Privacy Policy

Effective date: 01 July 2023

LoanPlus values your privacy and is dedicated to safeguarding your personally identifiable information (PII) that may be gathered when you use our website or mobile application. This privacy policy outlines how we gather and utilize your personally identifiable information and provides you with control over its usage in compliance with Personal Data Protection Act, No. 9 of 2022 of Sri Lanka. The information that we collect from you is used solely to provide you with the best services, products, and customer experience.

Please read this policy carefully. By utilizing our Site or Services, you agree to the collection, use, and sharing of your personally identifiable information as described herein.

From time to time, we may make modifications, changes, or additions to these terms and conditions. By continuing to use our website or services after such changes are posted, you indicate your acceptance of the revised terms. 

This privacy policy (“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. This Privacy Policy is a legally binding document between you and Loanplus. The terms of this Privacy Policy will be effective upon your acceptance of the same, and will govern the relationship between you and Loanplus for your use of the Website. This Privacy Policy describes the information that we collect from you, how we collect this information [whether directly or through third parties or which is automatically generated, when you interact with our Website and our mobile application (Mobile App)] and what we do with it after we collect it.

Information Collection and Use

Personal Data

When you use our website or Services at LoanPlus, we collect information from you that is personally identifiable.

  1. Full name
  2. Contact number
  3. Email address
  4. Postal address
  5. And other similar information

Financial Information

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

Sensitive Personal Information

As part of our loan application process and other activities, we may ask you to provide certain sensitive personal information such as:

  1. Date of birth
  2. Marital status
  3. Government-issued ID details
  4. Address, state, province, ZIP/postal code, city

We use this data only for the purpose of processing loan applications, and we keep all financial data confidential and secure. We take measures to protect this information from unauthorized access or inappropriate use.

Personally Identifiable Information (PII) Provided by Third Parties

Please note that under no circumstances you are allowed to use our Website or 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 authorized to provide us with their Personal Information. Use of the Website in this manner automatically presumes that you have obtained proper Privacy Policy. 

The use of the Website in this manner assumes that you have obtained proper consent and have adhered to our Privacy Policy. You hereby represent and warrant that the third party indicates that it has read, understood, and consented to the terms of this Privacy Policy.

Likewise, all individuals whose personal information you have provided to us have expressly agreed to the use, processing, storage, and/or disclosure of their data in accordance with this policy and applicable laws. Thus, you are solely responsible for ensuring that you comply with all applicable laws pertaining to obtaining and providing such consent.

Strictly note that we will not be liable in any way for any damages, losses, or liabilities incurred by your failure to obtain such consent. We may also request additional information to verify the accuracy of information provided by third parties.

Tracking and 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.

Use of Data

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

  1. Providing and maintaining the Service
  2. Verifying your identity and contact details
  3. Notifying you about transactions and changes to our Service
  4. Contacting you and updating you on the performance of our Services
  5. Communicating with you and processing your requests
  6. Offering surveys, promotions, and marketing communications
  7. Contacting provided personal references to verify information accuracy and confirm the client’s identity and personal circumstances
  8. Providing funds transfer services and related services
  9. Providing customer care and support
  10. Monitoring the usage of the Service
  11. Detecting, preventing, and addressing technical issues
  12. Providing electronic funds transfer services and related services
  13. Collection of delinquent accounts

Sending electronic communications

From time to time, you will receive disclosures, notices, documents, and information related to your current loan status (“Communications”) from LoanPlus. 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 and participation in the Program. Such Communications may be provided or made available to you electronically through mobile SMS, email, or the Website.

Therefore, we need to use your personal data in order for us to provide you with these Communications. We will not share your personally identifiable information (PII) for any other purposes than outlined herein without first obtaining your consent.

Mobile Accessibility

The initiative of LoanPlus to provide a comprehensive mobile application to its Customers, 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 Service. This Privacy Policy herein applies to all devices.

Disclosure of Data

Rest assured that LoanPlus will not rent or sell your personal information to third parties for their business purposes, such as marketing and advertising, without your express consent and authorization, unless required by law.

LoanPlus is obligated to share personally identifiable information (PII) when required by law, such as in response to a court order or subpoena. We may also disclose your personal data if we have good faith belief that it is necessary to:

Whereas, LoanPlus reserves the right to disclose or transfer your data if it is acquired by or merged with another company. In this event, we will notify you before any information is transferred and becomes subject to a different Privacy Policy.

Security of Data

The security of your data is our priority and important to us. However, no method of transmission over the Internet or electronic storage is 100% secure. While we strive to implement commercially acceptable means to protect your Personal Data, we cannot guarantee its absolute security. And, therefore, LoanPlus will not be liable or responsible for any losses or damages caused by unauthorized access to your data.

Service Providers

We may engage third-party companies and individuals to facilitate our Service, provide the Service on our behalf, perform Service-related services, or assist us in analyzing how our Service is used.

These service providers have access to your Personal 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.

LoanPlus’ 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. Additionally, 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 Service does not address anyone under the age of 18 (“Children”). 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 Children have provided us with Personal Data, please contact us. If we become aware that we have collected Personal Data from children without verification of parental consent, we take steps to remove that information from our servers.

LoanPlus is not intended for use by anyone under the age of 18 and does not knowingly collect data from such persons.

Changes to this Privacy Policy

We may update our Privacy Policy from time to time. We will notify you of any changes by posting the new Privacy Policy on this page. You are advised to review this Privacy Policy periodically for any changes. Changes to this Privacy Policy are effective when they are posted on this page. 

LoanPlus may at its sole and exclusive discretion effect any amendment, revision or modification to this 

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 our Terms and Conditions and Privacy Policy! Your trust is important to us and we appreciate your understanding.