1. Introduction
Welcome to Loan Haat ("we," "our," or "us"). Loan Haat is a loan marketplace and aggregator platform. This Privacy Policy explains how we collect, use, disclose, and safeguard your personal information when you use the Loan Haat mobile application (the "App") and any related services (collectively, the "Services"). It also describes your rights regarding your personal data and how you can exercise them.
By downloading, installing, or using the App, you acknowledge that you have read, understood, and agree to be bound by this Privacy Policy. If you do not agree with any part of this policy, please discontinue use of the App immediately.
2. Who We Are
Loan Haat is a financial technology (fintech) platform that acts solely as an intermediary marketplace. We connect users seeking loans with licensed banks and Non-Bank Financial Institutions (NBFIs). We do not lend money directly. All lending decisions are made exclusively by our partner financial institutions.
3. Information We Collect
We collect information that is necessary to provide you with our Services and to comply with applicable laws. The categories of information we collect include:
3.1 Information You Provide Directly
- Identity Information: Full name, date of birth, national ID (NID) number, passport number (if applicable).
- Contact Information: Mobile phone number, email address, residential and mailing address.
- Financial Information: Monthly income, employment status, employer name, existing loan obligations, and bank account details (for application purposes only).
- Application Data: Information submitted as part of a loan application form, including the loan amount requested, loan purpose, and preferred repayment tenure.
- Documents: Copies of identity documents, income proof, or other supporting documents you choose to upload when applying for a loan.
- Communications: Messages, feedback, and correspondence you send to our customer support team.
3.2 Information Collected Automatically
When you use the App, we automatically collect certain technical data, including:
- Device Information: Device model, operating system version, unique device identifiers, and mobile network information.
- Usage Data: Pages and features accessed within the App, time spent, click patterns, and session duration.
- Log Data: IP address, app crash reports, and diagnostic data.
- Language and Region Settings: To deliver the appropriate language interface.
3.3 Information We Do Not Collect
Loan Haat does not access or collect the following data from your device:
- Photos or media files stored on your device
- Your device contacts or address book
- Precise GPS or fine location data
- Call logs or phone numbers from your device
- Any data not directly necessary for the provision of our loan marketplace Services
4. How We Use Your Information
We use the information we collect for the following purposes:
- To Provide and Operate the Services: Processing your loan inquiries, matching you with suitable lender products, and facilitating your loan application submission to partner lenders.
- To Verify Your Identity: Conducting identity verification as required by applicable Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations in Bangladesh.
- To Communicate with You: Sending you application status updates, loan offers, service notifications, and responding to your support requests.
- To Personalize Your Experience: Displaying loan products and offers that are relevant to your profile and financial needs.
- To Improve Our Services: Analyzing usage patterns and feedback to enhance App functionality, user experience, and product offerings.
- To Comply with Legal Obligations: Meeting our obligations under Bangladesh Bank regulations, the Information and Communication Technology (ICT) Act, the Digital Security Act, and other applicable laws of Bangladesh.
- To Prevent Fraud and Ensure Security: Detecting, investigating, and preventing fraudulent transactions, unauthorized access, and other illegal activities.
5. How We Share Your Information
We do not sell, rent, or trade your personal information to third parties for marketing purposes. We may share your information only in the following limited circumstances:
- With Partner Lenders: When you choose to apply for a loan through the App, we share the relevant application data with the specific licensed bank or NBFI you have selected. This sharing is necessary to process your application and is done with your explicit consent at the time of application.
- With Service Providers: We may engage trusted third-party vendors who assist us in operating the App (e.g., cloud hosting providers, analytics services, KYC verification providers). These vendors are contractually bound to handle your data securely and only for the purposes we specify.
- With Regulatory Authorities: We may disclose your information to Bangladesh Bank, the Bangladesh Financial Intelligence Unit (BFIU), law enforcement agencies, or other government authorities when required by law, court order, or regulatory directive.
- In a Business Transfer: If Loan Haat undergoes a merger, acquisition, or sale of assets, your information may be transferred as part of that transaction. We will notify you of any such change via the App or by email.
- With Your Consent: We may share your information with any other third party where you have given us explicit, informed consent to do so.
6. Data Retention
We retain your personal information for as long as your account remains active or as needed to provide you with our Services. We may also retain certain data for longer periods where required by law or for legitimate business purposes, such as resolving disputes, preventing fraud, or complying with regulatory retention requirements.
When your data is no longer required, we will securely delete or anonymize it in accordance with our internal data retention schedule and applicable legal obligations.
7. Data Security
We implement industry-standard technical and organizational security measures to protect your personal information from unauthorized access, disclosure, alteration, or destruction. These measures include:
- End-to-end encryption for data transmitted between your device and our servers.
- Secure server infrastructure with access controls and monitoring.
- Regular security assessments and vulnerability testing.
- Staff training on data privacy and information security practices.
While we take every reasonable precaution, no method of transmission over the internet or electronic storage is 100% secure. We encourage you to protect your account credentials and to contact us immediately if you suspect any unauthorized access to your account.
8. Your Rights
As a user of Loan Haat, you have the following rights regarding your personal data:
- Right to Access: You may request a copy of the personal information we hold about you.
- Right to Correction: You may request that we correct any inaccurate or incomplete information.
- Right to Deletion: You may request the deletion of your personal data, subject to our legal and regulatory retention obligations.
- Right to Withdraw Consent: Where processing is based on your consent, you may withdraw that consent at any time. Withdrawal does not affect the lawfulness of processing carried out before the withdrawal.
- Right to Complaint: You have the right to lodge a complaint with the relevant data protection or financial regulatory authority in Bangladesh if you believe your data has been handled unlawfully.
To exercise any of these rights, please contact us using the details provided in Section 11 below.
9. Children's Privacy
Loan Haat is not intended for use by individuals under the age of 18. We do not knowingly collect personal information from minors. If you are a parent or guardian and believe that your child has provided us with personal information, please contact us immediately and we will take steps to delete such information from our systems.
10. Third-Party Links and Services
The App may contain links to the websites or applications of our partner lenders and other third parties. This Privacy Policy applies solely to Loan Haat's own Services. We are not responsible for the privacy practices of any third-party platforms, and we encourage you to review their respective privacy policies before submitting any personal information to them.
11. Contact Us
If you have any questions, concerns, or requests regarding this Privacy Policy or the handling of your personal data, please contact us:
12. Changes to This Privacy Policy
We may update this Privacy Policy from time to time to reflect changes in our practices, technology, legal requirements, or other factors. When we make material changes, we will notify you through the App or via email prior to the changes taking effect, and we will update the "Last Updated" date at the top of this document. Your continued use of the App after such notification constitutes your acceptance of the revised policy.