Last Updated: October 2025
At Loanwala. (“Loanwala”, “we”, “our”, or “us”), we are committed to protecting your privacy and ensuring the security of your personal information. This Privacy Policy explains how we collect, use, share, and safeguard your data when you visit www.loanwala.in, interact with our team, or use our loan facilitation services. By accessing or using our website, you consent to the collection and use of your information as described in this policy.
1. Purpose of Data Collection
Loanwala collects personal and financial data to provide transparent, efficient, and secure loan consultation and facilitation services.
We use your data to:
- Evaluate loan eligibility and recommend suitable loan options.
- Process loan applications with partner banks or NBFCs.
- Communicate loan offers, updates, and approvals.
- Enhance customer experience and service quality.
- Comply with legal, regulatory, and anti-fraud requirements.
We only collect information necessary for legitimate business and financial purposes.
2. Information We Collect
We may collect the following categories of data from you:
A. Personal Information
- Full Name
- Date of Birth
- Gender
- Residential Address
- Email ID and Mobile Number
- Identity details (PAN, Aadhaar, Passport, Voter ID, etc.)
B. Financial Information
- Bank account details
- Salary slips, income proofs, ITR documents
- Business financials (for business or Mudra loans)
- Credit score or CIBIL details
C. Technical & Usage Data
- IP address, browser type, and device information.
- Cookies and tracking information (for analytics and marketing).
- Session data like pages visited, time spent, and navigation behavior.
D. Third-Party Data
We may also receive your information from:
- Authorized financial partners (banks/NBFCs).
- Public databases and verification agencies.
- Credit bureaus and payment gateways.
3. Legal Basis for Processing Data
Loanwala processes your personal data based on the following grounds under Indian law:
- Consent: You have explicitly consented to data collection and use.
- Contractual Necessity: Data is required to provide loan services.
- Legal Obligation: We comply with RBI and statutory regulations.
- Legitimate Interest: For fraud prevention, analytics, and improving customer experience.
4. How We Use Your Information
Your information helps us deliver seamless, transparent, and personalized loan experiences.
Specifically, we use it to:
- Assess eligibility and match you with appropriate lenders.
- Facilitate your loan application and track its progress.
- Verify your identity through authorized KYC procedures.
- Communicate updates, promotional offers, and service changes.
- Maintain records for regulatory audits and compliance.
We ensure all processing is done responsibly, without misuse or unauthorized access.
5. Data Sharing & Disclosure
Loanwala does not sell or rent your personal data.
We may share your data only in the following situations:
A. With Financial Partners
Your data may be shared with banks, NBFCs, or lending partners solely for loan processing and verification.
B. With Service Providers
Trusted third-party vendors may assist with:
- KYC verification
- Document collection
- IT support and data analytics
- Marketing and communication services
All vendors are bound by confidentiality agreements and data security clauses.
C. Legal and Regulatory Authorities
We may disclose information to government bodies, courts, or regulators if required under:
- RBI Guidelines
- Prevention of Money Laundering Act (PMLA), 2002
- Information Technology Act, 2000
- Digital Personal Data Protection Act, 2023
6. Data Retention
We retain your personal data only as long as necessary for the purpose it was collected, or as mandated by law.
Retention periods depend on:
- Regulatory requirements.
- Loan application and processing timelines.
- Dispute resolution or audit obligations.
Upon expiry of retention period, your data is securely deleted or anonymized.
7. Data Security
Loanwala implements advanced administrative, technical, and physical safeguards to protect your data.
Security measures include:
- 256-bit SSL encryption for data transmission.
- Secure cloud storage and restricted server access.
- Two-factor authentication for internal users.
- Regular audits and penetration testing.
While we strive to protect your data, no online platform is 100% secure. You agree to share information at your own discretion.
8. Cookies & Tracking Technologies
Loanwala uses cookies to:
- Enhance website functionality and personalization.
- Understand user behavior and improve services.
- Deliver relevant ads and marketing content.
You can disable cookies through your browser settings, but some site functions may not work properly as a result.
9. Your Rights
Under Indian data protection laws, you have the following rights:
- Right to Access: Request a copy of your personal data held by us.
- Right to Correction: Update inaccurate or incomplete information.
- Right to Withdraw Consent: Opt out of marketing or data use at any time.
- Right to Deletion: Request deletion of data, subject to legal limits.
- Right to Grievance Redressal: Report data misuse or complaints to our Data Protection Officer.
To exercise your rights, contact us at info@loanwala.in.
10. Marketing & Communication
By using our platform, you consent to receive communication via:
- Email, SMS, phone calls, or WhatsApp. These communications may include:
11. Children’s Privacy
Loanwala services are not intended for individuals under 18 years of age.
We do not knowingly collect data from minors. If a child’s data is inadvertently collected, it will be deleted immediately upon identification.
12. Links to Third-Party Websites
Our website may contain links to external financial partners or third-party platforms.
Loanwala is not responsible for the privacy practices or content of these websites. Users are encouraged to read the respective privacy policies before engaging.
13. Updates to This Policy
Loanwala reserves the right to modify or update this Privacy Policy at any time.
Changes will be posted on this page with an updated date. Continued use of our platform after updates implies acceptance of the revised policy.
14. Grievance Officer & Contact
If you have questions, concerns, or complaints about our privacy practices, contact our Grievance Officer:
Name: Data Protection Officer, Loanwala
Email: info@loanwala.in
Phone: +91-XXXXXXXXXX
Address: 301, Silver Fortune, Near Gaay Circle, Vadodara, Gujarat – 390007
We will respond to complaints within 30 working days as per the Digital Personal Data Protection Act, 2023.
15. Jurisdiction
This Privacy Policy and any dispute related to it shall be governed by the laws of India, and subject to the exclusive jurisdiction of the courts in Ahmedabad, Gujarat.