OakLoan-personal loan app

Privacy Policy

This Privacy Policy forms part of Bengal Exim Scrips PRIVATE LIMITED's commitment to protecting and preserving the personal data and information of users of the OakLoan-personal loan app. It details how we collect, use, store and share your personal information while ensuring that it remains secure and confidential. By using our platform, you expressly consent to our processing of your personal data in accordance with this Privacy Policy.

Introduction

Thank you for choosing OakLoan-personal loan app (the “App”).

This Privacy Policy explains what information we collect from you, how we use it, and with whom we may share it. It covers all data gathered when you register for or interact with the App, our mobile applications, products, services, or any other channel through which you engage with us.

Please read this Policy carefully before accepting it.

By using the App’s services, you confirm that you have read, understood, and agreed to the collection of personal information from your device as described herein.

Definition

Unless otherwise defined, all capitalized terms used in this Privacy Agreement shall have the same meanings ascribed to them in our Terms of Use (as applicable).

Collection of Personal Information

We collect specific personal information from you, which may be provided directly by you—such as when you create an account to access the Service via the App or at any other time you share personal details with us. Additionally, this information may be obtained from third parties or automatically gathered when you interact with the App. The collection of such data can occur in various ways and serves multiple purposes, all in compliance with Applicable Law.When you choose to paste content when filling in information, we may access your clipboard content to facilitate pasting.

3.1 When you register the account

When you register for the Service, we will collect your information such as App List, GPS, SMS, Device Information, Phone Number (including two emergency contacts)and Image.

3.2 When you use the App or use our Website

Whenever you use the App or visit our Website, we may collect certain technical data concerning your usage such as, internet protocol (IP) address, information as web pages previously or subsequently viewed, duration of every visit/session, the internet device identity (ID) or media access control address, and also information regarding the manufacturer, model and operating system of the device that you use to access the App or our Website.

3.3 Collect information from third parties

To enhance our services, we collaborate with various third parties, including Credit Reference Agencies, financial institutions, mobile network operators, debt collection agencies, representatives, vendors, contractors, affiliates, and other entities. These partners may provide us with information about you, which we use solely for purposes related to our engagement or collaboration with them.

We take reasonable steps to ensure that these third parties have obtained your consent to share your Personal Information with us, in compliance with this Privacy Policy and applicable legal requirements.

3.4 Access other permissions with your consent

App List

To protect account security, assess credit risk and optimise service experience, we may collect information about the list of apps installed on your device (limited to basic data such as app name and version) after obtaining your authorisation. This information will be strictly used for necessary purposes such as identity authentication, anti-fraud detection and credit assessment. We promise not to read any personal data in the app and will not use the information for other purposes without your consent. You can turn off authorisation at any time through the device permission settings, but it may affect the use of some functions.

GPS

In order to provide accurate loan amount assessment and risk control services, we may obtain your GPS location information after your authorisation. This information is only used to verify your permanent residence, identify abnormal login behaviour and prevent fraud risks. We promise not to continuously track or abuse your location data, and will not share relevant information with third parties without your separate authorisation. All location data will be encrypted and securely stored in accordance with relevant laws and regulations.

SMS

To protect your account security and provide more convenient loan services, we may access your SMS permissions after your authorisation. This permission is only used to verify your identity information, automatically fill in SMS verification codes, and detect abnormal transactions. By collecting verification SMS related to financial management, such as transaction confirmation verification codes (sent by "OakLoan-personal loan app" or cooperative payment institutions), to verify the user-initiated financial operations (such as loan issuance or repayment).

We promise not to collect or store your SMS content and other private information. All data will be encrypted and kept strictly confidential.Note: We only collect financial related text messages.

Device Information

In order to provide safe and reliable services, this loan APP needs to collect your device information, including device model, operating system version, IP address, etc. This information will be used to protect account security, prevent illegal logins and fraud, and assess transaction risks and ensure the compliance and security of services. In addition, we will also optimise the interface and functions based on device information to enhance your user experience. We promise to use this information within the necessary scope and strictly abide by laws and regulations to protect your privacy.

Phone Number (including two emergency contacts)

To maintain secure lending services, we may access your device's phone number with your permission, solely for verifying your identity and protecting against fraudulent activities.

To ensure secure identity verification and fraud prevention, we only request access to 2 emergency contacts of your choice from your address book. Rest assured, our system will only access the specific contacts you manually select – we do not scan or store your full contact list.We adhere to strict data protection protocols, ensuring your information remains confidential and is never used beyond these specified purposes.

Image

We may request access to your device's image library with your explicit consent. This permission allows you to conveniently upload required documents (such as ID or proof of income) directly from your image library when submitting your application. All uploaded image are encrypted and processed securely in accordance with data protection regulations. You can revoke this permission at any time through your device settings, but revocation may limit your ability to upload files through the application.

Use of Personal Information

Identity Verification and Account Management: To identify you, register you as a user, and administer, manage, or verify your Account and your credit conditions.

Communication: To communicate with you and send you information related to the use of the App.

Pre-Registration Checks: To conduct any necessary checks before registering you as a user, at our discretion.

Loan Disbursement and Payment Collection: To disburse Loans and collect payments for your use of the Service.

Credit Assessment: To build credit models and perform credit scoring.

Contact via Phone or SMS: To reach out to you via telephone, using auto-dialled calls or pre-recorded messages, as well as text (SMS) messages (where permitted), in line with this Privacy Policy and the Terms of Use.

Compliance with Regulations: To comply with Applicable Laws, regulations, and rules, including “know-your-customer” and anti-money laundering requirements.

Marketing Communications: To send you direct marketing communications and information on special offers or promotions.

App Updates and Service Changes: To notify you of any updates to the App or changes to the Service (including interest rates, Transaction Fees, etc.).

Customer Support: To process and respond to inquiries and feedback received from you.

App Improvement: To maintain, develop, test, enhance, and personalize the App to meet your needs and preferences.

User Activity Monitoring: To monitor and analyze user activities and demographic data, including trends and usage of the Service available on the App.

Retention of Personal Information

We will retain your personal information only for as long as necessary to achieve the purposes described in this Privacy Policy, unless a longer retention period is required or permitted by law. While you have the right to request deletion of your data, please note that we may be obligated to retain certain information to comply with legal requirements, resolve disputes, enforce our agreements, or maintain security and fraud prevention systems. Any retained data will continue to be protected in accordance with this policy and will only be used for these legally permissible purposes. You may submit deletion requests through our designated channels, and we will process them in accordance with applicable laws and regulations.

Furthermore, we maintain Usage Data for internal analysis purposes. Generally, this data is stored for a shorter period, except in cases where it is used to improve the security or functionality of Our Service, or when legal requirements necessitate its retention for an extended duration.

Protection of Personal Information

We implement comprehensive physical, technical and administrative safeguards to protect your personal data against unauthorised access, alteration or destruction. All information you provide is stored on our highly secure servers that meet stringent industry standards. We continuously monitor and upgrade our security infrastructure, conducting regular system audits to maintain optimal protection levels.

While we employ state-of-the-art security measures, please understand that no digital transmission or storage method can be 100% secure. In the unlikely event of a data breach, we will promptly notify affected users and take all necessary steps to mitigate risks in accordance with applicable laws and regulations.

Transfer of Personal Information

Your data, including Personal Data, is processed at the Company's facilities and other locations where the relevant parties are based. This means your information may be transferred to and stored on servers in regions outside your state, province, or country, or beyond your local jurisdiction, where data protection laws may differ from those in your area.

By consenting to this Privacy Policy and submitting your information, you agree to this transfer.

The Company is dedicated to taking all necessary steps to ensure your data is handled securely and in accordance with this Privacy Policy. We will only transfer your Personal Data to another organization or country if we are confident that adequate safeguards are in place, especially regarding the protection of your data and other personal information.

Use of Cookies

To enhance your experience and improve our services, we utilise various data collection technologies, including cookies – small text files stored on your device when you use our platform. These cookies serve important functions such as maintaining your session information, preserving your preferred settings, securing the registration process, and generating aggregated analytics about platform usage. All cookie data is securely encrypted to prevent access by external parties.

Third Party Websites

Our Service might include connections to other websites and Apps that are not managed by Us. Clicking on such third-party links will take you to their respective sites. We have no control over and do not accept accountability for, the content, privacy policies, or practices of any third-party sites or services.

Marketing and Promotional Material

We may contact you with marketing and promotional messages through various channels, including postal mail, phone calls, SMS, email, online chat, or in-app push notifications. These communications are designed to inform you about exclusive benefits, promotions, or events offered by us, our partners, sponsors, or advertisers, as well as to provide updates on our App and the products and services available through it.

You can stop receiving these marketing communications at any time by using the "unsubscribe" link in the message or by contacting us using the contact details provided below.

Please note that opting out will not affect non-promotional messages, such as Loan disbursement or repayment receipts, or information about your Account or the App.

Limitations of Liability

You explicitly acknowledge and accept that we, encompassing our directors, officers, employees, representatives, or service providers, are not to be held responsible for any form of damages, whether they be direct, indirect, incidental, special, consequential, or punitive. This includes but is not limited to damages for the loss of revenue, reputation, utility, data, or other intangible assets (even if we were made aware of the potential for such damages), arising from:

Use or the inability to avail the Services.

Unauthorized access to or alteration of your Personal Information.

Inability to use the Platform.

Failure or delay in providing the Services or access to the Platform.

Any performance or non-performance by us.

Any damages to or viruses that may infect your electronic devices or other property as a result of your access to the Platform or your downloading of any content from the Platform and server failure or otherwise or in any way relating to the Services.

Changes to this Privacy Agreement

We may periodically revise this Privacy Policy to reflect changes in our services, legal obligations, or regulatory requirements. Any updates will be communicated through in-app notifications, website announcements, or via the email linked to your account. It is your responsibility to review the policy regularly to stay informed about how we handle your data. By continuing to use our services after any modifications take effect, you acknowledge and agree to the updated terms.

Contact Us

Our users' privacy is very important to us. We are committed to safeguarding the information entrusted to us and will continually update this policy to ensure that users’ rights regarding personal information are respected. If you have questions or comments about this Privacy Policy, please contact us at help@oakloan.com.