Refunds & Cancellations
Everything you need to know about loan cancellation and refund procedures.
Last updated: June 2025
1. Loan Cancellation Before Disbursal
If you wish to cancel a loan application after submission but before disbursal, you may do so by contacting our support team immediately. If the loan has not yet been transferred to your bank account, we will process the cancellation without any penalty.
2. Loan Cancellation After Disbursal
Once the loan amount has been disbursed to your registered bank account, cancellation is governed by the loan agreement with Sampati Securities Ltd. To cancel after disbursal:
- You must repay the full disbursed amount within 3 business days from the date of disbursal.
- The processing fee charged at the time of disbursal is non-refundable once the loan is disbursed.
- Interest will be charged on a pro-rata basis for the number of days the loan was outstanding.
- Contact us at the earliest and our team will guide you through the prepayment process.
3. Refund of Processing Fee
The processing fee is collected to cover the cost of credit assessment, KYC verification, and administrative expenses. Refunds of processing fees are applicable only in the following scenarios:
- The loan application was rejected by the partner NBFC after fee payment.
- A technical error caused a duplicate fee deduction.
- The loan could not be disbursed due to circumstances beyond your control.
In such cases, the processing fee refund will be credited back to the original source of payment within 7–10 business days.
4. Prepayment / Foreclosure
KadaNone supports loan prepayment (foreclosure). If you wish to repay your loan before the due date:
- Log in to the KadaNone app or portal and use the "Repayment" section.
- Foreclosure charges, if any, will be as per the loan agreement terms.
- The outstanding principal plus applicable interest and charges will be displayed before you confirm repayment.
5. EMI Reversal / Erroneous Deductions
If an EMI is deducted erroneously (e.g., double deduction or deduction after full repayment), please raise a complaint via our support page. Valid refunds will be processed within 5–7 business days.
6. How to Request a Refund or Cancellation
To initiate a refund or cancellation:
- Email us at support@kadanone.com with your registered mobile number, loan ID, and reason for the request.
- Or visit our Contact page to submit a support ticket.
- Our team will respond within 2 business days.