This policy outlines the terms and conditions regarding the refund of payments collected online by SIF, in compliance with the Reserve Bank of India (RBI) guidelines and applicable laws.
This policy applies to all payments collected online through our website, mobile application, or any other digital platform approved by SIF.
We accept online payments through various methods, including bank transfers, credit/debit cards, UPI, and mobile wallets.
3.2 Payment Confirmation:
- Upon successful payment, a confirmation receipt will be displayed to the borrower in our website by the redirection of payment page and Payment confirmation message will be sent to customer via SMS.
- 4. Refund Policy
4.1 Eligibility for Refund:
- Refunds are applicable only in cases where there has been an error in the payment process, such as duplicate payments, overpayments, or unauthorized transactions.
- Refunds are not applicable for regular and overdue loan repayments unless specifically allowed under certain conditions.
- Refunds are not applicable for foreclosure Payments once the receipt is generated.
4.2 Refund Request Process:
- Borrowers must submit a refund request within 2 days of the transaction date.
- Requests should be made in writing via email to customercare@sifinvest.com or through our official website.
4.3 Required Information:
- Borrowers must provide the following information when requesting a refund:
- Full name
- Loan account number
- Transaction ID
- Date of transaction
- Reason for refund request
4.4 Processing Time:
- Refund requests will be processed within 10 business days of receiving the complete information.
- The refund amount will be credited back to the original mode of payment.
4.5 Refund Charges:
- A 0.5% fee (excluding GST) will be levied for processing refunds. However, any transaction fees or charges imposed by the payment gateway or bank may be deducted from the refund amount.
- 5. Terms & Conditions
5.1 Accuracy of Information:
- Borrowers are responsible for ensuring that all information provided during the payment process is accurate.
5.2 Unauthorized Transactions:
- Borrowers must notify SIF immediately if they suspect any unauthorized transactions via email to customercare@sifinvest.com.
5.3 Changes to the Policy:
- SIF reserves the right to amend this policy at any time. Borrowers will be notified of any significant changes through our official website.
- 6. Confidentiality and Data Protection
6.1 Data Usage:
- Borrower’s personal and financial information will be used in accordance with our Privacy Policy.
- Information will be shared with third parties only for processing payments or as required by law.
- 7. Dispute Resolution
7.1 Complaint Handling:
- Borrowers can file complaints regarding online payments through our customer service department. Contact Details are below
- All complaints will be addressed within 10 working days.
- 8. Payment Privacy Policy
8.1 Collection of Payment Data:
• SIF collects only the necessary payment-related information required to process online transactions, such as transaction reference details, payment amount, and loan account information. Sensitive payment credentials are not stored.
8.2 Use of Information:
• Payment information is used strictly for transaction processing, confirmation, reconciliation, refunds (if applicable), and compliance with regulatory requirements.
8.3 Data Sharing:
• Payment data may be shared with authorized banks and payment gateway service providers solely for completing and validating transactions, in accordance with applicable laws.
8.4 Data Security:
• SIF follows appropriate security measures to protect payment-related information from unauthorized access, misuse, or disclosure.
- 9. Contact Information
For any queries or clarifications regarding online payment refunds, borrowers can contact us at:
Phone: 95855 10143
Email: customercare@sifinvest.com
Address: SIF ACCESS PVT LTD, 129/1 Pudhunagar, Mettupalayam Road, Coimbatore, Annur, Tamil Nadu, India, 641653
