclosure charges, part-payment charges, late-payment fees, bounce charges, documentation charges and any other lender-level fees are governed solely by the loan agreement you have signed with the Lending Partner and are not covered by this policy. Please refer to your loan agreement and the lender''s policy for those terms.8. DisputesIf you believe a refund is due and you have not received it within the timelines above, please contact our Grievance Officer. We will investigate and respond within 30 days.9. Changes to This PolicyWe may update this Refund & Cancellation Policy from time to time. The latest version will be posted on this page along with the effective date.10. ContactFor any refund or cancellation request, please write to our Grievance Officer (details on the Grievance Redressal page) with your application / loan reference number and payment details.
