Privacy Policy

1. Introduction

At Optimize, we are committed to protecting your personal information and respecting your privacy. This Privacy Policy explains how we collect, use, share, and protect data when you use our mobile application or website (together, “Platform”).

By using Optimize, you agree to this policy. If you disagree, please discontinue use of the app.

2. Legal Compliance

This policy adheres to the provisions of:

• The Information Technology Act, 2000 (Section 43A and 72A)
• Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011
• The Digital Lending Guidelines issued by the Reserve Bank of India (RBI)
• NPCI's UPI Autopay framework

We collect and process data strictly with user consent and only for purposes necessary to provide our services.

3. What We Collect

We may collect the following categories of personal and financial information:

4. How We Use Your Data

We use your data to:

• Enable automated or manual prepayments on your existing loan
• Track repayment performance and interest saved
• Notify you of personalized loan optimization insights
• Show you better balance transfer or refinancing offers (with consent)
• Improve app performance and user experience
• Comply with RBI audit and data traceability guidelines

We do not sell your personal data to any third party.

5. Data Sharing

We may share your data with:

• Banks, NBFCs & Loan Partners – to fetch loan details or process repayments
• Payment Systems (NPCI, UPI) – to initiate and manage UPI Autopay mandates
• Technology Vendors – cloud providers, analytics tools (on a need-to-know basis)
• Regulatory Authorities – if required under law or investigation

All third-party partners are required to maintain data confidentiality and comply with security standards.

6. Consent & Control

You control your data:

• You can pause or cancel repayment mandates anytime
• You can delete your account and request data deletion via the app or email
• You may deny access to optional permissions (e.g., location)

We obtain explicit consent for any access to sensitive data.

7. Data Storage & Retention

All user data is stored securely in Indian data centers, in compliance with RBI's data localization requirements.

We retain data only as long as necessary to fulfill the purpose, unless longer retention is required by law (e.g., audit trail).

8. Data Security

We implement best-in-class security practices, including:

• End-to-end encryption of data in transit and at rest
• UPI tokenization and bank-standard mandate flows
• Role-based access control for internal teams
• Regular security audits and compliance checks

No system is 100% secure, but we strive to use commercially acceptable means to protect your data.

9. Your Rights

As a user, you have the right to:

• Access or correct your personal data
• Revoke consent and delete your data
• Receive a copy of your data (upon request)
• Lodge a grievance (see Section 11)

10. Children's Privacy

Our services are not intended for users under 18. We do not knowingly collect or store data of minors. If we discover such data, we will delete it immediately.

11. Grievance Redressal

If you have any concerns or wish to raise a complaint regarding data handling:

12. Changes to This Policy

We may update this policy from time to time. You will be notified within the app or via email in case of material changes. Continued use of the app after changes implies acceptance.

13. Contact Us

For any privacy-related queries:

📧 Email: privacy@optimize.in