Terms & Conditions
BH complies with all regulations on the protection of Personal Information specified in laws and regulations applicable to the financial service provider/digital lending app.
We recognize the importance of “Personal Information” including “Sensitive Personal Information” provided by natural persons, under lawful contract. We intend to take reasonable measures to keep such information confidential and may share it with our affiliates and third parties under appropriate arrangements and under the applicable laws and policies.The list of such third parties can be accessed from the below link: https://www.truebalance.io/partner.
This policy describes:
The types of information that we may collect from you when you access or use our website(s) or True Balance mobile application (collectively, “Platform”); and
Our practices for collecting, storing, using, maintaining, protecting, disclosing, transfer, etc. information.
Your acknowledgment and consent
The Personal Information Policy of the services of BH is as follows.
Account means a unique account or identifier created for you to access our Service or parts of our Service.
Application means the software program provided by the Company downloaded by you on any electronic device, named “True Balance”.
Company (referred to as either "the Company", “BH”, "We", "Us" or "Our" in this Agreement) refers to Balancehero India Private Limited, Gurgaon.
Country refers to: India
State refers to: Haryana, India
Device means any device that can access the Service such as a computer, a mobile phone or a digital tablet etc.
“Lending Partner” means banks, non-banking financial companies and other financial institutions regulated by the Reserve Bank of India, with whom there is an arrangement with True Credits to facilitate Services through the Platform;
“Loan” means various lending products offered by True Credits or its Lending Partner through Platform to you on the terms and conditions agreed with you.
“Loan Application” means the digital journey done by you while applying for Loan on Platform.
Personal Data is any information that relates to an identified or identifiable individual.
Service refers to the services provided by the application.
Service Provider means any natural or legal person who processes the data on behalf of the Company. It refers to third-party companies or individuals employed by the Company to facilitate the Service, to provide the Service on behalf of the Company, to perform services related to the Service or to assist the Company in analyzing how the service is used.
Usage Data refers to data collected automatically, either generated by the use of the Service or from the Service infrastructure itself (for example, the duration of a page visit).
you mean the individual accessing or using the Service, or the company, or other legal entity on behalf of which such individual is accessing or using the Service, as applicable
B. Type of Personal Information collected and Purpose and Use of collection
Types of Data Collected
While using our Service, We may ask you to provide us your consent with certain personally identifiable information that can be used to contact or identify you. The Personal Information will not be used for purposes other than providing services. Prior approval of the users would be required, in case of change in the purposes.
a) Identity and profile-related data: This includes your first and last name, Date of Birth, country of origin, username or similar identifiers, password, gender, title, background, feedback, etc.
b) User Correspondence details: This includes your email addresses, and residential address.
It is clarified and declared that we do not view, access or store Contact Lists from your Device.
c) Location data: This includes information about the approximate/ coarse Location of your device for activities such as serviceability, fraud prevention and on-boarding purposes in case of Loan Application.
d) KYC data: This includes identification documents issued by the government or other authorities which includes one of Officially Valid Documents specified in RBI-KYC directions (Driving License, Voter’s ID, NREGA Job Card, Passport, Aadhaar card, PAN).True Balance may ask for one time access to camera for customer onboarding/said KYC process.
e) Transaction data: This includes details of transactions that may occur through the Platform or in connection with the Services. For example, transaction data may include the services you have sought or availed through the Platform or confirmations of such services.
f) SMS: We and our authorized service provider (Finbox) shall access all your SMSs and collect the SMSs with alphabetic or less-than-10-characters numeric sender name only. When the user grants permission, this app and our authorized service provider (Finbox) accesses, reads, collects, and uses the collected SMSs solely for verifying your financial position and assessing your credit risk to enable loan, even when the user is not engaging with the app.
g) Financial data: This includes your past credit history, income details, details of loans issued or otherwise applied for through the Platform, payments and repayments thereof, your bank account details, and bank account statements only in case of loan application.
h) Marketing and communications data: This includes your preferences in receiving marketing messages from us and our third parties and your communication preferences.
i) Usage & Device data: This includes information about how you use the Services. Usage Data may include information such as your Device's Internet Protocol address (e.g. IP address), browser type, browser version, the pages of our service that you visit, the time and date of your visit, the time spent on those pages, unique device identifiers and other diagnostic data.When you access the Service by or through a mobile device, we may collect certain information automatically, including, but not limited to, the type of mobile device you use, your mobile device unique ID, the IP address of your mobile device, your mobile operating system, the type of mobile Internet browser you use, unique device identifiers, Name and Version of system and application software; Other information collected: Installed applications on User’s device; crash logs, diagnostic and other app performance data, such as- App launch time to improve user experience, etc.
We may also collect information that your browser sends whenever you visit our Service or when you access the Service by or through a mobile device.
j) Media & Document: True Balance app does not access your device storage or media, however, the Company may ask you to select and upload specific images or documents which will be specific to your KYC or underwriting data or related to addressing the complaints raised by you.
k) Miscellaneous data: This includes Credit and debit card number (last 4 digits) WiFi connection information and any information collected by us regarding you available in the public domain. We may also collect the application and package name for each application installed on your device for fraud prevention purpose.
We use this information to provide our Service and to improve and customize the features of our Service.
You can disable access for these permissions in your device settings at any time, or revoke/withdraw access rights from the application, however we recommend that you keep these permissions enabled so that we can provide you uninterrupted service.
C. Term of retaining and use of personal information
Retention of your personal data
The Company will also retain Usage Data for internal analysis purposes. Usage Data is generally retained for a shorter period of time, except when this data is used to strengthen the security or to improve the functionality of Our Service, or We are legally obligated to retain this data for longer time periods.
We shall preserve the records pertaining to the identification of the borrowers and their addresses obtained while opening the account and during the course of business relationship, for at least five years after the business relationship is ended.
You may write to us in case you want us to remove your data from our records. We will ensure to fulfill your request subject to any requirement of retaining information as per applicable law.
Use of your personal data
The Company may use Personal Data for the following purposes:
To provide and maintain our Service, including to monitor the usage of our Service.
To manage your Account: to manage your registration as a user of the Service. The Personal Data you provide can give you access to different functionalities of the Service that are available to you as a registered user.
For the performance of a contract: the development, compliance and undertaking of the purchase contract for the products, items or services you have purchased or of any other contract with Us through the Service.
To contact you: To contact you by email, telephone calls, SMS, or other equivalent forms of electronic communication, such as a mobile application's push notifications regarding updates, informative communications, promotions, marketing communications related to the functionalities, products, contracted services and sponsored content, including the security updates, when necessary or reasonable for their implementation.
To provide you with news, special offers and general information about other goods, services and events which we offer that are similar to those that you have already purchased or enquired about.
To manage your requests: To attend and manage your requests to Us.
For business transfers: We may use your information to evaluate or conduct a merger, divestiture, restructuring, reorganization, dissolution, or other sale or transfer of some or all of Our assets, whether as a going concern or as part of bankruptcy, liquidation, or similar proceeding, in which Personal Data held by Us about our Service users is among the assets transferred.
To Improve our site (we continually strive to improve our site offerings based on the information and feedback we receive from you).
The e-mail address, contact details provided by you including the contact details linked to your KYCs may be used to send you information, respond to inquiries and to address other requests or questions and to intimate you the due date of payments (if any) or breach of any contract entered by you for grant of any service by BH.
For other purposes: We may use your information for other purposes, such as data analysis, identifying usage trends, fraud detection and prevention, determining the effectiveness of our promotional campaigns and to evaluate and improve our products, services, marketing, and your experience.
Otherwise with your consent.
D. Storage and Transfer of your personal data
Your information, including Personal Data, is processed at the Company's operating offices and at any other places where the parties involved in the processing are located, in accordance with applicable laws. The Company ensures that your information, including Personal Data, is processed and stored in servers located in India, in accordance with applicable laws.
Further, the application gives the option to the customers to restrict sharing of the data with Third Parties.
You further agree that such disclosure, sharing and transfer of your Personal Information shall not cause any wrongful loss to you or to any third party, or any wrongful gain to us or to any third party.
With Service Providers:
We may share your personal information with Service Providers to monitor and analyze the use of our Service, to contact you. We may transfer, share, disclose or part with all or any of your Information to various third-party service providers / partners / banks and financial institutions for one or more of the Purposes or as may be required by applicable law. In such case we will contractually oblige the receiving parties of the Information to ensure the same level of data protection that is adhered to by BH under applicable law.
For payment processing: you agree that We use other third parties such as a credit/debit card processing company, payment gateway, pre-paid cards etc. to enable you to make payments for availing Services on Application. When you sign up for these Services, you may have the ability to save your card details for future reference and faster future payments. In such a case, we may share your relevant Personal Information as necessary for the third parties to provide such services, including your name, residence address and email address as available in our records. The processing of payments or authorization is solely in accordance with these third parties’ policies, terms and conditions and we are not in any manner responsible or liable to you or any third party for any delay or failure at their end in processing the payments.
With Government and Law Enforcement Agencies: We may also share the information with the government authorities or courts, pursuant to applicable laws and directives, for any investigation for offences in order to investigate, prevent, or take action regarding illegal activities, suspected fraud, situations involving potential threats to the physical safety of any person, violations of various terms and conditions or our policies.
For business transfers: We may share or transfer your personal information in connection with, or during negotiations of, any merger, sale of Company assets, financing, or acquisition of all or a portion of Our business to another company.
With other users: when you share personal information or otherwise interact in the public areas with other users, such information may be viewed by all users and may be publicly distributed outside..
Lender/Lending Partner/ Lending service Provider: Relevant information collected by True Balance is shared with True Credit or its Lending partners and their Lending service providers (“Parties”) in case the customer wants to make a loan application. Further, the data usage, storage and transfer is further regulated in accordance with the privacy policies of the respective parties. However, the customer shall at all time have the option to revoke the access provided to share the information any further and also, to withdraw consent to share the certain data with third parties.
With your consent: We may disclose your personal information for any other purpose with your consent.
By using our services, you agree and consent to our collection, storage, processing and sharing of information (including sensitive personal data or information) about you or your use of services with third parties or service providers identified above.
When we share, process your information (including sensitive personal data or information) about you or your use of services, we ensure that it is shared or processed in compliance with applicable laws.
If you do not agree to each and all of these terms and conditions, please do not use the website/ app to avail Services from BH. You may at any time while availing the Services withdraw your consent by contacting us as described in the “Contact Us” section. However, in the event of withdrawal of consent, We may not be able to serve you any further, also we will retain information which is required for fulfilling regulatory or legal requirements.
E. Security of Personal Data
The security of your Personal Information is very crucial to us. It is our endeavor to protect your Personal Information against any type of unauthorized usage. To do this, BH has adopted measures like internal reviews of the data collection, storage and processing practices and security measures, including appropriate encryption and physical security measures to guard against unauthorized system access where your personal information is stored. BH has taken measures applicable under law to protect your information.
We have implemented technical controls like firewall, encryption, password, WAF, SOC, Anti-virus etc. and management controls like access management, log review, NDA etc. for better safety of the information given by you.
BH does not store the card details (Card Number, CVV, Validity etc.) in its servers. We only store last 4 digits of the card number in line with the card tokenization guideline of RBI. Additionally, in order to comply with the UIDAI guidelines, we store only Aadhaar Reference number in our servers.
BH may share information with other third parties under strict confidential/non-disclosure agreement but won’t be liable for the security breach of the third party. BH cannot also be held responsible for the loss or damage to you, as a result of you providing the information to third parties.
BH has designed and implemented Incident Management policy which shall be followed in case of any security incident.
F. Children’s Privacy
Our Service does not address anyone under the age of 18. We do not knowingly collect personally identifiable information from anyone under the age of 18. If you are a parent or guardian and you are aware that your child has provided Us with Personal Data, please contact Us. If We become aware that We have collected Personal Data from anyone under the age of 18 without verification of parental consent, We take steps to remove that information from Our servers.
If We need to rely on consent as a legal basis for processing your information and your country requires consent from a parent, We may require your parent's consent before We collect and use that information.
G. Method of Disposal of Personal Information
Procedure of disposal
Your Personal data is immediately disposed off after the purpose of its collection has been fulfilled, in accordance with this policy and other applicable laws. The above information, unless otherwise required by law, shall not be used for any other purposes, other than the original purpose as mentioned in this policy document.
You have the right to delete or request that we assist in deleting the Personal Data that we have collected about you.
You may update, amend, or delete your certain information at any time by signing into your Account, if you have one, and visiting the account settings section that allows you to manage your personal information. You may also contact Us to request access to, correct, or delete any personal information that you have provided to Us.
Please note, You shall be able to edit or delete only that information which does not impact the services provided by us to you or information which we are required to hold in accordance with the applicable regulations. You also may not be able edit the information which has been verified through Government bodies during the KYC process, in order to update such information re-KYC needs to be initiated by you. You are also entitled to review the information provided and ensure that any personal information or sensitive personal data or information found to be inaccurate or deficient be corrected or amended as feasible.
Please note, that the application in compliance with the applicable laws and guidelines give you the right to revoke access to the permissions given by you for using the application or to avail the services.
Method of disposal
Personal information printed on paper is shredded or incinerated for disposal. Personal information saved in a digital format is deleted by using technology that prevents the recovery of deleted records.
H. Administrators in Charge of Management of Personal Information
BH has designated an administrator in charge of the management of the personal information of Users and strive to protect the personal information. He/she may be accessed as under:
Address: Huda City Centre Metro Station, 5th floor, sector – 29, Gurgaon, Haryana 122001, India
No personal information/data/details will be collected via cookies and other tracking technology; however, if you previously provided personally identifiable information, cookies may be tied to such information. Aggregate cookie and tracking information may be shared with third parties.
J. Your Consent
In this regard, you expressly and irrevocably authorize True Balance/ its partners / affiliates to collect, use, verify and authenticate your personal identity information / KYC in any manner as may be deemed fit.
K. Third Party Sites
In relation to the payment gateways used by you to do payments to different sites or for the services, these gateways are managed by the third parties and hence are controlled by the same. At some point some of the information is saved in these third-party sites. BH is not responsible for any type of loss or damage to you, with regard to the information held by these third-party sites. However, these payment gateways are digitally encrypted, thereby providing the highest possible degree of privacy, security, and care.
Our Services may also have links to third-party websites and services that are outside our control. Further, We, Our group companies, Our affiliates, and the directors and employees (“the Group”) accept no liability and will not be liable for any loss or damage arising directly or indirectly (including special, incidental or consequential, punitive, or exemplary loss, damage or expenses) from Your use of any mobile application or any site or inability to use by any party, howsoever arising, and including any loss, damage or expense arising from, but not limited to, any defect, error, omission, interruption, imperfection, fault, mistake or inaccuracy with any mobile or online application, its Contents (material, information, data, money market movements, news items, etc.) or associated services, or due to unavailability of any application or any part thereof or any Contents or associated services even if the Group are advised of the possibility of such damages, losses or expenses.
We are not in a position to control or guarantee the accuracy, integrity, or quality of the information, data, text, software, music, sound, photographs, graphics, videos, messages or other relevant materials available on the Linked Sites. To clarify, please be aware that the information you provide on the Linked Sites shall be governed by policies of the Linked Sites which you view.
I. Governing Law or Dispute Resolution
This Policy shall be governed by and construed in accordance with the Indian laws The courts at Gurgaon (HR) shall have exclusive jurisdiction in relation to any disputes arising out of or in connection with this Policy.
If any dispute arises between BH and the User in connection with or arising out of the validity, interpretation, implementation or alleged breach of any provision of the Policy, such dispute shall be referred to and finally resolved by arbitration in accordance with the Indian Arbitration and Conciliation Act, 1996 for the time being in force, which rules are deemed to be incorporated by reference in this clause. There shall be one (1) arbitrator and the seat of the arbitration shall be Gurgaon, India.
M. Right of Users
Users have the right, at any time, to know whether their personal information has been stored and can consult BH to learn about their contents and origin, to verify their accuracy or to ask for them to be supplemented, cancelled, updated or corrected, or for transformation into anonymous format or to block any data Requests should be sent to the administrator in charge of the management of the personal information of Users at the contact information set out above.
This Application does not support “Do Not Track” requests. To determine whether any of the third-party services uses honor the “Do Not Track” requests, please read their privacy policies.
DISCLAIMER, FORCE MAJURE AND INDEMNITY:
WITHOUT LIMITING THE FOREGOING, EVERYTHING ON THIS SITE, THE CONTENT, SERVICES AND MATERIALS IN THE SITE ARE PROVIDED "AS IS" AND ON AN "AS AVAILABLE" BASIS WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND EITHER EXPRESS, IMPLIED OR STATUTORY. WE DO NOT MAKE ANY REPRESENTATIONS, WARRANTIES OR ENDORSEMENTS REGARDING THE ACCURACY, RELIABILITY, USEFULNESS OR COMPLETENESS OF THE SERVICES, CONTENT OR MATERIALS IN THE SITE OR ANY SITE LINKED TO IT. TO THE MAXIMUM EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, WE DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEM ENT, DESIGN, ACCURACY, CAPABILITY, SUFFICIENCY, SUITABILITY, CAPACITY, COMPLETENESS, AVAILABILITY, COMPATIBILITY OR ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE. WE DO NOT WARRANT THAT THE SITE OR THE SERVICES, CONTENT, MATERIALS OR FUNCTIONS CONTAINED IN THE SITE WILL BE CONTINUOUSLY AVAILABLE, UNINTERRUPTED OR ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT THE SITE, SERVICES, CONTENT, MATERIALS OR THE SERVERS THAT MAKE THE SITE OR SUCH SERVICES, CONTENT AND MATERIALS AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS OR ARE ACCURATE OR COMPLETE. WE DO NOT WARRANT OR MAKE ANY REPRESENTATIONS REGARDING THE USE OR THE RESULTS OF THE USE OF THE SERVICES, CONTENT, MATERIALS, FUNCTIONS OR PRODUCTS AVAILABLE THROUGH THE SITE IN TERMS OF THEIR CORRECTNESS, ACCURACY, RELIABILITY, OR OTHERWISE. you ASSUME THE ENTIRE COST OF ALL NECESSARY SERVICING, REPAIR, OR CORRECTION. APPLICABLE LAW MAY NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU.
Neither BH and its affiliates, nor their or their affiliates' officers, employees or agents shall be liable to you or anyone else for any loss, damage or expense arising out of any access to or use of this Site / Services or any site linked to it, including, without limitation, any loss of revenues or profits, loss of business or loss of data, indirect, incidental or consequential loss.
BH reserves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify BH, including rights to settle, and you agree to cooperate with BH’s defense and settlement of these claims. BH will use reasonable efforts to notify you of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it.
Notwithstanding anything contained in the policy, BH won’t be responsible for any loss or damage to you in case of any Force Majeure Event, which is unforeseeable or not within the control of BH. A Force Majeure Event shall mean any event that is beyond the reasonable control of BH and shall include, without limitation, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorized access to computer, computer system or computer network, computer crashes, breach of security and encryption (provided beyond reasonable control of BH), power or electricity failure or unavailability of adequate power or electricity.
you agree that no transmission on the internet can be said to be fully secured, hence, BH cannot ensure the security of all the information provided by you and you do it on your own accord. BH may entrust a third person with the management affairs of personal information for successful service operation and contract performance to following entities, and entities and will manage trustee to protect Personal Information from theft, leak, loss, falsification, harm in accordance with applicable laws and regulations.
O. Grievance Redressal
Your complaint shall be addressed as per the Grievance redressal mechanism of the Company
P. Effective Date
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True Balance app (Balancehero India Private Limited) is a digital lending partner of True Credits Private Limited (NBFC) that facilitates its users to avail innovative financial services from True Credits.
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