Privacy Policy — IndiaLoans | How We Protect Your Data

Effective Date: 1st January 2025
Last Updated: 1st January 2025

This Privacy Policy describes how Credilab Micro Finance Private Limited ("IndiaLoans", "we", "us", or "our") collects, uses, shares, and protects your personal information when you use our website at indialoans.net and related mobile applications and services.

By using IndiaLoans, you agree to the collection and use of information as described in this policy. Please read this carefully before using our platform.

1. Information We Collect

We collect the following types of information:

Personal Identification Information

Full name, date of birth, gender
PAN card number, Aadhaar number (masked)
Mobile number, email address
Current and permanent residential address

Financial Information

Monthly income and employment details
Bank account details for disbursal
Credit score and credit history (fetched from credit bureaus with your consent)
Existing loan details and EMI obligations

Device & Usage Information

IP address, device type, browser type and version
Pages visited, time spent on pages, links clicked
Mobile device identifier (for app users)

2. How We Use Your Information

Your information is used for the following purposes:

Loan Processing: To evaluate your loan eligibility and match you with suitable lending partners.
Identity Verification: To verify your identity and prevent fraud or impersonation.
Credit Assessment: To fetch your credit score from authorised credit bureaus (CIBIL, Experian, CRIF) with your explicit consent.
Communication: To send you loan status updates, OTPs, promotional offers, and service notifications via SMS, email, and WhatsApp.
Customer Support: To resolve your queries, complaints, and provide assistance.
Legal Compliance: To comply with RBI guidelines, PMLA (Prevention of Money Laundering Act), and other applicable laws.
Analytics: To improve our services, personalise your experience, and conduct internal research.

3. Information Sharing

We share your information only in the following circumstances:

Lending Partners: We share your application details with our network of 85+ banks and NBFCs solely to process your loan application. All our lending partners are RBI-regulated entities.
Credit Bureaus: We share necessary information with CIBIL, Experian, or CRIF to fetch your credit report (only with your consent).
Service Providers: We share data with KYC verification providers, cloud service providers, and technology partners who assist in operating our platform — all under strict confidentiality agreements.
Legal Requirements: We may disclose information to law enforcement or regulatory authorities if required by law, court order, or government mandate.

We do NOT sell your personal data to any third party for marketing purposes.

4. Data Security

We take the security of your data extremely seriously:

All data is encrypted in transit using 256-bit SSL/TLS encryption.
Sensitive data (Aadhaar, bank account) is stored in encrypted form with access restricted to authorised personnel only.
We conduct regular security audits and vulnerability assessments.
Our infrastructure is hosted on ISO 27001-certified cloud servers.
We follow RBI's IT and Cybersecurity Framework for NBFCs.

5. Cookies

We use cookies to enhance your experience on our website. Cookies help us remember your preferences, analyse traffic, and personalise content. You can disable cookies through your browser settings, but some features of our website may not function correctly without them.

We use the following types of cookies:

Essential Cookies: Required for the website to function (login sessions, security).
Analytics Cookies: Help us understand how visitors use our site (Google Analytics).
Marketing Cookies: Used to show relevant advertisements on third-party platforms.

6. Your Rights

You have the following rights regarding your personal data:

Right to Access: Request a copy of the personal information we hold about you.
Right to Correction: Request correction of inaccurate or incomplete data.
Right to Deletion: Request deletion of your data, subject to legal retention requirements.
Right to Withdraw Consent: Withdraw your consent for data processing at any time (note: this may affect your ability to use our services).
Right to Grievance Redressal: Raise a complaint about data handling with our Grievance Officer.

To exercise these rights, email us at privacy@indialoans.net

7. Data Retention

We retain your personal data for as long as necessary to provide our services and comply with legal obligations. Typically:

Loan application data: Retained for 8 years post loan closure (as required by RBI)
KYC documents: Retained for 5 years post account closure (as required by PMLA)
Marketing data: Deleted upon withdrawal of consent or after 3 years of inactivity

8. Children's Privacy

Our services are not intended for persons under 18 years of age. We do not knowingly collect information from minors. If you believe we have inadvertently collected information from a minor, please contact us immediately.

9. Changes to This Policy

We may update this Privacy Policy from time to time to reflect changes in our practices or applicable laws. We will notify you of significant changes via email or a prominent notice on our website. Your continued use of our services after such changes constitutes your acceptance of the updated policy.

10. Grievance Officer

In accordance with the Information Technology Act 2000 and the rules made thereunder, if you have any grievances regarding our privacy practices, please contact our Grievance Officer:

Name: Grievance Officer, IndiaLoans
Company: Credilab Micro Finance Private Limited
Email: grievance@indialoans.net
Phone: +91-80-1234-5678
Address: 123 Financial Hub, Koramangala, Bengaluru, Karnataka 560034
Hours: Monday to Friday, 10:00 AM to 6:00 PM IST

We will respond to all grievances within 30 days of receipt.