Loan Offerings
Loan Amounts: Between Rs. 5,000 and Rs. 200,000.
*Actual due day and annual percentage rate (APR) differ in accordance with the users’ credit score.
Repayment period: ranging from 95 days to a due day within 365 days.
Annual percentage rate (APR): vary from a minimum of 1% to a maximum of 30%.
For instance, if you take a loan of Rs. 5,000 with a 1% annual percentage rate for a year,
Markup fee: (5,000 x 1% / 365) x 365 = Rs. 50
Total repayable: Rs. 5,000 principal + Rs. 50 fee = Rs. 5,050
Equated
monthly installment (EMI): Rs. 5,050 divided by 12 months = Rs. 421
per month
Collection
& Use of Your Personal Information
Your privacy is a priority at Koodana Credit, and we are dedicated to safeguarding your personal data. "Personal data" refers to any information that could be used to identify you personally, such as your name, address, email, phone number, contact details, or identifiers like your PAN or bank card numbers. In the course of providing our Services and during our interactions, we may gather various data types, including personal data. This information is processed for legitimate reasons, including but not limited to managing our operations, enhancing security measures, refining and personalizing our Services, distributing notifications, marketing materials, and other uses as sanctioned by the law.
Please visit our official site at https://www.koodanacredit.com/ for contact details and to review our Privacy Policy. We ensure that all personal data transmitted to our server is kept confidential and safeguarded with 512-bit SSL encryption technology.
We might collect the following categories of personal data:
-
Location Information : We use this to confirm that loan applicants are within the eligible regions to qualify for a loan. This information is only gathered when our App is active in the background on your mobile device. If you choose to turn off location services, it may inhibit the full functionality of our Services.
-
Camera and Photo Gallery Access : To facilitate a more efficient loan application process and to authenticate your identity, we will ask for permission to access your camera and photo library. With your consent, this feature enables you to quickly take and upload pictures of yourself (face data) and your PAN card for the Know Your Customer (KYC) procedure. Your data will be transmitted and stored on our server https://www.koodanacredit.com/ confidentially and safeguarded with 512-bit SSL encryption technology. The data will not be retained and will only be stored for as long as the review process of your loan application completes. To see more about your rights and how we handle your personal data, please read the sections below. We ensure your data will not be shared with any third parties, and it will only be reviewed in our loan verification process mechanically.
Collaboration with SDK Services
At Koodana Credit, we prioritize the integrity and management of your data and strive to understand how our customers engage with our Services. To achieve these objectives, we work in tandem with select SDK (Software Development Kit) providers.
A key partner in our operations is AppsFlyer, a tool that equips us with market insights and analytics on user interaction with our Services. For efficient and timely communication, we employ Firebase Cloud Messaging, which allows us to send instant notifications directly to your device, ensuring prompt and cost-free message delivery. Additionally, Meta plays a crucial role in tracking advertisement events for every user.
We want to assure you that when you use our App, your data is anonymized and shared with these third-party services automatically while the App is in use. The type of data shared includes but is not limited to your approximate location, application usage patterns, performance metrics, and device-specific information. All data is encrypted during transfer to maintain its confidentiality and security.