At MasterLoans, our aim is to provide a transparent, convenient and reliable digital experience for users exploring personal loan options. This Refund and Cancellation Policy explains how refund requests, cancellation requests and payment-related issues are handled when you use our website and associated services.
MasterLoans facilitates the digital loan application journey and may connect applicants with lending partners. The actual sanction, disbursal, servicing and repayment of a loan are subject to the terms of the relevant lending institution and the applicable loan agreement.
By using our services, you acknowledge this policy, subject to your rights under applicable law. Please read it together with the MasterLoans Privacy Policy, Terms & Conditions, Legal page and Disclaimer.
1. Refund Policy
1.1 General refund principles
Refund eligibility depends on the nature of the payment, the service involved, the status of the transaction and any applicable terms disclosed to you before payment.
Submitting a loan application or checking loan eligibility does not, by itself, guarantee loan approval or create an automatic entitlement to a refund. Similarly, the rejection of an application does not automatically determine whether a payment is refundable.
1.2 Eligibility for refunds
A refund may be considered in circumstances such as:
- Duplicate payments. Where the same applicable fee has been successfully charged more than once for a single transaction.
- Failed transactions. Where money has been debited from your account but the corresponding payment or service transaction has not been completed.
- Erroneous charges. Where a payment has been collected incorrectly or an amount has been charged contrary to the applicable disclosed terms.
- Cancelled or unavailable services. Where a paid service is cancelled, cannot be provided, or becomes unavailable under circumstances that entitle the customer to a refund.
- Other eligible circumstances. Where a refund is required under the applicable agreement, the rules of the payment provider, or applicable law.
Each request will be reviewed on its individual merits. Refunds will not be denied where a refund is legally required.
1.3 Non-refundable payments
Payments for services already provided, validly incurred charges, or services expressly identified as non-refundable may not qualify for a refund, subject to applicable law and the terms disclosed before payment.
Loan processing charges, lender-related fees, or other charges must be assessed according to the applicable lender’s terms and relevant regulations. MasterLoans will not treat every fee as automatically non-refundable merely because a payment has been made.
If your loan application is rejected, withdrawn, or left incomplete, the refund treatment of any payment will depend on the specific charge, the service provided and the applicable terms.
1.4 How to request a refund
To submit a refund request, email help@masterloans.in with the subject line “Refund Request”.
Please include the following information:
- your registered name and contact details;
- application or transaction reference number, if available;
- date and amount of payment;
- payment method used;
- a brief explanation of the issue; and
- relevant transaction confirmation or payment receipt.
1.5 Refund review and processing
Once we receive your request, we will review the available records and may request additional information reasonably necessary to investigate the transaction.
If the refund is approved, it will generally be initiated through the original payment method or another appropriate method agreed with the customer, subject to payment-provider requirements. The time taken for the amount to appear in your account may depend on your bank, payment service provider and transaction type.
We will communicate any material updates or additional requirements where reasonably practicable. If a refund is declined, we may explain the reason, subject to applicable legal and contractual obligations.
1.6 Refunds relating to loans
Loan amounts disbursed by a lending institution are not ordinary website service payments. They are governed by the relevant loan agreement and applicable lending regulations.
If a loan has already been disbursed, cancellation or withdrawal generally cannot be processed as a simple refund through the website. The borrower must follow the applicable lender’s repayment, cancellation or cooling-off procedure.
Where a regulated lender provides a cooling-off period, the borrower’s exit rights, applicable repayment obligations and any permissible disclosed charges will be determined under the applicable rules and loan documents.
2. Cancellation Policy
2.1 Cancellation of a loan application
Users may request cancellation of a loan application that has not yet resulted in loan disbursal by contacting help@masterloans.in.
Please provide your registered contact details, application reference number and a clear request to cancel the application.
Cancellation requests will be processed according to the application’s current status and the procedures of the relevant lending partner. A request submitted through MasterLoans does not necessarily mean the lender has immediately cancelled its records or stopped processing. Users may need to complete additional steps requested by the lender.
2.2 Applications under review or approved
If your application is under review, you may request withdrawal before the loan is disbursed. We will communicate the request to the relevant party where appropriate, subject to the applicable process.
If your loan has been approved but not disbursed, cancellation may be possible depending on the lender’s procedures and the status of the loan documentation.
If the loan agreement has already been executed or funds have been disbursed, the request will be handled under the loan agreement and applicable regulatory requirements. You should contact the lending institution directly when its action or approval is necessary.
2.3 Cancellation after loan disbursal
A borrower wishing to exit a digital loan must follow the applicable lender’s cancellation, cooling-off or repayment procedure. Any required repayment of principal, proportionate interest, or a permitted disclosed fee must be determined under the applicable regulatory framework and loan documents.
Where a cooling-off period applies, the borrower will retain the rights provided by the relevant rules. Other prepayment, foreclosure or early-repayment options will depend on the applicable agreement and regulations.
2.4 Cancellation of other services
Requests to discontinue website access, withdraw consent where applicable, or stop using an optional service may be submitted to our support team. Certain information may need to be retained where required by law, regulatory obligations, legitimate recordkeeping requirements, or the terms governing an existing transaction.
Cancelling the use of the website does not automatically cancel an outstanding loan, reverse a completed payment, or discharge an existing repayment obligation.
2.5 Cancellation confirmation
Where a cancellation request is accepted, confirmation will be provided through an appropriate communication channel when reasonably practicable.
Users should retain the confirmation and any related correspondence for their records. If the request cannot be completed immediately because lender approval or further verification is required, we will communicate the next steps where possible.
3. Missing payment gateway, failed payments and transaction issues
3.1 What is a missing payment gateway issue?
A payment gateway issue may occur when a payment page does not load, a payment option is unavailable, a transaction fails, or the website does not display a payment confirmation after the user completes a payment attempt.
In some cases, your bank account may show a debit even though the website displays a pending, failed or incomplete transaction. This may result from a temporary network interruption, a bank response delay, a payment provider issue, or a delay in updating transaction records.
3.2 What should you do if money is debited?
If money has been debited but the transaction status is unclear, please:
- Check your bank statement or payment application for the transaction status.
- Save the transaction reference number, payment receipt or available confirmation message.
- Check your MasterLoans account or application status, if available.
- Contact help@masterloans.in and explain the issue.
- Contact your bank or payment provider if the debit remains unresolved or requires their intervention.
Please avoid making repeated payments for the same transaction until you have checked its status, where practicable.
3.3 Information required for investigation
To help us investigate, provide your registered contact details, the approximate date and time of payment, the amount, the payment method, the transaction reference number, and a screenshot or receipt showing the issue.
Please hide unrelated account information and never share your UPI PIN, OTP, card PIN, password, or full confidential payment credentials.
3.4 Refund or reconciliation of failed transactions
- Where our records confirm that a payment failed but the amount was debited, we will review the available information and coordinate with the relevant payment provider or other responsible party where appropriate.
- If the amount is automatically reversed by the bank or payment provider, the credit may appear according to their applicable timelines.
- If the payment was successfully received but the website failed to update the status, we will investigate the discrepancy and determine the appropriate correction.
Where a refund is due, it will be initiated in accordance with the applicable payment arrangements and legal requirements. The actual crediting time may depend on the bank or payment provider.
3.5 Payment gateway availability
Payment options and gateway availability may depend on the payment provider, banking network, technical maintenance or other operational circumstances. MasterLoans does not guarantee uninterrupted availability of every payment method at all times.
A technical issue will not remove any refund or other rights that a customer has under applicable law or the terms governing the transaction.
3.6 Fraud prevention and support
- MasterLoans will never require you to disclose your OTP, UPI PIN, card PIN or password to process a refund.
- Do not transfer additional money to an unknown person claiming that a separate payment is necessary to release your refund.
- For payment-related assistance, contact help@masterloans.in through the official website. Include the transaction reference and a clear description of the issue so that the matter can be reviewed.
4. Policy updates and contact information
MasterLoans may update this policy when necessary to reflect changes in its services, payment arrangements, business practices or applicable legal requirements. Updated terms will be published on the website with an appropriate effective date.
For refund requests, application cancellations, failed payments or clarification regarding this policy, contact: