Privacy Policy

VSD FINSERV PRIVATE LIMITED (“MyBankLoan.ai” website and its Mobile App) recognizes the importance of maintaining your privacy.

Mybankloan.ai is committed to maintain the confidentiality, integrity and security of all information of its users. This Privacy Policy describes how MyBankLoan.ai collects and handles certain information it may collect and/or receive from you via the use of this Website. This Privacy Policy applies to current and former visitors to our website. By visiting and/or using our website, you are accepting and consenting to the practices described in this Privacy Policy.Your consent will be stored in our system for record purpose.

By using or continuing to use the Website you agree to our use of your information (including sensitive personal information as defined under the Information Technology Act, applicable rules, notification etc.) in accordance with this Privacy Policy, as may be amended from time to time by the Website in its discretion.

We respect your privacy. You are advised to please read the Privacy Policy carefully. By accessing the services provided by MBL, you agree to the collection and use of your data by MBL and you are authorizing us & our associate partners to give you a call, SMS, IVR, or WhatsApp to offer you their services for the product you have opted for, imparting product knowledge, offering promotional offers running on website & offers offered by the associated financial institutes and partners. You also authorize us to give you a call, SMS, IVR or WhatsApp from Mybankloan& its associate partners for the above-mentioned purposes, the consent also overrides your current TRAI registrations.

Personal Information - What do we Gather?

The information we take from customers helps us personalize and continually improve your experience on the Website/App. Here are the sample types of information we gather.

• We receive and store any information you enter on our App/Website or give us in any other way. You can choose not to provide certain information but then you might not be able to take advantage of many of our services and features. We neither collect nor store your biometric information.
• We receive and store certain types of information whenever you interact with us. For example, we use "cookies" and we obtain certain types of information when your web browser accesses the Website or advertisements and other content served by or on behalf of the Website on other websites. We may also receive/store information about your location and your mobile device, including a unique identifier for your device.
• We may also have one time access to your camera, microphone, location and mobile device and store such information only for the purpose of onboarding or KYC requirements of us or our Partner with your explicit consent. in accordance with the Digital Lending guidelines issued by RBI and as amended from time to time.
• We might receive information about you from other sources and add it to our account information.
• Whenever a user receives and complies to the OTP authentication request, the log reports of the session are retained by us until the account is not deactivated.
• We collect and retain information that you provide on our website, through other means, or as required by the product or service you have selected. This may include personal details like your name, email address, date of birth, and city of residence. While you may choose to withhold certain information, this may impact your ability to fully access our services and features. Please note, we do not collect or retain biometric information.

Personal Information-How do we use it?

MBL collects your information when you register for a user account, when you use its products or services or visit its website’s pages/mobile app. When you register with MBL, you are asked for your Full Name, Email address and Mobile Number. Once you register at the Website/App and sign in you are not anonymous to us. Also, you are asked for your contact number during registration and may be sent SMS, notifications about our services to your wireless device. Hence, by registering you authorize MBL (including its business partners and affiliates) to send texts and email alerts to you with your login details and any other service requirements, including promotional mails and SMS, even if you have registered yourself under DND or DNC or NCPR services. Your authorization shall be valid as long as your account is not deactivated.

We use your information in order to:

• Assist our business partners in facilitating and delivering services to you, process your applications, communicate with you about products, services and promotional offers.
• Respond to queries, or requests submitted by you, and resolve your grievances/issues/problems with any services supplied to you.
• Administer or otherwise carry out our obligations in relation to any agreement with our business partners.
• Send you information about special promotions or offers. We might also tell you about new features or products/services. These might be our own offers or products/services, or third-party offers or products/services with whom MBL has a business association.
• Use your information for internal analysis and to provide you with location-based services, such as advertising, search results, and other personalized content.
• Use this information to improve our platform, prevent or detect fraud or abuses of our Website/App and enable third parties to carry out technical, logistical or other functions on our behalf. We may combine information we get from you with information about you we get from third parties.
• Send you notices, communications, and recommend services that might be of interest to you, update our records and generally maintain your accounts with us, display content and customer reviews.
• As otherwise provided in this Privacy Policy.

Some features of this Website or our Services will require you to furnish your personally identifiable information as provided by you under your account section on our Website.

You also agree and consent to us for collecting, storing, processing, transferring and sharing information (including sensitive personal information) related to you with third parties or service providers for the purposes as set out in this Privacy Policy.

Your consent for the loan application is valid for 180 days from the date of loan application. We may send your application to our partners for the required product during the consented period.

Disclosures: Information Sharing:

MBL will not sell or rent or otherwise disclose your information for commercial purposes to anyone in a way that is contrary to the commitments made and/or other than as set in this Privacy Policy. However, we may share your information with third parties, such as our group companies, employees, agents, business partners (including banks, financial institution and NBFCs), Credit Information Companies (CICs), Service Providers with whom we have partnerships, and any affiliates, for purposes described within this Privacy Policy. MBL may also share, sell, and/or transfer your personally identifiable information to any successor-in-interest as a result of a sale of any part of MBL business or upon the merger, reorganization, or consolidation of it with another entity on a basis that it is not the surviving entity. For the purposes of this paragraph, "affiliate" means any person, company, or MBL directly, or indirectly through one or more intermediaries, that controls, is controlled by or is under common control with MBL (The term "control," as used in the preceding sentence, shall mean with respect to any person, the possession, directly or indirectly, of the power, through the exercise of voting rights, contractual rights or otherwise, to direct or cause the direction of the management or policies of the controlled person. As used in this Privacy Policy, the term "Person" includes any natural person, corporation, partnership, limited liability company, trust, unincorporated association, or any other entity).

We limit the collection and use of your personal information. We may make anonymous or aggregate personal information and disclose such data only in a non-personally identifiable manner. Such information does not identify you individually. Access to your Account information and any other personally identifiable information is strictly restricted and used only in accordance with specific internal procedures, and for the purposes set out in this Privacy Policy, in order to operate, develop or improve our services. We may use third party service providers to enable providing you with our services and we require such third parties to maintain the confidentiality of the information we provide to them, under our contracts with them.

We may also share your information, without obtaining your prior written consent, with government agencies mandated under the law to obtain information for the purpose of verification of identity, or for prevention, detection, investigation including cyber incidents, prosecution, and punishment of offences, or where disclosure is necessary for compliance of a legal obligation.

Link to other websites:

Our website sometimes has links to other websites. These websites do not operate under this Privacy Policy and have their own privacy policies. We encourage you to review their privacy policies when you visit such websites. We are not responsible for the content of privacy practices of such websites.

How long do we retain user data?

Currently, we plan to retain user data while an account is active and for at least 3 years thereafter. We may alter this practice according to legal and business requirements. For example, we may lengthen the retention period for some data if needed to comply with law or voluntary codes of conduct. Unless otherwise prohibited, we may shorten the retention period for some types of data if needed to free up storage space.

Your Consent:

By accessing this website and by providing your information you consent to the collection and use of the information you disclose on the website in accordance with this Privacy Policy.

How we secure your Information:

We work to protect the security of your information during transmission by using appropriate software, which encrypts information you input. We follow generally accepted industry standards to protect the Personal Information submitted to us and information that we have accessed.

Third Party Advertising:

We use third-party advertising companies to serve ads when you visit our website. These companies may use your information (not including your name, address, email address, or telephone number) about your visits to this and other websites in order to provide advertisements about goods and services of interest to you.

Changes to this Privacy Policy:

We reserve the right to update, change or modify this Policy at any time. The Policy shall come into effect from the date of such update, change, or modification.

Disclaimer:

MBL does not store any account-related information or any credit/debit card details. MBL shall not be liable for any loss or damage sustained by reason of any disclosure (inadvertent or otherwise) of any information concerning the user's account and/or information relating to or regarding online transactions using credit cards / debit cards and/or their verification process and particulars nor for any error, omission or inaccuracy with respect to any information so disclosed and used whether or not in pursuance of a legal process or otherwise.

Grievance Officer:

In accordance with Information Technology Act 2000 and rules made there under, the name and contact details of the Grievance Officer is published herewith: Name: Mr. Shantilal Jani Phone: +91-1234567890 Email: customercare@mybankloan.ai Time: Mon - Sat (9:00 - 18:00)