Cancellation
1. While granting loans every attempt is made to do proper assessment and
scrutiny on case to case basis. However the ClickMyLoan has all rights to
cancel the sanction letter if it is found that the applicant has provided
incorrect/ false information and or submitted faulty/ fake/ improper
documents to mislead the ClickMyLoan. The cancellation will be done, at
any time before or after the disbursement (full or partial) of the loan amount.
The ClickMyLoan reserves the right to recall the entire amount disbursed
along with interest and penalties which the ClickMyLoan may deem fit and
the entire amount will be payable to the ClickMyLoan in one single
installment immediately on demand. The ClickMyLoan will have every
right to take any legal/ criminal action against a person/ entity who has tried
to avail any loan facility through such misrepresentation/ fraud.
2. In the event that the ClickMyLoan discovers that the borrower has utilized
the loan amount for a purpose that was not intended as per the loan
application form, or if the end use of the loan is not confirmed by the
borrower, the ClickMyLoan reserves the right, at its discretion, to cancel the
loan sanction and recall the entire loan amount disbursed, along with interest
and penalties. If the borrower fails to repay the due amount in a single
installment, the ClickMyLoan will be entitled to take legal and/or criminal
action against the borrower as described above.
3. The ClickMyLoan will have every right to amend the terms of sanction/ to
reduce the amount/ period/ interest rate as per sanction at any time before or
after the disbursement of the loan. The borrower will have no recourse
against this decision of the ClickMyLoan. However the ClickMyLoan has
every right to cancel the sanction letter and recall the entire loan without
assigning any reason whatsoever.
4. At the end of the repayment period the entire outstanding balance will
become due and payable on the due date. Extension of repayment will be
granted only in extra-ordinary circumstances i.e. Natural Calamity/ Natural
Disaster etc.
Refund
1. If an excess amount is deposited in the loan account at the end of the
repayment period and there is any credit balance in the loan account of the
borrower it will be refunded back on being brought to the notice of the
ClickMyLoan.
2. The ClickMyLoan will not be responsible in the event of any failed
transaction of crediting loan installment through debit card due to any
reasons whatsoever.
3. If any repayment installment is wrongly credited to different account other
than the one intended for it will appropriated to the relevant account after it
is brought to the notice of the ClickMyLoan. The ClickMyLoan will not be
responsible for any such instances and the consequent loss to the borrower
whatsoever. In the event of any such wrong credit through debit card, the
relevant entry will be appropriated within fifteen working days from the date
it is brought to the notice of the ClickMyLoan.
4. The ClickMyLoan reserves all rights to change/ amend/ add/ cancel any/ all
of the above rules at any time at its sole discretion without any prior notice
whatsoever.