Please read these terms carefully before using our platform and loan services. Your use constitutes acceptance.
Effective: January 2024 www.iqfin.in GDPR Compliant
Section 01
Introduction
This Privacy Policy ("Policy") outlines the data practices of our online platform IQFIN ("we" or "us") concerning the collection, use, processing, and disclosure of personal data provided by you when you access and use our services on www.iqfin.in.
The services offered through the Platform are collectively referred to as "Services." At IQFIN, we are dedicated to safeguarding your personal data and respecting your privacy.
By granting us consent to process your personal data, you acknowledge that we will collect, store, use, and disclose your personal data as outlined in this Policy. It is important to carefully read this Policy to understand how we handle your personal data.
Section 02
Personal Data We Collect
We collect, transmit, and store limited personal data on our secure IQFIN server, with your consent, to provide you with the Services. This includes the following categories:
Identity & Profile DataName, date of birth, gender, photo, educational qualifications, employment status, company name, contact info, and marital status.
KYC DocumentsGovernment-issued IDs such as Aadhaar, PAN card, voter ID, and other authority-issued identification.
Transaction DataDetails of transactions through the Platform or in connection with the Services — including services sought or availed.
SMS DataWith your permission, SMS data to verify and analyze your financial position, cash flow, credits, income, and spending pattern.
Financial DataPast credit history, income details, loan details, payments, repayments, bank account details, and bank statements.
Device & App DataIP addresses, browser types, time zone, operating system, device info, and package names of installed applications for creditworthiness assessment.
We do not access contact lists, call logs, telephony functions, files, or biometric data. Camera, microphone, or location access is requested solely for onboarding or KYC checks with your explicit consent.
Section 03
How We Collect Data
Information You ProvideData you consent to provide during registration, while using Platform features, sharing data, or when reporting issues. We keep records of correspondence.
Information Collected AutomaticallyEach time you visit the Platform, we automatically collect personal data through tools like cookies and tracking technologies.
Information from Third PartiesWe receive personal data from third parties and publicly available sources, including Google Analytics for advertising and user analytics purposes.
We have no control over personal data you choose to make publicly available (reviews, comments, messages). We are not responsible for third-party misuse of such publicly shared data.
Section 04
Use of Personal Data
We use your personal data in compliance with applicable laws. Primary purposes include providing Services and fulfilling legal obligations. By creating an account, you authorize us, our associates, and affiliates to contact you through email, phone, or other means.
User Registration
Providing Services
Loan Applications
Relationship Mgmt
Platform Protection
Communications
Trend Monitoring
Business Improvement
Enforce Terms
Marketing Services
Legal Compliance
Service Alerts
Section 05
Sharing Your Personal Data
We may share your information with third parties — such as Lenders, storage providers, data analytics providers, consultants, lawyers, and auditors — after obtaining your explicit consent, solely to provide Services including loan applications.
Way2Bank Loan provides loan services via its Website, Mobile App, and other services. We collect information via promotion through different channels like SMS, WhatsApp, Emails, etc.
We may share data when required by law, a court, government agency, or authority, in good faith, to enforce this Policy and comply with applicable laws and regulations. Failure to provide consent may affect our ability to provide certain Services.
Section 06
Access & Updating Your Data
You are responsible for ensuring the accuracy of the personal data you provide to us. We provide means for you to review and correct inaccurate or incomplete data at any time through the Platform.
We will verify the accuracy of any new personal data you provide to maintain the integrity and reliability of information held on our systems.
Section 07
Data Security
We implement security measures and access controls to protect your personal data from unauthorized access, following technology standards prescribed by applicable law. Your financial data is stored exclusively in India.
Data Localization: Your data, including financial data, is stored exclusively in India, and we will not transfer your personal data to third countries under any circumstance.
Section 08
Data Retention & Destruction
For details on data retention and destruction practices, please refer to the schedule attached to this Policy. We retain your personal data only for as long as necessary to fulfill the purposes for which it was collected, including satisfying any legal, accounting, or reporting requirements.
Upon expiry of the retention period, your personal data will be securely destroyed or anonymized in accordance with applicable data protection laws.
Section 09
Your Legal Rights
We will facilitate your request to exercise these rights in compliance with data processing laws. To exercise any right, email our Grievance Officer as detailed in Section 15, providing specific information about the rights you wish to exercise.
Right to Erasure
Request deletion or removal of your personal data, subject to applicable laws and loan terms.
Right to Rectification
Request correction of inaccurate or incomplete personal data held about you.
Right to Portability
Request a copy of your personal data in a structured, machine-readable format.
Right to Object
Object to processing of your personal data for direct marketing or other purposes.
Section 10
Cookies & Tracking
Cookies and tracking technologies are used to enhance your experience and improve our Services. Cookies do not provide access to personal data such as email addresses.
You may encounter cookies or similar technologies placed by third parties on certain Platform pages, which we do not control. You can configure your browser settings to refuse cookies; however, this may limit certain features of the Platform.
Section 11–14
Business Transitions & Policy Changes
Business Transitions: In the event of a business transition like a merger or acquisition, your personal data may be transferred as part of the business assets. You will be notified of any such transfer.
Third-Party Links: Our Services may contain links to third-party websites governed by their own privacy policies. We are not responsible for the policies or data collected by these third parties.
Policy Updates: We regularly review and may amend this Policy at our discretion. Any changes will be posted on this page and, when appropriate, notified to you through email or SMS. Continued use of the Platform constitutes acceptance of the revised Policy.
Contact Us
Questions? Reach Out
If you have any questions about these Terms & Conditions or wish to exercise your legal rights, please contact our Grievance Officer:
