Cancellation & Refund Policy

This Cancellation & Refund Policy explains how cancellation, refund, failed transaction, and service-related requests are handled on the Nishwik platform. This policy applies to users, institutions, partners, and customers using Nishwik's website, software, digital workflows, lead forms, payment links, SaaS services, referral programmes, and partner-led financial product journeys.

1. About Nishwik and Scope of Services

Nishwik Global Fintech Private Limited ("Nishwik", "we", "our", or "us") operates as a technology, SaaS, and financial distribution platform. Nishwik is not a bank, NBFC, insurer, mutual fund company, or direct lender. Financial products displayed or facilitated through Nishwik are offered by regulated banks, NBFCs, AMCs, issuers, payment service providers, or other authorised partner institutions, subject to their own eligibility criteria, documentation, risk policies, fees, timelines, and terms.

This policy covers Nishwik-controlled charges such as platform fees, SaaS subscription fees, service fees, referral-related fees, and other charges collected directly by Nishwik. It does not override the cancellation, refund, foreclosure, withdrawal, redemption, cooling-off, lock-in, or reversal policies of third-party financial partners.

2. General Cancellation Policy

• Cancellation requests must be raised in writing by emailing support@nishwik.com.
• The request must include the customer's full name, registered mobile number, registered email address, transaction ID or payment reference number, service name, date of payment, and reason for cancellation.
• Cancellations are reviewed based on the nature of the service, stage of processing, partner status, and whether the service has already been activated, consumed, or substantially delivered.
• Once a request has been submitted to a partner bank, NBFC, investment partner, payment partner, or other regulated institution, cancellation will be subject to that partner's applicable policy.

3. SaaS, Software, and Platform Access Cancellation

For school, hospital, society, home loan application assistance service, institutional dashboard, workflow automation, CRM, ERP, or other SaaS/platform services provided by Nishwik:

• Customers may request cancellation before service activation, onboarding, deployment, or credential creation.
• After activation, access may continue until the end of the active billing cycle unless otherwise agreed in writing.
• Fees for already consumed usage, completed onboarding, implementation, customisation, training, integration, data migration, or support services are generally non-refundable.
• Any annual, quarterly, or monthly subscription cancellation will be governed by the commercial proposal, invoice, agreement, order form, or SaaS terms accepted by the customer.

4. Loan Application and EMI Cancellation

For personal loan, business loan, home loan, education fee EMI, hospital bill EMI, society payment EMI, or any other credit-related journey:

• Users may request withdrawal of an enquiry before the application is submitted to a lending partner.
• Once an application is submitted to a bank, NBFC, DSA partner, LSP partner, or other lending institution, cancellation, withdrawal, refund of processing fees, foreclosure, prepayment, and reversal will be governed by the respective lender's policy.
• Nishwik does not guarantee loan approval, sanction, disbursal, cancellation, refund of lender charges, or reversal of lender fees.
• Any charges collected directly by a lender, credit bureau, verification agency, documentation partner, insurance partner, or payment partner will be subject to that entity's terms.

5. Investment Product Cancellation and Refunds

For fixed deposits, digital gold, mutual funds, bonds, insurance-linked products, or any other investment product distributed or facilitated through partner institutions:

• Cancellation, withdrawal, redemption, premature closure, lock-in, settlement, market risk, price fluctuation, taxation, and partner charges will be governed by the respective regulated partner's policy.
• Investment products may involve market risk, price changes, lock-in periods, partner fees, statutory deductions, taxes, or premature withdrawal penalties.
• Nishwik cannot independently reverse or refund partner-executed investment transactions once processed by the relevant issuer, distributor, trustee, custodian, bank, AMC, digital gold provider, or other regulated partner.

6. Refund Eligibility

Refunds may be considered only in the following cases, subject to verification:

• Duplicate payment made for the same service.
• Payment debited but service not activated due to a verified Nishwik platform error.
• Incorrect amount charged due to a verified technical or billing error by Nishwik.
• Cancellation request approved before service activation or before substantial service delivery.
• Failed transaction where the amount was debited and not automatically reversed by the bank, UPI app, card issuer, wallet, or payment gateway within the normal reconciliation period.

7. Non-Refundable Cases

Refunds will generally not be provided in the following cases:

• Services already activated, used, consumed, completed, or substantially delivered.
• Implementation, setup, onboarding, training, integration, data migration, customisation, or support work already completed.
• Loan rejection, lower loan amount, higher interest rate, delay, or non-approval by a lending partner.
• Investment loss, market movement, gold price movement, interest rate change, issuer policy, redemption charge, lock-in, or tax deduction.
• Incorrect information, documents, bank details, UPI ID, mobile number, email ID, or partner selection provided by the user.
• Charges collected directly by banks, NBFCs, AMCs, investment partners, insurers, verification partners, credit bureaus, payment gateways, or other third parties.
• Change of mind after payment where service processing has already started.
• Suspension or termination due to misuse, fraud, policy violation, chargeback abuse, unlawful activity, or breach of Nishwik's Terms & Conditions.

8. Failed, Pending, or Duplicate Transactions

• If money is debited but payment status is failed or pending, users should wait for bank/payment gateway reconciliation.
• Most failed transactions are automatically reversed to the original payment source by the issuing bank, UPI provider, card network, wallet, or payment gateway.
• If the amount is not reversed within 7 business days, users should email support@nishwik.com with payment proof and transaction details.
• Where Nishwik receives confirmation of a duplicate or failed transaction credit, the refund will be initiated to the original payment method, subject to payment gateway and banking timelines.

9. Refund Request Process

To request a refund, email support@nishwik.com with the following details:

• Full name of the customer or institution
• Registered mobile number and email address
• Transaction ID, UPI reference number, order ID, invoice number, or payment gateway reference
• Date and amount of transaction
• Service/product for which payment was made
• Reason for refund request
• Screenshot or proof of payment, if available

Nishwik may request additional verification documents before approving or rejecting a refund request.

10. Refund Review and Processing Timeline

• Refund requests are normally acknowledged within 3 business days.
• Refund eligibility review may take up to 7 business days from receipt of complete information.
• Approved refunds are generally initiated within 7 business days after approval.
• After initiation, the actual credit to the customer's account may take 5–21 business days depending on the bank, card issuer, UPI provider, wallet, payment gateway, or payment method used.
• Refunds will be made only to the original payment source unless otherwise required by law or payment partner rules.

11. Partial Refunds

Nishwik may approve partial refunds where part of the service has already been delivered, where platform costs have been incurred, or where third-party charges are non-refundable. Any applicable taxes, payment gateway charges, partner charges, or statutory deductions may be adjusted where permitted by law and payment partner rules.

12. Chargebacks and Disputes

Customers are encouraged to contact Nishwik first before raising a chargeback or dispute with their bank, card issuer, UPI provider, wallet, or payment gateway. Nishwik may share transaction records, invoices, service logs, consent records, communication history, and other supporting evidence with payment partners, acquiring banks, card networks, or regulators to resolve disputes. Fraudulent, abusive, or repeated chargebacks may lead to suspension of platform access.

13. Partner-Governed Refunds

Where a transaction involves a third-party partner, including banks, NBFCs, investment partners, insurance partners, payment gateways, verification agencies, institutions, or other service providers, refunds will be subject to the terms of the respective partner. Nishwik will assist users with coordination where possible, but final approval and timeline may depend on the partner.

14. Taxes, Fees, and Statutory Deductions

Any GST, TDS, statutory levy, payment gateway charge, convenience fee, processing charge, documentation charge, or partner fee may be non-refundable where already incurred, paid, or required to be deducted under applicable law or partner terms.

15. Grievance Redressal

For unresolved cancellation or refund complaints, users may contact:

Grievance Officer
Nishwik Global Fintech Private Limited
Email: grievance@nishwik.com
Acknowledgement target: within 7 business days
Resolution target: within 30 days from receipt of complete complaint details

16. Contact Details

Nishwik Global Fintech Private Limited
CIN: U62091MH2025PTC448673
Registered Office: Mumbai, Maharashtra, India
Support Email: support@nishwik.com
Legal Email: legal@nishwik.com
Website: https://nishwik.com

17. Policy Updates

Nishwik may update this Cancellation & Refund Policy from time to time to reflect changes in services, partner requirements, payment gateway requirements, legal obligations, or internal processes. The updated policy will be published on this page and will be effective from the date of publication.