Privacy Policy SkyCredit loan

1. Loan product information.

Fees and Interest： - Tenure: Ranges from 180 to 365 days

Loan Amount: Up to ₦100,000
APR: Annual Percentage Rate is 10%(lowest)~18%(highest)
For example, if a customer borrows ₦10,000 for 365 days (12 months), the APR is 15%.
We would charge the customer ₦ 50,000 * 15% = ₦ 7,500 as interest of 365 days
repayment period.
Total amount of repayment is ₦50,000 + ₦7,500 = ₦57,500.
As the repayment period is for 12 months
Monthly repayment is ₦50,000/12+ ₦50,000*15%/12 = ₦4791.66

Our policy on collecting information and sharing customer information, and explaining the process.

2 What kind of information needs to be collected?

- Borrower information. Customer identification information, work information, the nearest person to contact in case of an emergency, and other when customer registration is required.

- Communication information. Call logs, text messages, contacts, etc.

- Sensitive information. IMEI, GPS, ISP, IP, mobile ID, customer's mobile number and others.

- Other information. Incident application usage, customer information directory required to install the application and more.

3. How to use customer information?

- Borrower information. The customer will fill in some mandatory information, which is required information.

- Communication information. Based on the customer's consent, the data is reported to the server and this information will be used for anti-fraud services.

- Facility Information. Data reported to the server based on the customer's consent that this information will be used for anti-fraud services.

- Other information. Data reported to the server based on the customer's permission, which will be used for the anti-fraud service, and for the detection of program or other problems.

4. How SkyCredit Loan manages your personal information

The information we collect about you as described above will be stored electronically and we manage it for the following purposes.

- To check that the information you submit uses your real information and that no one else is using your identity.

- To determine your eligibility for credit under the applicable terms.

- To communicate with you about your account, as well as to identify information when you call or access our mobile applications, and to provide updates when our services change.

- To process loan applications and, if your loan is approved, to ensure that the transaction process is secure to you.

- To rate your loan application history and confirm your work data.

- To perform eligibility analysis and estimate the risk of your loan.

- For developing our mobile applications to always meet the needs of our customers in the future.

- For the settlement of obligations arising from the contract signed between us and you.

- To facilitate checks by financial institutions, such as banks, financial institutions or other authorized third parties, limited to your status in the database or on our service.

5. How SkyCredit Loan protects the personal information of its customers

SkyCredit Loan is committed to protecting your information with the latest technology. We will adhere to applicable regulations to ensure that your information is maintained securely and access is restricted to protect you from any form of fraud. All types of payment transactions and personal information entered on the registration page will be encrypted using 128-bit Secure Socket Layer (SSL) technology. We provide a code that allows you to access our mobile applications and it is your responsibility to protect the access code to your account, including your user ID and password, so that no one else can access your account.

For your information, the transmission of information over Internet networks is not yet completely secure. While we have made every effort to protect your personal information data, we cannot guarantee the security of the data you transmit through our applications, and the process of transmitting information is your responsibility. When we receive your personal information data, we use strict procedures and security features in an effort to prevent unauthenticated access.

SkyCredit Loan uses computer protection measures such as firewalls and data encryption, and only authorizes our employees who need access to personal information in order to deliver work. To protect your personal information data, our data is encrypted before, during and after submission. Only authorized employees and authorized third parties have access to the data and they must pass some form of authentication before accessing any information.

SkyCredit Loan fully complies and abides by the applicable laws and regulations regarding data protection in Nigeria.

6. How SkyCredit Loan shares your personal information

SkyCredit Loan reserves the right to collect the following information and data Personal data relating to owners, major funders, partners, directors, employees or agents, employees, borrowers, payers, paid parties, guarantors, other insurers, other parties related to the borrower (collectively, the above parties are referred to as "Related Parties"). Personal data may include names, identities, dates of birth, contract details and other relevant personal information; and information and data obtained from general activities related to SkyCredit Loan. Such personal data may include signatures, answers to questions specifically for security verification, emergency contacts or other contact details. Personal data from related parties may be processed, stored, transferred or disclosed in accordance with applicable law. Collective Agreement The Borrower will be deemed to have consented (or obtained the consent of the Related Parties) to the Borrower's ongoing collection, use and disclosure of the Related Parties' relevant data as described above by SkyCredit Loan Services and/or approved under the terms and conditions specified. All parties, including funds, guarantors or institutions providing services to SkyCredit Loan, consent to a person's ongoing collection, use and disclosure of personal data, as specified by the SkyCredit Loan service use and/or approval of the terms and conditions. Information and data may be used and disclosed for the following purposes, both within and outside of Nigeria (collectively, the "Permitted Purposes") To manage the accuracy of "know your borrower" information; and to verify the representatives or identities of those contacted by SkyCredit Loan, or who may be contacted by SkyCredit Loan, and to perform or respond to requests, questions or instructions from verified representatives or other individuals in accordance with current security procedures. Personal data may be disclosed to the following individuals or entities (within or outside Nigeria) as permitted by applicable law (please note that this is not an exhaustive list) for permitted purposes or processes consistent with the permitted purposes in the request Any agent, contractor or third party service provider that provides banking services, money transfers, administration, communications, telecommunications, call centers, business processes, travel, visas, knowledge management, human resources, data processing, information technology, computers, payments, debt collection, checking credit references or other security or services in connection with the operation of SkyCredit Loan's business; is part of SkyCredit Loan persons or entities that are part of SkyCredit Loan and are under a duty of confidentiality in disclosing SkyCredit Loan entities, even if only at a stage necessary to fulfill the relevant licensing purposes. persons or entities that SkyCredit Loan has a duty or obligation to mengengapkan to enforce legal process, or legal obligations at home or abroad, including disclosure to courts, trials and/or legal, regulatory, tax and governmental authorities. Any party or candidate transferring from or to SkyCredit Loan the Borrower's relationship, or all or part of SkyCredit Loan's assets or business; or parties providing or submitting third party guarantees or warranties to secure or defend the Borrower's obligations." The applicant consents to SkyCredit Loan collecting, retrieving, processing, using and storing his/her personal data such as name, age, photo, fingerprints, other biometric data (e.g. facial recognition and voice recognition), cell phone number, cell phone usage data, employment details, income, financial data, financial status, credit status, loan payment history and the application form requesting other information requested in the application form in order to review and process the applicant's loan application. The applicant consents to the collection of his/her personal data from the applicant himself/herself or from other controllers of personal information (such as, but not limited to, telecommunications companies) for credit scoring purposes. The applicant's personal data, such as cell phone number, email address and address, will be shared with credit scoring service providers for credit checks, credit scoring, data analysis and data analytics, which includes periodic updates of the applicant's credit score. The personal data obtained may also be used for the direct marketing of the partner's products and services. Throughout the processing of an applicant's personal data, his/her rights under the Data Privacy Act 2012, such as (1) the right to be informed, (2) the right to object, (3) the right of access, (4) the right to rectification, (5) the right to erasure or blocking, and (6) the right to compensation for damages, shall be upheld. The same rights will be respected by the entities with whom we share your data."

"The applicant agrees that SkyCredit Loan, directly or through its partners, may collect, retrieve, process, use and store his/her personal data such as name, age, photo, fingerprints, other biometric data (such as facial recognition and voice recognition), cell phone number, cell phone usage data, employment details, income, financial data, financial status, credit status, loan payment history and the application form other information requested in order to review and process the applicant's loan application. The applicant consents to the collection of his/her personal data from the applicant himself/herself or from other controllers of personal information (such as, but not limited to, telecommunications companies) for credit scoring purposes. The applicant's personal data, such as cell phone number, email address and address, will be shared with credit scoring service providers for credit checks, credit scoring, data analysis and data analytics, which includes periodic updates of the applicant's credit score. The personal data obtained may also be used for the direct marketing of the partner's products and services.

Throughout the processing of the applicant's personal data, his/her rights under the Data Privacy Act 2012, such as (1) the right to be informed, (2) the right to object, (3) the right of access, (4) the right to rectification, (5) the right to erasure or blocking, and (6) the right to compensation for damages, shall be upheld. The same rights will be respected by the entities with which we share your data".

7. Transfers of personal data across borders

Your personal information may be transferred to jurisdictions outside of your country or the country, state and city where you use one of the services we provide ("Alternative Country/Territory"), which is located in a group of companies outside of your country or Alternative Country/Territory, and/or where our servers and/or service providers and group partners are located outside of your country or Alternative Country/Territory of your country.

In such cases, we will ensure that such personal information remains protected to the extent equivalent to the requirements of Nigerian law (and in any case, in accordance with our commitments in this Privacy Policy).

You understand and hereby consent to the transfer of your personal information from your home country or alternative country/region as described in this section.

8. Age

In order to be able to use our services, you must be 18-60 years of age or older. If you do not meet this requirement, then you are not allowed or permitted to use our services.

9. Marketing and promotional materials

a. We may send you marketing and promotional information by mail, phone, short message service (SMS), email, online messages or through push notifications from the Application to inform you of privileges, promotions or events we offer or organize with our partners, sponsors or advertisers, or to provide updates on our Application and/or the products and services offered therein.

b. You may opt-out of receiving such marketing messages at any time by clicking on the "unsubscribe" tool in the relevant message or by contacting us using the contact information below. Please note that if you opt out, we may still send you non-promotional information, such as loan repayment or payment receipts, or information about your account or application.

10. Third Party Sites

a. The Application and the Website may contain links to websites operated by third parties. We have no control over, and assume no responsibility or liability for, the collection, use, maintenance, sharing or disclosure of data and information by these sites and such third parties. Please review the terms and conditions and privacy policies of these third party websites to understand how they collect and use your personal information.

b. Advertisements contained in our applications or websites operate as links to advertisers' websites, so any information they collect through your clicking on a link will be collected and used by the relevant advertiser in accordance with the advertiser's privacy policy.

11. Changes to the Privacy Policy

We will notify you by email of any form of change to the Privacy Policy and provide a link to review the new Privacy Policy.

12. Mergers

For the avoidance of any form of bias and suspicion, this Privacy Policy must be equivalent to the usage requirements in our mobile applications. If you agree to use our lending services, this Privacy Policy must be merged and become an integral part of the SkyCredit Loan loan agreement.