The Babu Safe Loan application is provided by BABUJI CHIT FUND PRIVATE LIMITED. ("Babu Safe Loan", "we", "us", or "the Company"), with its registered office at H NO 11-05-18 2ND FLOOR, OPP: ZILLA PRAJA PARISHAD Khammam,Telangana 507002 India. Through the Company, designated banks and financial institutions collaborate with Babu Safe Loan to offer you the respective services ("Services").
As a professional financial consulting entity, we have established a strategic partnership with Vaishali Securities Limited, an authorized and regulated financial institution, to deliver efficient, compliant loan products, and related financial services (collectively referred to as "Services"). Under this collaborative model, we are committed to providing users with secure, transparent, and convenient credit solutions, ensuring full compliance with regulatory standards.
To provide you with services through the Babu Safe Loan application, we (the Company) and our lending partners need to collect various data and information from you with your prior express consent. The manner in which we (the Company) and our lending partners collect, retain, share, store, and process this data and information is described in this Privacy Policy ("Policy"). By setting up an account on this application, you agree to the processing, storage, use, and sharing of the data you provide in accordance with this Policy.
We may revise this Policy and update the Services and application from time to time, so please visit this page regularly to stay informed about any changes we make. If you disagree with any part of this Policy, please stop using our Services immediately. Also, read our Terms of Use ("Terms"), which describe the terms under which we provide services and the terms under which you may use our services.
You can learn more below about how we share information with our lending partners. Unless stated otherwise, this Policy applies to all our Services.
This Policy includes and incorporates our Terms as well as agreements you sign to use our services and those of our lending partners. Words and phrases not defined in this Policy have the same meanings as set forth in the Terms.
If you use services from any lending partner of the Company, then Section 1 of this Policy will apply to you.
To deliver services via the Babu Safe Loan app, we (BABUJI CHIT FUND PRIVATE LIMITED ) and our lending partners require your prior express consent to collect various data and information. This Privacy Policy ("Policy") details how we and our partners collect, retain, share, store, and process such data. By creating an account on the app, you agree to the processing, storage, use, and sharing of your provided data in accordance with this Policy.
We may update this Policy and modify the Services or app periodically. Please review this page regularly to stay informed of changes. If you disagree with any part of this Policy, discontinue use of our Services immediately. Also, please read our Terms of Use ("Terms"), which outline the conditions for our service provision and your use of the Services.
Below you can find information about how we share data with our lending partners. Unless otherwise stated, this Policy applies to all our Services.
This Policy incorporates our Terms and any agreements you sign to use our Services or those of our lending partners. Terms not defined here have the same meaning as in the Terms.
If you use services from any of BABUJI CHIT FUND PRIVATE LIMITED lending partners, Section 1 of this Policy will apply to you.
1. What Data is Collected?
Summary: We, i.e., the lending partners, specify what data is collected and how it is collected.
By using the application, you consent to provide data to us and our lending partners in the following ways with prior express consent. We collect the data you provide to ensure that we can deliver services to you in the best possible way. Our lending partners use this data to underwrite (i.e., assess the risk they are taking) any potential loan offered to you and determine the rate for such loans. The data requested from you helps us and our lending partners provide services in a robust and user-friendly manner. We detail how we, our lending partners, and our joint lending partners collect data as follows:
1.1 Data Collection Methods: Data entered during registration and use of our services
1.2 Collected Data
Babu Safe Loan Account Data: We and our lending partners collect the data you provide when creating or updating a Babu Safe Loan account. This includes your name, phone number, email ID, date of birth, postal code, nature of work, official work email address, employer name, monthly income, and marital status. We or our lending partners may request additional information later to verify the authenticity of your information or based on any additional features added to the application.
Financial and KYC Information: When you accept the tentative terms of a loan, we and our lending partners collect the data you provide to us. This includes your photograph, Aadhaar number, PAN, bank account number, IFSC, and proof of address (which can be your electricity bill, lease/rental agreement, gas bill, passport, or driving license, or any other document recorded by our application).
KYC Information: When you accept the preliminary terms of a loan offer, we and our lending partners will collect the data you provide for identity verification and loan processing. This includes: Your photograph for profile authentication, Aadhaar number, PAN, bank account number and IFSC, Proof of address. All KYC data is collected with your express consent and processed in compliance with applicable financial regulations. This information is encrypted during transmission and stored securely to prevent unauthorized access, ensuring full adherence to data protection standards.
Additional Requested Data: You may need to provide additional information to the lending partners to process your loan application. Such additional information may include (but is not limited to) bank statements, Goods and Services Tax returns, salary, and/or income statements. This data should be provided to the lending partners through us.
Feedback Data and Other Data: Includes the following: If you call our call center, we may record the information you provide to serve you or record calls for quality and training purposes. If you provide any feedback or comments to us about the application or as part of our research program to improve the application.
App List: To provide more accurate credit assessments and personalized services, we need to access information about the applications on your device. This helps us comprehensively understand your spending habits, financial situation, and credit risk to customize the most suitable credit products for you. We only access the application name and type, and all data transmission is encrypted to ensure privacy and security.
Camera: In the Babu Safe Loan apps, we may request your camera permission to assist with the onboarding process by guiding you through completing the Know Your Customer (KYC) procedure. This may involve capturing documents to verify your personal information, taking photos for profile creation, or uploading required materials for loan applications. Any camera data collected will be securely uploaded to our app servers https://api.babusafeloan.asia/, treated with strict confidentiality, and not used for any other purposes. You can revoke or re-authorize camera permissions at any time. For inquiries, please contact our customer support team.
Device Information: Our application collects and monitors device-related information, including hardware specifications, operating system details, serial numbers, user profiles, and mobile network data. This enables unique device identification to protect against unauthorized access or actions, ensuring account security.
Location: To ensure smooth application processing and provide nearby services, we collect location data based on your IP address and device geolocation. We only access your location when you are actively using the app, not in the background. This data is used to optimize service adaptability and match available services in your geographic area, with full protection of your privacy and security.
User Personal Information: Our application collects user account data, including email addresses and names, for logging into the application. This information is part of the registration process to access our services and is also used to auto-fill relevant fields during our application interface processes. Our application also collects phone numbers for verification to check the active SIM status on the device, uniquely identify you, and prevent fraud and unauthorized access.
1.3 Data Collected from Your Use of Our Services: Usage Data: We collect data about how you interact with our services. This includes data such as access dates and times, app features or pages viewed, app crashes, and other system activities.
Transaction Information: We, our lending partners, and joint lending partners collect transaction information related to the use of our services, including the type of service requested, date and time the service was provided, available loans, interest payable, and payment methods.
2.Data Usage and Purposes
Summary: BABUJI CHIT FUND PRIVATE LIMITED and our lending partners collect and use your data to maintain service currency and optimize delivery, ensuring relevance and efficiency in all interactions.
2.1 Enabling App Functionality and Services
We utilize collected data to customize, maintain, and enhance our services, including:
Creating and managing Babu Safe Loan accounts
Assessing loan eligibility, estimating terms, and tracking disbursement/repayment cycles
Enabling features for adding/deleting bank accounts for fund transfers
Facilitating loan history review and other evolving app functionalities
Conducting internal operations (bug resolution, data analysis, testing)
Monitoring usage trends to improve service delivery
Loan Processing & KYC Verification
Lending partners use your data to:
Evaluate creditworthiness, verify employment, and validate KYC documents
Process loan applications and authenticate submitted identification (Aadhaar, PAN, address proof)
Access central KYC registries with your express consent, as required by UIDAI regulations
Joint Loan Collaborations
For joint loan products, partners may:
Analyze credit profiles and loan eligibility via government-authorized portals
Obtain KYC details from central registries using provided information
Customer Support & Training
Data supports:
Resolving user inquiries and enhancing agent training
Improving UI/UX through research and automated issue detection (e.g., document clarity, fraud screening)
Communication & Marketing
We may:
Enable in-app calling features and contact you via authorized channels
Promote services using non-sensitive feedback/ratings (with opt-out options)
Share financial product updates via email, SMS, or app notifications
Automated Decision-Making
The app may use:
Automated responses for customer queries
Algorithmic tools to validate document integrity (e.g., IFSC correctness)
Legal Compliance & Innovation
Data is used:
To address legal claims, regulatory requests, or official investigations
To develop new products and services, subject to applicable laws
By using the app, you consent to data processing as outlined, including sharing with authorized partners for the specified purposes.
3. How We Share Collected Information
Summary: Your data is not sold, but may be shared with contractual third parties to facilitate service delivery and information processing. We do not engage in data marketing agreements.
We may enter into data-sharing arrangements or disclose collected data to provide services and new products. Details of how we share data with lending partners include:
Sharing with Lending Partners: We collaborate with designated NBFCs (Non-Banking Financial Companies) to offer loan products on the app. Your information may be shared with these partners to facilitate loan transactions. A list of lending partners is available on our website.
Legal Disclosure: We may disclose information to government bodies or law enforcement when required by law, regulation, or legal process.
4.Retention of Personal Data
We retain data only for as long as necessary to fulfill the purposes outlined in this policy, including legal obligations, dispute resolution, and enforcement of agreements.
Operational Retention: Usage data is typically retained for short periods, except when used to enhance security, improve features, or meet legal retention requirements.
Regulatory Compliance: Borrower identity and address records collected at account opening are retained for at least five years after the termination of the business relationship.
Data Deletion Requests: You may request data deletion by emailing help@babuchitfund.com. We will comply with requests subject to legal retention obligations.
5. Security of Personal Data
We implement rigorous security measures to protect your personal information, including:
Technical Controls: Encryption, firewalls, password protection, WAF, SOC, antivirus software, and other technical safeguards.
Administrative Controls: Access management, log reviews, non-disclosure agreements (NDAs), and internal data processing reviews.
Card Data Policy: We do not store card details (number, CVV, expiry date) on our servers.Third-Party Liability: Data shared with third parties under confidentiality agreements is subject to their own security practices; we are not liable for their breaches.AML Compliance: Suspicious transactions are reported to enforcement agencies as required by the Prevention of Money Laundering Act, 2002.
6. Your Consent
By providing personal information, you irrevocably authorize Babu Safe Loan and partners to collect, store, share, and verify your data (including KYC) through authorized agencies. This authorization includes use for credit facilitation, business purposes, and any period we deem necessary.
To withdraw consent, email our Data Protection Department at help@babuchitfund.com.
7. Your Data Rights
You may exercise the following rights by contacting help@babuchitfund.com:
Right to Rectification: Request correction of inaccurate or incomplete data. We aim to process requests within 7 days.
Right to Withdraw Consent: Withdraw specific consents via email, though this may limit app functionality. Data may be retained where required by law.
Right to Opt-Out: Disable push notifications through device settings, noting potential impacts on app functionality.
8. Children's Privacy
Our services are not intended for users under 18. If we become aware of personal information from a child, we will delete the data and terminate the account.
9. Communications from Us
We may contact you via phone, SMS, email, or push notifications for:
Service updates, educational content, and promotional offers
Maintenance notifications and security/privacy-related communications
By creating an account, you consent to receive such communications via our chosen channels.
10. Contact Information
Data Processing Inquiries: Email help@babuchitfund.com
Lending Partner Complaints: Email contact@vaishalisecuritiesltd.com