Privacy Policy | MAG Finserv Company Limited
+91 7825 989898 support@magfinserv.in
Privacy Policy

Your data, handled with care

Last updated: August 2026

1. Introduction

MAG Finserv Company Limited (“MAG Finserv”, “we”, “us”) is a Non-Systemically Important Non-Deposit taking NBFC (NBFC-ND-NSI) registered with the Reserve Bank of India. We are committed to protecting the privacy and confidentiality of the personal information we handle in the course of providing loans and financial services.

2. Information we collect

We may collect and process the following categories of personal information:

  • Identity & contact details: name, date of birth, address, mobile number, email address, PAN, Aadhaar (where mandated by law) and photographs.
  • Financial information: income details, bank account details, credit information and information about your assets such as the gold pledged.
  • KYC information: documents required under RBI’s Know Your Customer (KYC) norms and the Prevention of Money Laundering Act.
  • Usage information: information you submit through our website forms, calls to our contact centre, and interactions with our branches.

3. How we use your information

We use the information we collect for the following purposes:

  • Processing, sanctioning, disbursing and servicing loans you apply for;
  • Verifying your identity and performing KYC checks as required by law;
  • Appraising and safeguarding assets pledged to us, including gold;
  • Communicating with you about your loans, repayments, and our products;
  • Improving our services, preventing fraud, and complying with regulatory and legal obligations;
  • Sending you information about products and offers, where you have consented to receive such communications.

4. Legal basis & consent

We process personal information on the basis of your consent (including the consent you grant when submitting any form on this website), for the performance of the lending contract entered with you, and to comply with applicable legal and regulatory obligations. Where you have given consent for marketing communications, you may withdraw it at any time by writing to support@magfinserv.in.

5. Disclosure to third parties

We may share your information with:

  • Regulators and government authorities (including the RBI, and tax authorities) where required by law;
  • Credit information companies (such as CIBIL) in line with applicable regulations;
  • Banks and co-lending partners, for loans originated under co-lending arrangements;
  • Service providers who support our operations (for example, record-keeping, verification and technology services) under strict confidentiality obligations;
  • Insurers and valuers, where necessary to safeguard pledged collateral.

We do not sell your personal information to anyone.

6. Data security

We follow reasonable physical, electronic and procedural safeguards to protect your personal information, including access controls, encryption in transit and periodic security reviews. Access to customer data is restricted to personnel who need it to perform their duties.

7. Retention

We retain personal information only as long as necessary for the purposes for which it was collected, including the duration of your loan relationship and the retention periods mandated by applicable law, after which it is securely deleted or anonymised.

8. Your rights

Subject to applicable law, you may request access to, correction of, or deletion of your personal information, and may object to or restrict certain processing. You may also file a grievance regarding our handling of your data.

To exercise these rights, please contact our Grievance Redressal Officer at support@magfinserv.in or by post at our corporate address, and we will respond within the timeframes prescribed by law.

9. Website forms & communications

When you submit a form on this website (including loan applications, contact forms and application forms), you authorise company representatives to Call, SMS, RCS, Email or WhatsApp you about our products and offers. This consent overrides any registration for DNC/NDNC. The information you provide in forms is transmitted to our support email and used solely to respond to your request.

10. Changes to this policy

We may update this Privacy Policy from time to time. The latest version will always be available on this page, and material changes will be communicated through our website.

11. Contact us

For any privacy-related queries or grievances, reach us at:
MAG Finserv Company Limited
Dr. Babasaheb Ambedkar Chowk, Raviwar Peth, Phaltan, Taluka Phaltan, District Satara, Maharashtra 415523
Email: support@magfinserv.in · Phone: +91 7825 989898