Refund & Cancellation Policy

1. Preamble / Objective

Venus Barter Private Limited ("the Company") is committed to fair, transparent, and borrower-friendly practices in line with RBI guidelines. This Refund and Cancellation Policy outlines the rules for cancellation of loan applications, refunds of fees (if applicable), prepayment/foreclosure, and related processes for personal loans offered through the VMoney platform.

All terms are disclosed upfront in the Key Facts Statement (KFS), sanction letter, and loan agreement.

2. Scope

This Policy applies to:

Loan applications submitted but not yet disbursed
Loans disbursed (including cooling-off period cancellations)
Prepayment / Foreclosure (full or partial)
Any excess payments or erroneous transactions

3. Cancellation Before Disbursement

You may cancel your loan application at any time before disbursement by contacting Customer Care (grievance@venusbarter.com or +91 95121 82186.)
If the loan is not sanctioned or disbursed, any processing fees paid (if applicable) shall be refunded as per RBI guidelines, minus reasonable administrative costs (disclosed in KFS).
No cancellation charges apply pre-disbursement.

4. Cooling-Off Period / Cancellation After Disbursement

As per RBI Digital Lending Guidelines, you have a cooling-off period (typically 3–7 calendar days from disbursement, as specified in your KFS/sanction letter) during which you can cancel the loan without penalty (except for a reasonable one-time processing fee).

To cancel:

Inform the Company in writing (email or app) within the cooling-off period.
Repay the full principal amount disbursed immediately (no interest charged if repaid within cooling-off).
The Company will refund any excess amount (if any) within 7 business days after verification.
Processing fee (if charged) is non-refundable beyond the disclosed reasonable amount, as it covers administrative/KYC costs.

5. Prepayment / Foreclosure (After Cooling-Off)

Floating Rate Personal Loans: No prepayment or foreclosure charges (as per RBI Pre-payment Charges on Loans Directions, 2025, effective January 1, 2026). You can prepay fully or partially at any time without penalty.
Fixed Rate Loans (if applicable): Any charges will be reasonable, disclosed upfront in KFS/sanction letter, and not retrospective.
Process: Request prepayment via app/email. Interest will be recalculated on reducing balance; excess interest (if any) refunded/adjusted.
No minimum lock-in period.

6. Refund of Excess / Erroneous Payments

In case of double payment, technical error, or overpayment:

Submit a refund request with transaction details, proof (e.g., UPI reference, bank statement), and reason.
Email to grievance@venusbarter.com or contact Customer Care.
Refunds processed within 7–10 business days after verification, credited to the original payment source or registered bank account.
No refunds for legitimate EMI payments post-disbursement unless error proven.

7. Key Commitments & Exclusions

All fees/charges are disclosed in KFS and loan agreement — no hidden costs.
Processing fees are non-refundable once the loan is processed/sanctioned (except as per cooling-off).
No refunds for penal/late fees or interest accrued.
The Company follows RBI fair practices — no coercive tactics.
Disputes resolved via Grievance Redressal Policy; escalate to RBI Ombudsman if needed.

8. Review & Communication

This Policy is reviewed annually or on RBI updates.
Displayed on website (www.venusbarter.com), VMoney app, and in KFS/sanction letter.