At KwikSalary, a unit of Gagan Metals Limited (RBI: B-14.01740), we are dedicated to providing fast, reliable, and transparent financial solutions. Our tagline, Fast Funding for Life’s Urgencies, reflects our commitment to helping you navigate financial challenges with trust and clarity. This Refund Policy outlines the terms and conditions for refunds and cancellations related to our loan offerings—Advance Salary Loan, Personal Loan, Medical Loan, Travel Loan, and Emergency Loan. We aim to ensure you understand when and how refunds may apply, whether for processing fees or other charges.

As a trusted Non-Banking Financial Company (NBFC), we adhere to the Reserve Bank of India’s (RBI) fair practices code, ensuring ethical and responsible lending. This policy is designed to provide complete transparency, helping you make informed decisions. If you have questions, please contact us at info@kwiksalary.com or +91-9289566951 (Monday to Saturday, 10 AM to 6:30 PM).

Scope of This Policy

This Refund Policy applies to all loan products offered by KwikSalary, including Advance Salary Loan, Personal Loan, Medical Loan, Travel Loan, and Emergency Loan, available to customers in Delhi/NCR, Mumbai, Bengaluru, Pune, and Hyderabad. It covers refunds for processing fees, cancellations of loan applications, and related charges. By applying for a loan, you agree to the terms outlined in this policy.

Our Loan Offerings

KwikSalary provides accessible loan options tailored to short-term financial needs:

• Advance Salary Loan: Bridge financial gaps before your next paycheck.
• Personal Loan: Cover personal expenses with flexible repayment options.
• Medical Loan: Address unexpected medical costs promptly.
• Travel Loan: Fund urgent travel plans without stress.
• Emergency Loan: Tackle unforeseen emergencies with ease.

Loans range from ₹5,000 to ₹1,00,000 with a tenure of up to 90 days, designed to offer fast relief with minimal documentation (primarily PAN card, with bank statements or salary slips if requested).

Refund Eligibility

Refunds may be applicable in specific scenarios related to loan applications or payments. You may be eligible for a refund if:

• Processing Fee Overpayment: You paid a processing fee (0%–10% of loan amount) higher than required due to an error during application.
• Loan Not Disbursed: Your loan application is approved, but funds are not disbursed due to technical issues or KwikSalary’s decision to cancel the loan.
• Application Withdrawn Before Approval: You withdraw your application before the 6-hour* approval process is complete, and a processing fee was charged.

Refunds are subject to verification and compliance with RBI guidelines. We aim to process eligible refunds promptly to maintain your trust.

Non-Refundable Charges

Certain charges are non-refundable to cover administrative and operational costs, as per industry standards:

• Processing Fee After Approval: If your loan is approved and disbursed, the processing fee (0%–10%) is non-refundable, as it covers verification and processing costs.
• Penal Charges: Charges for late repayments (1.25x applicable ROI) are non-refundable, as they are applied to encourage timely payments.
• Cheque Bounce Charges: ₹1,000 per instance for returned cheques is non-refundable, covering bank and administrative fees.
• Interest Paid: Any interest accrued or paid during the loan tenure is non-refundable, as it reflects the cost of borrowing.

We disclose all non-refundable charges upfront during the application process, ensuring no hidden surprises.

Cancellation of Loan Applications

You may cancel your loan application under the following conditions:

• Before Approval: If you cancel during the 6-hour* approval process, no charges apply unless a processing fee was paid, which may be refunded if eligible.
• After Approval, Before Disbursement: If you cancel after approval but before funds are disbursed, the processing fee may be non-refundable, but no interest or penal charges apply.
• After Disbursement: Once funds are disbursed, cancellation is treated as early loan closure, with no penalty but subject to interest accrued up to the closure date.

To cancel, contact us at info@kwiksalary.com or +91-9289566951. We process cancellations promptly, ensuring transparency and fairness.

Refund Process

If you are eligible for a refund, the process is straightforward:

1. Request Submission: Email your refund request to info@kwiksalary.com, including your loan application ID and reason for the refund.
2. Verification: Our team verifies eligibility within 5 working days, ensuring compliance with RBI guidelines.
3. Processing: Approved refunds are processed within 7–10 working days via bank transfer to the account used for payment.
4. Confirmation: You’ll receive an email confirmation once the refund is completed.

We strive to make the refund process seamless, reflecting our commitment to customer satisfaction.

Early Loan Closure

KwikSalary offers flexibility with no penalty for early loan closure. Whether you have an Advance Salary Loan or a Medical Loan, you can repay the outstanding principal and accrued interest early without additional charges. This allows you to save on interest costs and manage your finances confidently. To initiate early closure, contact us at info@kwiksalary.com or +91-9289566951.

Transparency and Responsible Lending

Our refund policy reflects our dedication to trust and reliability, helping us stand out in the personal loan industry. We ensure:

• Clear Communication: All refund eligibility and non-refunded charges are disclosed before you apply.
• Ethical Practices: We avoid coercive methods and handle refunds with fairness, aligning with RBI’s fair practices code.
• Responsible Lending: We assess your repayment capacity (minimum salary ₹40,000) to offer loans you can manage, reducing the need for cancellations.

Our team of over 25 dedicated professionals is committed to making your borrowing experience transparent and stress-free.

Compliance with RBI Guidelines

As an RBI-registered NBFC (B-14.01740), KwikSalary adheres to the Reserve Bank of India’s guidelines for fair practices, including:

• Transparent disclosure of refund and cancellation terms.
• Fair handling of customer requests without coercive practices.
• Efficient grievance redressal within 5 working days.
• Compliance with KYC and consumer protection regulations.

We regularly review our policies to ensure alignment with RBI directives, delivering ethical financial services you can trust.

Changes to This Policy

We may update this Refund Policy to reflect changes in our loan offerings, RBI regulations, or operational processes. Updates will be posted on this page, and significant changes will be communicated via email or website announcements. The revised policy takes effect immediately upon posting.

Contact Us

For questions about refunds, cancellations, or this policy, please reach out:

• Email: info@kwiksalary.com
• Phone: +91-9289566951 (Monday to Saturday, 10 AM to 6:30 PM)
• Address: C-56/32, 2nd Floor, C Block, Industrial Area, Sector 62, Noida, Uttar Pradesh 201301

We’re here to ensure your experience with KwikSalary is clear, fair, and supportive.

Grievance Redressal

If you have concerns about refunds, cancellations, or our services, contact our Grievance Redressal Cell. We commit to resolving issues within 5 working days. For unresolved complaints, you may escalate to the RBI’s Banking Ombudsman, as per RBI guidelines. Our ethical approach ensures your concerns are addressed with care and fairness.