REFUND & CANCELLATION
Refund and Cancellation Policy
Please read the following policy applicable to membership and services of Mere Apne Fincare Co-operative Urban Thrift & Credit Society Limited.
1. Membership Fee – Non-Refundable
The membership fee of ₹1,850 (one thousand eight hundred fifty rupees) is non-refundable. Once paid and membership is registered with the Society, no refund of the membership fee will be made, whether the member chooses to discontinue membership, is removed, or for any other reason, except as may be expressly required under the Delhi Co-operative Society Act, 2003, or rules framed thereunder, or as decided by the Society in specific exceptional cases in accordance with its bylaws.
2. Savings, Deposits and Withdrawals
Withdrawals from savings accounts (including Standard Savings and Baalbachat), Fixed Deposits, Recurring Deposits, and other deposit products are governed by the respective product terms and society rules. Premature withdrawal, if permitted, may attract reduced or no interest as per policy. Refunds of principal or interest are as per the applicable scheme terms and society bylaws.
3. Loans – Prepayment and Cancellation
Loan cancellation or prepayment is subject to the loan agreement and society policy. Any prepayment or closure may involve applicable charges or interest as per the terms communicated at the time of sanction. No refund of processing or other one-time charges is implied unless expressly stated in the product terms.
4. Digital Payments and Transfers
For payments made to the Society’s bank account (e.g. South Indian Bank) or through any digital channel: in case of erroneous or duplicate transfer, the member must contact the Society with proof of transaction. Resolution, including any refund, will be as per the Society’s internal policy and bank procedures, and subject to verification.
5. General
This policy is in addition to, and not in substitution of, the Society’s bylaws and any product-specific terms. The Society reserves the right to modify this Refund & Cancellation Policy. For any clarification, please contact the Society at its registered or working office in Laxmi Nagar, Delhi, or through the official channels published on the website.
Last updated: February 2025. Membership fee ₹1,850 is non-refundable as per society policy.