Privacy Policy

Privacy Policy

Customer's privacy is important to Bank of Baroda (hereinafter referred to as the Bank) and we are committed to protecting your privacy when you use Bank of Baroda’s Digital Platforms. This Privacy Statement will explain the process on how your data will be collected, used, shared, and safeguarded when you use our Digital Platforms.

By using our Digital Platforms, you are expressly agreeing to and consenting to the terms of this privacy policy and is deemed to have given your consent for the processing of your Personal Data as set out in this Statement.

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Collection of Data:

Personal information is the information that identifies you as an individual and your other identity, such as your name, date of birth, mobile number, domicile, pan number, mailing address, email address, etc. Personal information is only obtained when you voluntarily provide the information to us. The personal information is used for better understanding your needs and interests and to provide you with better service.

Once you choose to provide us with personal information, you can be assured it will be used only for the intent it was collected for.

Non-Personal information is the information that does not identify you as an individual, such as your browser type, IP Address, the URL of the previous web site you visited, etc. We may automatically collect certain types of non-personal information from you when visiting our site. This helps us to understand the usage of our site and demographics of our visitors.

Location information is information that may be collected by certain mobile applications or from the browser that identifies your physical location. This information may be collected from your mobile device's location-aware features when you request certain services that are dependent on your physical location.

Device Information refer to all such information collected of your devices which were used to avail the services of bank, these may include the unique device identifier such as IMEI number of your device, your contact details (if required),technical Data about your computer and mobile device or your devices which were used to avail the services of bank and the details regarding applications and usage details.

Bureau / Creditability information is information which will be extracted from various credit rating agencies/bureau and from RBI on your credit worthiness, history and behavior.

Other information is all other informations, such as information relating to your occupation, employment, employers details, like name and address, your income, monthly loan obligations, nature of business/employment, licensee, income proof, GST returns, bank statements, income tax returns, etc. Further generation and storing password or PIN / OTP in encrypted form based on your request on the Digital Platform, Your photographs, KYC details, Social relationships detail such as your father’s name, spouse’s name and mother’s name, nominee address, declaration related to your health etc.

Purpose for which the Data is collected: All the data is collected:

• To provide you the detailed information regarding our Digital Lending Platform, update on its terms and conditions, policies and/or other administrative information.
• To enable us to personalize your experience of the Journey in the Digital Lending Platform.
• To enable us to accurately address your request and respond to your need based on the inquiries.
• To enable us to evaluate your eligibility for the applied product and provide the best offer of the product which you may have applied for or shown interest in;
• To enable us to perform our obligations under KYC norms as directed by RBI.
• To enable us to improve risk control for fraud detection and prevention, to comply with laws and regulations, and to comply with other legal processes and law enforcement requirements;
• To enable us to extract and evaluate your credit history and credit worthiness and access the risk based on extracted details.
• To enable us to establish and manage our relationship with you in most effective way.
• To enable us to protect our legal rights and comply with our legal obligations;
• To enable us to arrive on the decision to enter into a contract with you or to take steps based on your request prior to entering into a contract.
• To enable us to meet the legitimate interests to be pursued by us or by a third party.
• And for all other purposes which may arise in due course as per the requirement of bank or as per the requirement of statutory bodies from time to time.

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Sharing of your information:

We will not reveal customer information to any external organization unless we have previously informed the customer in disclosures or agreements, have been authorized by the customer, or are required by law.

Whenever we hire other organizations to provide support services, we will require them to conform to our privacy standards and to allow us to audit them for compliance.

Notwithstanding above, the Bank shall endeavor to take all possible steps to maintain secrecy and confidentiality of information provided by Users, but shall not be liable to the Users for any damages whatsoever caused on account of breach of secrecy/confidentiality due to but not limited to reasons beyond the control of the Bank or its service providers.

The Bank has the absolute discretion to amend or change this privacy policy at any time, without prior notice. However, the Bank will endeavor to notify any such change by posting it on the website or through advertisement or any other means as the Bank may deem fit.

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Storage of your information:

With reference to the provision of the regulatory laws and rules, Bank shall maintain all necessary records of transactions between the Bank and the customer for at least five years from the date of the transaction.

Further, preserve the records pertaining to the identification of the customers and their addresses obtained while opening the account and during the course of business relationship, for at least eight years after the business relationship is ended.

Bank is also required to maintain the records for a longer duration in case there is a dispute and matter is pending in any Court/Enforcement Agencies etc.

Notwithstanding anything, Regulators/Courts may, by an order in writing, direct any banking company to preserve any of the books, accounts or other documents, for a period specified for their preservation.

In case of e-record, Bank has well defined procedures for process of sanitization, to expunge data from storage media for destruction.

Bank has well defined procedures and standards for handling data security.

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Law, Jurisdiction and Resolution

The provisions of this privacy policy shall be governed by and, construed in accordance with the Indian law and the courts located in India having jurisdiction shall deal with any dispute arising out of this privacy policy.

In case of any dispute/ grievance the user may contact us at 1800 5700 for the resolution of the grievance/ concerned.

We will continuously assess ourselves to ensure that customer privacy is respected.