Refund & Cancellation Policy

Last Updated: June 2026

New Maa Ditya Co-Operative (Urban) Thrift & Credit Society Ltd. (NMD Society)

This Refund & Cancellation Policy governs payments made through the official website of New Maa Ditya Co-Operative (Urban) Thrift & Credit Society Ltd. (NMD Society).

By making any payment through our website, you agree to the terms outlined in this policy.

1. Membership Fees

All membership fees paid to NMD Society are non-refundable once the membership application has been submitted and processed.

Membership approval remains subject to the Society’s rules, bye-laws, and applicable regulations.

2. Deposits and Savings Contributions

Amounts deposited towards:

• Savings Accounts
• Fixed Deposit (FD) Schemes
• Recurring Deposit (RD) Schemes
• Share Capital Contributions
• Other Member Deposit Schemes

shall be governed by the applicable scheme rules and Society bye-laws.

Such deposits cannot be cancelled or refunded through the website once successfully processed. Withdrawals and maturity payments shall be made according to the respective scheme terms.

3. Loan Processing and Documentation Fees

Any loan application, processing, verification, or documentation fees paid to NMD Society are non-refundable, irrespective of whether the loan application is approved or rejected, unless otherwise specified in writing by the Society.

4. Duplicate Payments and Transaction Errors

In the event of:

• Duplicate payments
• Multiple deductions for the same transaction
• Successful deduction without confirmation of payment

the member may request a refund by submitting proof of payment.

After verification, the excess amount will be refunded to the original payment source.

5. Cancellation Requests

Any request for cancellation of an online payment must be submitted in writing to the Society.

Approval of cancellation requests shall be at the sole discretion of NMD Society and subject to applicable Society rules and financial regulations.

6. Refund Request Procedure

To request a refund, members should provide:

• Full Name
• Membership Number (if applicable)
• Transaction Reference Number
• Date of Payment
• Amount Paid
• Reason for Refund Request
• Supporting Payment Proof

Incomplete requests may result in delays or rejection of the refund application.

7. Refund Processing Time

Once a refund request is approved and verified, the refund shall be processed within 7 to 15 working days through the original mode of payment, subject to banking and payment gateway processing timelines.

NMD Society shall not be responsible for delays caused by banks, payment gateways, or financial institutions.

8. Non-Refundable Payments

The following payments are generally non-refundable:

• Membership Fees
• Processing Charges
• Documentation Charges
• Service Charges
• Late Payment Fees
• Penalty Charges
• Loan Application Fees

unless required by law or specifically approved by the Society.

9. Payment Gateway Transactions

All online payments are processed through secure third-party payment gateways.

NMD Society does not store debit card, credit card, banking, or UPI credentials.

Any disputes relating to unauthorized transactions should also be reported to the respective bank or payment service provider.

10. Changes to This Policy

NMD Society reserves the right to modify, update, or revise this Refund & Cancellation Policy at any time without prior notice.

Changes shall become effective immediately upon publication on the website.

11. Contact Us

For refund or cancellation-related queries, please contact:

New Maa Ditya Co-Operative (Urban) Thrift & Credit Society Ltd. (NMD Society)

NMD Society is committed to maintaining transparency, fairness, and member satisfaction in all financial transactions conducted through its website and services.