Disclosure

ECS Credit is committed to taking the disclosure of non-personal and personal information very seriously and the company shall only share any of the users' data strictly as required by the law, regulatory requirements and best practices in the industry. Although all efforts are taken to maintain confidentiality, it is the knowledge of customers that sending information to the approved third parties, banks, regulating authorities or service providers involves certain risks beyond the control of ECS Credit.

The information is disclosed solely for good purposes, which include processing loan applications, creditworthiness, regulatory and legal requirements, fraud prevention, and improvement in the quality of services offered. ECS Credit either restricts disclosure to the lowest possible information necessary for such purposes or upholds contractual obligations, information confidentiality and security measures to hold third-party recipients liable to prevent misuse or unauthorized access.

Authorized third parties can include, among others, the business partners like banks and NBFCs, credit bureaus, the IT and infrastructure business, the regulatory bodies, police and other businesses to which the business or corporate transactions take place. Customers have to understand that even though ECS Credit implements strict security and confidentiality measures, it cannot guarantee total security when information is transferred to third parties, as those can be potentially subject to risks that the company will not be able to control at that moment.

Regulatory direction, law, court orders, tax examinations or statutory investigations can require some disclosures. ECS Credit is at liberty to make them at their own will without any prior notice to the user and any disclosure that is necessitated by the law must be limited to the minimum extent necessary by the law. Users are aware that this is a disclosure that is required under law and no longer at the pleasure of ECS Credit and this is under the exclusive jurisdiction of the law and regulatory regime.

The user data may be sold as business properties in business transactions such as restructuring, joint ventures, mergers, or acquisitions. ECS Credit strives to guarantee that the same level of privacy and confidentiality is available to any successor or the acquiring company; however, once the information is sold, the new company is free to implement its policies regarding the information and this will offer the same degree of protection as the Privacy Policy of ECS Credit.

ECS credit also employs third-party service providers in its operational activities, such as cloud hosting, data analysis, fraud prevention, communications services and other technology infrastructure. Only the information necessary to make them deliver their services is disclosed to such providers. This group of providers is under contractual obligation to maintain the privacy of user information and its security. The customers understand that the role of ECS Credit is to go as far as to select and monitor the above-mentioned service providers carefully, without going to defaults or deficiencies on the side of these individuals, other than to what can be reasonably controlled.

Using the services of ECS credit, customers use smart consent to the methods of disclosures mentioned above. It is also recommended that customers should be informed about the method of disclosure and legal status by reading the Privacy Policy of ECS Credit and any amendments to the Privacy Policy. Further utilization of services by ECS Credit will be deemed as an agreement to the above methods of disclosure.

The loan amount offered ranges from a minimum of ₹5,000 to a maximum of ₹2,00,000, with a tenure of up to 365 days. The applicable Annual Percentage Rate (APR) ranges between 15% and 31%, depending on the applicant’s credit profile and other eligibility criteria. A processing fee of up to 2% of the sanctioned loan amount may be charged and deducted at the time of disbursal. There are no prepayment or foreclosure charges. In the event of cheque dishonour, a charge of ₹1,000 will be levied per instance. All applicable rates and charges will be communicated to the borrower prior to loan disbursal and are subject to change as per company policy.

This notice should serve as an addition to the general Privacy Policy of ECS Credit to shed light on the circumstances, restrictions, and purpose of information disclosure. It outlines the obligations of ECS Credit in ensuring the security of the data as well as the natural restrictions that will always follow whenever the data needs to be disclosed to the appropriate third parties.