Your loan or insurance application is rejected by the partner bank, NBFC, or insurer after payment of processing fees or premiums.
Fidfly, the registered tradename of Indaaz Innovations Pvt. Ltd. (hereinafter referred to as "Fidfly," "the Company," "we," "us," or "our"), operates as a financial service aggregator platform facilitating loan and insurance services through partnered banks, non-banking financial companies (NBFCs), and insurance providers in India. We are committed to ensuring transparency and fairness in all financial transactions, including refunds for eligible cases. This Refund Policy outlines the conditions, procedures, and timelines for processing refunds on the Fidfly platform.
Fidfly does not directly charge users for accessing the platform; however, our partner banks, NBFCs, or insurance providers may collect processing fees, service charges, or premiums through Fidfly as part of the application process. This policy applies to any person ("User") who initiates, intends to initiate, or inquires about any service(s) offered through Fidfly's customer interface channels, including our website, mobile site, mobile app, and offline channels such as sales agents, call centers, and offices (collectively referred to as "Sales Channels"). For the purpose of this policy, "Website" refers to Fidfly's website(s), mobile site(s), and mobile app(s).
By using or accessing our Website or other Sales Channels, you agree to the terms of this Refund Policy. If you do not agree, please refrain from using our services. This policy is an integral part of your User Agreement with Fidfly, and all capitalized terms not defined herein shall have the meanings ascribed to them in the User Agreement.
Refunds may be issued in the following scenarios, subject to verification by Fidfly and the relevant third-party partner:
Your loan or insurance application is rejected by the partner bank, NBFC, or insurer after payment of processing fees or premiums.
A technical error on Fidfly's platform results in duplicate payments or overcharges.
A service is not delivered due to a system failure or error attributable to Fidfly.
Cancellation of an application before approval, where the partner's policy permits a refund of fees paid.
Refunds are subject to the terms and conditions of the respective partner bank, NBFC, or insurer. Fidfly acts as a facilitator and will coordinate with the partner to process eligible refunds, but the final decision on refund eligibility rests with the partner.
The following charges are not eligible for refunds, as they are governed by the policies of our third-party partners or service providers:
Processing or administrative fees charged by banks, NBFCs, or insurance providers, unless explicitly stated as refundable by the partner.
Convenience fees, transaction fees, or service charges levied by payment gateways or third-party processors.
Payments related to applications where funds have been disbursed or an insurance policy has been issued, unless permitted by the partner's policy.
Fees for services partially or fully rendered by the partner before cancellation.
We recommend reviewing the terms and conditions of the selected partner at the time of application to understand their refund policies, as these may vary.
To request a refund, follow these steps:
If your refund request is rejected due to ineligibility under the partner's policy, Fidfly will notify you with a detailed explanation and, where applicable, guide you on alternative steps, such as contacting the partner directly.
The refund process follows these timelines:
Verification: Within 48 hours of receiving your refund request.
Processing: 7-10 business days after approval, depending on the partner and banking system.
Crediting to Account: May take additional time (3-5 business days) depending on your bank or card issuer.
Fidfly initiates refunds promptly upon approval, but delays caused by banks, NBFCs, insurers, or payment gateways are beyond our control. We will keep you informed of the refund status via email or SMS.
For users outside India, refund requests are processed in accordance with this policy and applicable local laws, including the Digital Personal Data Protection Act (DPDP Act) 2023 and DPDP Rules 2025 for data-related aspects. For users in the European Union, we ensure compliance with the General Data Protection Regulation (GDPR), including transparency in refund processing and the right to access or delete related personal data. For users in California, we adhere to the California Consumer Privacy Act (CCPA) regarding data handling during refunds.
If you wish to request a refund and withdraw consent for data processing related to your application, email [email protected]. Note that withdrawing consent may limit our ability to process your refund or provide further services, as data processing may be essential for coordinating with third-party partners.
While Fidfly initiates approved refunds immediately, the time taken for the amount to reflect in your account depends on the processing timelines of your bank, card issuer, or payment gateway. Typical delays may range from 3-5 business days for domestic transactions and longer for international transactions. Fidfly is not liable for delays caused by third-party financial institutions or payment processors.
If you do not receive your refund within the expected timeline, please contact our support team with your refund reference number, and we will coordinate with the relevant parties to resolve the issue.
If you encounter issues with a refund, such as rejection or delays by a third-party partner, Fidfly's support team will assist in coordinating with the partner to resolve the matter. However, disputes arising from third-party policies are subject to their resolution mechanisms. Fidfly will provide reasonable assistance but is not responsible for the final outcome of such disputes.
For disputes related to Fidfly's refund process, please contact our support team at [email protected]. We aim to address all concerns promptly and fairly, ensuring compliance with applicable regulations.
Requesting or receiving a refund does not affect your Fidfly account status or your ability to submit future applications, unless otherwise specified by a third-party partner due to their policies (e.g., restrictions on reapplying). Personal information associated with the refunded application will be retained in accordance with our Privacy Policy and applicable data protection laws.
If you wish to delete personal information related to a refunded application, you may request this by emailing [email protected]. Certain data may be retained to comply with legal, regulatory, or audit requirements.
Fidfly collaborates with banks, NBFCs, insurance providers, and payment gateways to facilitate services and process payments. When a refund is requested, Fidfly will notify the relevant partner to process the refund, subject to their policies. The partner's ability to issue a refund depends on their internal procedures and the stage of the application process. Fidfly is not liable for any delays, rejections, or restrictions imposed by third-party partners.
We recommend reviewing the refund terms of the selected partner at the time of application to understand their policies, including any applicable fees or conditions.
Fidfly reserves the right to revise this Refund Policy to align with legal, business, or customer requirements. Any changes will be communicated to users via email, Website notifications, or other appropriate channels. We recommend reviewing this policy periodically to stay informed of updates. If you have concerns about changes to this policy, please contact us at [email protected].
Fidfly ensures that its refund processes comply with applicable Indian laws, including the Digital Personal Data Protection Act (DPDP Act) 2023 and DPDP Rules 2025, as well as international regulations such as GDPR for EU users and CCPA for California users, where applicable. We are committed to protecting your rights and ensuring transparency in all refund-related activities.
For assistance with refunds or any related queries, please reach out to our support team:
Email: [email protected]
Call: +91-9608354790 (10 AM - 6 PM, Monday to Saturday)
Website: www.fidfly.com
Our support team is dedicated to assisting you with refund requests and ensuring a smooth experience. Please provide your Application ID, registered email, or phone number when contacting us to expedite the process.
Note: Fidfly acts as a facilitator, and refunds for partner fees are subject to their individual policies. This policy was last updated on November 10, 2025.
