Refund Policy

1. Who this applies to

These fee and refund provisions apply to individual and HUF clients who are not accredited investors (SEBI Master Circular for Research Analysts, para 1.9(d)). For non-individual clients and accredited investors, fees and refunds are governed by bilaterally agreed terms (para 1.9(e)).

2. Cancelling your subscription (pro-rata refund)

You may end the service at any time. If either you or Investology terminates the service early, you are refunded proportionate fees for the unexpired period, and no breakage, exit or cancellation fee is charged (SEBI Master Circular for RAs, para 1.9(g); MITC item 3).

Refund = Fee paid × Unexpired days ÷ Total days in the subscription period

Days are counted inclusively: the start date and the last day of your subscription both count as days of the subscription period. The termination date counts as the first unexpired day, so the day you cancel is refunded. If the service is terminated on or before the start date, you receive a full refund; after the last day, no refund is due.

If the service is not delivered for 7 or more consecutive trading days without notice, a pro-rata refund for the affected period is given. This is in addition to your right to a pro-rata refund on cancellation.

3. Worked example

4. If Investology’s registration is suspended or cancelled

In case of suspension of certificate of registration of the RA for more than 60 (sixty) days or cancellation of the RA registration, RA shall refund the fees, on a pro rata basis for the period from the effective date of cancellation/ suspension to end of the subscription period.

The refund runs pro rata from the effective date of the suspension or cancellation to the end of your subscription.

5. KYC could not be completed

Research access starts only after KYC and eSign are complete, and the onboarding portal is set up to take KYC before payment. If you have paid and your KYC is later rejected or put on hold and cannot be completed, no research service is rendered and you can request a refund of the fee paid.

6. Duplicate, excess or failed payments

The following are refunded in full: duplicate charges for the same subscription, any amount paid in excess of the fee, and payments debited where the purchase failed.

7. How refunds are paid

Refunds are paid only to the original banking channel or source account, through the payment gateway. Refunds are never paid in cash and never to a third-party account.

Refunds relate to fees only; investment losses are not compensated (MITC item 8).

8. How to request a cancellation or refund

Use our cancellation request page. It includes a refund estimator and gives you a reference ID.

Alternatively, email support@investology.in with the subject line “Cancellation / Refund Request – [Your Name]”. Include the email you used on the onboarding portal (ra.investology.in), your plan, the payment reference and the termination date you are requesting.

9. Refund timelines

Refund processing timeline: To be confirmed by Compliance Officer

The termination date used for the calculation is the date we receive your request, unless you asked for a later date.

10. If you are not satisfied

1. Contact us through our Grievance Redressal / Escalation Matrix.
2. If the resolution is unsatisfactory, lodge a complaint on SEBI SCORES 2.0: scores.sebi.gov.in (opens in new tab).
3. You may also use Online Dispute Resolution through the SMART ODR portal: smartodr.in (opens in new tab).

11. Related documents

• Terms and Conditions: clause 8, Termination of service and refund of fees
• Most Important Terms and Conditions (MITC)
• Complaints & Escalation