For Loanova, your trust is our most valuable asset. As technology evolves and we continuously improve our digital lending services, we want to ensure that your rights, your personal data, and your borrowing experience remain fully protected, transparent, and secure.
To uphold this commitment, we have recently updated our Privacy Policy and Terms of Service across our official website and mobile platform.
These updates are designed to give you clearer insight into how we look after your information and what you can expect when borrowing with us. Here is a quick summary of the key changes that matter most to you:
1. Enhanced Data Privacy & Full RA 10173 Compliance
We have strengthened our data handling protocols to strictly align with the latest guidelines from the National Privacy Commission (NPC) and the Data Privacy Act of 2012 (RA 10173). The updated policy provides explicit details on how your personal data is encrypted, where it is securely stored, and the strict security measures we use to prevent unauthorized access.
2. Radical Transparency in Loan Disclosures
In compliance with the Truth in Lending Act, our updated Terms of Service feature a clearer breakdown of how loan interest, Annual Percentage Rates (APR), and processing fees are calculated. We promise that every single cost will be fully displayed upfront before you click "Confirm"—ensuring a 100% honest borrowing experience with zero surprise charges.
3. Simplified Account Management Rules
We have streamlined the guidelines regarding user account registration, identity verification (KYC), and payment methods. This makes it easier and faster for you to securely link your preferred bank accounts or e-wallets (like GCash and Maya) while keeping your financial transfers seamless and safe.
4. Clearer Communication and Smart Reminders
To help you maintain a healthy credit score, we have refined our policies regarding automated notifications. You will now receive more predictable, helpful payment reminders via SMS or email, ensuring you never miss a deadline or face unnecessary late payment fees.
What Do You Need to Do Next?
The updated policies take effect immediately. For most of our users, no action is required. By continuing to use our website and lending services, you acknowledge and agree to these refreshed terms.
You can find them anytime by clicking right here: (https://www.loanova.ph/privacy/)
We Are Always Here to Listen
If you have any questions, clarifications, or concerns regarding how your data is handled, our dedicated Data Protection Officer and friendly customer support team are always ready to assist you.
Thank you for choosing Loanova as your financial partner. Together, we are building a safer, faster, and more transparent financial future!
