Vector Finance Private Limited
(Vectorblink Digital Lending Platform)
1. Introduction
This Refund & Cancellation Policy (“Policy”) is issued by Vector Finance Private Limited (“Company”), operating the digital lending platform Vectorblink (“App/Website”). This Policy is prepared in accordance with the Reserve Bank of India’s Digital Lending Directions and applies to all borrowers availing loan services through our platform.
2. Key Fact Statement (KFS)
Prior to loan sanction, every borrower will receive a Key Fact Statement (KFS) containing complete details of the loan:
- Loan amount
- Annual Percentage Rate (APR)
- Tenure
- Processing fee and other charges (if any)
- Repayment schedule
- Cooling‑off period
- Contact details of the Grievance Redressal Officer
Only the charges disclosed in the KFS will be levied.
3. Cooling‑Off / Look‑Up Period
As per RBI guidelines, borrowers are provided a mandatory cooling‑off period during which they may exit the loan without penalty.
- The cooling‑off period shall not be less than one (1) day.
- During this period, the borrower may cancel/exit the loan by repaying the principal amount disbursed plus proportionate interest (APR), if applicable.
- No penalty or additional charge will be applied for exiting during this period.
- Only the processing fee, if clearly disclosed in the KFS, may be retained by the Company.
4. Refund Policy During Cooling‑Off
If the borrower exits the loan within the cooling‑off period:
- Any amount collected upfront (other than the disclosed processing fee) will be refunded.
- Refunds will be processed to the borrower’s registered bank account.
- Refunds will be initiated within 7 – 15 working days from the date of request approval.
5. Refunds After Cooling‑Off Period
After the cooling‑off period ends:
- Borrowers may prepay or foreclose the loan as per the terms stated in the loan agreement and KFS.
- Any excess payment received will be refunded to the borrower or adjusted against outstanding dues.
- Refund initiation for excess payments will follow a 7 – 15 working day timeline.
6. Disbursement & Repayment Compliance
As per RBI regulations:
- Loan disbursement shall be made only to the borrower’s bank account.
- Repayments must be made directly to the Company’s designated bank account.
- No third‑party or intermediary accounts will be used for disbursement or repayment.
7. Charges & Fees
- No charges besides those disclosed in the KFS shall be collected.
- Fees payable to Lending Service Providers (LSPs), if any, will not be charged to the borrower.
- There are no hidden charges or undisclosed deductions.
8. Grievance Redressal & Refund Requests
Borrowers may raise refund-related requests or grievances through the following contact:
Grievance Redressal Officer (GRO):
Name: Priyanshu Gupta
Address: ASO 502, 5th floor, south block, Astra Towers, Action Area IIC, Newtown, New Town, West Bengal 700161
Email: grievance@vectorfinance.com
Contact: 1800 889 1002
Working Hours: Mon–Sat, 10:00 am–7:00 pm IST
Complaints will be acknowledged promptly and resolved within 30 days. If unresolved, the borrower may approach the Reserve Bank of India’s Complaint Management System (CMS).
9. Documentation & Record Sharing
All loan-related documents – including KFS, loan agreement, sanction letter, repayment schedule, and this Policy – will be provided digitally to the borrower via email/SMS.
10. Policy Amendments
Vector Finance Private Limited reserves the right to modify or update this Policy in accordance with regulatory changes. Any updates will be published on the official website vectorblink.com.
11. Contact Information
For refund, cancellation, or policy‑related queries, borrowers may contact:
Registered Office: K 7/110, Ground floor, Kalinga Vihar, Ghatikia BDA Plotted Scheme, P.S. Khandagiri, Bhubaneswar, Odisha 751029
Support Email: customercare@vectorfinance.in
Contact: 1800 889 1002
Working Hours: Mon–Fri, 9:00 AM – 6:00 PM IST
Grievance Email: grievance@vectorfinance.com
Website: vectorblink.com