Balance Privacy Policy

This privacy policy sets out how Balance Technology Pvt. Ltd (“Balance”) uses and protects any information that you share when you use the Website or the App, henceforth referred to as “Services”.

Balance is committed to ensuring that your privacy is protected at all times. Should we ask you to provide certain information by which you can be identified when using this website, you can be assured that it will only be used in accordance with this privacy policy.

Balance may change this policy from time to time by updating this page. This policy is effective from January 12, 2017.

Our main goal is to provide features that benefit you directly. Information is only collected if it directly supports features made for you. We take the protection and proper use of your personal information seriously and are committed to protecting your personal information in our possession.

This policy will help you understand the types of information we collect from you, the purpose for which the information is collected; how the information is used; the intended recipients of such information; and how the information is protected.

For the purposes of this policy, “personal information" means any information that can be used to identify you personally.

  1. Using Balance as a Visitor
  2. If you are a first-time visitor to the Website:

    1. We don't know who you are.
    2. We collect technical data about your interaction with the Website. We collect data about your interaction with our Website, such as pages visited and average time spent on the Website, your internet protocol address, the unique identifier of your device and device information such as operating system, operating system version, browser plugins, crashes, system activity, hardware settings, date and time of your request and referral URL, and cookies that may uniquely identify your browser and mobile application.
    3. We use this data to analyse how you use our website and improve the services provided through the website;

  3. Using Balance to sign up
  4. If you have provided us your email address:

    1. You have successfully signed up for a Balance invite.
    2. You may be asked to give us additional information such as your name or mobile number in order to use certain features of the Services.
    3. We collect technical data about your interaction with the Services.
    4. We use all the collected data to:
      • Respond to your queries about the Services;
      • Deliver to you any notices, alerts, or communications relevant to your use of the Services;
      • Offer you other products or services that we believe may be of interest to you. You have the option to opt-out of receiving such communication;
      • Aggregate your anonymised information with information from other registered users to perform market research, project planning, product development, troubleshoot problems, analyse user behaviour, marketing purposes, and promotions;
      • Enforce our Terms of Use of the Services;

  5. Using Balance as an Investor
  6. If you wish to start investing in mutual funds through Balance:

    1. You will be asked for basic registration information, such as an email address and password.
    2. You will be asked to provide personal details including your name, address, age, marital status, sex, and income.
    3. You will be asked for financial information like your bank account and other payment instrument details
    4. We use this information to:
      • Fulfil your requests for mutual fund investments and the related services we provide;
      • Comply with regulations to prevent fraud, money laundering or any other criminal activity;
      • Enforce the terms of the Investor Services Agreement;

  7. How We Use Your Data
  8. Your email address is used to send you updates regarding the Services.

    Your password is encrypted before being stored in our database and no one other than you knows or has access to it. Under no circumstance do we know or share your password with anyone.

    In order to start investing through Balance, we will need to verify your identity. To do so, we may, directly or through third parties, use the identification information you provide to verify it against databases maintained by a KYC (Know Your Customer) Registration Agency, registered under the Securities and Exchange Board of India {KYC (Know your Customer) Registration Agency} Regulations, 2011, and the Unique Identification Authority of India.

    We may also use your information to verify your identity in the event you contact us for assistance with the Services.

    We use cloud-based software tools to perform certain business-related functions. Examples of such functions include, maintaining databases and servers, processing text messages, phone calls, chats and emails, and marketing and sales analytics. Please note that these providers are bound by the same standards of data security practices and procedures as we are under law and contract.

  9. How We Use Technical Data
  10. Balance uses Google Analytics, a web analytics service provided by Google, Inc. Google Analytics uses first-party cookies to report on user interactions with our web-based services. These cookies store non-personally identifiable information.

    Google Analytics aggregates technical data (non personally identifiable data relating to your usage of our website) with data collected from other Balance users. We use this information to identify the most popular areas of the Services and how to best present and customise them for your convenience and benefits.

    We may use the unique identifier of your device for security purposes to track suspicious activity. For instance, if we detect that your App is being accessed from multiple devices, we may contact you to ensure that you have authorised such access.

    Under no circumstance will your email, password, any personal financial data be collected by or shared with Google Analytics.

  11. Access Your Information
  12. Your personal information is yours. Under Indian law, you have the right to ask us for a readable copy of all your personal information stored with us.

    If you have any questions about the accuracy or safety of your information, please do contact us at the e-mail address given below:

  14. We will not sale, rent, trade or disclose your Personal Information with any affiliated or unaffiliated third parties, except for these reasons: 

    1. Provide you the product and services
    2. Transaction processing and report generation
    3. To enable deliveries and payments to you in the form of freebies, goodies, marketing swag and cashbacks, etc.
    4. Conform with any legal requirements or comply with legal process(es)
    5. Enforce the terms and conditions of the products or services
    6. To similar services to provide you with various value-added service, to aid you in managing your finances.
    7. Protect the interests of Balance, its Affiliates, or its members, constituents, or of other persons

    Balance may make anonymous or aggregate Personal Information, and disclose or use such data only in a non-personally identifiable manner for purposes of research, advertising, comparison to organizations approved by Balance.

    When you choose to delete your account from the Website/Mobile App, your data will be permanently expunged from primary servers and further access to your account will not be possible. The Website/Mobile App will also promptly disconnect any connection it had established to your linked accounts and delete all Account Credentials. Notwithstanding anything above, portions of your data, consisting aggregate data derived from your Account Information, may remain on our servers indefinitely. Your data may also remain on backup server or media. We keep these backups to ensure our continued ability to provide the Services to you in the event of malfunction or damage to primary production servers.

  15. Disclosure of Information
  16. Under no circumstance do we sell or rent your personal information to anyone for any reason.

    Just like any other financial services company, we use authorized third party service providers who are bound by the same standards of data security practices and procedures as we are under law and contract. They are subject to the same penalties as we are for unauthorised disclosure of your personal information.

  17. Security Practices and Procedures
  18. Balance follows industry best practices, using open and known principles when transferring and storing your data.

    We believe the biggest threat to the security and privacy of your data is if someone probably someone you know gains access to any of your devices. Remember to keep your password safe and secret to prevent unauthorised access to your Balance account.

    If you think that the security of your Balance account has been compromised, change your password and contact us immediately for further assistance.

  19. How Your Information is Transmitted
  20. Your data is transmitted between your device and our servers using HTTPS protocol for encryption. HTTPS is the same technology used to create secure connections for your web browser, and is indicated by a padlock icon in your browser.

  21. Our Legal Obligation to You
  22. We are bound by the (Indian) Information Technology Act, 2000, and comply with all its provisions available at cyber laws. Under Section 43A of the (Indian) Information Technology Act, 2000, Balance and all its service providers are obliged to maintain reasonable security procedures to safeguard your data. Should there be any accidental disclosure of your personally identifiable personal information, you have the right to compensation from Balance.

    Under Regulation 5 of the Information Technology (Reasonable Security and Procedures and Sensitive Personal Data or Information) Rules, 2011, we are obliged to provide every registered user of Balance with a readable copy of the personal information you have provided us. If you would like a copy, do get in touch with us at the e-mail address provided above.

  23. Changes to This Privacy Policy
  24. This Privacy Policy is published on the website in compliance with Regulation 4 of the (Indian) Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Information) Rules, 201.

    We update this Privacy Policy periodically. We will notify you of any changes to this Privacy Policy. The date of last revision appears at the top and all changes take effect immediately upon posting.

    If you do not agree with the terms of this Privacy Policy or any changes made to this Policy, please cease using all Services immediately and write to us at the e-mail address mentioned above.