Privacy Policy of SRS Fintech Labs Private Limited (“OXYLOANS”)

Oxyloans.com is a revolutionary peer 2 peer lending platform, it is our pleasure to host you on our website. By browsing our website, you are agreeing to comply with and be bound by the following terms and conditions of use, which together with our privacy policy govern OxyLoans relationship with you in relation to this website.

Our registered office is at SRS FINTECHLABS PVT LTD Plot No 287, 1st Floor, MIG-2, Phase – IX, KPHB Colony, Hyderabad -500072, Telangana, India. The term ‘you’ refers to the user or viewer of our website. The term SRS FinTech Labs Private Limited or our product OxyLoans.com, herein after referred as “OxyLoans” or ‘ ‘us’ or ‘we’ refers to the Company and owner of the website.

Reserve Bank of India does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by SRS FinTech Labs India Pvt. Ltd OR OxyLoans, and does not provide any assurance for repayment of the loans lent on it. 

Online Privacy and Security Policy

This Privacy Policy governs the following:

• The type of information collected from the Visitors, including personal information;
• The purpose, means and modes of collection, usage, processing, retention, storage and destruction of such information; and
• How and to whom OXYLOANS will disclose such information. OXYLOANS respects each Visitor’s privacy and recognizes the need to protect the personal data or information shared with OXYLOANS.

 

SRS FINTECHLABS PVT LTD (‘OXYLOANS’) values the users of our website (the “Website”). Your privacy and trust are very important to us. We recognize that you may be concerned about our collection, use, and disclosure of the personally identifiable information (“Personal Information”) that we collect when you use the Website and the services offered on the Website (“OXYLOANS”). This Privacy Policy describes the information that we collect from you, how we collect this information, and what we do with it after we collect it. By using the Website you are accepting the practices described in this Privacy Policy. By using the Website you also give consent to the use of Your Personal Information by OXYLOANS in accordance with the terms set out in this Privacy Policy. If you have any questions or comments regarding this Privacy Policy, please contact us at megha@oxyloans.com.  You may mark the mail to grievance officer Mr. Subash Sure at subbu@oxyloans.com or call at +91 99 66 88 88 25. If your complaint / dispute is not redressed within a period of one month, you may appeal to the Customer Education and Protection Department of Reserve Bank of India.

 

DOES OXYLOANS EVER MAKE CHANGES TO ITS PRIVACY POLICY?
We may make changes to the Privacy Policy from time to time. We will notify you of any material changes by sending you an email, posting a notice on the home page of the Website, or posting a notice in your account when you first login after we have made changes. If you receive notification or a change in our Privacy Policy, you must review the new Privacy Policy carefully to make sure you understand our practices and procedures. You may not be able to receive notices from us if your cookies are not set to accept and/or are disabled.

 

WHO IS THE USER AND WHAT HE ACKNOWLEDGES
The words “you” or “your” or “user” or “visitor” as used herein, refer to all individuals and/or entities accessing or using the Website for any reason.

By accessing, browsing, registering, logging in the Website, the Visitor acknowledges to have read, understood, and agreed to be bound by this Privacy Policy and affirm assent to the collection, use, storage, processing and disclosure as set out in this Privacy Policy.

 

WHAT TYPE OF INFORMATION DOES OXYLOANS COLLECT FROM USER
Visitors may share personal information such as name, address, mailing address, telephone number, e – mail address and any and all details that may be requested by OXYLOANS from time to time (collectively, “Personal Information”). Personal Information includes any and all information received by OXYLOANS whether such information is received by email, online forms, telephone, facsimile, mail or otherwise. OXYLOANS stores this information to improve the level of service to you; however, OXYLOANS will not share the Personal Information with any third party without the Visitor’s explicit consent.

 

Classification of data we collect:

SensitivePersonal Data / Information:  We collect Sensitive Personal Data / Information that you provide to us, such as your name, mailing address, phone number, email address, credit card number, pan number, tan number, income tax returns, bank account number, passport details, driving license details, personal statements, reasons for seeking finance, income sources and financial information.

Non-Personal Information:   We also collect non-personal information from you, such as your browser type, the URL of the previous website you visited, your ISP, operating system, and your Internet protocol (IP) Address (“Non-Personal Information”). Non-Personal Information cannot be easily used to personally identify you.

 

HOW AND WHEN DOES OXYLOANS COLLECT THIS INFORMATION?

Providing Information to Us: We collect Sensitive /Personal Data / Information from you when you provide it to us. For example, if you purchase a product or services, or make an application for seeking a grant of loan from a borrower, we may collect your name, mailing address, telephone number, credit card number, pan number, tan number, income tax returns, bank account number, passport details, driving license details, personal statements, reasons for seeking finance, income sources and email address. If you create a either a Lender Account or a Borrower Account, we may collect your name, tax identification number, mailing address, email address, credit card number, pan number, tan number, income tax returns, bank account number, passport details, driving license details, personal statements, reasons for seeking finance, income sources and other information that we request during the registration process, and any information that you provide on your OXYLOANS. If you sign up to receive a newsletter, we will collect your email address.

Communications With Us: If you communicate with us regarding the Website or Services, we will collect any information that you provide to us in any such communication.

Analytic and Reporting Technologies: Like the operators of most websites, we use analytic and reporting technologies to record Non-Personal Information such as Internet domain and host names, Internet protocol (IP) addresses, browser software, operating system types, clickstream patterns, and the dates and times that the Website and Services are accessed. We also contract with several online partners to help manage, monitor and optimize our Website and Services and to help us measure the effectiveness of our advertising, communications and how visitors use the Website. To do this, we may use web beacons and cookies.

 

HOW DOES OXYLOANS USE VISITOR INFORMATION?
Personal Information:   We use Personal Information primarily for our own internal purposes, such as providing, maintaining, evaluating, and improving the Website, fulfilling requests for information, , and providing customer support. Your personal information shall also be shared with the other members of this website. Upon acceptance of these terms and conditions, you hereby grant an unequivocal and absolute consent to share your personal information (but not your Sensitive Personal Data / Information) with third parties. OXYLOANS is not required to seek your consent once again in respect of sharing your personal information with third parties. We would further share your information with marketing agencies and other businesses if we in our sole discretion understand that your information may be used to market a product or service. The term Personal Information shall include your name, address, e-mail id and mobile phone number but it shall not include any data in relation to your financial status, income statements, earnings, source of earnings, personal identification numbers, passwords, code numbers, bank account numbers, credit card numbers, expiry dates relationship numbers, CVV numbers, encryptions, cookies and other such electronic details.

Non-Personal Information:  We use Non-Personal Information to track the use of the Website and Services and for other internal purposes, such as providing, maintaining, evaluating, and improving Services and the Website.

WHEN WILL OXYLOANS DISCLOSE MY INFORMATION TO THIRD PARTIES?

Disclosure to Successors:  We may disclose your Personal Information to any successor-in-interest of ours, such as a company that acquires us. In the event OXYLOANS goes through a business transition, such as a merger or acquisition by or with another company, or sale of all or a portion of our assets, your Personal Information will likely be among the assets transferred. You will be notified via email or by a notice on our Website of any such change in ownership or control of your Personal Information.

Disclosure to Unaffiliated Third Parties:  We shall keep your personal information and Sensitive Personal Data / Information private and confidential. We may disclose your Personal Information and/or Sensitive Personal Data / Information to prevent an emergency, to respond to legal requirements, to protect or enforce our rights and policies, to protect or enforce the rights of a third party, or as required or permitted by law (including, without limitation, to comply with a summon or court order).

 

Disclosure to Third Party Service Providers and Online Partners:  We may contract with various third parties who help us provide, maintain and improve the Website and the Services. For example, we use a third party to process payments made to us, and may subcontract production, fulfillment, analytics, reporting or other operations. We also contract with several online partners to help manage, monitor and optimize our Website and the Services and to help us measure the effectiveness of our advertising, communications and how visitors use the Website. We will use commercially reasonable efforts to prevent such third parties from disclosing your Personal Information, except for the purpose of providing Services in question. We cannot guarantee that such third parties will not disclose your Personal Information. In no circumstances, OXYLOANS shall disclose data in relation to your financial status, income statements, earnings, source of earnings, personal identification numbers, passwords, code numbers, bank account numbers, credit card numbers, expiry dates relationship numbers, CVV numbers, encryptions, cookies and other such electronic details.

Disclosure of Non-Personal Information:  We will disclose Non-Personal Information, in aggregate form, to potential strategic partners, advertisers, investors, customers, and others. You may opt-out of the sharing of this information by mailing the grievance redressal officer. However, it cannot be easily used to identify you personally.

Internet Advertising:  We may use third party service providers to serve ads on our behalf across the Internet and sometimes on the Website. They may collect anonymous information about your visits to our Website, and your interaction with our products and services. They may also use information about your visits to this and other websites to target advertisements for goods and services. This anonymous information is collected through the use of a web beacon, which is industry standard technology used by most major websites.

Disclosure to Credit Rating Agencies & Reserve Bank of India:  To make an improvement in its business OXYLOANS may share the personal information of a user with Credit Rating Agencies and the information shall be shared with Credit Rating Agencies in the event, Reserve Bank of India issues guidelines or direction in this regard.

 

WHAT ABOUT COOKIES AND WEB BEACONS?
A cookie is a small file placed on the hard drive of your computer. Most websites use cookies. We use cookies to track your use of the Website and OXYLOANS, provide you with a more personalized user experience, and to allow you to login and begin use of our Services automatically when you visit the Website.

A web beacon is an often-transparent graphic image, usually no larger than a 1×1 pixel that is placed on a web page or in an e-mail that is used to monitor the behavior of the user visiting the Website or receiving the e-mail.

Cookies and web beacons used by OXYLOANS and our online partners are not linked to Personal Information. This Privacy Policy covers the use of cookies and web beacons by OXYLOANS and does not cover the use of cookies or web beacons by any other third party, or advertiser.

 

HOW DOES OXYLOANS USE MY INFORMATION?

Personal Information:   We use Personal Information primarily for our own internal purposes, such as providing, maintaining, evaluating, and improving the Website, fulfilling requests for information, , and providing customer support. Your personal information shall also be shared with the other members of this website. Upon acceptance of these terms and conditions, you hereby grant an unequivocal and absolute consent to share your personal information (but not your Sensitive Personal Data / Information) with third parties. OXYLOANS is not required to seek your consent once again in respect of sharing your personal information with third parties. We would further share your information with marketing agencies and other businesses if we in our sole discretion understand that your information may be used to market a product or service. The term Personal Information shall include your name, address, e-mail id and mobile phone number but it shall not include any data in relation to your financial status, income statements, earnings, source of earnings, personal identification numbers, passwords, code numbers, bank account numbers, credit card numbers, expiry dates relationship numbers, CVV numbers, encryptions, cookies and other such electronic details.

 

Non-Personal Information:  We use Non-Personal Information to track the use of the Website and OXYLOANS Services and for other internal purposes, such as providing, maintaining, evaluating, and improving OXYLOANS Services and the Website.

 

WHEN WILL OXYLOANS DISCLOSE MY INFORMATION TO THIRD PARTIES?
Disclosure to Successors:  We may disclose your Personal Information to any successor-in-interest of ours, such as a company that acquires us. In the event OXYLOANS goes through a business transition, such as a merger or acquisition by or with another company, or sale of all or a portion of our assets, your Personal Information will likely be among the assets transferred. You will be notified via email or by a notice on our Website of any such change in ownership or control of your Personal Information.

Disclosure to Unaffiliated Third Parties:  We shall keep your personal information and Sensitive Personal Data / Information private and confidential. We may disclose your Personal Information and/or Sensitive Personal Data / Information to prevent an emergency, to respond to legal requirements, to protect or enforce our rights and policies, to protect or enforce the rights of a third party, or as required or permitted by law (including, without limitation, to comply with a summon or court order).

Disclosure to Third Party Service Providers and Online Partners:  We may contract with various third parties who help us provide, maintain and improve the Website and the OXYLOANS Services. For example, we use a third party to process payments made to us, and may subcontract production, fulfillment, analytics, reporting or other operations. We also contract with several online partners to help manage, monitor and optimize our Website and the OXYLOANS Services and to help us measure the effectiveness of our advertising, communications and how visitors use the Website. We will use commercially reasonable efforts to prevent such third parties from disclosing your Personal Information, except for the purpose of providing Services in question. We cannot guarantee that such third parties will not disclose your Personal Information. In no circumstances, OXYLOANS shall disclose data in relation to your financial status, income statements, earnings, source of earnings, personal identification numbers, passwords, code numbers, bank account numbers, credit card numbers, expiry dates relationship numbers, CVV numbers, encryptions, cookies and other such electronic details.

Disclosure of Non-Personal Information:  We will disclose Non-Personal Information, in aggregate form, to potential strategic partners, advertisers, investors, customers, and others. You may opt-out of the sharing of this information by mailing the grievance redressal officer. However, it cannot be easily used to identify you personally.

Internet Advertising:  We may use third party service providers to serve ads on our behalf across the Internet and sometimes on the Website. They may collect anonymous information about your visits to our Website, and your interaction with our products and services. They may also use information about your visits to this and other websites to target advertisements for goods and services. This anonymous information is collected through the use of a web beacon, which is industry standard technology used by most major websites.

Disclosure to Credit Rating Agencies & Reserve Bank of India:  To make an improvement in its business OXYLOANS may share the personal information of a user with Credit Rating Agencies and the information shall be shared with Credit Rating Agencies in the event, Reserve Bank of India issues guidelines or direction in this regard.

WHAT ABOUT COOKIES AND WEB BEACONS? A cookie is a small file placed on the hard drive of your computer. Most websites use cookies. We use cookies to track your use of the Website and OXYLOANS, provide you with a more personalized user experience, and to allow you to login and begin use of OXYLOANS Services automatically when you visit the Website.

A web beacon is an often-transparent graphic image, usually no larger than a 1×1 pixel that is placed on a web page or in an e-mail that is used to monitor the behavior of the user visiting the Website or receiving the e-mail.

Cookies and web beacons used by OXYLOANS and our online partners are not linked to Personal Information. This Privacy Policy covers the use of cookies and web beacons by OXYLOANS and does not cover the use of cookies or web beacons by any other third party, or advertiser.

DOES OXYLOANS PROTECT MY PERSONAL INFORMATION? Personal Information: Whenever we obtain your Personal Information, we use commercially reasonable efforts to protect it from unauthorized access or disclosure. However, we are not insurers of the security of your Personal Information.

Accordingly, we assume no liability for any disclosure of data due to errors in transmission, unauthorized third party access or other acts of third parties, or acts or omissions beyond our reasonable control.

Website Content:  The content that you store, post, or transmit on or through the Website, such as message board postings, storefront pages, and images on your Products, may be accessed by other users, including people that you do not know. We are not responsible for the actions of others. Therefore, you should use care in communicating with other users and only disclose your Personal Information to other users that you know to be trustworthy. You should not assume that your content will be kept private.

HOW CAN I REVIEW AND MAKE CHANGES TO MY PERSONAL INFORMATION? You can obtain a copy of and request that we correct errors in your Personal Information by emailing us at Support@OXYLOANS.com. You may mark the mail to grievance officer Mr. RadhaKrishna.

For your protection, you will be required to provide proof of your identity to obtain a copy of your Personal Information. If your Personal Information changes or if you no longer want to use the OXYLOANS Services, you may correct, update or deactivate your Personal Information and/or your account through the account management screen. If you would like to deactivate or terminate your account you can also contact us at Support@OXYLOANS.com.

Tell-A-Friend If you choose to use our referral service to tell a friend about the Website or OXYLOANS Services, we will ask you for your friend’s name and email address. We will automatically send your friend a one-time email inviting him or her to visit the Website. We store this information for the sole purpose of sending this one-time email and tracking the success of our referral program.

Security The security of your Personal Information is important to us. When you enter sensitive information such as a credit card number on our registration or order forms, we encrypt that information using secure socket layer technology (SSL). We follow generally accepted industry standards to protect the Personal Information submitted to us, both during transmission and once we receive it. However, no method of transmission over the Internet, or method of electronic storage, is 100% secure. Therefore, while we strive to use commercially acceptable means to protect your Personal Information, we cannot guarantee its absolute security.

Internet-based Transfers Given that the Internet is a global environment, using the Internet to collect and process Personal Information necessarily involves the transmission of data on an international basis. By providing OXYLOANS with your Personal Information you acknowledge and agree that we may store your Personal Information and transfer it to and from our servers. We endeavor to protect all Personal Information collected through the Website in a safe, confidential and secure manner.

DOES THIS PRIVACY POLICY APPLY WHEN I ACCESS THIRD PARTY WEBSITES? You may be able to access third party websites directly from the Website. This Privacy Policy does not apply when you access third party websites. We cannot control how third parties may use Personal Information you disclose to them, so you should carefully review the privacy policy of any third party website you visit before using it or disclosing your Personal Information to its provider.

WHAT ABOUT CHILDREN’S PRIVACY? The OXYLOANS Services are intended for users ages 21 and older only. Accordingly, we will not knowingly collect or use any Personal Information from individuals that we know to be under the age of 21. In addition, we will delete any information in our database that we know originates from an Individual under the age of 21.

CAN I OPT-OUT FROM RECEIVING COMMUNICATIONS FROM OXYLOANS? We provide you the opportunity to opt-out of having your Personal Information used for certain purposes. For example, if you purchase a product/service but do not wish to receive any additional marketing material from us, you can indicate your preference on our order form.

If you no longer wish to receive our newsletters and promotional communications, you may opt-out of receiving them by following the instructions included in each newsletter or communication or by emailing us at  megha@oxyloans.com. We also offer you an opportunity to opt-out of certain communications through the account management screen. If you need assistance you may contact us at  megha@oxyloans.com.

If we choose to disclose your Personal Information to a third party in a manner that is not set forth in this Privacy Policy you will be notified so that you can make an informed choice about sharing your Personal Information with that third party.

 

HOW TO CONTACT US FOR ANY QUERIES If you have any questions about this Privacy Policy or the website, please contact us at megha@oxyloans.com. If you have a privacy or data use concern, please contact us first at  subbu@oxyloans.com. 

CHANGES TO OUR PRIVACY POLICY
` We may amend this Privacy Policy at any time by posting a revised version on our website.  The revised version will be effective as of the published effective date.  If revisions include substantial changes, we will provide you with notice 30 days prior to the effective date which we will post in our Policy Update page of our website.  After the 30-day notice, your continued use of the Service constitutes express acceptance to all changes to the Privacy Policy. 

 

 

SRS FINTECHLABS requires references from the borrower’s professional or personal contacts for the purpose of verification of the borrower at the time of the disbursement of loan.

 

 

 

We may also collect certain information from your device through our mobile application/s. The details of information collected is as follows:

1. Financial SMS information

We don’t read or collect your personal SMS’s from your inbox.

After obtaining your explicit consent, we may collect and monitor financial SMS you receive from 5-6 digit alphanumeric senders which helps us in assessing the different bank accounts you hold and your cash flow patterns. This helps us accurately assess your profile for credit risk and provide you with the credit services that are appropriate for you. We only use financial SMS information (current and historical) to perform an updated, accurate credit risk assessment to determine your creditworthiness.

While you are using the OXYLOANS application/s, it periodically sends this financial SMS information to us and to our affiliate server.

2. Contact Information

Upto few references are required before approval and disbursal of a loan. For this purpose, our app requires your permission to collect and monitor your contacts’ information (including name, phone number, contact last modified, account type, favourites and optional data such as relationship and structural address) so as to enable you to autofill the data during the loan application process. It is essential for the purpose of credit risk assessment to obtain reliable reference information for a successful loan application.

We also utilize this information to allow you to easily share app invites with your contacts as part of our referral policy.

3. Device Location and Device Information

We require your consent for collecting and monitoring the information about the location of your device to determine serviceability of your loan application. This also helps us to verify your submitted address and expedite Know-your-customer (KYC) process, thereby reducing the risk associated with your application.

The collection and usage of data by our app can be controlled and managed through the privacy controls of your mobile device. The information we collect is assigned unique identifiers linking it to your mobile device. Upon downloading and installation of our app, we always get explicit permission from you before collecting any information.

The information we collect from your device includes the hardware model, build model, RAM, storage; unique device identifiers like IMEI, serial number, SSAID; SIM information that includes network operator, roaming state, MNC and MCC codes, WIFI information that includes MAC address and mobile network information.

We collect this information to uniquely identify your device, provide automatic updates and to provide additional security, ensuring no one else uses your account on their device in an unauthorized manner or in an act of fraud. In addition, the information provides us valuable feedback on your identity as a device holder as well as your device behaviour, thereby allowing us to improve our services and provide an enhanced customer experience to you.

Sensitive personal data or information

For the purposes of this Privacy Policy, the information that qualifies for safeguard and protection include information pertaining to i) password;
ii) financial information such as Bank account or credit card or debit card or other payment instrument details;
iii) physical, physiological and mental health condition;
iv) sexual orientation;
v) medical record and history;
vi) biometric information;
vii) any detail relating to these as provided to us for availing our services;
viii) any of the information received under these by us for processing, stored or processed under a lawful contract or otherwise.

Any information which is freely available or accessible in public domain or furnished under the Right to Information Act, 2005 or any other law for the time being in force shall not be regarded as sensitive personal data and will not qualify for our safeguard and protection measures.

The user, by providing us with the details (while registration etc.) shall be assumed to have expressly consented to furnish such information to us of his/her own free will and also that he/she acknowledges the fact that the data furnished shall be retained in our database for as long as it is required for the purpose for which the information has been furnished. By providing the sensitive personal information, the user also acknowledges to be aware of the purpose for which the information has been furnished and will be utilized as such.

We will not be responsible for the authenticity of the personal information or sensitive personal data or information supplied by the user to us.

Disclosure of information

We do not disclose the sensitive personal data or information provided to us, to any third party, except

i) with express prior permission of the user whose information is being disclosed;
ii) if such disclosure is necessary for compliance of a legal obligation.

The information can only be shared by us without the prior permission of the user, on receiving a request to the effect from a Government agency.

Our staff can also access this information for the purpose of resolving a problem, addressing a support issue, investigating a suspected violation of the Terms & Conditions, or, as may be required by law.
Our employees access to information described herein are subject to a non-disclosure agreement or policy consistent with the terms in this Privacy Statement.

We undertake that the information of the users shall be used, only for purposes related to the services provided by us and nothing else. We will stop using the information and will either terminate or return the said information, as agreed, within thirty days of the termination of the agreement between us and a user.

Whenever we obtain your personal information, we use commercially reasonable efforts to protect it from unauthorized access or disclosure. However, we are not insurers of the security of your personal information. Accordingly, we assume no liability for any disclosure of data due to errors in transmission, unauthorized third party access or other acts of third parties, or acts or omissions beyond our reasonable control.

Loans Tenure and Details

Loan tenure and rate of interest will be decided by the lender and borrower only. If the lender and borrower are not agreed to the terms we won’t be processing the loan.

– The max tenure of the loan is 36 Months
– The min tenure of the loan is 1 Month
– The Max Rate of Interest is 36% PA
– The Min Rate of Interest is 8% PA

If the lender or the borrower is not happy with the tenure and rate of interest he / she always can reject the offer which was sent.