Please read the following policy carefully to understand the applicable conditions relating to loan applications, service charges, cancellations and refunds.
This Refund & Cancellation Policy applies to services provided through the PAIFI website and explains the circumstances under which an application or service may be cancelled and whether any amount may be eligible for refund.
A loan application may be cancelled before loan processing reaches a stage where cancellation is no longer permitted.
Cancellation requests should be submitted through the available customer support channels as soon as possible.
If a customer requests cancellation before disbursement and no non-refundable service or processing charge has become applicable, the request may be considered subject to the applicable terms.
Once the approved loan amount has been disbursed, cancellation of the loan is generally not treated as a normal service cancellation.
Any applicable pre-closure, foreclosure, repayment or other charges will be governed by the applicable loan agreement and disclosed terms.
Processing fees, platform/service charges or other applicable charges may be non-refundable where the relevant service has already been provided or processing has commenced, subject to the applicable agreement and disclosures.
If a customer makes a duplicate payment due to a technical or payment-processing issue, the customer may contact PAIFI with the relevant transaction details.
After verification, an eligible duplicate amount may be refunded through the applicable payment channel.
In case an amount is debited from the customer's bank account but the corresponding transaction is not successfully recorded, the transaction will be subject to reconciliation.
Eligible amounts will be processed according to the applicable payment gateway and banking timelines.
A refund may be considered where an amount has been collected incorrectly, duplicated, or where the applicable service terms specifically provide for a refund.
Refund eligibility will be determined after reviewing the transaction and relevant records.
Customers requesting a refund should contact PAIFI customer support and provide:
PAIFI may verify the transaction, application, payment records and other relevant information before approving a refund request.
Once a refund is approved, the amount will be processed through the applicable payment or banking channel. The actual credit time may vary depending on the payment gateway, acquiring bank and customer's bank.
Where payments are processed through a third-party payment gateway, refunds may be subject to the gateway's processing procedures and timelines.
Customers are responsible for providing accurate banking and payment information. Delays or failed refunds resulting from incorrect information provided by the customer may require additional verification.
Amounts may not be refundable where the applicable service has already been provided, a disclosed non-refundable charge applies, or the request does not satisfy the applicable refund conditions.
If an application cannot proceed because the applicant does not meet applicable eligibility, verification, credit or policy requirements, cancellation or refund will be handled according to the applicable service terms.
Customers should immediately report any suspected unauthorized or fraudulent transaction to PAIFI and, where appropriate, their bank or payment provider.
Customers should contact PAIFI regarding transaction disputes before initiating a payment chargeback wherever reasonably possible. PAIFI may review chargeback claims with the relevant payment provider.
PAIFI may update this Refund & Cancellation Policy from time to time. The updated version will be published on this website with the revised effective date where applicable.
Customers should carefully review applicable loan terms, charges, repayment obligations and disclosures before accepting a loan or making a payment.
For questions regarding cancellation, payments or refunds, please contact our customer support team.
Refunds, cancellations, fees and repayment obligations are subject to the applicable loan agreement, Key Fact Statement (KFS), payment terms and other disclosures applicable to the customer.