At GRD Finance, we strive to deliver transparent and customer-centric financial services. This Foreclosures and Cancellations Policy outlines the terms, conditions, and charges applicable when a borrower chooses to foreclose or cancel a loan facility.

1. Definitions

Foreclosure: Early repayment of the outstanding loan amount before the contracted loan tenure ends.
Cancellation: Termination of the loan agreement before disbursement or during processing, at the request of the borrower.

2. Foreclosure Policy

1. A borrower may request foreclosure of a loan at any time during the tenure, subject to terms and conditions of the loan agreement.
2. Foreclosure requests must be submitted in writing or through authorized channels of GRD Finance.
3. Foreclosure will be accepted only if all past due amounts (if any) are fully paid.

3. Foreclosure Charges

1. Foreclosure charges, if applicable, will be calculated in accordance with the loan agreement and regulatory guidelines.
2. Charges may vary depending on the type of product and outstanding tenure at the time of foreclosure.
3. All foreclosure fees must be paid in full at the time of settlement.

4. Interest Recalculation

Upon foreclosure of the loan, interest will be recalculated on the actual utilization of the credit facility up to the date of repayment. Any excess interest collected in advance will be adjusted or refunded as per the loan agreement and applicable regulations.

5. Loan Cancellation Policy

1. Loan cancellation may be requested by the borrower before disbursement.
2. Cancellation requests must be made in writing and supported by valid identification.
3. Processing fees, documentation charges, and other administrative fees already collected may not be fully refundable.

6. Refunds

Refunds due to cancellation or foreclosure (where applicable) will be processed within the stipulated timelines and in accordance with the loan agreement, subject to verification and compliance checks.

7. How to Initiate Foreclosure or Cancellation

To initiate a foreclosure or cancellation request, customers may:
• Visit the nearest GRD Finance branch
• Contact customer support at info@grd.finance
• Call our service hotline: +91-9147759581

8. Grievance Redressal

If you have concerns or disputes related to foreclosure or cancellation charges, please contact our Grievance Redressal Officer at grievance@grdfinance.com. Unresolved matters may be escalated to the RBI Integrated Ombudsman Scheme.

9. Disclaimer

The terms and conditions described in this policy are subject to change in accordance with applicable laws, regulations, and internal policy updates. All changes will be communicated through our official website and customer communication channels.