Our Commitment to Financial Transparency

At Sai Gold OGL, transparency is at the heart of everything we do. Accordingly, our Refund Policy clearly explains when a refund may be applicable, how it will be processed, and the steps required to request one. In addition, we believe every customer deserves to know exactly where their money goes and to receive refunds promptly when needed.

No Upfront Fees: Our Standard Practice

Sai Gold OGL does not charge any booking, registration, or upfront processing fees through this website for loan facilitation. Our products, including Gold Loans, Silver Loans, Diamond Loans, Gold Loan Takeover, Gold Loan Top Up, and Gold Loan Release Sell, are processed directly through our branches or authorised financial partners.

As a result, in most cases, no payment is made through this website that would require a refund. However, in the rare event that a payment has been made and a refund is applicable, we are committed to processing it fairly, promptly, and without unnecessary delay.

When Is a Refund Applicable?

Refunds at Sai Gold OGL are applicable only under the following specific circumstances:

1. Duplicate Payment

If a customer accidentally makes the same payment more than once due to a technical glitch, network issue, or manual error, the duplicate amount will be identified and refunded in full. Accordingly, customers are encouraged to report such incidents promptly to ensure quick resolution.

2. Payment for an Unfulfilled Value Added Service

If a customer has paid for a value added service offered by Sai Gold OGL that was not delivered or fulfilled for any reason attributable to us, a full refund of the amount paid for that specific service will be initiated upon verification.

3. Overcharge Due to System or Human Error

If a customer is charged more than the amount communicated or agreed upon, whether due to a technical error or manual processing mistake, the excess amount will be identified and refunded promptly after internal verification.

4. Auction Surplus Refund

If a customer’s pledged gold ornaments are auctioned and the sale proceeds exceed the total outstanding loan dues, including principal, interest, penal charges, and auction expenses, the surplus amount is refunded to the customer. Furthermore, this refund is processed within 30 days of receiving the full auction proceeds, in line with Sai Gold OGL’s Auction Policy.

5. Excess Interest or Charge Collection

If, upon review or audit, it is determined that a customer has been charged interest or fees in excess of what is applicable under the sanctioned loan scheme, the excess amount will be reversed or refunded to the customer after due verification and approval.

Circumstances Where Refunds Are Not Applicable

To avoid any ambiguity, refunds will not be applicable under the following circumstances:

  • Interest paid on an active or closed gold loan, as per the agreed loan terms and scheme.
  • Penal charges levied for delayed repayment, as communicated upfront in the loan agreement.
  • Auction expenses deducted from sale proceeds in accordance with the Board approved Auction Policy.
  • Charges for services that were successfully rendered, including SMS alerts, documentation, or part release.
  • Additionally, payments voluntarily made by the customer towards loan closure, top up, or renewal.
  • Furthermore, any amount forfeited as per the terms mutually agreed upon at the time of loan sanction.

Refund Processing Timeline

Sai Gold OGL is committed to processing all eligible refunds without unnecessary delay. Accordingly, the timelines are as follows:

  • Duplicate payments and overcharges: Refunded within 7 to 10 working days from the date the claim is verified and approved.
  • Unfulfilled value added services: Similarly, refunded within 7 to 10 working days from the date the non fulfilment is confirmed.
  • Auction surplus: Furthermore, refunded within 30 days of receipt of full auction proceeds, as per the Auction Policy.
  • Excess interest or charge: Additionally, reversed or refunded within 10 working days from the date of internal approval.

In all cases, customers will be notified at every stage of the refund process, from acknowledgement of the request to final disbursement, through their registered mobile number or email address.

Refund Method

All eligible refunds will be processed through the following methods, in order of preference:

  • Bank Transfer (NEFT/RTGS/IMPS): Directly to the customer’s registered bank account, the preferred and fastest method.
  • Digital Payment Platforms: Via UPI-linked platforms such as GPay, PhonePe, or Paytm, where the customer’s mobile number is linked to a valid payment account.
  • Account Payee Cheque / Demand Draft: Sent by registered post to the customer’s last known address, in cases where electronic payment is not possible.
  • Cash Refund at Branch: For amounts up to ₹5,000, cash refunds may be processed at the branch upon the customer’s personal visit with valid identity proof and relevant documentation.

Refunds will always be made to the same payment method used for the original transaction wherever technically feasible. No refund will be made to a third-party account.

How to Request a Refund

If you believe you are eligible for a refund under any of the circumstances listed above, please follow these steps:

Step 1: Contact Us by Email

Send a refund request email to: info@saigoldogl.com

Step 2: Include the Following Details

  • Your full name
  • Registered mobile number
  • Loan account number (if applicable)
  • Date of transaction
  • Amount paid
  • Reason for the refund request
  • Any supporting documents such as payment receipts, bank statements, or screenshots

Step 3: Acknowledgement

Upon receipt of your refund request, Sai Gold OGL will send you an acknowledgement within 2 working days confirming that your request has been received and is under review.

Step 4: Verification and Processing

Our team will verify the details of your request against our internal records. If the refund is found to be valid, it will be processed within the applicable timeline as stated above. If additional information is required, we will reach out to you promptly.

Step 5: Escalation

If your refund request is not resolved to your satisfaction within 30 days of submission, you may escalate the matter to our Grievance Redressal Officer or to the RBI Ombudsman as detailed in our Grievance Redressal Policy.

Contact Us

For any questions or concerns regarding this Refund Policy, please do not hesitate to reach out to us:

  • Email: info@saigoldogl.com
  • Branch Visit: Walk into any Sai Gold OGL branch during business hours

We are committed to resolving every concern quickly, fairly, and with complete transparency.

Policy Review

This Refund Policy is reviewed periodically by the Board of Directors of Sai Gold OGL to ensure continued alignment with regulatory requirements and customer expectations. Accordingly, any updates to this policy will be reflected on this page with immediate effect.