India

Refund & Cancellation

Version: 1.0

This Refund and Cancellation Policy (“Policy”) outlines the terms and conditions governing refunds, cancellations, and dispute redressal for services offered through www.crediple.com (“Platform”), owned and operated by Crediple, a product of [Insert Legal Entity Name]. This Policy is legally binding on all users and has been drafted in accordance with applicable Indian laws, including but not limited to the Information Technology Act, 2000 and the Reserve Bank of India (RBI) guidelines.

1. Services Covered Under This Policy

This Policy applies to the following services offered via the Platform:

Credit Report Audit and Repair Services
Credit Score Improvement and Optimisation Services
Credit Facilitation Services
Credit Correction Services
External Credit Rating Support
“Loan Konnect” Services (connecting users with third-party Loan Direct Selling Agents)
Platform Fees charged for premium features and reports
Subscription-based or recurring services

2. General Principles

All service fees paid are considered predefined and non-refundable, except under conditions explicitly stated in this Policy.
By availing any service, the user agrees to these terms and consents to abide by the procedures detailed herein.
Refund eligibility is determined at Crediple’s sole discretion in accordance with this Policy and applicable law.

3. Refunds for Failed or Duplicate Transactions

In accordance with the RBI’s Turn Around Time (TAT) guidelines, the following provisions apply:

In case of failed digital transactions (e.g., due to network failure, gateway errors, or bank-side errors), the user shall be eligible for an automatic refund to the original source account within 5 working days.
For duplicate payments, users must notify Crediple within 7 days of the transaction, providing valid proof. Upon verification, a refund will be processed within 10 working days.
Compensation Clause:
For delays beyond the RBI-mandated TAT, the user shall be eligible for compensation of ₹100 per day, to be credited by the bank responsible for the delay (as per RBI ODR and TAT circulars).

4. Service Cancellation Policy

4.1 User-Initiated Cancellations

Cancellation requests for standard services must be raised within 10 minutes of payment, and only if the service has not yet been initiated.
No cancellations are permitted once a service has been availed, used, or initiated (e.g., reports accessed, audits conducted, agent assigned).

4.2 Loan Konnect Services

Users engaging with third-party Loan DSAs via Loan Konnect (powered by Starpowerz Digital Technologies Private Limited) shall not be eligible for cancellation or refund from Crediple, as Crediple acts only as a facilitator.
Platform Fees for Loan Konnect are non-refundable, as they are charged solely for connecting users with the Loan DSA.
All financial services provided post-connection are governed by the policies of the respective DSA.

5. Refund Eligibility for Service Disputes

Refunds, where applicable, may be considered only under the following conditions:

Non-delivery of service within the committed timeframe due to errors attributable solely to Crediple.
Incorrect deduction of charges not aligned with the user’s selected service plan.
Technical issues preventing access to purchased services, validated by Crediple’s technical team.
In all such cases, a valid Service Request Number (SRN) must be presented and verified.

No refunds shall be entertained in the following cases:

Change of mind after service purchase
Misunderstanding of service features clearly mentioned on the Platform
Non-satisfaction with third-party services (e.g., loan approval or disbursal outcomes)
Dispute after the expiry of the refund request window

6. Refund Processing Timeline

Verified refund claims will be processed within 7–10 working days from the date of approval.
Refunds will be credited to the original mode of payment only.
In case of failed transactions via Payment Gateways or UPI, the refund cycle is subject to respective banking partners and gateway providers.

7. Recurring Payment Compliance

In adherence to RBI’s guidelines on recurring payments:

User consent will be obtained through an Additional Factor of Authentication (AFA) such as OTP.
Pre-transaction notification will be provided before auto-debit for subscriptions.
Users can revoke recurring mandate at any time from the dashboard or payment gateway.
Upon mandate revocation, future charges will be stopped, but no refunds will be issued for prior debits.

8. Online Dispute Resolution and Grievance Redressal

Crediple maintains a robust Online Dispute Resolution (ODR) mechanism in compliance with RBI standards:

Users may raise disputes via email at grievance@crediple.com or via the in-app Grievance Redressal Portal.
A unique Service Request Number (SRN) or Dispute Reference Number (DRN) will be issued.
All disputes will be responded to within 5 business days and resolved within 45 working days.

If unsatisfied, users may escalate the issue to:

Nodal Officer – Crediple

Email: nodal@crediple.com

Unresolved disputes beyond one month may be directed to the Reserve Bank – Integrated Ombudsman Scheme, 2021.

9. Security of Payment Information

Crediple follows the RBI’s Digital Payments Security Controls (2021).

All card details, UPI IDs, and OTP authentication flows are encrypted and stored securely through PCI-DSS certified payment gateways.
Passkeys, OTPs, tokenised credentials, and any sensitive payment-related data are never stored directly by Crediple.

10. Changes To Policy

Crediple reserves the right to modify, update, or change this Policy at any time without prior notice. Revised versions will be published on this page with a new effective date. Continued use of the Platform after such changes implies user consent to the updated policy.

11. Governing Law And Jurisdiction

This policy shall be governed by the laws of India. Any disputes shall be subject to the exclusive jurisdiction of the courts at Hyderabad, India.

12. Amendments

Crediple reserves the right to modify or update this Policy at any time. Changes will be posted on the Platform with the updated effective date. Users are encouraged to review the Policy periodically.

13. Contact Us

For refund or cancellation-related queries:

Crediple – Customer Support
Email: support@crediple.com