Refund & Cancellation Policy

This Refund and Cancellation Policy outlines the terms regarding processing fees, application cancellations, and refund eligibility for TNBF(Tamil Nadu Business Finance) business loans.

1. Processing Fees

TNBF(Tamil Nadu Business Finance) may charge a processing fee for loan applications. The processing fee:

• Is disclosed upfront before application submission
• Covers the cost of credit assessment, verification, and administrative processes
• Is non-refundable once the application processing has begun
• Is separate from the loan amount and interest charges

2. Cancellation by Applicant

Before Loan Approval

• Applicants may cancel their loan application at any time before approval
• Processing fees already paid are non-refundable
• No future obligations will apply

After Loan Approval, Before Disbursement

• Applicants may cancel within 24 hours of approval notification
• Processing fees are non-refundable
• Agreement must be formally cancelled in writing

After Disbursement

3. Cancellation by TNBF

TNBF reserves the right to cancel or reject any loan application if:

• Applicant does not meet eligibility criteria
• Documentation is incomplete or fraudulent
• Credit assessment reveals adverse results
• Applicant fails to provide required documents within stipulated time

In case of rejection by TNBF(Tamil Nadu Business Finance), processing fees paid will not be refunded as verification costs have already been incurred.

4. Refund Eligibility

Refundable Scenarios

Refunds may be issued in the following cases:

• Duplicate Payment: If processing fee is paid twice due to technical error
• Overpayment: If amount paid exceeds the actual processing fee
• Technical Error: Payment deducted but application not submitted

Non-Refundable Fees

• Processing fees (once verification begins)
• Documentation charges
• Cheque bounce charges
• Late payment penalties

5. Refund Process

For eligible refunds:

1. Submit refund request via email to tnbsns.finance@gmail.com
2. Provide transaction details and reason for refund
3. TNBF(Tamil Nadu Business Finance) will review the request within 7 business days
4. Approved refunds will be processed within 14 business days
5. Refund will be credited to the original payment method

6. Prepayment & Foreclosure

Borrowers have the right to prepay or foreclose their loan:

• No Prepayment Penalty: TNBF(Tamil Nadu Business Finance) does not charge prepayment penalties
• Partial Prepayment: Allowed, reduces principal and future interest
• Full Foreclosure: Pay outstanding principal + accrued interest till date
• Cheque Return: Unused post-dated cheques will be returned

7. Chargebacks & Disputes

In case of payment disputes:

• Contact TNBF customer support immediately
• Provide transaction details and evidence
• TNBF will investigate and respond within 7 days
• Chargebacks initiated without contacting TNBF may result in loan application rejection

8. Contact for Refunds

By applying for a TNBF(Tamil Nadu Business Finance) loan, you acknowledge and accept this Refund and Cancellation Policy.