Refund Policy

Refund & Cancellation Policy

Refund & Cancellation Policy

Welcome to LoanPayBima! We are committed to offering a secure, transparent, and seamless experience to all our users. This policy outlines the terms for refunds and cancellations related to services provided on our platform.

1. Aggregator Platform Notice

LoanPayBima operates as a digital aggregator connecting customers with multiple third-party service providers for insurance and loan products. We do not directly issue any policies or disburse loans. All transactions are fulfilled by our partnered insurers or NBFCs.

2. Insurance Services – Refunds

  • Once an insurance policy is successfully issued and the policy document is generated, refunds or cancellations cannot be processed from our end.
  • For cancellations, customers must directly contact the respective insurance provider as per their company-specific refund policies.
  • We will assist you with support contact details and instructions wherever needed.

3. Loan Applications – Cancellation Terms

  • If your loan application has moved to processing, underwriting, or verification stages, a refund will not be applicable.
  • If the application is cancelled within the first 24 hours and no processing has begun, a refund request may be considered.
  • Service charges or platform processing fees (if any) are non-refundable.

4. Duplicate or Failed Transactions

If you are charged multiple times or the transaction fails but your payment is deducted, please contact us with the payment details. Upon verification, we will initiate a refund within 7–10 working days.

5. How to Request a Refund

  • Email us at: support@loanpaybima.in
  • Use subject line: "Refund Request – [Your Policy/Loan ID]"
  • Include Transaction ID, Date of Payment, Reason for Refund, and your Contact Number

6. Important Disclaimers

  • LoanPayBima is not liable for the refund policies of third-party partners (insurance companies, NBFCs, or loan providers).
  • Each refund or cancellation will be subject to the specific provider’s policy and internal timelines.
  • Refunds will be processed only in cases that are genuine, verifiable, and fall under permissible terms.

7. Customer Support

For assistance or inquiries related to refunds or any technical issues, please reach out to our support team:

Email: support@loanpaybima.in
Phone: 9325280889 / 7020956108
Office Address: Raathi Complex, Shop No. 13, Murtizapur, Akola, Maharashtra, India – 444107

We appreciate your trust in LoanPayBima and are committed to providing clarity and fairness in all our processes.

Last Updated: June 2025

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