Please read the below policy before using the Credfin App
Credfin Services Private Limited, whose registered office is at 2nd Floor, Room No 204, H-4866/1, 24, Ansari Road, Daryaganj, New Delhi, Central Delhi, Delhi – 110002 (hereinafter referred to as “Credfin” or “Company” or “we” or “us”), is the owner of the mobile application named Credfin (“App”) and the website www.credfin.money (“Website”). The App and Website are collectively referred to as the “Platform”.
In order to process your loan requests and to ultimately provide a loan to you, we need to collect various data and information from you.
By visiting our website www.credfin.in or using the Platform, you agree to be bound by the terms and conditions of this Privacy Policy. By mere access to the Platform or any part thereof, you expressly consent to Credfin Services Private Limited’s use and disclosure of your personal information in accordance with this Privacy Policy.
This Privacy Policy is incorporated into and subject to the Terms of Use of the Platform. If you do not agree to this Policy or any part thereof, please do not use or access our Platform.
In accordance with the Information Technology Act, 2000 and the rules made thereunder, the details of the Grievance Officer are provided below:
Address: 2nd Floor, Room No 204, H-4866/1, 24, Ansari Road, Daryaganj, New Delhi, Central Delhi, Delhi – 110002
Email: support@credfin.money
When you use our Platform, we collect and store information provided by you from time to time. Our primary goal is to provide you with a safe, efficient, smooth, and customized experience.
You may browse the Website or App without revealing any personal information. However, to create an account or avail services, you must provide certain basic details.
The information collected includes, but is not limited to:
We only collect and store your profile picture and username when you log in using Gmail.
We may also collect identifiable information such as your last three months’ bank statements, salary details, and transaction history when you create an account or apply for loans. Failure to provide mandatory information may limit services available on the Platform.
We automatically track certain information based on your usage behavior on the Platform. This information is used for internal research, analytics, and service improvement.
This information may include:
We use cookies to enhance user experience. You may choose to decline cookies through your browser settings; however, this may affect certain services.
We retain information as required to resolve disputes, provide customer support, and comply with legal obligations.
The information collected by the App depends on the permissions you grant on your device. When you install the App, information is associated with unique device identifiers.
The data collected from your device may include:
This information is used to enhance security, prevent unauthorized access, provide automatic updates, and improve user experience.
| S. NO. | Permission Name | What data is collected | How the data is used |
|---|---|---|---|
| 1. | Camera related permissions | Permission to access the camera is required so that requisite KYC documents can be easily scanned or captured and thus saving time by allowing us to auto-fill relevant data. This will ensure that you are provided with a seamless experience while using our application. | We use the data provided by using camera to analyze your creditworthiness, loan eligibility, check KYC documents, and the terms of your loans.. |
| 2. | Storage related Permissions | Storage permission is required so that your KYC and other relevant documents can be securely downloaded and saved to your phone. These KYC documents can then be easily uploaded for faster completion of your loan application and disbursal. This will help us to ensure that you undergo a seamless experience on our application. You will not be able to use the App if you disable this access. | We use this permission to securely download and save documents to your mobile device so that they can then be easily uploaded for faster completion of your loan application |
| 3. | Location related permission | Location-related permissions is collected when it is enabled from your mobile device and this permission is required to assess the serviceability of your loan application. We collect this data when our App is running in the background of your mobile device. You will not be able to use the App if you disable the location services. | We use this data taken by granting this permission for verifying the address and undertaking a continuous credit risk assessment. It will expedite the completion of your ICC process along with facilitating better credit access to the customers. It will also help in strengthening security against any unauthorized access to your account. This permission will also be used for providing better customer service and providing Customized offers. |
| 4. | Phone related permissions | We collect and store your hardware model, build model, RAM Storage, Unique device identifiers like IMEI, serial number, SSAIO, SIM information that includes network operators/rooming state, MNC and MCC Codes WIFI information that includes MAC Address and mobile network information. You will not be able to use the App if you disable this access. | The data collected here is used for Research and Development, for enabling Marketing and Outreach, to uniquely identify the devices and to ensure that no unauthorized device acts on your behalf which will help us in preventing frauds. This also helps in enriching your credit profile and assessing your creditworthiness. |
| 5. | SMS related permissions | When you grant us access to SMS, we collect all the SMS data present on your mobile device. All the data collected with SMS access are stored to Credfin servers and we do not share this data with any third-party. This data is used as a part of internal assessment only. This data may be collected even when the app is not in use. You will not be able to use the App if you disable this access. | The data collected here is used for loan processing and it enables our team to assess credit worthiness, credit risk and detect any fraud in a better manner resulting in speedy disbursal. |
| 6. | Installed Application related permissions | We collect and store each installed applications' metadata information which includes the application name, package name, installed time, updated time, version name, and version code of each installed application on your device. You will not be able to use the App if you disable this access. | We use the data colleced here to assess your creditworthiness and provide you with pre-approved customized loan offers. |
| 7. | User Personal Information related permissions | We collect and store user account data which includes email address and user public profile information like name or photo depending on the platform (Google) used by you to login to the app. | This information is required as a part of the registration process and to access our service and is also used to auto-populate relevant fields in the course of our opp interface. Our app also collects your mobile number for verification to check the active SIM status of the device, uniquely identify you, and prevent fraud and unauthorized access. |
| 8. | Contact Permission | When you enable us access to your mobile device's address book, we can use the names and contact information to send invitations and assess your phone usage and habits. As part of the App journey, we access your phonebook contacts, including their contact names, phone numbers, account kinds, favourites (starred), and contact labels, to enrich your profile. We utilise this information to determine your social network based on your phonebook contacts, identify fraudulent contacts in your network, and conduct promotional and marketing activities. This helps us detect fraud and reduce risk. | Enabling the App and its Services; Marketing and Outreach; Automated Decisions; and Legal Compliance and Requirements. |
Please note that a few data points collected are mandatory for building a comprehensive credit risk assessment and credit profile. Such data shall be securely shared with our registered service providers, affiliates, and partners. All data collected through the permissions mentioned above are stored on Credfin servers and are used as part of the assessment process.
We use personal information to provide the services you request, customize your user experience, and improve our services. Where we intend to use your personal information for marketing purposes, you will be provided with an option to opt-out.
Your personal information may be used to:
We use the information provided by you in the following ways:
We will use and retain your information for such periods as necessary to provide services on our Application, to comply with legal obligations, resolve disputes, and enforce agreements.
We may share your information with third parties, including regulated financial partners, for providing services and facilitating loans. Disclosure may occur in the following circumstances:
If we use or disclose your information for purposes not specified above, we will obtain your explicit consent.
Our Website/Application is built with strict security measures to protect your information from loss, misuse, or unauthorized access. We use SSL-based encryption for data transmission as required under Indian law.
The Website and Application have been audited by a CERT-In auditor, XIARCH SOLUTIONS PVT LTD, and certified for:
Additional safeguards include:
Your information is stored on servers located in India. We comply with applicable data protection laws, including the Information Technology Act, 2000.
We address formal written complaints promptly and cooperate with regulatory authorities where required.
We may enquire with one or more Credit Bureaus on behalf of an NBFC to determine loan eligibility and amount.
Users may opt out of receiving non-essential promotional communications after account setup.
To remove your data, follow the steps below:
Our Website may contain links to external sites. We are not responsible for the privacy practices or content of such websites. Please review their privacy policies separately.
We do not advertise on our Website or Application.
By using the Website/Application or providing your information, you consent to the collection, use, sharing, and disclosure of your information as described in this Privacy Policy.
Any changes to this Privacy Policy will be posted on this page to keep you informed.