Disclosure

Disclosure

ECS Credit is dedicated to the serious disclosure of non-personal and personal information and ensures that it shares any of the users' data strictly according to relevant laws, regulatory needs, and industry best practices. Even though every care is taken to preserve confidentiality, users understand that disclosure of information to permitted third parties, banks, regulating authorities, or service providers entails some risks beyond the control of ECS Credit.

Disclosure of information is made only for good purposes, such as processing loan applications, creditworthiness assessment, compliance with regulatory and legal needs, fraud prevention, and enhancing the quality of services provided. ECS Credit limits disclosure to the minimum information essential for such purposes and maintains contractual undertakings, confidentiality conditions, and security provisions to ensure third-party recipients are obligated in order to preclude misuse or unapproved access.

Authorized third parties may be, inter alia, business partners such as banks and NBFCs, credit bureaus, IT and infrastructure enterprises, regulatory bodies, police and other organizations involved in business or corporate transactions. Customers must appreciate that although ECS Credit requires rigorous security and confidentiality procedures, it cannot ensure absolute protection when information is disclosed to third parties, since third parties may be exposed to risks that are beyond the company's immediate control.

Some disclosures can be required by law, regulatory direction, court orders, tax examinations, or statutory investigations. ECS Credit is free to make them at their discretion without notice to the user, and any disclosure that is required under legal obligation shall be strictly confined to the extent required by the applicable statutes. Users know that such legally required disclosure is beyond the discretion of ECS Credit and is governed by the sole jurisdiction of the governing legal and regulatory regime.

In business transactions, like restructuring, joint ventures, mergers, or acquisitions, user data might be sold as business properties. ECS Credit endeavors to ensure that any successor or the acquiring company is privy to the same degree of privacy and confidentiality, but once the information is sold, the new company may exercise control over the information under its polices, which will provide the same level of protection as ECS Credit's Privacy Policy.

ECS Credit also utilizes third-party service providers for operational purposes, including cloud hosting, analysis of data, prevention of fraud, communications services, and other technology infrastructure. Disclosure to such providers is restricted solely to that which is needed for them to perform their services. All these providers are required by contract to keep user information private and secure. Customers realize that ECS Credit's responsibility extends to the degree of choosing and overseeing the above-mentioned service providers with caution but not to defaults or shortcomings on the part of these individuals beyond reasonable control.

By making use of ECS Credit's services, customers provide intelligent consent to the above-disclosed disclosure methods. Customers are advised to read ECS Credit's Privacy Policy and any amendments thereof to remain informed regarding disclosure methods and legal status. Continued use of ECS Credit's services shall be considered to be an agreement to the foregoing disclosure methods.

With a maximum term of 365 days, the loan amount granted might be as little as ₹5,000 or as much as ₹2,00,000. Depending on the applicant's credit profile and other qualifying requirements, the applicable Annual Percentage Rate (APR) can vary from 15% to 34%. At the time of disbursement, a processing fee of up to 2% of the approved loan amount may be assessed and subtracted. Prepayment and foreclosure fees are not applicable. A fee of ₹1,000 will be assessed each time a check is dishonored. Before the loan is disbursed, the borrower will be informed of all applicable rates and charges, which are subject to vary in accordance with company policy.

This notice is intended to be a supplement to the general Privacy Policy of ECS Credit, providing insight into the conditions, limits, and intent of information disclosure. It describes both the responsibilities of ECS Credit to safeguard data and the inherent limits that result whenever data must be revealed to legitimate third parties.