Mandate Cancellation

Facility for cancellation of mandate


In compliance with the NPCI circular bearing No. NPCI/2020-21/NACH/Circular No.013 dated September 11, 2020, as amended, it is informed as under:


The borrowers of Bizloan Private Limited (“Bizloan”) shall have an option to get one or more of their existing mandates cancelled in the following situations:


  1. Change of bank account
  2. Loan closure
  3. Multiple mandates
  4. Any other valid reason, to be explained


Borrowers needing the above facility, shall have the option to email to [email protected] clearly mentioning the following particulars: 1) Applicant Name, 2) Sanction Reference Number or Loan Account Number, 3) Details of Mandate to be Cancelled, 4) Reason for Cancellation. Upon receiving the request as above, the same shall be taken up for further processing. 


In case of non-closure of the request within 15 working days, kindly contact at [email protected].