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Privacy Policy

Effective date: 17 June 2024

AIS IT Consulting Services (Private) Limited (hereinafter referred to as “the Company” or “We”), a company duly incorporated and registered under the laws of Sri Lanka, takes the privacy of its Clients (hereinafter also referred to as “You” or “They”) very seriously and is dedicated to safeguarding Client’s data that may be gathered when they use the website https://loanplus.lk/en/ or mobile application “LoanPlus”.

With this Privacy Policy, we inform you what data we process and explain your rights associated with the processing of your data under the Personal Data Protection Act, No. 9 of 2022 of Sri Lanka.

Please read this Privacy Policy carefully. By using our Services through our website or mobile application, you agree to the processing of your data as described herein.

Data processing refers to the collection, storage, use, disclosure, sharing, protection and deletion of personal information.

This Privacy Policy is an electronic record in the form of an electronic contract formed under the Electronic Transactions Act No. 19 of 2006 of Sri Lanka and other applicable laws and regulations. Therefore, this Privacy Policy does not require any physical, electronic or digital signature.

Types of Data Collected and Processed

Personal Information

When you use our Services through the website or mobile application, we may collect from you the following personal information:

Full name;
Contact number;
Email address;
Address, state, province, ZIP/postal code, city;
Government-issued ID details;
Date of birth;
And other similar information.

Financial Information

Because the model of our business involves making loans to our Clients, we also collect financial information, such as:

Full bank account details;
Other financial info, such as Client salary or debts.

This information is used only for the purpose of processing loan applications. We keep all financial information confidential and secure. We take measures to protect this information from unauthorised access or inappropriate use.

Technical Information

The initiative of LoanPlus to provide a comprehensive mobile application to its Clients, allows you to access and use the website from your mobile devices. When accessing our website from your mobile device, certain technical information may be collected, such as your unique hardware ID, phone model, operating system version, and other similar information related to the usage of the Services.

Cookies

Depending on when you access our website, we may employ cookies or similar technologies on your computer or device to collect information. Cookies are files containing small amounts of information that are downloaded to your device when you visit a website.

The usage of cookies helps us provide you with convenient and secure access to our website, Services or other features. Most web browsers accept cookies automatically but provide their users with the ability to deny or delete them by changing the browser settings. You are free to decline our cookies on your computer or device unless they are necessary to prevent fraud or ensure the security of our controlled websites. However, the use of the website may be limited if you do not accept our cookies.

Personal Information Provided by Third Parties

Please note that under no circumstances you are allowed to use our Services on behalf of other people, such as your family, friends or employees.

However, whenever you enter details of references, contacts or any other third party, you must ensure that you are authorised to provide us with their personal information. Use of the website or mobile application in this manner automatically presumes that you have obtained proper authorisation from the owners of the personal information and have informed said persons of this Privacy Policy. You hereby represent and warrant that all your family, friends or employees whose personal information you have provided to us have agreed to the collection, use, processing, storage, and disclosure of their data in accordance with this Privacy Policy and all applicable law. Thus, you are solely responsible for ensuring that you comply with all applicable laws pertaining to obtaining and providing such consent.

Use of Data Collected

As stated above, we use the data collected from you to provide you with our Services. We may also use this information for the following purposes:

Providing and maintaining the Services;
Verifying your identity and contact details;
Clients accounts management;
Notifying you about transactions and changes to our Services;
Contacting you and updating you on the performance of our Services;
Communicating with you and processing your requests;
Contacting provided personal references to verify information accuracy and confirm the Client’s identity and personal circumstances;
Providing Clients care and support;
Monitoring the usage of the Services;
Detecting, preventing and addressing technical issues;
Collection of delinquent accounts.

Disclosure of Data Collected

The Company will not rent or sell your data to third parties for their business purposes, such as marketing and advertising, without your express consent and authorization.

By accepting this Privacy Policy you understand and agree that we may share your data in the following circumstances:

To comply with a legal obligation under the applicable law; including but not limited to submitting such information and documents to any government agency or body for verification, including to the Department for the Registration of Persons (DRP) of the Government of Sri Lanka, at the time of applying for the loans from Loanplus or otherwise, via any facility provided by AISIT, prior to verification of the authenticity of the particulars relating to the Customer’s National Identity Card via the Information System of said DRP, including but not limited to when such information and documents are forged and or compromised. (By applying for a loan to AISIT / Loanplus, the Customer thereby grants consent, power, and authority to convey proof of such written consent to DRP, if requested to do so by the Commissioner General, or to any government agency or lawful body.)
To protect and defend the rights or property of the Company;
To prevent or investigate possible wrongdoing or fraud in connection with our Services;
To protect the personal safety of the public or users of the Services;
To protect against legal liability.

Indemnification

The Customer undertakes irrevocably and unconditionally to be liable, compensate and ensure to keep the Lender indemnified against any liabilities, compensation, claims, damages, losses, expenses in relation to or arising from any transactions between the Parties under the Agreement or for any actions of the Lender taken pursuant to any applicable law, regulation or agreement.

Security of Data

The security of your data is our priority and important to us. We will use all reasonable efforts to prevent your information from being accidentally lost, used, or accessed in an unauthorised way, altered or disclosed. Your information will be encrypted and transmitted to our server in a secure manner. We limit access to your information to those employees, agents, contractors and other third parties who have a legitimate need to know. They will only process your information on our instruction and are subject to a duty of confidentiality.

However, the transmission of information via the Internet is not completely secure. While we strive to implement commercially acceptable means to protect your data, we cannot guarantee its absolute security. And, therefore, the Company will not be liable or responsible for any losses or damages caused by unauthorised access to your data.

Your Rights Regarding Data We Collect

Request changes to your personal data

You may by written notice request us to have any incomplete or inaccurate data we hold about you corrected, though we may need to verify the accuracy of the new data you provide to us.

Request deletion of your personal data

You may by written notice ask us to delete your personal data that we have no good reason to continue processing. You also have the right to ask us to delete your personal data where we may process your information unlawfully or where we need to delete your personal data to comply with local law. Please note, however, that due to specific legal reasons, or as required or authorised by applicable law and the Personal Data Protection Act, we may not always be able to honour your removal request. We will notify you of such a case when you request it.

Sending Electronic Communications

From time to time, you will receive disclosures, notices, documents and information related to your current loan status (“Communications”) from the Company. These Communications may include confirmations of loans obtained, confirmation of email address or password changes and inquiries regarding your activity or status concerning your use of the website. Such Communications may be provided or made available to you electronically through mobile SMS, email or the website.

Service Providers

We may engage third-party companies and individuals to facilitate our Services, provide the Services on our behalf, perform Services-related activities or assist us in analysing how our Services are used. These service providers have access to your data only to the extent necessary to perform these tasks on our behalf and are obligated not to disclose or use it for any other purpose.

Links to Other Sites

We also warn the Client that our Services may contain links to other sites that are not operated by us. If you click on a third-party link, you will be directed to that third party’s site. We strongly advise you to review the Privacy Policy of every site you visit. We have no control over and assume no responsibility for the content, privacy policies or practices of any third-party websites.

Children’s Privacy

Our Services do not address anyone under the age of 18. We do not collect personal information from anyone under the age of 18. If you are a parent or guardian and you are aware that your children have provided us with their personal information, please contact us, we will take steps to delete that information from our servers.

Changes to The Privacy Policy

We may update the Privacy Policy from time to time. We will notify you of any changes by posting the new version of the Privacy Policy on this page. Changes to the Privacy Policy are effective upon posting on the page. You are advised to periodically review this Privacy Policy for changes. By continuing to use our Services after such changes are posted, you indicate your acceptance of the revised version of the Privacy Policy.

Contact Us

If you have any questions about this Privacy Policy, please contact us:

Email: [email protected]

Hotline: +94 11 44 111 22

Address: Sri Lanka, Colombo. No. 47 Alexandra Place, Colombo 7

We will respond to your inquiry as soon as possible.

Thank you for taking the time to read the Privacy Policy! Your trust is important to us!

Effective date: 01 July 2023

Overview

LoanPlus is an online fintech company that offers fast and convenient financial solutions to the people of Sri Lanka through its website loanplus.lk.

Use of our website and consuming its products and services tantamounts to your compliance with these terms and conditions and in fact is final and conclusive evidence that you are agreeing to these terms and conditions and to the terms of our privacy policy.

These terms and conditions comprise a legal contract between you and LoanPlus controlling the use of our website and its product and services in terms of the Electronic Transactions Act No. 19 of 2006 of Sri Lanka, in addition and not in derogation to the terms and conditions of any contract we enter into with you for products and services.

Modifications

From time to time, we may make modifications, changes, or additions to these terms and conditions, as LoanPlus may deem fit. By continuing to use our website or services after such changes are posted, you indicate your acceptance of the revised terms. LoanPlus may at its sole and exclusive discretion effect any amendment, revision or modification to this.

It is recommended that you regularly review this page for any updates. These sudden changes will be enforceable with the effect of the date (“Effective Date”) it is published or notified to the registered customers who use the web and / or consume products and services.

Eligibility for Financial Services

LoanPlus provides financial services exclusively to Sri Lankan citizens who are 20 years of age or older. These services are prohibited to individuals residing outside of Sri Lanka, as our website is mandated to be accessed within Sri Lanka, or for persons obtaining these services in breach of this or the Privacy Policy or any Customer Agreement. These limitations are in accordance with the laws of Sri Lanka.

We may also require that you provide us with additional information regarding your identity and financial situation in order to determine whether or not we can offer you any of our services.

Registration: Responsibilities of Account Holders

Certain sections of the loanplus.lk website is accessible only to registered account holders. To access these restricted areas, you will need to provide the username and password you created during registration. You understand that using a username and password serves as adequate security. You are solely responsible for:

(1) Authorizing, monitoring, and controlling access to your account,

(2) maintaining the strict confidentiality of your username and password,

(3) not sharing your username or password with others, and;

(4) promptly notifying LoanPlus in writing if you need to deactivate your account due to security or other concerns.

Hereby, LoanPlus is not liable for any harm resulting from the theft or disclosure of your username or password, or your authorization of others to use our website with your credentials. It is your responsibility to inform LoanPlus immediately of any unauthorized use of your account or breach of confidentiality. Until we receive this notification and subsequently deactivates a username, you will be held liable for any damages resulting from the use of your account on the website and /or the use of our services.

Privacy and Data Protection

We collect information provided by you when creating or modifying your account, registering to use our site, making purchases, requesting information, contacting customer support, or engaging in other forms of communication with us, in compliance with the Personal Data Protection Act, No. 9 of 2022 of Sri Lanka.

This information may include your name, address, email address, phone number, bank account details, date of birth, national ID numbers, and financial information. Rest assured that we protect your personal information using industry-standard data security measures, and we do not share this information that may identify you with any third-party individuals or organizations without your express consent.

To understand how we collect, share, and protect your personal information, please refer to LoanPlus’s Privacy Policy, which applies to the use of your data and is an integral part of these terms and conditions along with the Customer Agreement.

Consent to Contact

By submitting your contact information to us, you expressly consent to receive communications from LoanPlus via telephone, email, postal mail, or in-person visits. This includes the use of your provided contact number for personal communication. We may contact you for loan applications and servicing purposes, including reminders for upcoming payments, collections, and other loan-related matters.

By providing your contact information, registering for an account, or applying for a service, you consent to be contacted by LoanPlus through written notices, email messages, text messages, telephone calls, or visits by our field officers. Such communication may occur at any email address or mailing address we have on record for you, obtained from public or non-public databases we lawfully access.

Furthermore, you consent to the use of prerecorded messages or automatic dialing devices when we contact you at any telephone number associated with your account, including mobile numbers that may result in charges to you. In compliance with the terms, we may engage third-party service providers to contact you.

Should you decide to change or modify the method of communication at any given time, you may do so by notifying us or contacting us using our designated customer service contact hotline: +94 11 44 111 22

Ownership of Intellectual Property

The LoanPlus website, its content, and all intellectual property associated with it (including copyrights, patents, trademarks, designs, logos, and service marks) are the property of LoanPlus or third parties. The rights, title, and interest in these intellectual properties shall remain with LoanPlus or the respective third-party owner. These materials are protected by copyright, trademark, and other intellectual property laws.

You are only authorized to use the materials on the site for personal, noncommercial purposes. Any other use or reproduction of any content is strictly prohibited without our prior written consent. The unauthorized copying, modifying, or distributing of copyrighted works is a violation of intellectual property laws and can result in severe civil and / or criminal consequences.

You may not copy, reproduce, modify, publish, display, distribute, or transmit any material from the LoanPlus website for commercial purposes without our prior written consent. You also cannot use any of our logos or other proprietary graphics on your own website without first obtaining express written permission from us. Furthermore, you agree not to remove or alter any copyright, trademark, or other proprietary notice displayed on the site.

Electronic Signatures and Documents

By using LoanPlus’ electronic services or engaging in any electronic transactions or agreements, you agree that selecting an item, button, or icon using a keypad, mouse, or similar device constitutes your signature, acceptance, and agreement as if physically signed, by virtue of the Electronics Transactions Act No 19 of 2006.

You acknowledge that no third-party certification or verification is necessary for the validity of your electronic signature, and the lack of such certification does not affect the enforceability of your signature or resulting contracts. Any electronically signed document will be considered “in writing” and “e-signed,” and when printed, it will be deemed an original document in the normal course of business and shall be considered final and conclusive.

Therefore, any lacking and absent third-party certification or verification of your electronic signature does not in any way invalidate, negate, or otherwise affect the legally binding nature and enforceability of the signed document or contract.

Authorization of Direct Debit

By using LoanPlus’ online services or engaging in any electronic transactions or agreements, you agree and authorize Loanplus to Direct Debit from your account, by virtue of the Electronics Transactions Act No 19 of 2006 and by signing / consenting to this Agreement, you acknowledge that no new or further authorization is required by Loanplus to Direct Debit.

Such Direct Debit will be deemed an authorized debit in the normal course of business and shall be considered final and conclusive. Therefore, you acknowledge that any further authorization from you will not be required and that you categorically agree that not giving specific consent for any particular transaction does not in any way invalidate, negate, or otherwise affect such transaction/s nor this Agreement.

Advertising

By using the LoanPlus website and accessing its content, you consent to receive advertisements from LoanPlus. These advertisements may be sent through various channels, including but not limited to mobile calls, emails, and text messages, using the contact information you provided.

Likewise, we may use cookies or other similar technologies to track usage on our site and tailor advertisements to you.

We may also partner with third-party service providers who may place ads on our behalf. Such third-party advertising partners may target potential customers based on demographic, psychographic, interest, and behavioral information they collect from various sources.

Information Collection through Cookies and Similar Technologies

As said, LoanPlus may use cookies or other similar technologies to collect information about your visit to our website. Such technology helps us understand user behavior, measure the performance of our site, improve navigation and content, and deliver tailored advertisements.

Cookies may be used as identifiers to track user data, such as pages visited and time spent on a page. Please refer to our Cookie Policy for additional information about the type of cookies we collect and how you can manage them. Additionally, we may use web beacons, pixels, and software development kits to track user behavior.

You have the right to disable cookies in your browser settings or mobile device settings. However, disabling them may prevent you from accessing some of our website’s features or services. We reserve the right to update our Cookie Policy at any time without prior notice.

Third-Party Links and Services

The LoanPlus website may contain links to third-party websites. We do not control these sites and are not responsible for their content or practices. Such links are provided solely as a convenience to you and should not be interpreted as an endorsement or approval of the site or its content.

We encourage you to read the privacy policies of any linked sites before providing them with your personal information. Likewise, we do not provide any representation or warranty for third-party services or products advertised on our site. We shall not be held liable for any harm caused by the use of such services.

Limitation of Liability

LoanPlus shall not be liable for any damages, losses, or expenses arising from the use of the website or any linked sites, including direct or indirect, special, incidental, or consequential damages. This includes damages resulting from performance failures, errors, interruptions, defects, delays, computer viruses, or system failures, even if LoanPlus or its representatives have been advised of the possibility of such damages.

Your use of the website is at your own risk. We do not guarantee that our services will be uninterrupted or error-free. Furthermore, we shall not be liable for any damages caused by any third parties you may interact with while using the site.

Indemnification

You agree to defend, indemnify, and hold LoanPlus and its affiliates, directors, officers, employees, agents, contractors, successors, or assigns harmless from any third-party claims, damages, and expenses arising from your breach of these terms, violation of applicable laws, your submissions, or your access to the website. LoanPlus reserves the right to participate in the defense of any such claim or action at your expense.

Termination Terms

This agreement comes into effect when you use or register your account with LoanPlus. Once approved as a borrower, this agreement remains valid and binding for the duration of any loan or until it is superseded by a new agreement. You may terminate this agreement by providing written notice if you have no outstanding loan commitments or contracts.

LoanPlus reserves the right to terminate this agreement at any time if you breach these terms, website terms of use, terms of the Loan Agreement, the privacy policy, or regulatory requirements. Termination notice should be sent in writing to [email protected]

However, any rights or liabilities accrued prior to termination shall remain in effect.

Miscellaneous

All rights not expressly granted and heretofore reserved by LoanPlus. These terms should be interpreted and enforced in accordance with the laws of Sri Lanka. All disputes arising from these Terms shall be resolved through arbitration and not before a court of law. Any changes to this agreement must be made in writing and agreed upon by both parties.

These Terms constitute the entire agreement between you and LoanPlus concerning your use of the LoanPlus website and supersede all prior or contemporaneous communications whether in writing or electronic form. If any provision of this agreement is found to be invalid, void, or unenforceable by a court of competent jurisdiction, such invalidity shall not affect other provisions that can remain enforced.

We reserve the right to modify these terms at any time without prior notice. However, any changes shall be effective immediately upon posting the revised version on our website and/or sending a notification to your account email address or contact information. We encourage you to review these terms periodically for updates. Your continued use of the website shall constitute your agreement to be bound by such changes.

These terms, together with the privacy policy and the Loan Agreement, constitute the entire agreement between the parties and replace any prior written or oral agreements.

For more information, please contact LoanPlus with the following information: