Cooling-Off Period

If your loan has been disbursed within the cooling-off period, you have the option to exit the loan by paying only the principal amount along with proportionate APR (if applicable), without any penalty.

- For TC Loan, the cooling-off period is 1 day from the date of disbursement (D+1).

For example, if a loan is disbursed on 18th May 2024:
- For TC Loan, it can be cancelled till 19th May 2024.

To opt for cancellation, please write to us at cs@truecredits.in

This provision of loan cancellation allows customers to cancel the loan within the defined cooling-off period from the date of disbursement:

1 day (D+1) for TC Loan

However, if you want to cancel the loan after this period, it will not be possible.

No, canceling your loan within the cooling-off period will not affect your bureau score.

No, you do not incur any costs if you cancel a loan during the cooling off period but you may be asked to pay a proportionate APR which also includes interest for the period you had loan amount with you. For updated details, please refer to the loan documents like Key Fact Sheet (KFS), Loan Sanction Letter, Loan Disbursal Letter etc. shared with you by the respective lender.