Loan Processing & Fee Policy – Kistwala.com
This Loan Processing and Fee Policy explains the nature of charges applicable when users apply for loans, credit cards, insurance products, or other financial services through Kistwala.com. By initiating an application and/or making any payment toward service charges, the user confirms that they have read, understood, and agreed to the terms outlined in this policy.
Kistwala.com operates strictly as a Direct Selling Agent (DSA), Direct Marketing Agent (DMA), and Referral or Channel Partner for various banks, Non-Banking Financial Companies (NBFCs), and insurance providers across India. The company does not directly sanction, approve, disburse, or underwrite loans or credit facilities. All financial decisions are taken exclusively by third-party institutions based on their independent credit evaluation systems, internal risk policies, regulatory guidelines, and underwriting standards.
In consideration of professional consultation, documentation guidance, application coordination, and submission assistance provided by Kistwala.com, the company may charge a one-time service fee. This service charge is collected solely for the purpose of providing expert assistance and processing support. It is not a fee for loan approval, credit guarantee, or assured financial product sanction. The service charge is applicable once the applicant decides to proceed with the application process through our platform.
The one-time service charge paid to Kistwala.com is strictly non-refundable under all circumstances. Once the payment has been successfully processed, it shall not be reversed, refunded, canceled, or adjusted, irrespective of the outcome of the application. This includes, but is not limited to, situations where the loan application is rejected by the bank or NBFC, where the sanctioned amount is lower than expected, where interest rates differ from initial estimates, or where the applicant voluntarily withdraws from the process after submission.
Users must clearly understand that loan processing involves administrative time, professional resources, document review, eligibility consultation, and coordination with financial institutions. The service fee compensates for these efforts and resources utilized during the application handling process. Therefore, even if the final credit decision is unfavorable, the service charge remains non-refundable.
In addition to the service charge payable to Kistwala.com, partner banks or NBFCs may levy their own loan processing fees, administrative charges, documentation fees, stamp duty, insurance premiums, or other applicable charges. These charges are determined solely by the respective financial institution and are governed by their internal policies and regulatory compliance frameworks. In most cases, loan processing fees charged by banks or NBFCs are non-refundable, even if the loan application is declined after evaluation.
Kistwala.com has no control over the quantum, applicability, or refund policy of processing fees charged by banks or NBFCs. The company shall not be held liable for the refund of any fee, charge, or amount paid directly to a financial institution. Applicants are strongly advised to carefully review the terms and conditions of the concerned bank or NBFC before proceeding with payment of any processing fee.
Processing fees charged by financial institutions may vary depending on the type of product applied for. For example, personal loans may carry a certain percentage of the sanctioned amount as processing fee; business loans may involve additional documentation and verification charges; credit cards may include joining fees or annual fees; and insurance products may involve premium payments and underwriting charges. These fees are entirely independent of Kistwala.com’s service charge.
Applicants acknowledge that processing fees paid to banks or NBFCs do not guarantee loan disbursement. Even after payment of such fees, final approval remains subject to document verification, credit bureau assessment, risk evaluation, and internal approval hierarchy of the institution. In the event of rejection after payment of processing fee, the refund policy of the concerned institution shall apply, and Kistwala.com shall not be responsible for any refund claims related to such fees.
Users must also understand that loan approval depends on various factors including credit score, repayment history, EMI bounce record, income eligibility, employment stability, existing liabilities, documentation accuracy, and compliance with internal underwriting policies. If an applicant has a low CIBIL score, previous loan settlement, written-off account, irregular EMI payments, or adverse credit remarks, the chances of rejection increase. Such rejection shall not create any liability on Kistwala.com to refund the service charge.
Furthermore, Kistwala.com shall not be liable for any financial loss, opportunity cost, delay in sanction, change in approved amount, change in interest rate, change in tenure, or modification of terms imposed by the bank or NBFC. All such decisions are taken solely by the financial institution.
If an applicant chooses to discontinue the process after submission of documents or after forwarding the application to the bank, the service charge shall remain non-refundable. The company invests time and resources in application handling once the process begins, and therefore cancellation by the applicant does not entitle them to any refund.
In cases of duplicate payment due to technical error, the applicant may notify the company by writing to support@kistwala.com with proof of transaction. Such cases will be reviewed at the sole discretion of the company. If a duplicate payment is verified, the extra amount may be refunded after deducting applicable transaction charges. This exception applies only to genuine duplicate transactions and not to dissatisfaction with application outcomes.
Kistwala.com reserves the right to revise its service charges, modify fee structure, or update this policy at any time without prior notice. Any changes shall become effective immediately upon publication on the website. Continued use of services after such changes constitutes acceptance of the revised terms.
This Loan Processing and Fee Policy shall be governed by and interpreted in accordance with the laws of India. Any disputes arising in connection with this policy shall be subject to the exclusive jurisdiction of the competent courts located in Narsinghpur M.P. , India.
For any queries regarding processing fees or service charges, users may contact support@kistwala.com.