Cancellation & Refund Policy

Cancellation Policy

While granting loans, every effort is made to conduct a proper assessment and scrutiny on a case-by-case basis. However, CreditExchange.ai reserves the right to cancel any offers at any time without prior notice. No party shall have the right to appeal this decision in court.

CreditExchange.ai also reserves the right to cancel the sanction letter if it is found that the applicant has provided incorrect or false information, or submitted faulty, fake, or improper documents to mislead CreditExchange.ai. This cancellation can occur at any time before or after the disbursement (full or partial) of the loan amount. CreditExchange.ai may recall the entire amount disbursed along with any interest and penalties deemed appropriate, which will be payable in one single installment immediately upon demand. Legal or criminal action may be taken against any person or entity attempting to avail themselves of a loan facility through such misrepresentation or fraud.

If CreditExchange.ai discovers that the borrower has utilized the loan amount for a purpose not intended as per the loan application form, or if the end use of the loan is not confirmed by the borrower, CreditExchange.ai reserves the right, at its discretion, to cancel the loan sanction and recall the entire loan amount disbursed, along with interest and penalties. Should the borrower fail to repay the due amount in a single installment, CreditExchange.ai will be entitled to pursue legal and/or criminal action against them.

CreditExchange.ai retains the right to amend the terms of sanction, including reducing the amount, period, or interest rate at any time before or after disbursement of the loan. The borrower will have no recourse against this decision. Furthermore, CreditExchange.ai has the right to cancel the sanction letter and recall the entire loan without providing any reason.

At the end of the repayment period, any outstanding balance will become due and payable on the due date. Extensions of repayment will only be granted in extraordinary circumstances such as natural calamities or disasters.

Refund Policy

If an excess amount is deposited in the loan account at the end of the repayment period and there is a credit balance in the borrower's account, it will be refunded upon notification to CreditExchange.ai.

CreditExchange.ai will not be responsible for any failed transactions related to crediting loan installments through debit cards for any reason. If any repayment installment is incorrectly credited to an account other than the intended one, it will be appropriated to the relevant account once brought to CreditExchange.ai's attention. CreditExchange.ai will not be liable for any such instances or resulting losses to the borrower. In cases of wrong credit through debit cards, adjustments will be made within fifteen working days from when it is reported.

CreditExchange.ai reserves all rights to change, amend, add, or cancel any or all of these rules at its sole discretion without prior notice.