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Privacy Policy

Spark Financial Technologies Private Limited and its third-party service providers engaged to render certain services on the App (if applicable) (“Spark.loans”) are committed to upholding the privacy and security of the information supplied by every person (“User”/“You”) accessing and using any version of the Spark.loans application (“App”) on a compatible device. This privacy policy (“Privacy Policy”) briefly explains the manner in which Spark.loans collect, use, disclose and safeguard users information. Spark.loans store and process your information including any sensitive financial information collected as defined under the Information Technology Act, 2000 and Rules there under.

By accessing or using the App, you signify that you have read, understood and agree to be bound by this Privacy Policy. Spark.loans reserves the right to update or modify this Privacy Policy at any time without prior notice and such changes shall be effective immediately upon posting the updated or modified Privacy Policy on the Spark.loans website (www.spark.loans) and we shall not be bound to inform you of any modifications hereof. You will be deemed to have been made aware of, will be subject to, and will be deemed to have accepted the changes in any revised Privacy Policy by your continued use of the Website or the App after the date such revised Privacy Policy is updated or modified. For this reason, Spark.loans encourages you to review this Privacy Policy each time you access and use the App. Your use of the App and any disputes arising therefrom, is subject to this Privacy Policy as well as the Terms of Use.

Please read the Terms of Use on our website in order to obtain information on the terms governing the use of our App and our services.

I. Information Collected:

Spark.loans will collect personal information of the user. While some user information has to be mandatorily provided, others are optional and certain portions of the information will remain private and some will be displayed to other users; Spark.loans shall always obtain prior information from User of the information which is being provided to other users or shared with any third party user in the good faith that such disclosure is reasonably necessary for compliance of a legal obligation : enforce our Terms or Privacy Policy; respond to claims that an advertisement, posting or other content violates the rights of a third party; or protect the rights, property or personal safety of our users or the general public.

Additional information may be gathered during subsequent use of the App by the User, whenever the User chooses to provide it.

  • Certain mandatory information will be collected at the time of registration on the App which is required to enable the User to login to the App and for Spark.loans to: (i) verify the User’s identity; (ii) determine the User’s eligibility for taking loans using, inter alia, our proprietary technology and such additional rules that may be determined by: (a) Us ; (b) our banking partners; or (c) both (a) and (b); and (iii) safeguard against illegal activities like fraud, cheating, misappropriation, etc.

  • In order to use the facilities and services available on the App, the User may be required, from time to time, to provide certain additional personal information after registration on the App, which information shall be collected only upon receiving the User’s express consent.

  • Spark.loans may also automatically receive and collect certain anonymous information in standard usage logs through the web server, including mobile-identification information obtained from the equivalent of “cookies” sent to the App, including mobile network information, standard web log information, traffic to and from our App, tracking inside the App and any other available information, from:

    • an IP address, assigned to the device used by the User;

    • the domain server through which the User accesses the App and the functions and features therein; and

    • The type of device used by the User (“Device”).

  • The User may choose to provide Spark.loans with access to certain personal information stored by third parties like social networking sites (e.g. Facebook and Twitter). Spark.loans will have access to such information to the extent allowed by the User’s privacy settings on that site and the User’s specific authorization. In the event the User associates a User account managed by Spark.loans with an account maintained with any third party to enable Spark.loans to access certain information maintained in such third party managed accounts, the User agrees that Spark.loans may collect, store and use such information in accordance with this Privacy Policy.

  • After obtaining the User’s specific consent to allow the App to access the User’s SMS inbox, we may collect relevant information from text messages (SMS) received by the Users from providers of services and/or products (including but not limited to retail outlets, financial institutions, mobile carriers and utility companies), that will enable us to provide better access to financial services and products to the Users. Spark.loans will only access business messages that originate from alphanumeric senders.

  • In order to enhance our ability to provide valuable services and experiences to the User, Spark.loans may: (i) automatically receive, collect and analyse your location information which may be accessed through a variety of methods including, inter alia, GPS, IP address, and cell tower location; and (ii) collect information pertaining to your Device and your usage thereof, including, inter alia, the names of the other applications on your mobile Device and how you use them, information about your Device, and information about your use of features or functions on your Device.

  • Spark.loans may collect information with your consent from your mobile device like device location, device information (including storage, model, installed apps, WiFi, mobile network) transactional and promotional SMS, communication information including contacts to provide customized offerings.

  • Spark.loans may request access or permission to certain features from your mobile device, including your mobile device’s [Bluetooth, calendar, camera, contacts, microphone, reminders, sensors, SMS messages, social media accounts, storage,] and other features. If you wish to change our access or permissions, you may do so in your device’s settings.

  • Spark.loans may request to send you push notifications regarding your account or the Application. If you wish to opt-out from receiving these types of communications, you may turn them off in your device’s settings.

II. Method and manner of use of User information
  • When the User registers with the App, Spark.loans collects the accurate information about you which permits us to provide you with a smooth, efficient, and customized experience. We will use the information supplied by the User to pull a credit report from a credit bureaus and identity verification services to facilitate banks and other financial institutions to evaluate the User’s loan request in the context of the User’s complete financial situation.

  • Spark.loans will also use the User information to enable activities and transactions that need to occur during the process of lending, such as:

    • Generating and maintaining User profiles on the App;

    • Provide personalized features;

    • Aiding financial services organizations to provide better services;

    • Facilitating collection activities as needed;

    • Maintaining regular communications with the User concerning transactions the User initiates, such as requesting information or assistance, submitting a loan request, making payments, transferring funds, etc.

    • Modifying the App from time to time to cater to the User’s interests;

    • Providing the App and the functions and features therein, efficiently ;

    • Preserve social history as governed by existing law or policy;

  • You acknowledge that you are licensing Spark.loans to use, modify, display, distribute and create new material from the information you provide through the App to render certain services on the App. By providing such information, you automatically agree, or promise that the owner of such information has expressly agreed to allow or license, as the case may be, Spark.loans to use the information in the manner set out in this Privacy Policy, without the payment of any fees. Spark.loans may, to the extent permitted by law, also use, license, reproduce, distribute disclose, and aggregate, non-personally identifiable information that is derived through your use of the App and you hereby provide consent for the same.

III. Sharing Of Information

Spark.loans will not use User information for any purpose other than in connection with the App. Spark.loans will not rent, sell or share User information and will not disclose any of the User’s personally identifiable information to third parties, unless:

  • it is pursuant to obtaining the User’s permission;

  • it is in connection with disclosure to financial institutions and banks, in which case, the User hereby gives his express permission;

  • it is in connection with the services being rendered through the App;

  • it is to help investigate, prevent or take action regarding unlawful and illegal activities; suspected fraud, potential threat to the safety or security of any person, violations of Spark.loans’s Terms & Conditions, or as defence against legal claims;

  • it is a case of special circumstances such as compliance with court orders, requests/order, notices from legal authorities or law enforcement agencies compel us to make such disclosure; and

  • It forms part of the information Spark.loans shares with advertisers on an aggregate basis.

  • it violates the rights of a third party; or in the interest of protecting the rights, property or personal safety of our users or the general public

IV. Information security
  • Spark.loans uses administrative, technical, and physical security measures to help protect your personal information. While we have taken reasonable steps to secure the personal information you provide us, please be aware that despite our efforts, no security measures are perfect or impenetrable, and no method of data transmission can be guaranteed against any interception or other type of misuse.

  • The information provided by the User is stored in access controlled facilities with restricted access. User Information transmitted over the internet is protected through the use of encryption, using the Secure Socket Layer (SSL) or equivalent protocols.

  • If a password is used to help protect User accounts and account information, it is the responsibility of the User to keep the password confidential. You have to ensure that you always log out, before sharing the device with a third party and it is advised that the User utilize a service to protect access to the User’s Device.

  • Spark.loans shall use generally accepted industry standards to protect the User information submitted to us, both during transmission and upon receipt. However, please be advised that, no method of transmission over the Internet, or method of electronic storage, is 100% secure. Therefore, even though Spark.loans strives to use commercially acceptable means to protect User information, Spark.loans cannot guarantee its absolute security and your use of the App is at your sole risk and discretion. Spark.loans also cannot warrant that such User information may not be misused in the event our safeguards and protocols are breached by a malicious third-party. Further, Spark.loans is not liable to nor can we fully control the actions of other users with whom you may choose to share your information.

  • The collection, usage, and sharing of User information by Spark.loans shall be in compliance with the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 and other applicable laws.

V. Procedure For Removing User Name from the Records
  • If and when a User is desirous of having his/her name and other details removed from the records of Spark.loans, immediately upon receiving the User’s written request to that effect Spark.loans shall, subject to the terms hereof, remove and/delete all such information.

  • If the User no longer wishes to receive notifications about Spark.loans services, The User may change his/her notification preferences by contacting Spark.loans on ‘Contact us’ page of the app. Spark.loans reserves the right to close the User account if the User opts out of receiving certain crucial notices that are required to perform the Spark.loans services through its App. The User may not opt-out of receiving notifications about due or past due amounts that the User owes Spark.loans or any other collections efforts.

VI. Procedure For Correcting Inaccuracies In The Information

The User may correct or update any information online. In the event of loss of access details the User may retrieve the same or receive new access details by sending us a message on ‘Contact us’ page of the app.

VII. Indemnity:

You shall indemnify and hold harmless Application, its owner, licensee, affiliates, subsidiaries, group companies (as applicable) and their respective officers, directors, agents, and employees, from any claim or demand, or actions including reasonable attorneys' fees, made by any third party or penalty imposed due to or arising out of your breach of this privacy Policy and other terms of use, or Your violation of any law, rules or regulations or the rights of a third party.

VIII. Grievance Officer
  • In accordance with Information Technology Act, 2000 and rules made there under, the name and contact details of our Grievance Officer are provided below:

Name:

Ankit Jain

Address:

A 8, Narayan Plaza, 26A chandivali RD, Sakinaka Kurla, near chandivali studio, Mumbai-400072.

Email:

grievance@spark.loans