Credmax Loan-Personal Loan
Privacy Policy
This Privacy Policy is an integral part of Credmax Loan-Personal Loan's commitment to protecting and preserving the personal data and information of our platform users. It outlines our practices and measures to ensure the security and confidentiality of your information.
Introduction
Thank you for choosing Credmax Loan-Personal Loan (the “Application”). We highly value your privacy and are dedicated to safeguarding your personal information. By using the Application, you agree to the collection, use, and sharing of your information as outlined in this Privacy Agreement. This document explains how we process your data to provide you with a secure and reliable service experience.
This Privacy Policy constitutes a legally binding agreement between you and Credmax Loan-Personal Loan. Its terms take effect immediately upon your acceptance of using our services. This document outlines the principles and practices governing the management and processing of personal information for users of the Credmax Loan-Personal Loan platform (“Users”). We recognize that you provide us with certain information to enable us to deliver our services. In return, we are committed to maintaining the confidentiality of your information and adhering to the terms set forth in this Privacy Policy.
We recognize the importance of protecting your personal information and transparency in the way that we collect, use, store, transfer/disclose, and dispose of information derived from your use of our products, services, online portals, and mobile applications.
Collection of Information
Personally Identifiable Information
Personally Identifiable Information refers to data that can uniquely identify an individual. This includes but is not limited to, your name, password, age, civil status, gender, mailing address, email address, telephone number, mobile number, income, employment details, financial information, credit information, image, and other personal details. Additionally, we classify personal information and sensitive personal information, as defined under the Data Privacy Act of 2012, as personally identifiable information.
We collect personally identifiable information when you apply for our services or register an account on our mobile applications and online platforms. This information may be requested through our website, mobile apps, Point-of-Sale (POS) devices, or paper application forms.
Mobile Device Data & Mobile App Permissions
In addition to the personally identifiable information defined above, Credmax Loan-Personal Loan may also process the following data through your use of the mobile app: mobile device data or other identifiers, location data, phone data, and mobile app usage data such as traffic volume, crash logs, diagnostics, page views, and taps.
The Credmax Loan-Personal Loan mobile application may also request, with your prior consent, that you enable specific app permissions, including access to your App List, Calendar, GPS, SMS, Device Information, Phone Number (including two emergency contacts)and Image. These permissions are necessary for fraud prevention, and security, and to determine your eligibility for Credmax Loan-Personal Loan’s products and services. Additionally, we may request permission to send you push notifications regarding your account or the mobile app.
A general description of the mobile app’s behaviour can be found in the permissions module of your mobile device. If you wish to modify our access or permissions, you may do so through your device’s settings. You may deactivate the permissions requested by the Credmax Loan-Personal Loan mobile app after applying for our services. However, please note that certain features or resources designed to enhance security or usability may not function properly or may result in a degraded experience.
The mobile application’s processing of personal information and metadata aligns with the purposes outlined in this privacy notice.
App List
We may request access to your App List to enhance the security and accuracy of our services. By analyzing the applications installed on your device, we can better assess potential risks, prevent fraudulent activities, and ensure the integrity of our platform. This information also helps us tailor our services to your needs and improve your overall user experience. Rest assured, this data is used solely for these purposes and is handled in strict compliance with our privacy policy.
Calendar
To better manage your loan cycle and remind you of important repayment dates, we may access your calendar information. By integrating your calendar, we can set repayment reminders for you to ensure that you complete your loan repayments on time. In addition, the calendar information helps us analyze your financial cycle so that we can provide you with more flexible loan options and repayment arrangements. We are committed to taking appropriate security measures to protect your calendar data and to ensure that this information is only used to improve your user experience and quality of service. We will not use your calendar information for any other purpose or share it with third parties without your express consent.
GPS
To provide a more personalized and secure service experience, we may collect information about your GPS location. This information is used for several key purposes:
Security Verification: By verifying your geographic location, we can enhance the security of your account and prevent unauthorized access and fraud.Service Optimization: Using GPS data, we can provide customized services and features based on your location, ensuring that you receive the most relevant information and support.We are committed to processing all collected GPS information in strict compliance with privacy agreements and applicable data protection regulations. We will not use your GPS information for any other purpose or share it with third parties without your express consent.
SMS
We require access to your SMS in order to facilitate the verification process and improve the security of our services. This allows us to automatically retrieve verification codes sent via SMS, streamlining the verification process and preventing fraudulent activity. Access to your SMS also helps us ensure the accuracy of your account information and improves the overall efficiency of our platform.
Please note that we will only access financial related SMS messages and not the full volume of SMS messages, we do not access or store the content of your SMS messages and this data is only used for the purposes stated above and in strict compliance with our Privacy Policy.
Device Information
We collect information about your device, such as device model, operating system, unique device identifier, and hardware details to ensure compatibility, security, and optimal performance of our Services. This information helps us identify and prevent fraudulent activity, improve the stability of our platform, and provide you with a seamless user experience. In addition, we can use this information to troubleshoot technical problems and continuously improve our services. Your device information will be treated securely and used only for the purposes described in this Privacy Policy.
Phone Number (including two emergency contacts)
We require access to your phone number to improve the security and reliability of our services. Your phone number is used for authentication, account verification, and communications related to your account or transactions. We collect emergency contact information for additional security measures to contact a designated person in the event of an emergency or account-related issue.
We collect only 2 of your emergency contacts for identity verification, anti-fraud verification, and risk monitoring. You can select contacts from your address book (P.S. This gives you access to only the selected contacts in your address book, not the entire contact list). We handle this information with care and use it only for the purposes described in this Privacy Policy to ensure your security and the integrity of our services.
Image
We request access to your image to enhance the security and verification processes of our services. This allows us to verify your identity through facial recognition or image-based authentication, ensuring the accuracy and integrity of your account. Additionally, this helps us prevent fraudulent activities and maintain a secure platform for all users. Your image is handled with the utmost care and is used solely for the purposes outlined in this privacy policy.
Use of Personally Identifiable Information
Precise information about you enables us to deliver a seamless, efficient, and tailored experience. The personally identifiable information you provide will be utilized in accordance with the agreements you enter into with us for our services. In particular, the information gathered through the mobile application may be used for the following purposes.
a. to assess your eligibility for our products and services, including credit checks, scoring, automated loan application processing, and loan collections.
b. for setting up your user account in the Credmax Loan-Personal Loan app.
c. to enable features and functions within the mobile app.
d. to verify your identity and the information you've provided.
e. to detect and prevent fraud, money laundering, and other illegal activities.
f. to send you updates about Credmax Loan-Personal Loan, including product news, events, and promotions, with your consent. We won't share your personal info with third parties for marketing without your permission.
g. to provide customer service, and support, and resolve issues or complaints.
h. for data analytics and profiling to understand your needs and enhance our services.
Storage and Security of Personally Identifiable Information
The personally identifiable information you share with Credmax Loan-Personal Loan is securely stored in a database under our control. We have implemented reasonable and appropriate measures to safeguard the information you provide, including physical security controls, equipment safeguards, software protections, and advanced technical measures such as encryption. These measures are designed to prevent unauthorized access, use, or disclosure of your data. To ensure you benefit from the latest security features and enhancements, we recommend keeping your Credmax Loan-Personal Loan mobile application updated at all times.
Retention of Personally Identifiable Information
We retain your personally identifiable information for varying periods of time, sometimes for extended periods, due to operational business needs and legal requirements. Among the reasons we retain your personal data are:
(i) for the reasonable period necessary for us to deliver our services,
(ii) to meet legitimate business purposes,
(iii) when necessary for the establishment, exercise, or defense of any legal claim, and
(iv) to comply with retention periods provided by other laws governing “Credmax Loan-Personal Loan”
For example, even if you request to delete your account through the Credmax Loan-Personal Loan mobile app, we are required by the Anti-Money Laundering Act and its related regulations to retain transaction and customer records for at least five (5) years. If your account is involved in an ongoing legal case, this retention period may be extended beyond five years. Additionally, relevant BIR Regulations mandate that we preserve electronic data, books of accounts, and other accounting records necessary for tax filing purposes for up to ten (10) years.
When determining how long we retain your information, we consider factors such as the duration of our relationship with you or the provision of our services, our legal obligations (as illustrated above), and any applicable statutes of limitations or legal positions we have taken.
Once the purposes for processing your information have been fulfilled, the relevant retention periods have expired, or we are no longer legally required to retain it, we will either delete, de-identify, or anonymize your personal information. If immediate deletion is not feasible, we will securely store your personal information and isolate it from further processing until it can be safely deleted.
Disclosure and Transfers of Personally Identifiable Information
Credmax Loan-Personal Loan does not share any personally identifiable information with third parties except as described in this notice and in the Applicant Consent Form (ACF) signed by our customers. As outlined in your ACF, we may share your information with our partners, including government agencies, partner stores, utility companies, remittance companies, insurance providers, financial service providers, courier service providers, payment processors, merchandise warehouses, fulfilment services, and other service providers. This sharing is limited to the extent necessary to deliver the services you have consented to or signed up for.
Credmax Loan-Personal Loan may also disclose personally identifiable information to comply with court orders or other legal obligations requiring such disclosure. In the event of a reorganization, sale, or merger, we may transfer personally identifiable information to the relevant third party, obtaining user consent when required by law.
Additionally, Credmax Loan-Personal Loan may share anonymous data, whether aggregated or not, with third parties. We ensure that such data cannot be used to identify individual customers or users.
Persons under the Age of 18
Credmax Loan-Personal Loan does not knowingly collect personally identifiable information from individuals under the age of 18. We encourage parents to advise their children never to share personal information online. If parents are concerned about their children's personal information being shared, they are encouraged to contact us.
Data Subject Rights
Under the Data Privacy Act, you have the following rights: the right to be informed, the right to object, the right to access, the right to rectification, the right to erasure or blocking, the right to damages, and the right to file a complaint.
If you wish to exercise any of these rights, please feel free to contact us. However, please note that these rights are subject to certain limitations. We may decline requests that are excessively repetitive, require disproportionate technical effort, conflict with the public interest, compromise the privacy of others, or are impractical or unreasonable to fulfil.
Contact Credmax Loan-Personal Loan’s Data Protection Officer (DPO)
“Support” Indias’ Data Protection Officer provides support for any data privacy-related inquiries or complaints. You may contact “Credmax Loan-Personal Loan” DPO through the following information:
Email address: info@credmaxloan.com
Individuals with inquiries or complaints regarding our privacy practices should first contact our DPO. Our DPO will always make reasonable efforts to address and settle any requests or complaints that are brought to our attention.
What are your Data Privacy Information Rights?
You have the following rights regarding your personal data:
Right to Request Special Privacy Protections: You can ask us to limit how we use or share your personal data by sending a written request. If you tell us not to share certain information, we'll follow your instructions unless we have to by law or for treatment. We might accept or reject other requests and will let you know our decision.
Right to Inspect and Copy: You can ask to see and get a copy of your personal data, except in certain cases. To do this, send a written request specifying what you want to see or copy and how you want to receive it. We'll give you the information in the format you ask for if we can. If not, we'll offer another format you agree to. If we can't agree and the record is electronic, you can choose between an electronic or paper copy. We can also send it to someone you name in writing. There might be a fee to cover our costs. We might deny your request in some cases. If we deny it because we think it could harm you, you have the right to appeal.
Right to Request Confidential Communications: You can ask us to send your personal data in a certain way or to a certain place, like a specific email address or your work address. We will follow all reasonable written requests that tell us how or where you want to get these communications.
Right to Amend or Supplement: If you think your personal data is wrong or incomplete, you can ask us to change it. To do this, you need to send us a written request explaining why the information is not right. We might say no if we don't have the information, didn't create it if we can't see or copy it, or if we think it's already correct. Any details about your request to change the information will be kept and shared with any future disclosures of the disputed information.
Right to Revoke Authorization: Your permission is needed for “Credmax Loan-Personal Loan” to collect and process your personal data. You can take back your permission at any time. Just so you know, this won't affect any processing that “Credmax Loan-Personal Loan” has already done based on your original permission.
Right to Erasure or Blocking. You have the right to suspend, withdraw, or order the blocking, removal, or destruction of your personal data. You can exercise this right upon discovery and substantial proof of any of the following:
a. Your personal data is incomplete, outdated, false, or unlawfully obtained.
b. It is being used for purposes you did not authorize.
c. The data is no longer necessary for the purposes for which they were collected.
d. You decided to withdraw consent or object to the processing, and there is no overriding legal ground for the processing.
e. The data concerns information prejudicial to the customer — unless justified by freedom of speech, of expression, or the press, or otherwise authorized by law.
f. The processing is unlawful.
g. “Credmax Loan-Personal Loan” or its personal information processor/s, violated your rights as a customer.
Right to Be Notified of a Breach:
You have the right to be informed of any breaches involving your personal data, as required by law. This ensures that Credmax Loan-Personal Loan promptly notifies you if your personal data has been compromised. If you have provided us with a current email address, we may use it to communicate details regarding the breach.
Right to a Paper or Electronic Copy of this Notice:
You have the right to be informed of our legal obligations and privacy practices regarding your personal data. This includes the right to receive a paper copy of this Privacy Notice, even if you have previously agreed to receive it electronically.
How Does “Credmax Loan-Personal Loan” Collect, Use, Transfer or Disclose, Retain, and Dispose Your Personal Data?
Credmax Loan-Personal Loan collects personal information about you and stores it in electronic records or computer systems. To the extent reasonably necessary to achieve the relevant purpose, we may use or disclose your personal data for the following:
Payment Processing: We use and disclose personal information about you to other providers, affiliate companies, parent companies, or vendors associated with Credmax Loan-Personal Loan to facilitate payment for our services.
Payment Reminders: We may use and disclose your personal data to contact you and remind you about upcoming or overdue payments. If you are unavailable, we may leave this information on your answering machine or with the person who answers the phone.
Research: Your personal information may be used and disclosed for research purposes, but only after it has been approved through a specific review process designed to protect your confidentiality. Researchers may access identifiable information only through this review process or with your explicit written consent. Additionally, your personal records may be used for data analytics to generate customer demographics and trends. However, these reports are designed to anonymize customer identities to ensure privacy.
Marketing: We may use your contact details to communicate with you and provide information about products, promotions, or services related to your loan applications or other offerings from Credmax Loan-Personal Loan, its affiliate companies, parent companies, or business partners that may interest you. We may also contact you to ensure customer satisfaction, address concerns, and resolve any issues related to the services provided.
Required by Law: We will use and disclose your personal data as required by law, limiting such use or disclosure to what is necessary to comply with legal obligations. This includes reporting abuse, neglect, domestic violence, responding to judicial or administrative proceedings, or cooperating with law enforcement officials. We will adhere to specific legal requirements in these situations. Additionally, we may disclose your personal data to oversight agencies for activities authorized by law, such as audits, investigations, inspections, and licensure.
Law Enforcement. We may, and are sometimes required by law to, disclose your personal data to a law enforcement official for purposes such as identifying or locating a suspect, fugitive, material witness, or missing person, complying with a court order, warrant, subpoena, and other law enforcement purposes.
Other Uses and Disclosures: If “Credmax Loan-Personal Loan” wants to use or disclose your personal data for a purpose that is not discussed in this Privacy Notice, “Credmax Loan-Personal Loan” will ask for your written consent.