LoanVanta – Privacy Policy
Effective Date: Jun 16, 2025
1. About This Privacy Policy
This Privacy Policy describes how Konsala Super Technology Private Limited (“LoanVanta”, “Company”, “we”, “us”, or “our”), together with its regulated lending partner S.B.N. Leasing and Finance Limited, collects, uses, stores, discloses, and protects personal information when users access or interact with the LoanVanta mobile application (“Platform”).
LoanVanta provides a digital experience designed to facilitate access to a pre-approved Line of Credit offered by an authorized financial partner. Users may utilize approved credit limits and complete repayments subject to applicable terms.
This Policy is prepared with reference to applicable Indian laws and regulatory requirements, including the Information Technology Act, 2000, IT Rules, 2011, Digital Personal Data Protection Act, 2023, and relevant RBI digital lending requirements.
By registering, accessing, or continuing to use the Platform, you acknowledge and agree to the practices described in this Policy.
2. Consent and Acceptance
Your use of LoanVanta indicates consent to collect and process information for the purposes outlined in this Policy.
Where required, explicit consent will be requested before accessing particular categories of information.
Users may request withdrawal of consent through the designated grievance contact. Withdrawal may affect access to verification, credit line assessment, account servicing, or related functionality.
3. Categories of Information Collected
LoanVanta may collect the following categories of information:
- A. Identity Information
Name, date of birth, gender, photograph, and related identity details. - B. Contact Information
Mobile number and communication details. - C. Verification Documents
KYC information including PAN, Aadhaar, and supporting verification records. - D. Financial and Credit Information
Bank account information, UPI details, repayment records, transaction information, and account servicing data. - E. Device and Technical Information
Device identifiers, operating system details, IP address, network information, app activity logs, and location information where permission is provided. - F. Communications and Support Records
Transactional messages, customer support interactions, and service notifications where applicable. - G. Product Usage Information
Feature interaction, app activity, service preferences, and operational analytics.
With your consent, LoanVanta may also obtain credit-related information from authorized credit bureaus solely for eligibility assessment, risk review, and credit line facilitation.
Personal information is not sold and is not processed for unrelated advertising purposes.
4.Financial SMS Access
Financial Information Collection through SMS
With your explicit consent, Loanvanta may access and process certain financial SMS messages stored on your device to support our lending services and improve your financial
assessment experience.We only collect and analyze financial transaction-related SMS messages that are relevant to your credit profile and loan services.
Examples of financial SMS information may include:
Bank transaction alerts
Credit and debit notifications
UPI payment notifications
Loan repayment reminders
EMI payment information
Account balance related notifications
Other messages from authorized financial institutions
What SMS Data We Collect
Loanvanta may process limited information extracted from financial SMS messages, such as:
Transaction date and time
Transaction amount
Transaction type (credit/debit)
Financial institution or sender information
Loan repayment or EMI related details
We do not collect or process the content of personal communications.
4.1 What SMS Data We Do Not Access
Loanvanta does not access, collect, store, or process:
Personal conversations
Private messages
One-time passwords (OTP)
Promotional or marketing SMS
Social messages
Messages unrelated to financial transactions
Purpose of Financial SMS Processing
Financial SMS data is used only for legitimate lending and financial service purposes, including:
4.2 Credit Assessment
To help evaluate your financial profile, repayment capability, and loan eligibility.
4.3 Fraud Prevention
To identify suspicious activities, prevent fraud, and maintain the security of our lending platform.
4.4 Loan Management
To provide better loan management services, including repayment tracking and account management.
4.5 Improving User Experience
To reduce manual data entry and provide faster and more convenient loan application services.
4.6 User Consent and Control
Before accessing financial SMS information, Loanvanta will request your permission through a clear consent screen.
You may:
Grant or deny SMS access permission
Withdraw permission at any time through your device settings
Request deletion of collected financial information according to our data deletion policy
If you deny SMS permission, you may still use available services, although certain features such as automated financial assessment may be limited.
4.7 Data Security and Protection
Loanvanta applies appropriate technical and organizational measures to protect your financial information against unauthorized access, disclosure, alteration, or misuse.
Financial SMS data is:
Encrypted during transmission
Accessed only by authorized systems and personnel
Used only for the purposes described in this Privacy Policy
Not sold, rented, or shared for advertising purposes
Data Sharing
Loanvanta may share limited financial information only with authorized partners involved in providing lending services, such as:
Regulated financial institutions
Lending partners
Credit assessment service providers
Fraud prevention service providers
Such sharing is performed only when necessary for providing loan-related services and in accordance with applicable laws and regulations.
4.8 Data Retention and Deletion
Financial SMS information will only be retained for as long as necessary to provide our services, comply with legal obligations, resolve disputes, and enforce agreements.
You may request deletion of your personal data by contacting us through the support channels provided in this Privacy Policy.
5. How Information Is Used
Information collected through LoanVanta may be used for:
- Identity verification and regulatory compliance
- Credit line assessment and eligibility review
- Processing utilization requests and repayments
- Customer support and account servicing
- Fraud prevention and account protection
- Analytics and service enhancement
- Compliance with legal and regulatory obligations
Processing activities are performed only for legitimate operational, contractual, or legal purposes.
6. Data Retention
Information is retained only for the period necessary to provide services, satisfy regulatory requirements, maintain records, or resolve disputes.
Where required by law or operational obligations, certain financial and account records may be retained for up to eight (8) years following account closure.
After retention requirements expire, information is deleted, anonymized, or securely archived.
7. Information Sharing
LoanVanta may disclose information only under appropriate circumstances, including:
- Regulated lending partner for credit line evaluation and servicing
- Authorized vendors supporting payments, verification, cloud infrastructure, analytics, or customer operations
- Government agencies or regulators when legally required
- Auditors, advisors, and professional service providers
- Business restructuring, mergers, acquisitions, or related transactions
LoanVanta does not sell user personal information.
8. Security Practices
We maintain administrative, technical, and organizational measures intended to protect personal information.
Security practices may include:
- Encrypted transmission protocols
- Restricted internal access controls
- Monitoring and security testing
- Operational and confidentiality controls
Although reasonable safeguards are applied, no method of storage or transmission can guarantee complete security.
9. Cookies and Similar Technologies
LoanVanta may use cookies, SDKs, and similar technologies to maintain functionality, understand performance, and improve user experience.
Users may adjust permissions through device settings; however, certain services may become unavailable.
10. Your Privacy Choices
Subject to applicable law, users may have the ability to:
- Access available personal information
- Correct inaccurate information
- Withdraw consent where applicable
- Request deletion in eligible circumstances
- Submit complaints through designated channels
Requests may be reviewed in accordance with legal and operational requirements.
11. Regulatory Framework
LoanVanta operates in accordance with applicable Indian legal and regulatory requirements, including:
- Information Technology Act, 2000
- IT Rules, 2011
- RBI Digital Lending requirements
- Digital Personal Data Protection Act, 2023
12. Changes to This Policy
This Privacy Policy may be updated periodically.
Updates may be communicated through the Platform, website, or other available channels.
Continued use following publication of changes indicates acceptance of the revised Policy.
13. Contact Information
Support & Grievance Contact
Phone: +91 8002778746
Email: help@konsala.com
Address:
704, 7th Floor, Palm Court,
Mehrauli, Sector 16, Industrial Estate,
Haryana – 122007, India
Working Hours:
Monday to Friday
9:00 AM – 6:00 PM