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Refund & Cancellation Policy

Last updated: July 08, 2026

This Refund & Cancellation Policy sets out when and how you can obtain a refund for payments made to BPB Financial Services Private Limited (formerly Bhuraro Fintech Private Limited) through the Loan4Bank Platform. The Policy is designed to comply with the Consumer Protection Act, 2019, RBI Digital Lending Guidelines, 2022 and IRDAI free-look norms.

1. Scope

This Policy covers direct payments to the Company for platform services and franchise fees. Refunds for lender/insurer/AMC products are governed by the respective regulated entity’s policy and the applicable regulator’s rules.

2. Refund matrix by category

Loan-processing / Sanction fees
Non-refundable
Processing fees charged by the lender are non-refundable once the loan is under credit-appraisal, even if the borrower withdraws or the application is declined. Cooling-off refunds (see § 4) are governed separately.
Platform convenience / service charges
Conditional
Refundable only if the underlying service (KYC verification, credit-bureau report) failed due to a technical fault at the Company's end. Refunds are credited to the source instrument within 7 working days.
Franchise onboarding fee
Non-refundable
Non-refundable once onboarding kit is dispatched. Security deposit is refundable at contract end (see Franchise Agreement, § 3).
White-Label setup fee
Conditional
50% refundable if the Partner withdraws before the tenant provisioning is initiated. Zero refund once tenant is provisioned. Monthly platform fee is non-refundable pro-rata.
BBPS / UPI / DMT payments
Auto-reversal
Failed transactions are auto-reversed as per the NPCI / BharatBillPay TAT (typically T+1 to T+5 working days). Successful transactions cannot be recalled; disputes are handled by the beneficiary's bank.
Insurance premium
Conditional
Insurance premiums are refundable only per the insurer's free-look period (typically 15/30 days) as prescribed under IRDAI regulations. Claims must be filed with the insurer directly.
Investment subscriptions
Non-refundable
Once units are allotted by the AMC / issuer, refunds are not possible from our side. Exit is through redemption at prevailing NAV / market price.
Duplicate / erroneous charge
Refundable
Full refund within 7 working days upon verification. Report within 30 days of the debit to receive priority handling.

3. How to request a refund

  1. Log in and raise a ticket at Support → Refund Request, or e-mail support@loan4bank.com with the subject “Refund Request – [Transaction ID]”.
  2. Attach: (a) transaction ID / UTR; (b) amount & date; (c) reason; (d) bank statement extract; (e) any correspondence.
  3. Our team acknowledges within 2 working days and issues a decision within 7 working days.
  4. Approved refunds are credited to the source instrument within 7 working days of decision. UPI refunds may reflect faster.

4. Loan cooling-off & foreclosure

As per RBI Digital Lending Guidelines 2022, borrowers get a cooling-off period after disbursal (as specified in the loan Key Fact Statement, typically 3 days) during which the loan may be repaid in full without prepayment charges, other than the interest for the utilised period. Post cooling-off, foreclosure charges are governed by the loan agreement.

5. Insurance free-look

All new insurance policies allow a free-look period (15 days for regular policies, 30 days for distance-marketing) during which you may cancel and receive a refund of premium less proportionate risk premium, stamp duty and medical examination expenses, as per IRDAI regulations.

6. Failed transactions (BBPS / UPI / DMT)

Failed transactions are automatically reversed per NPCI Turn-Around-Time (TAT):

  • UPI: T+1 working day
  • IMPS: T+1 working day
  • NEFT / RTGS: T+2 working days
  • BBPS bill payment: per biller policy, typically T+5 working days

If not reversed within TAT, you may raise a dispute in-app or with your bank. RBI compensation of ₹100/day applies for delayed reversals per NPCI norms.

7. Mode & timing of refund

Refunds are always credited to the original payment instrument. We do not disburse refunds in cash or to a different account. Timelines depend on the payment method:

  • UPI / Wallets: 1–3 working days
  • Credit / Debit card: 5–7 working days (depending on issuing bank)
  • Netbanking / NEFT: 3–5 working days

8. Chargeback & disputes

If you initiate a chargeback with your card issuer, we reserve the right to (a) reverse any related commission credited to your account and (b) place your account on hold pending resolution. We shall cooperate with the issuer’s dispute process and share transaction evidence.

9. Refunds obtained by fraud

Refunds sought through misrepresentation, forged documents or fraud shall be reversed and reported to the appropriate authorities under the IPC, IT Act 2000 and PMLA 2002.

10. Escalation

If you are not satisfied with our resolution:

  1. Escalate to the Grievance Officer at support@loan4bank.com (SLA 15 working days).
  2. For loan-related grievances, approach the RBI Ombudsman at cms.rbi.org.in / 14448.
  3. For insurance grievances, approach the Insurance Ombudsman via cioins.co.in.

11. Contact

BPB Financial Services Private Limited
CIN: U67190RJ2018PTC061624 · GSTIN: 08AAHCB8896P1ZJ
E-mail: support@loan4bank.com · Phone: +91 89496 31537