Refund & Cancellation
Our transparent policy regarding online payment adjustments, share equity redemption, and deposit cancellations at Swabhiman Pawan Nidhi Limited.
Last Updated: May 20, 2026
At Swabhiman Pawan Nidhi Limited, we strive to maintain complete transparency in all financial operations. As a mutual benefit financial institution, we follow precise guidelines for online transaction errors, deposit scheme premature liquidations, and shareholder share equity redemptions.
1. Failed Online Transactions & Erroneous Transfers
If you make an online transfer to pay share capital, open a deposit account, or pay loan interest:
- Debited but Not Credited: If your registered account is debited but the payment does not reflect in our portal within 24 hours, it will generally be rolled back by your financial institution automatically.
- Refund Process: In cases where the funds reach our accounts but the system fails to allocate them to your ledger, we will manually verify the financial transaction reference and credit the amount to your Nidhi account, or refund it back to your source account within 7 to 10 working days.
- Proof of Transfer: Members should email a copy of the transaction receipt showing the UTR reference number to our support desk for expedited settlement.
2. Membership Share Surrender and Redemption
Under the Companies Act and Nidhi Rules, share capital cannot be traded on open stock exchanges but can be surrendered to the company:
- Members who wish to cancel their membership and redeem their share capital must submit a physical Share Surrender Form at their home branch.
- Redemption is subject to the clearing of all outstanding loan dues and checking joint account liabilities.
- The face value of the approved equity shares will be refunded to the member's registered account within 30 days of the request approval.
3. Premature Liquidation of Deposits
Fixed Deposits (FD) and Recurring Deposits (RD) are intended to remain locked until maturity. If you request a premature closure:
- Within 3 Months: No interest will be paid. Only the principal amount will be refunded.
- Between 3 to 6 Months: Interest will be paid at the basic savings account interest rate, without compounding benefits.
- After 6 Months: Interest will be paid at a rate reduced by 2% from the original agreed-upon interest rate for the duration the deposit actually remained with the company.
- Refunded amounts will be transferred directly to the member's linked savings account.
4. Non-Refundability of Loan Processing & Appraisal Fees
To evaluate secure loan applications, physical appraisals and legal verifications are required:
- The gold appraisal fee paid to our third-party certified valuer is 100% non-refundable, regardless of whether the gold loan is subsequently approved or rejected.
- Legal verification fees and property appraisal charges for mortgage loans are non-refundable once the physical check has been initiated.
5. Dispute Settlement Contact
For any queries or assistance related to refunds, please feel free to reach our billing desk:
Desk: Payment & Settlements Department
Email: accounts@gmail.com
Helpdesk Number: +91 9987020848