"Newchunka Loan" ("we" or "our") recognizes the importance of protecting personal details and information, and provides this Privacy Policy regarding the access to and use of our services. By submitting an application, you agree to be bound by the terms and conditions outlined below and automatically consent to the collection, use, storage, and analysis of your data. If you do not wish to be bound by these terms and conditions, you will not be able to access and use Newchunka Loan services.
Newchunka Loan is developed, operated, and maintained by NEWCHUNKA TECHNOLOGY PRIVATE LIMITED. The loan products are provided and managed by LOGWELL FINANCE PRIVATE LIMITED, a reputable Indian non-government private company. LOGWELL FINANCE PRIVATE LIMITED holds an NBFC (Non-Banking Financial Company) license registered and issued by the Reserve Bank of India (RBI), ensuring the legality and security of all loan products.
We collect the following information about you, which is essential for operating our business, enabling us to provide and improve our services, and offering you our new products. We may obtain the following information about you and the device you use to access the services:
You expressly consent to our collection of personal information that you provide, such as your name, address, phone number, email address, etc. We collect this personal information when you register and use our services on our platform.
a) Your name, address, date of birth, contact information (email ID and phone number), marital status, PAN number, bank name where you hold your primary account, bank statements, payslips, etc.;
b) Details about your employment, including years of work experience, income details, the name of your current employer, and office address details;
c) Credit-related information collected from sources such as CIC institutions;
d) Customer verification data, such as valid address proof, PAN Card, etc.;
e) Your unique identifiers, such as username and password, preference information, and transaction history;
f) Any other information required to be collected under specific authorization by the Reserve Bank of India or applicable Indian laws;
g) Electronic information from you, such as pages viewed, how you navigate the platform, and interactions with the platform.
The information collected from you helps us provide our services and personalize, maintain, and improve them.
a) Approximate Location
After you authorize location requests, we collect and monitor the approximate geographical location of your device. This information is used for automated risk assessment of loan applications, ensuring the security of user loan services, marketing activities, and assessing the serviceability of your loan application. We do not provide loan services to customers outside of India.
b) SMS
Collection of Financial SMS Information: With your consent, we will access your SMS list. This is necessary for the "Loan Verification" function; without SMS permissions, your loan application cannot pass our review. We do not collect personal SMS messages from your inbox but do collect financial SMS messages. This helps us identify the various accounts you hold and your cash flow patterns to determine your risk profile and provide appropriate credit analysis, enabling you to access financial services from us.
c) Camera
During the use of this service, we may request authorization to use your camera to capture photos for uploading KYC documents, PAN card, and performing biometric verification for security purposes.
d) Usage Data
We collect data about your interactions with our application services during use. This includes service access times, application crash logs, etc. This data is used for customer support, improving user experience, and performing fraud risk analysis.
e) Device Information
During service use after registration, we may collect device information, including your phone number, device name, model, regional and language settings, unique device identifiers, hardware and software information, status, usage habits, and unique device identifiers.
Use of User Information
By submitting information to Newchunka Loan, users expressly consent to the ways outlined in this policy for using their information. User information will be used for various purposes, including verifying user identity and enhancing platform user-friendliness, obtaining credit reports to assess loan/creditworthiness, providing loans and financial services through regulated entities, ensuring compliance with legal obligations such as KYC, anti-money laundering, and CKYRC requirements, and for fraud prevention and detection. Information may also be used to send users surveys and marketing information of interest, communicate with users about loans, financial services, third-party services, and offers, diagnose technical issues and provide support, send advertisements and promotional information, prepare and file reports to comply with legal requirements, understand user preferences and needs, enable users to participate in interactive platform features, improve platform integrity and services, and ensure compliance with all applicable laws.
Unless required by law or court/government orders, any information or data shared with third parties is disclosed under confidentiality agreements. These agreements restrict third parties to using the data solely for providing services to us and limit further disclosure, except for the purposes detailed in the agreement. We will share your information with third parties to facilitate financial services, such as disclosing to banks, NBFCs, NBFC-P2P platforms, and other regulated partners and lenders on the platform to fulfill the terms and conditions of services, disclosing to third-party service providers to perform relevant services, sharing information with third-party partners for data analysis, protecting us and users' security, including fraud prevention and credit risk reduction, sharing data with technology service providers and outsourcing partners for credit operations and customer checks, and sharing data with affiliates and group companies for data processing and analysis. Additionally, we may share information with merged or acquired business entities or for business restructuring purposes. All disclosures are made in accordance with applicable laws, and we will make efforts to protect your privacy, but in some cases, prior notice may not be possible.
In accordance with Indian laws, Newchunka Loan is committed to protecting users' sensitive personal information and data.
Upon repayment of loans/financial loans, you understand and agree that the consent provided under the privacy policy does not automatically withdraw, and your account on the platform will not be deleted.
We will retain your information and/or data for the period required by Newchunka Loan/financial partners to: (a) Enforce your legal rights and obligations. (b) Ensure compliance with obligations and responsibilities under applicable laws as per Reserve Bank of India regulations.
Your personal information is stored on cloud servers. We employ protection measures such as firewalls, SSL data encryption, and information access controls. We take reasonable measures to protect the integrity and security of your personal information against loss, theft, unauthorized access, disclosure, copying, use, or modification. We use security measures and procedures as prescribed by applicable laws to ensure your information is protected. The information you provide may be stored on secure servers located within or outside India.
When you wish to stop using and cancel your account, you can use the account deletion feature within the app. Our customer service will contact you, and you will need to provide account and related verification documents to confirm your identity. After successful verification, we will delete your account and related data within 10 days. If you cannot use the account deletion feature, you can request deletion by emailing support@newchunkatech.com.
If you have any questions about this privacy policy, you can contact us via email at support@newchunkatech.com.