This policy governs the internet loan services provided by Prokash, an online platform offering personal consumer loans. Please read the terms carefully before proceeding. If you do not agree with or fully understand the terms, do not use our services. By continuing to use our services, you acknowledge that you have read, understood, and agreed to this policy, including the processing of your personal information in accordance with it.
Effective Date: October 10th, 2024
This policy explains how we collect and use personal information, including business scenarios, functions, information scope, purpose, and method. Refusing to provide certain information may affect our services. We will follow the principles of legality, lawfulness, and necessity, and explain in detail the purpose of device permission calls and the impact of closing permissions. Important or sensitive permissions must be granted after your authorization, and information will not be used for other purposes without consent.
We will not share your personal information without your consent or legal requirements. Exceptions include sharing your information when you explicitly agree or when it is required by law.
We prioritize the security of your personal information and have implemented protection measures, including encryption technology and mechanisms to prevent malicious attacks, ensuring your information is not processed or leaked without authorization.
You can manage your personal information through the Your Account page, such as viewing, correcting, and deleting your account. If you have any questions, you can contact us through the contact information provided at the end of this policy, and we will respond within 15 days.
Prokash provides personal online loans to individuals in Uganda, with loan amounts ranging from UGX 20,000 to UGX 1,000,000, based on the borrower's needs and loan terms. Loan durations span from 91 to 365 days, offering flexible repayment options to suit each borrower’s situation.
The Annual Percentage Rate (APR) for these loans ranges from 20% to 32%, depending on factors such as credit score, income level, and other financial circumstances. This is an average APR and may vary for individual borrowers.
Our services include essential and optional business functions. Essential functions necessitate the collection of personal information for normal operations. Refusing to provide the required personal information will result in an inability to use these services.
To protect your account and personal information during registration/login, we collect device details such as hardware serial numbers and IMEI. Providing IMEI is optional and enhances account protection; its omission does not hinder registration and login.
When applying for a personal loan, we require your name, gender, address, contact information, ID number, and photo to meet identity verification requirements. Further authentication involves facial photos and wallet accounts. To identify fraud risks and assess qualifications, we collect device information including the application list, hardware serial number, device identification code, and location data.
Upon loan issuance, we notify you that if unreachable, we may contact your emergency contacts, who can update their information at any time. To ensure timely repayment and safeguard financial security, we may remind borrowers of due dates via phone, SMS, WhatsApp, or email. If borrowers cannot be reached, we may contact the emergency contact provided during the loan application, who can update their details at any time. All personal information is processed in strict compliance with privacy laws and policies to protect the privacy and security of both borrowers and emergency contacts.
To ensure timely product or service comprehension, we may make recommendations via phone calls, text messages, or app notifications. You agree to our use of your name and mobile phone number. Opposing information use limits access to updates without affecting other services.
To maintain application functionality, fraud prevention, and account security, we collect device details, time zone, network status, IP address, and location data, including unique identifiers like IMEI, during use. This information alone does not identify individuals. If you disagree with providing this information, your account security may not be guaranteed.
When you use our products or services, we will collect the following data and related permissions from you:
When you apply for a personal loan, we will collect your personal information, such as mobile, full name, birthday, address, contact information, employment status. This information is essential for identity verification and assessing the borrower's repayment ability. This information is used to create a profile for the borrower, assess creditworthiness, and facilitate loan processing.
Our purpose is to manage risk and conduct anti-fraud checks. We will collect your emergency contact information, including your relationship with you, name, and mobile phone number, which will be used for risk management and anti-fraud verification purposes.
In order to enhance the security of your account and prevent unauthorized access, you need to submit a photo of your ID card and a selfie when applying for a loan. This is to ensure that you are personally involved to prevent fraud and disputes and to verify the authenticity of your identity to protect your account security.
We collect and monitor specific information about your device, such as its name, model, region, language settings, and unique identifiers including IMEI and serial number. This helps us uniquely identify your device and ensure that no unauthorized device acts on your behalf to prevent fraud.
When you use our products or services, we will request this permission to edit your schedule so that you can use the schedule reminder function. You can turn off authorization in the system settings, but you will not be able to use the schedule reminder function after turning it off.
We may collect your GPS-based approximate location to manage risk and improve fraud prevention. This allows us to confirm the general region where the application is being used to detect potential misuse. You may disable this permission in system settings, but certain features, such as fraud detection, may be affected.
Above information we collect, and the information that you grant permission for us to use, will be used for identity authentication, risk management, fraud prevention, and enhancing your loan management experience. To ensure data security, we use the HTTPS protocol to protect data transmission between devices and servers. This information is stored on a private server dedicated solely to our services, and no third party has access to it. Server Address: https://api.prokashug.com. We promise that we will never disclose your personal information without your consent, except as required by law.
To enhance user experience and app performance, we integrate the Firebase SDK into our platform. This includes:
Firebase SDK assists in tracking user engagement, enabling us to analyze user behavior and optimize our app for better service.
We utilize Firebase’s crash reporting features to identify and fix technical issues, ensuring a smoother experience for users.
Firebase SDK assists in tracking loan applications, ensuring users can easily navigate through the application process and receive timely notifications regarding their application status.
Firebase SDK may collect and use your device information, including device type, operating system version, and user interactions within the app. This information is used to enhance app performance, diagnose issues, and improve overall user experience. Please refer to Firebase's privacy policy for detailed information on their data handling practices: Firebase Privacy Policy.
We do not share your personal information with third parties without your consent, except in the following circumstances:
We may share your information with third parties if you have given explicit consent for us to do so.
If required by law or legal process, we may disclose your information to the relevant authorities.
To facilitate post-loan management, including necessary collection services, we may share your information with authorized service providers bound by strict confidentiality agreements.
We are committed to protecting your personal information. We implement a variety of security measures to ensure the safety of your personal information, including:
However, please be aware that no method of transmission over the Internet or method of electronic storage is 100% secure, and we cannot guarantee its absolute security.
You have the right to manage your personal information in the following ways:
You may request to access the personal information we hold about you. If you believe any information is incorrect, please contact us to rectify it.
You may request the deletion of your personal information. Please note that deleting your account will remove all related information from our servers.
We may update this Privacy Policy from time to time to reflect changes in our practices. Any changes will be posted on this page, and we may notify you via email or within the app. We encourage you to review this Privacy Policy periodically for any updates or changes.
Your continued use of our services after the changes have been made will constitute your acceptance of the updated Privacy Policy. If you do not agree with the updated policy, please stop using our services.
If you have any questions about the privacy policy or your personal information, please reach out to us via the in-app support.