Privacy Policy

Thank you for choosing FundLotus. Your privacy is of utmost importance to us. This Privacy Policy explains how your data is collected, used, stored, and protected when you engage with our application. We encourage you to read this document carefully.

Operator & Legal Responsibility

FundLotus is owned and operated by BAYPHASE (INDIA) PRIVATE LIMITED , which has been officially authorized by FMI INVESTMENTS PRIVATE LIMITED , an RBI-registered NBFC (CIN: U74899DL1991PTC045201), to provide lending services in India.

Through this authorization, FundLotus operates in full compliance with Indian financial regulations and RBI lending frameworks, ensuring that all loan services are offered legally and transparently under the supervision of our NBFC partner.

I. Our Privacy Promise

We follow the data protection norms established under the Information Technology Act, 2000 and its relevant guidelines. FundLotus handles your personal information fairly, transparently, and for lawful purposes only. We apply encryption, firewalls, and other safeguards to protect your privacy throughout your experience.

II. Permissions and Usage

To ensure a smooth user journey and deliver necessary services, FundLotus may request access to specific features on your mobile device. All permissions are requested transparently, and your data is never sold or misused.

Camera

Required to scan identity documents for KYC verification. This permission is mandatory to complete the registration process.

Location

Used to verify service availability in your area, assist with risk profiling, and prevent fraud. Location data is encrypted during transmission and stored only temporarily. This permission is optional and can be declined; however, some location-based services may be limited if denied.

Storage Access

Allows you to select and upload supporting documents during your loan application. This permission is optional; you may choose not to grant it, but some document upload features will be unavailable.

Contacts

Access is granted only with your explicit consent and is used solely to simplify filling emergency contact information. No contact data is shared externally. This permission is optional and can be declined without affecting core app usage.

Facial Recognition / Liveness Check

Enables real-time selfie capture to verify your identity securely. Captured images are encrypted and transmitted to our verification server (https://api.fund-lotus.com) and deleted immediately after use.

IDFA

Helps us understand how users interact with the app and personalize offers. You have full control to disable or reset this identifier via your iOS privacy settings at any time. This permission is optional and does not affect essential app functionality.

III. How We Use Your Information

Your personal information is collected only to provide a regulated digital lending service. We process this data to:

Validate your identity and perform KYC checks

Assess eligibility and review loan applications

Generate legally binding digital agreements

Provide real-time support and assistance

Detect fraud and manage security risks

Ensure compliance with financial laws and guidelines

Improve product performance based on aggregated behavior insights

IV. Information Sharing & Disclosure

We may share your information under the following limited circumstances:

With authorized financial partners or service providers under strict confidentiality terms

With regulatory or law enforcement authorities if required by applicable laws

With courts or legal forums if mandated under judicial order or government directive

We do not sell, rent, or use your personal data for marketing purposes without your explicit consent. Customer interactions may be monitored for compliance and quality assurance.

V. Your Data Rights

As a user of FundLotus, you have rights under Indian data protection law, including the right to:

Request access to your personal data

Request updates or corrections to inaccurate information

Request deletion of information no longer necessary for legal or operational reasons

Restrict or object to data processing under certain conditions

To exercise these rights or submit a concern, please contact:

Email: [email protected]

VI. Policy Updates

We may update this Privacy Policy from time to time to reflect operational, legal, or regulatory changes. You will be notified within the app or by email when significant revisions are made. Continued use of the app after updates indicates your acceptance of the revised terms.

Questions or Concerns?

We’re committed to transparency and accountability. If you have questions about how we handle your data or need support in understanding this policy, don’t hesitate to contact us via email.