Terms & Conditions
Privacy-policy
This Privacy Policy of Balancehero India Private Limited (a company incorporated under the Companies Act, 2013 having its registered office at Huda City Centre Metro Station, 5th floor, sector – 29, Gurgaon, Haryana 122001, India (in any case, hereinafter referred to as “BH”, “Balancehero” “we”, “our” or “us”), is an electronic record in the form of an electronic contract formed under the Information Technology Act, 2000 and the rules made thereunder and the amended provisions pertaining to electronic documents / records in various statutes as amended by the Information Technology Act, 2000. The term “you”, “customer”, “user”, “borrower” denotes the person who avails the services of BH by using the mobile application “True Balance” or through any other mode. This privacy policy does not require any physical, electronic, or digital signature.
This Privacy Policy is a legally binding document between you and BH. The terms of this Privacy Policy will be effective upon your acceptance of the same by availing its services. This Privacy Policy specifies the terms related to the management and handling of personal information of users (hereinafter referred to as “the Users”) using the services of BH platform accessible through mobile/smartphone application name True Balance. We understand that you entrust us with certain information to help us provide various Services. In exchange for your trust, you expect and deserve our commitment to treat your information confidential with respect and in accordance with the terms of this Privacy Policy (“Privacy Policy”).
The Privacy Policy describes the policies and procedures followed by BH with respect to collection, use, disclosure and deletion of your information and other data that we gather when you register for using our True Balance Application and Services by creating a user account (“Account”), interact with other Users and third-party websites and services. This document is published and shall be construed in accordance with the provisions of the Information Technology (reasonable security practices and procedures and sensitive personal data of information) Rules, 2011 under Information Technology Act, 2000 and other applicable regulations that require publishing of the Privacy Policy for the specific purposes like collection, use, storage, disclosure, transfer and other uses of sensitive personal data or information.
Please read this Privacy Policy carefully. By using the website/mobile application, you indicate that you understand, agree and consent to this Privacy Policy. If you do not agree with the terms of this Privacy Policy, please do not use our website/mobile application . You hereby provide your unconditional consent or agreements to as provided under section 43a and section 72a of Information Technology Act, 2000.
BH complies with all regulations on the protection of Personal Information specified in laws and regulations applicable to the financial service provider/digital lending app.
We recognize the importance of “Personal Information” including “Sensitive Personal Information” provided by natural persons, under lawful contract. We intend to take reasonable measures to keep such information confidential and may share it with our affiliates and third parties under appropriate arrangements and under the applicable laws and policies.The list of such third parties can be accessed from the below link: https://www.truebalance.io/partner.
We respect your privacy and are committed to protecting it through our compliance with this privacy policy.
This policy describes:
By visiting Platform you agree to be bound by the terms and conditions of this Privacy Policy. If you do not agree please do not use or access our Platform(s). By mere use of the Platform(s), you expressly and unconditionally agree to the terms and conditions of this Privacy Policy and consent to the collection, usage, storage, sharing and handling of the personal information/ sensitive personal data submitted by you in accordance with the terms contained herein.
This policy applies only to the information we collect through our Platform(s), in email, text and other electronic communications sent through or in connection therewith (collectively “User Information”). When you submit user Information on the Platform, it shall be deemed that you have granted us the right to collect, store, process, handle and use such User Information, in accordance with this Privacy Policy (as amended from time to time) and privacy policy of True Credits Private Limited (“wholly-owned subsidiary of Balancehero India Pvt Ltd and a licenced NBFC duly registered with Reserve Bank of India, hereinafter referred to as “True Credits”) in case of Loan applications. Please read this policy carefully to understand our policies and practices regarding your information and how it will be treated in accordance with this policy.
When you use, download, and access the BH by using True Balance Application (“Application”), you are consenting to the collection, transfer, storage, disclosure and other uses of your Information as described in this Privacy Policy. Further, in case you are using our application for availing loan services you are required to please read and agree to the Privacy policy of True Credits available at https://www.truecredits.in/privacy-policy.
The Personal Information Policy of the services of BH is as follows.
For the purpose of this Privacy Policy
While using our Service, We may ask you to provide us your consent with certain personally identifiable information that can be used to contact or identify you. The Personal Information will not be used for purposes other than providing services. Prior approval of the users would be required, in case of change in the purposes.
Personally identifiable information for the purposes of this Privacy Policy may include, but is not limited to:
We may receive Personal information about you from third parties, such as social media services, commercially available sources and business partners. If you access Website through a social media service or connect a service on Website to a social media service, the information we collect may include your user name associated with that social media service, any information or content the social media service has the right to share with us, , and any information you have made public in connection with that social media service. When you access the Website through social media services or when you connect any Website to social media services, you are authorizing BH to collect, store, and use and retain such information and content in accordance with this Privacy Policy.
Further, True Balance shall share the relevant data with True Credits Private Limited/Other Lending Partners and to their lending services providers in the event of Loan Application in accordance with this privacy policy and privacy policy of True Credits/Lending partners (if applicable).
We use this information to provide our Service and to improve and customize the features of our Service.
You can disable access for these permissions in your device settings at any time, or revoke/withdraw access rights from the application, however we recommend that you keep these permissions enabled so that we can provide you uninterrupted service.
The Company will retain your Personal Data only for as long as is necessary for the purposes set out in this Privacy Policy. We will retain and use your Personal Data to the extent necessary to comply with our legal obligations (for example, if we are required to retain your data to comply with applicable laws), resolve disputes, and enforce our legal agreements and policies.
The Company will also retain Usage Data for internal analysis purposes. Usage Data is generally retained for a shorter period of time, except when this data is used to strengthen the security or to improve the functionality of Our Service, or We are legally obligated to retain this data for longer time periods.
We shall preserve the records pertaining to the identification of the borrowers and their addresses obtained while opening the account and during the course of business relationship, for at least five years after the business relationship is ended.
You may write to us in case you want us to remove your data from our records. We will ensure to fulfill your request subject to any requirement of retaining information as per applicable law.
The Company may use Personal Data for the following purposes:
Your information, including Personal Data, is processed at the Company's operating offices and at any other places where the parties involved in the processing are located, in accordance with applicable laws. The Company ensures that your information, including Personal Data, is processed and stored in servers located in India, in accordance with applicable laws.
The Company shall share the data to third parties in the manner as specially provided in this privacy policy.
Your consent to this Privacy Policy followed by your submission of such information represents your agreement to the said transfer. However, the Company ensures that the third parties with whom the data is shared are compliant with the technology standards/ requirements on cybersecurity stipulated by RBI and other agencies, or as may be specified from time to time.
Further, the application gives the option to the customers to restrict sharing of the data with Third Parties.
The Company will take all steps reasonably necessary to ensure that your data is treated securely and in accordance with this Privacy Policy and no transfer of your Personal Data will take place to an organization or a country unless there are adequate controls in place including the security of your data and other personal information.
You further agree that such disclosure, sharing and transfer of your Personal Information shall not cause any wrongful loss to you or to any third party, or any wrongful gain to us or to any third party.
You hereby unconditionally agree and permit that except as otherwise provided under this Privacy Policy, BH will disclose your Personal Information to third parties only in the following limited circumstances:
By using our services, you agree and consent to our collection, storage, processing and sharing of information (including sensitive personal data or information) about you or your use of services with third parties or service providers identified above.
When we share, process your information (including sensitive personal data or information) about you or your use of services, we ensure that it is shared or processed in compliance with applicable laws.
It is clarified that any information that 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 or information for the purposes of this Privacy Policy.
If you do not agree to each and all of these terms and conditions, please do not use the website/ app to avail Services from BH. You may at any time while availing the Services withdraw your consent by contacting us as described in the “Contact Us” section. However, in the event of withdrawal of consent, We may not be able to serve you any further, also we will retain information which is required for fulfilling regulatory or legal requirements.
The security of your Personal Information is very crucial to us. It is our endeavor to protect your Personal Information against any type of unauthorized usage. To do this, BH has adopted measures like internal reviews of the data collection, storage and processing practices and security measures, including appropriate encryption and physical security measures to guard against unauthorized system access where your personal information is stored. BH has taken measures applicable under law to protect your information.
We have implemented technical controls like firewall, encryption, password, WAF, SOC, Anti-virus etc. and management controls like access management, log review, NDA etc. for better safety of the information given by you.
BH does not store the card details (Card Number, CVV, Validity etc.) in its servers. We only store last 4 digits of the card number in line with the card tokenization guideline of RBI. Additionally, in order to comply with the UIDAI guidelines, we store only Aadhaar Reference number in our servers.
BH may share information with other third parties under strict confidential/non-disclosure agreement but won’t be liable for the security breach of the third party. BH cannot also be held responsible for the loss or damage to you, as a result of you providing the information to third parties.
BH has designed and implemented Incident Management policy which shall be followed in case of any security incident.
Our Service does not address anyone under the age of 18. We do not knowingly collect personally identifiable information from anyone under the age of 18. If you are a parent or guardian and you are aware that your child has provided Us with Personal Data, please contact Us. If We become aware that We have collected Personal Data from anyone under the age of 18 without verification of parental consent, We take steps to remove that information from Our servers.
If We need to rely on consent as a legal basis for processing your information and your country requires consent from a parent, We may require your parent's consent before We collect and use that information.
Your Personal data is immediately disposed off after the purpose of its collection has been fulfilled, in accordance with this policy and other applicable laws. The above information, unless otherwise required by law, shall not be used for any other purposes, other than the original purpose as mentioned in this policy document.
You have the right to delete or request that we assist in deleting the Personal Data that we have collected about you.
You may update, amend, or delete your certain information at any time by signing into your Account, if you have one, and visiting the account settings section that allows you to manage your personal information. You may also contact Us to request access to, correct, or delete any personal information that you have provided to Us.
Please note, You shall be able to edit or delete only that information which does not impact the services provided by us to you or information which we are required to hold in accordance with the applicable regulations. You also may not be able edit the information which has been verified through Government bodies during the KYC process, in order to update such information re-KYC needs to be initiated by you. You are also entitled to review the information provided and ensure that any personal information or sensitive personal data or information found to be inaccurate or deficient be corrected or amended as feasible.
Please note, that the application in compliance with the applicable laws and guidelines give you the right to revoke access to the permissions given by you for using the application or to avail the services.
Personal information printed on paper is shredded or incinerated for disposal. Personal information saved in a digital format is deleted by using technology that prevents the recovery of deleted records.
BH has designated an administrator in charge of the management of the personal information of Users and strive to protect the personal information. He/she may be accessed as under:
Address: Huda City Centre Metro Station, 5th floor, sector – 29, Gurgaon, Haryana 122001, India
E-mail: cs@balancehero.com
A “cookie” is a small piece of information stored by a web server on a web browser, so it can be later read back from that browser. The APP may use cookies and tracking technology depending on the features offered.
No personal information/data/details will be collected via cookies and other tracking technology; however, if you previously provided personally identifiable information, cookies may be tied to such information. Aggregate cookie and tracking information may be shared with third parties.
By submitting your personal information, you consent to the use of that information by us as detailed in this policy. You hereby expressly and irrevocably authorize BH / its partners / affiliates to collect, store, share, obtain and authenticate any aspect of your personal information / KYC either directly or through any of the authorized agencies and disclose such information to our agents /contractors / service providers and to also use such information in the manner that may be required by BH/ its partners / affiliates including for the purposes of its business and for such time period as we may deem fit ,within the scope of this privacy policy.
In this regard, you expressly and irrevocably authorize True Balance/ its partners / affiliates to collect, use, verify and authenticate your personal identity information / KYC in any manner as may be deemed fit.
In relation to the payment gateways used by you to do payments to different sites or for the services, these gateways are managed by the third parties and hence are controlled by the same. At some point some of the information is saved in these third-party sites. BH is not responsible for any type of loss or damage to you, with regard to the information held by these third-party sites. However, these payment gateways are digitally encrypted, thereby providing the highest possible degree of privacy, security, and care.
Our Services may also have links to third-party websites and services that are outside our control. Further, We, Our group companies, Our affiliates, and the directors and employees (“the Group”) accept no liability and will not be liable for any loss or damage arising directly or indirectly (including special, incidental or consequential, punitive, or exemplary loss, damage or expenses) from Your use of any mobile application or any site or inability to use by any party, howsoever arising, and including any loss, damage or expense arising from, but not limited to, any defect, error, omission, interruption, imperfection, fault, mistake or inaccuracy with any mobile or online application, its Contents (material, information, data, money market movements, news items, etc.) or associated services, or due to unavailability of any application or any part thereof or any Contents or associated services even if the Group are advised of the possibility of such damages, losses or expenses.
BH is not in any way responsible for the third-party sites and the privacy policy doesn’t cover them. For the same you will have to read the specific privacy policy of the third-party sites.
We are not in a position to control or guarantee the accuracy, integrity, or quality of the information, data, text, software, music, sound, photographs, graphics, videos, messages or other relevant materials available on the Linked Sites. To clarify, please be aware that the information you provide on the Linked Sites shall be governed by policies of the Linked Sites which you view.
This Policy shall be governed by and construed in accordance with the Indian laws The courts at Gurgaon (HR) shall have exclusive jurisdiction in relation to any disputes arising out of or in connection with this Policy.If any dispute arises between BH and the User in connection with or arising out of the validity, interpretation, implementation or alleged breach of any provision of the Policy, such dispute shall be referred to and finally resolved by arbitration in accordance with the Indian Arbitration and Conciliation Act, 1996 for the time being in force, which rules are deemed to be incorporated by reference in this clause. There shall be one (1) arbitrator and the seat of the arbitration shall be Gurgaon, India.
Users have the right, at any time, to know whether their personal information has been stored and can consult BH to learn about their contents and origin, to verify their accuracy or to ask for them to be supplemented, cancelled, updated or corrected, or for transformation into anonymous format or to block any data Requests should be sent to the administrator in charge of the management of the personal information of Users at the contact information set out above.
This Application does not support “Do Not Track” requests. To determine whether any of the third-party services uses honor the “Do Not Track” requests, please read their privacy policies.
We may amend, alter, modify or update the Privacy Policy from time to time and same would be conveyed to you by posting it as a notice on the website and Application, along with the link to the updated policy, so that you may be aware of the information we collect and how we use it at all times. Use of information we collect now is subject to the Privacy Policy in effect at the time such information is used. Users are bound by any changes to the Privacy Policy when they continue to use the Website(s) and/or Application(s) after such changes have been first posted.
WITHOUT LIMITING THE FOREGOING, EVERYTHING ON THIS SITE, THE CONTENT, SERVICES AND MATERIALS IN THE SITE ARE PROVIDED "AS IS" AND ON AN "AS AVAILABLE" BASIS WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND EITHER EXPRESS, IMPLIED OR STATUTORY. WE DO NOT MAKE ANY REPRESENTATIONS, WARRANTIES OR ENDORSEMENTS REGARDING THE ACCURACY, RELIABILITY, USEFULNESS OR COMPLETENESS OF THE SERVICES, CONTENT OR MATERIALS IN THE SITE OR ANY SITE LINKED TO IT. TO THE MAXIMUM EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, WE DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, DESIGN, ACCURACY, CAPABILITY, SUFFICIENCY, SUITABILITY, CAPACITY, COMPLETENESS, AVAILABILITY, COMPATIBILITY OR ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE. WE DO NOT WARRANT THAT THE SITE OR THE SERVICES, CONTENT, MATERIALS OR FUNCTIONS CONTAINED IN THE SITE WILL BE CONTINUOUSLY AVAILABLE, UNINTERRUPTED OR ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT THE SITE, SERVICES, CONTENT, MATERIALS OR THE SERVERS THAT MAKE THE SITE OR SUCH SERVICES, CONTENT AND MATERIALS AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS OR ARE ACCURATE OR COMPLETE. WE DO NOT WARRANT OR MAKE ANY REPRESENTATIONS REGARDING THE USE OR THE RESULTS OF THE USE OF THE SERVICES, CONTENT, MATERIALS, FUNCTIONS OR PRODUCTS AVAILABLE THROUGH THE SITE IN TERMS OF THEIR CORRECTNESS, ACCURACY, RELIABILITY, OR OTHERWISE. you ASSUME THE ENTIRE COST OF ALL NECESSARY SERVICING, REPAIR, OR CORRECTION. APPLICABLE LAW MAY NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU.
Neither BH and its affiliates, nor their or their affiliates' officers, employees or agents shall be liable to you or anyone else for any loss, damage or expense arising out of any access to or use of this Site / Services or any site linked to it, including, without limitation, any loss of revenues or profits, loss of business or loss of data, indirect, incidental or consequential loss.
You agree to indemnify, save, and hold BH, its affiliates, contractors, employees, officers, directors, agents, third party associates, licensors, and partners harmless from any and all claims, demands, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising out of or related to your use or misuse of the services or of the Site, any violation by you of the Terms of this Privacy Policy, or any breach of the representations, warranties, and covenants made by you herein or your infringement of any intellectual property or other right of any person or entity, or as a result of any material posted/ transmitted by you on the Site including ones that are threatening, libelous, obscene, harassing or offensive.
BH reserves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify BH, including rights to settle, and you agree to cooperate with BH’s defense and settlement of these claims. BH will use reasonable efforts to notify you of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it.
Notwithstanding anything contained in the policy, BH won’t be responsible for any loss or damage to you in case of any Force Majeure Event, which is unforeseeable or not within the control of BH. A Force Majeure Event shall mean any event that is beyond the reasonable control of BH and shall include, without limitation, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorized access to computer, computer system or computer network, computer crashes, breach of security and encryption (provided beyond reasonable control of BH), power or electricity failure or unavailability of adequate power or electricity.
you agree that no transmission on the internet can be said to be fully secured, hence, BH cannot ensure the security of all the information provided by you and you do it on your own accord. BH may entrust a third person with the management affairs of personal information for successful service operation and contract performance to following entities, and entities and will manage trustee to protect Personal Information from theft, leak, loss, falsification, harm in accordance with applicable laws and regulations.
In accordance with Information Technology Act, 2000 and rules made there under or in the event you wish to make a complaint regarding any violation of the provisions of the Privacy Policy, or in case of any complaint related to any other matter which concerns you, you can contact the grievance redressal officer as detailed out in our Customer Grievance Redressal Policy placed on our website.
Your complaint shall be addressed as per the Grievance redressal mechanism of the Company
This privacy policy takes effect from December 01, 2022. (Last amended 17 November 2023)
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