Privacy Statement — Baumen Loan

1. Introduction

BAUMEN SERVICES PRIVATE LIMITED ("we", "us", "our") is committed to protecting your privacy. This Privacy Statement describes how we collect, use, store, and safeguard personal information when you access and use the Baumen Loan app and our Line of Credit services.

By accessing or using our services, you agree to the terms of this Privacy Statement. It explains how your information may be handled by the parties involved in delivering, operating, and maintaining your credit line.

Notice: You are not required to share your name or other personal information unless you choose to use our services. However, to provide a Line of Credit and enable ongoing access to your approved credit limit, we must verify your identity and collect valid identification documents in accordance with applicable regulations. If verification is not completed, we may be unable to offer or continue your credit line.

2. The Kinds of Personal Information We Collect

When you use Baumen Loan, we may collect and store the following categories of personal information:

Personal information: Name, email address, phone number, date of birth, residential address, and government-issued identification (e.g., PAN, Aadhaar).
Financial information: Bank account details, income level, and loan application details.
Device information: IP address, device type, browser information, and activity data on our platform.
Biometric data: Facial data used for identity verification purposes.

3. How We Collect Your Personal Information

We may collect personal information through the following channels:

Provided by you: When you submit information in the Baumen Loan app or website, or when you contact our support team.
Cookies & tracking technologies: We may use cookies and similar technologies to improve your experience, understand usage patterns, and remember preferences.
Third-party sources: We may receive personal data from third parties (such as credit bureaus or identity verification providers) to help assess eligibility and verify identity.
Credit report: With your explicit consent, we may obtain your credit report and credit-related information from authorized credit bureaus in India. This information is used solely for creditworthiness assessment, risk evaluation, and determining your eligibility for credit services. We do not sell this information or use it for marketing purposes.

4. Purpose of Collecting Personal Information

We use personal information to operate and improve our services, including:

Line of Credit processing: To assess, approve, and manage credit applications and account servicing.
Fraud prevention: To verify identity, help detect suspicious activity, and protect our users and systems.
Customer support: To respond to requests and help resolve issues related to the Baumen Loan app or website.
Service updates and marketing: To send product updates and promotional messages where permitted. You can opt out of marketing communications at any time.

5. Sharing Personal Information with Third Parties

We may share personal information with third parties when needed to provide services or meet legal obligations, such as:

Credit bureaus: To support credit assessment during the application process.
Identity verification providers: To verify identity and help prevent fraud.
Regulatory authorities: To comply with applicable laws and regulatory requirements.
Service providers: To provide operational and technical support (for example, infrastructure, analytics, and customer support tools).

We require third parties to protect information and use it only for the purposes described above and as permitted by applicable data protection requirements.

6. Biometric Data Collection and Usage

To help keep accounts secure and reduce fraud, we may collect biometric information (such as facial images) for identity verification.

Purpose: Used only to verify identity during the application and onboarding process.
Storage & security: We use encryption and access controls to protect biometric information.
Withdrawal of consent: Where available, you may withdraw consent, which may limit access to certain services that require verification.

7. SMS Access for Fraud Prevention

Where permission is provided, we may request SMS access for fraud prevention and identity verification.

Purpose: To analyze relevant transaction-related SMS signals that can help detect fraud and support underwriting.
Security: SMS data is handled securely and used only for fraud prevention and verification purposes.
Data deletion: After verification is completed, SMS data is deleted in line with our internal retention practices.

8. Data Security and Protection

We take reasonable and appropriate measures to protect personal information, including:

Encryption: Sensitive information (including financial and biometric data) may be encrypted in transit and at rest.
Access control: Access to personal information is restricted to authorized personnel and systems on a need-to-know basis.
Security practices: We use commonly accepted security safeguards to help prevent unauthorized access, use, or disclosure.

9. Data Retention Policy

We retain personal information only for as long as needed to provide our services and to meet legal, regulatory, or contractual requirements. When information is no longer required, we take steps to delete or anonymize it using appropriate methods. Retention periods may vary depending on the type of information and applicable obligations.

10. International Data Transfers

As part of our operations, your personal information may be processed or stored in locations outside India, including through infrastructure and service providers. These locations may have different data protection laws. Where transfers occur, we implement safeguards intended to protect your information and comply with applicable requirements.

11. Children’s Privacy Protection

Our services are not intended for individuals under 18. We do not knowingly collect personal information from children. If we learn we have collected such information, we will take steps to delete it. If you believe a child has provided us information, please contact us.

12. Privacy Policy Updates Notification

We may update this Privacy Statement from time to time to reflect changes in laws, our practices, or product features. Updates will be posted on our website and, where required, we will provide additional notice. Continued use of our services after an update means you accept the updated terms.

13. Third-Party Links and Services

Our app or website may include links to third-party websites or services that we do not operate or control. Those third parties may have their own privacy policies and practices. We encourage you to review their policies before sharing any personal information. We are not responsible for the content, privacy practices, or security of third-party sites, and we disclaim liability for their activities.

14. Automated Decision-Making

We may use automated processes to assess eligibility and support decisions related to your credit application. These decisions are based on the information you provide and our evaluation criteria. If you disagree with an automated outcome, you may request a manual review by contacting our customer support team. Automated decision-making helps us process applications efficiently and securely.

15. Legal Basis for Processing

Our legal bases for processing personal information may include:

Consent: Where you have given permission for specific processing activities described in this Privacy Statement.
Contractual necessity: Processing required to provide and service the Line of Credit agreement you enter into with us.
Legal obligations: Processing required to comply with laws and regulations (including financial services and AML requirements).
Legitimate interests: Processing that supports fraud prevention, customer support, service improvement, and platform security.

16. Your Rights and Choices

Depending on applicable law, you may have the following rights:

Access: You can request a copy of the personal information we hold about you and details about how it is used.
Correction: You can request that inaccurate or incomplete information be corrected.
Deletion: You can request deletion of your personal information, subject to legal obligations and legitimate interests that may require retention.
Opt-out: You can opt out of marketing communications at any time by contacting us.
Withdrawal of consent: Where processing is based on consent (such as biometric or SMS access), you can withdraw consent, subject to legal requirements or contractual needs.

17. Changes to This Privacy Statement

We may revise this Privacy Statement from time to time. Changes will be posted on our website and within the app. Where required, we will provide notice of significant changes in accordance with applicable law.

18. Contact Us

If you have questions or concerns about this Privacy Statement or our privacy practices, contact us:

Address: BAUMEN SERVICES PRIVATE LIMITED
Flat No. 567, Pocket-C, Block-A, 3rd Floor,
Lok Nayak Puram, Bakkarwala POLE NO.-MDK,
West Delhi, Delhi, India - 110041
Email: help@baumenservices.com
Phone: +91 8942025628