Refund Policy for Hospitals

Procedure

1. Initial Intimation:
   1. The borrower requests the hospital to stop the medical treatment/sessions for which the loan was taken. The borrower either does not wish to continue or start the treatment or requests loan cancellation.
   2. Alternatively, the borrower requests ZeroPe (Mukut) to cancel the loan.
2. Confirmation:
   1. The hospital informs ZeroPe (Mukut) about the case after following its usual protocol or may choose not to if the case is deemed not genuine.
   2. ZeroPe (Mukut) contacts the hospital, which further confirms or rejects the case after its usual protocol.
3. Google Form Submission:

   ZeroPe (Mukut) shares a Google Form (Refund Case) with the borrower, keeping the hospital in the loop.

   Google Form Link

4. Form Completion:

   The borrower fills out the form.

5. Verification:

   ZeroPe (Mukut) verifies the information provided with the hospital and cross-checks internally.

6. Service Amount:

   The hospital shares the amount equivalent to the services availed by the borrower.

7. Payment by Borrower:

   The borrower pays the requested amount to the hospital and shares a screenshot or receipt with the hospital.

8. Hospital Verification:

   The hospital verifies the payment with its bank.

9. Credit Note:

   ZeroPe (Mukut) issues a pre-credit note document to the hospital containing refund amount calculations based on the attached document. The hospital then transfers the refund amount to ZeroPe's collection account:

   Account Details:

   • Bank Name: Yes Bank
   • Account Number: 023281300000811
   • Branch and IFSC Code: Rajendra Place, New Delhi, YESB0000232
10. Hospital Transfer:

    The hospital transfers the refund amount and shares a screenshot or receipt with ZeroPe (Mukut).

11. Transaction Verification:

    ZeroPe (Mukut) verifies the transaction and releases the EMI amount paid by the borrower.

12. NOC Issuance:

    ZeroPe (Mukut) issues a No Objection Certificate (NOC) to the borrower within 10 days.

13. Credit Note Issuance:

    ZeroPe (Mukut) issues a credit note to the hospital (if required) within 10 days.

Refund Amount Calculations:

1. Refund Within 30 Days of Loan Disbursement:

   Subvention charges: ZeroPe (Mukut) will charge 0 subvention fees. The hospital will only need to repay the disbursed amount.

   Example: For a loan of ₹10,000 with a subvention charge of 5% + 18% GST (₹590), the hospital must repay ₹9410. Also the credit note will be issued against the subvention fee from ZeroPe (Mukut) end to hospital.

2. Refund Between 30 to 90 Days:

   Subvention charges: Proportionate subvention charges will be applied.

   Example: For a ₹10,000 loan with a subvention charge of ₹590 over 183 days (6 months), refunded after 45 days:

   • Subvention = ₹590 * 45/183 = ₹145.08
   • Amount = ₹10,000 - ₹590 + ₹145.08 = ₹9555.08
3. Refund After 90 Days:

   Subvention charges: 100% subvention charges will be applied.

   Example: For a ₹10,000 loan with a subvention charge of ₹590, the hospital must repay ₹10,000.

Communication and Dispute Resolution:

Customers can contact ZeroPe's support team for refund-related queries or disputes.

Disputes unresolved through customer support can be escalated to Rohit.

Timeline for Refund Processing

Refunds for valid claims will be processed between the 16th and 1st of any month from the date ZeroPe receives the refunded amount from the hospital.

Customers will be notified at every step of the process.

For Borrower

Hi [Name],

Thank you for completing the refund form.

ZeroPe (Mukut Finvest & Properties Private Limited) is committed to keeping all stakeholders informed at every step. To ensure transparency, please find below the detailed procedure for processing refund requests:

1. The borrower requests the hospital to stop the medical treatment/sessions for which the loan was taken. Alternatively, the borrower requests ZeroPe (Mukut) to cancel the loan.
2. The hospital informs ZeroPe (Mukut) about the case following its protocol.
3. ZeroPe (Mukut) shares a Google Form (Refund Case) with the borrower, keeping the hospital in the loop.
4. The borrower fills out the form.
5. ZeroPe (Mukut) verifies the information with the hospital and internally cross-checks.
6. The hospital shares the amount for the services availed by the borrower.
7. The borrower pays the requested amount to the hospital and shares proof of payment.
8. The hospital verifies the payment with its bank and requests ZeroPe (Mukut) to release the borrower's paid EMIs.
9. ZeroPe (Mukut) releases the refund amount to the borrower.
10. ZeroPe (Mukut) issues an NOC to the borrower within 10 days.

If you have further queries, please do not hesitate to contact us.

Best regards,
ZeroPe Support Team